Melius Research: Raises its price target for Alphabet (GOOGL.O) from $280 to $305.

Key News: 1. Hong Kong media: The Hong Kong Securities and Futures Commission (SFC) will launch a consultation on optimizing the listing rules for dual-class shares. 2. The Hong Kong Monetary Authority (HKMA) lowered its benchmark interest rate by 25 basis points to 4.25%, following the overnight rate cut by the Federal Reserve. Individual Stock News: 1. WH Group (00288.HK): Q3 profit of US$1.168 billion, up 8.05% year-on-year. 2. WuXi AppTec (02359.HK) signed a strategic cooperation memorandum with Saudi Arabia's New Future City and the Saudi Ministry of Health. 3. Guoquan (02517.HK): Q3 core operating profit is expected to increase by 44.4% to 66.7% year-on-year. 4. Jiangxi Copper (00358.HK): Q3 net profit of RMB 1.849 billion, up 35.2%. 5. ASMPT (00522.HK): Q3 non-HKGAS adjusted profit of RMB 102 million, up 245% year-on-year. 6. Beijing Automotive (01958.HK): Revenue of RMB 120.798 billion and net profit of RMB 4.476 billion for the first three quarters of 2025. 7. Ping An Insurance (02318.HK): Net profit attributable to shareholders of the parent company of RMB 132.856 billion for the first three quarters, a year-on-year increase of 11.5%. 8. Zhou Liufu (06168.HK): Will launch a new cooperation model for joint venture stores, which is expected to bring about an increase in the number of stores and an increase in revenue per store. 9. Sinopec Oilfield Service (01033.HK): Consolidated operating revenue of RMB 55.16 billion for the first three quarters of 2025, a year-on-year increase of 0.5%; net profit attributable to shareholders of the company of RMB 670 million, a year-on-year decrease of 1%. 10. Bank of China (03988.HK): Revenue of RMB 162.697 billion for the third quarter of 2025, compared with RMB 161.176 billion in the same period last year, a year-on-year increase of 0.94%. Net profit was 60.069 billion yuan, an increase of 5.09% year-on-year.

JPMorgan's global head of fixed income, Michelle, said that Federal Reserve Chairman Jerome Powell is gradually losing control of the Fed.