📡 Hourly Briefing | 15:00–16:00
1. RecodeX update: DBS Group Chief Investment Officer Hou Weifu said Nvidia’s price-to-earnings ratio and the market’s expectation of around 70% earnings growth in the next fiscal year indicate that AI-driven tech stocks are still far from bubble territory. He believes current valuations are in line with earnings growth, and that gains in AI-related stocks are supported by fundamentals.
2. RecodeX update: France’s final services PMI for September came in at 51.2, below the market expectation of 51.4 and the previous reading of 51.4. The index remained above the 50-point threshold, indicating that activity in France’s services sector continued to expand, albeit at a slower pace than before.
3. RecodeX update: This year, the Wenzhou Municipal Justice Bureau, Market Supervision Administration and Tax Service jointly issued documents including the Compliance Guidelines for AI-Generated Content in Wenzhou, the Compliance Guidelines for Building AI OPC Startup Communities in Wenzhou, and the Guidelines for AI OPCs in Wenzhou on Compliance from Business Registration to Taxation. These documents provide a regulatory framework for the startup ecosystem for one-person companies. For financial support, Longwan District offers personal startup-guarantee loans of up to 300,000 yuan and loans of up to 4 million yuan for small and micro enterprises. It has also established a 400 million yuan industrial fund, providing support from the seed stage through to growth.
4. RecodeX update: Final September services PMI readings for France, Germany and the eurozone will be released one after another in ten minutes. In addition, changes in the UK’s LME copper, aluminium and nickel inventories for the period through October 5 will be released in twenty minutes.
5. RecodeX update: China Railway Construction Corporation announced that the Anhua Tunnel, the longest tunnel on the Tianlong Railway, was successfully completed on the 5th. Its completion marks significant progress on Gansu Province’s first regional trunk railway to be independently financed and built, laying a solid foundation for the Tianlong Railway to be completed and opened to traffic on schedule.
6. RecodeX update: Germany’s final services PMI for September came in at 52.9, in line with both the market expectation and the previous reading. The index remained above the 50-point threshold, indicating continued expansion in Germany’s services sector.
7. RecodeX update: Foxconn reported third-quarter revenue growth of 47% year over year, above market expectations.
8. RecodeX update: Italy’s composite PMI fell to 51 in September from 53.6 previously. The index remained above the 50-point threshold, indicating that private-sector activity in Italy continued to expand, though at a slower pace than in August.
1. RecodeX update: DBS Group Chief Investment Officer Hou Weifu said Nvidia’s price-to-earnings ratio and the market’s expectation of around 70% earnings growth in the next fiscal year indicate that AI-driven tech stocks are still far from bubble territory. He believes current valuations are in line with earnings growth, and that gains in AI-related stocks are supported by fundamentals.
2. RecodeX update: France’s final services PMI for September came in at 51.2, below the market expectation of 51.4 and the previous reading of 51.4. The index remained above the 50-point threshold, indicating that activity in France’s services sector continued to expand, albeit at a slower pace than before.
3. RecodeX update: This year, the Wenzhou Municipal Justice Bureau, Market Supervision Administration and Tax Service jointly issued documents including the Compliance Guidelines for AI-Generated Content in Wenzhou, the Compliance Guidelines for Building AI OPC Startup Communities in Wenzhou, and the Guidelines for AI OPCs in Wenzhou on Compliance from Business Registration to Taxation. These documents provide a regulatory framework for the startup ecosystem for one-person companies. For financial support, Longwan District offers personal startup-guarantee loans of up to 300,000 yuan and loans of up to 4 million yuan for small and micro enterprises. It has also established a 400 million yuan industrial fund, providing support from the seed stage through to growth.
4. RecodeX update: Final September services PMI readings for France, Germany and the eurozone will be released one after another in ten minutes. In addition, changes in the UK’s LME copper, aluminium and nickel inventories for the period through October 5 will be released in twenty minutes.
5. RecodeX update: China Railway Construction Corporation announced that the Anhua Tunnel, the longest tunnel on the Tianlong Railway, was successfully completed on the 5th. Its completion marks significant progress on Gansu Province’s first regional trunk railway to be independently financed and built, laying a solid foundation for the Tianlong Railway to be completed and opened to traffic on schedule.
6. RecodeX update: Germany’s final services PMI for September came in at 52.9, in line with both the market expectation and the previous reading. The index remained above the 50-point threshold, indicating continued expansion in Germany’s services sector.
7. RecodeX update: Foxconn reported third-quarter revenue growth of 47% year over year, above market expectations.
8. RecodeX update: Italy’s composite PMI fell to 51 in September from 53.6 previously. The index remained above the 50-point threshold, indicating that private-sector activity in Italy continued to expand, though at a slower pace than in August.