U.S. API Cushing crude inventories for week to Nov. 6 +182,000 barrels, prior +511,000 barrels.

Gree Electric chair Dong Mingzhu recently said rising copper input costs are weighing on the company; copper now trades at roughly 5–6 times the price of aluminum. Faced with higher costs, Gree will retain copper components to preserve product quality and is prepared to absorb a profit loss of tens of billions of yuan rather than switch to cheaper aluminum, which she said could undermine stability, reliability and durability and ultimately harm consumers.

Li Qiusuo, chief domestic strategist at China International Capital Co, said external disturbances have shown signs of abating and corporate earnings remain resilient; if external shocks marginally ease, the market could see early valuation repair. Through Q3, A-share revenue and earnings growth outpaced nominal GDP and non-financial corporate profits remain stable, with AI and energy sectors providing meaningful support. Broad-index valuations have fallen materially: the CSI300 forward P/E is near its 10-year average while the ChiNext forward P/E sits at historical extremes, leaving overall market valuation attractive and vulnerable to recovery if risks subside. He recommends a tech-plus-dividend barbell allocation, expects the next phase to be structurally driven, and flags sustained AI momentum and higher conviction in tech hardware (optical communications, semiconductor equipment, and sectors tied to upstream power bottlenecks); among cyclicals he highlights chemicals, petrochemicals and construction machinery as showing improving supply-demand and potential earnings-recovery upside.