Outcomes from the economic and trade consultations in Kuala Lumpur
*The U.S. side will cancel the additional 10% tariffs imposed on Chinese goods under the so-called Fentanyl-related sanctions.
*The U.S. side will extend the suspension of the additional 24% tariffs for one year.
*The U.S. side will suspend the implementation of the 50% “Breakthrough” rule for export controls for one year.
*The U.S. side will suspend its Section 301 investigations into China’s maritime, logistics, and shipbuilding sectors for one year.
*The Chinese side has agreed to suspend its export control measures on rare earths.
Industrial Economy
*CSRC has granted approval to Moore Threads Intelligent Technology (Beijing) Co., Ltd. for its registration application for an initial public offering (IPO) and listing on the STAR Market.
*NFRA issued a notice on promoting the sustainable and healthy development of pension wealth management services, which encourages pilot wealth management companies to launch long-term pension products with durations of over 10 years or a minimum holding period of over 5 years, also supports these companies in investing in pension-related assets through various channels, including bonds, stocks, non-standardized credit assets and derivatives.
*MoC and other 4 departments jointly announced an improved policy for duty-free shops, effective November 1st, which aims to enhance the role of the duty-free shop policy in boosting consumption, guide the repatriation of overseas spending, attract foreign nationals to consume in China and promote the healthy and orderly development of the duty-free retail business.
Oct 30 Block Trade Info
*Discount
-SBT Ultrasonic Tech (688392 CH) saw 7 block trades worth 106.13mn at 98.45yuan per share, 10.09pct discount from last closing.
-Aurora Optoelectronics (600666 CH) saw 2 block trades worth 113.04mn at 3.14yuan per share, 3.09pct discount from last closing.
-Kuang-Chi Tech (002625 CH) saw 4 block trades worth 312.69mn at 42.98/44.39yuan per share, 1.73/4.85pct discount from last closing.
*Flat
-Zangge Mining (000408 CH) saw 1 block trade worth 75.35mn at 60.19yuan per share, flat from last closing.
