2026-09-22

At its 2026 interim results meeting, chairman Gong Zhigang said August tungsten hexafluoride (WF6) exports fell month-on-month from about 64 tonnes to 39 tonnes after typhoon-related port congestion and shipment delays to some overseas destinations. The company said the disruption affected delivery timing only; total export order volume and overseas customer relationships were not impacted. CSSC Special Gas has adopted a tailored, customer-by-customer sales strategy and currently negotiates WF6

At its 2026 interim results meeting, chairman Gong Zhigang said August tungsten hexafluoride (WF6) exports fell month-on-month from about 64 tonnes to 39 tonnes after typhoon-related port congestion and shipment delays to some overseas destinations. The company said the disruption affected delivery timing only; total export order volume and overseas customer relationships were not impacted. CSSC Special Gas has adopted a tailored, customer-by-customer sales strategy and currently negotiates WF6 pricing on a quarterly basis.

2026-09-22

Gulf allies will meet Trump in New York on Tuesday as he weighs whether to "destroy" Iran’s regime. They previously succeeded in dissuading him from major escalation and now seek to steer a course that shields them from further strikes without drawing them deeper into conflict. Washington is said to be looking for exit options; Trump told reporters last Thursday he faces a "major decision" on war and wants direct input from Gulf leaders.

Gulf allies will meet Trump in New York on Tuesday as he weighs whether to "destroy" Iran’s regime. They previously succeeded in dissuading him from major escalation and now seek to steer a course that shields them from further strikes without drawing them deeper into conflict. Washington is said to be looking for exit options; Trump told reporters last Thursday he faces a "major decision" on war and wants direct input from Gulf leaders.

2026-09-22

UBS CEO Sergio Ermotti told a Bank of America financials conference that wealth management momentum is strong and trading activity is healthy. He said UBS expects Q3 results to show year-on-year improvement, but growth is likely to be slower than in the same period in 2025 and, due to seasonality, unlikely to match last year’s level. UBS will report Q3 results on Oct. 28.

UBS CEO Sergio Ermotti told a Bank of America financials conference that wealth management momentum is strong and trading activity is healthy. He said UBS expects Q3 results to show year-on-year improvement, but growth is likely to be slower than in the same period in 2025 and, due to seasonality, unlikely to match last year’s level. UBS will report Q3 results on Oct. 28.

2026-09-22

Hong Kong stocks closed marginally higher after an early surge faded. The Hang Seng Index closed up 0.18% at 25,087.75 and the Hang Seng Tech Index closed up 0.34% at 4,438.21; turnover was HKD 249.21 billion versus HKD 202.73 billion in the prior session. Hang Seng Tech briefly rallied nearly 2% in early trade before pulling back. Large internet names led gains, memory-chip names saw pockets of strength, AI application names were mixed, mainland property names slid and gold miners weakened. Key

Hong Kong stocks closed marginally higher after an early surge faded. The Hang Seng Index closed up 0.18% at 25,087.75 and the Hang Seng Tech Index closed up 0.34% at 4,438.21; turnover was HKD 249.21 billion versus HKD 202.73 billion in the prior session. Hang Seng Tech briefly rallied nearly 2% in early trade before pulling back. Large internet names led gains, memory-chip names saw pockets of strength, AI application names were mixed, mainland property names slid and gold miners weakened. Key movers: Tencent Holdings (00700.HK) +5.02%, Alibaba Group Holding (09988.HK) +1.95%, Montage Technology (06809.HK) +8.10%, 01815.HK -6.41%, SUNAC CHINA (01918.HK) -8.70%.

2026-09-22

國外 1. 惠譽：特斯拉AI鉅額投資恐將壓低利潤率。 2. 紐約梅隆銀行：預計美聯儲12月再加息一次，但2027年前景仍存疑。 3. 巴克萊：中東石油供應復甦遇阻，油市供需平衡前油價或再飈五成。 4. 花旗研究：空頭累積之際 日經指數或因溫和催化劑反彈。 5. 德意志銀行：終點利率恐遠超預期，升息未必導致股市下跌。 國內 1. 中信證券：先進製造頂層定調，算力建設景氣加速。 2. 中信建投：MFC、空白掩膜版、靜電卡盤產業鏈具備更高國產化斜率。 3. 中信建投：機器人板塊國內外預計催化不斷，建議聚焦優質環節。 4. 國盛證券：四季度政策密集期疊加厄爾尼諾，關注種業板塊。 5. 中泰證券：科技行情已經進入右側啓動階段。 6. 德邦證券：醫藥工業十五五規劃發佈 重點支持創新藥械及產業鏈。 7. 國金證券：歐洲海風管樁機制修復及拍賣高景氣並行，訂單有望迎來放量拐點。

國外 1. 惠譽：特斯拉AI鉅額投資恐將壓低利潤率。 2. 紐約梅隆銀行：預計美聯儲12月再加息一次，但2027年前景仍存疑。 3. 巴克萊：中東石油供應復甦遇阻，油市供需平衡前油價或再飈五成。 4. 花旗研究：空頭累積之際 日經指數或因溫和催化劑反彈。 5. 德意志銀行：終點利率恐遠超預期，升息未必導致股市下跌。 國內 1. 中信證券：先進製造頂層定調，算力建設景氣加速。 2. 中信建投：MFC、空白掩膜版、靜電卡盤產業鏈具備更高國產化斜率。 3. 中信建投：機器人板塊國內外預計催化不斷，建議聚焦優質環節。 4. 國盛證券：四季度政策密集期疊加厄爾尼諾，關注種業板塊。 5. 中泰證券：科技行情已經進入右側啓動階段。 6. 德邦證券：醫藥工業十五五規劃發佈 重點支持創新藥械及產業鏈。 7. 國金證券：歐洲海風管樁機制修復及拍賣高景氣並行，訂單有望迎來放量拐點。

2026-09-22

銅： 截至9月18日當週，中國銅去庫0.3萬噸，低於5年季節性平均約1.7萬噸的去庫水平。但隨着LME銅回落至約14,000美元/噸，中國在岸買盤迴升，洋山銅溢價顯著反彈至120美元/噸以上。 鋁： 上週去庫6.3萬噸，總庫存降至約80萬噸，回到歷史正常水平。但中國8月鋁產量400萬噸、前8月3100萬噸，年化約4650萬噸，高於4500萬噸產能上限，供應超預期或壓制短期鋁價。 鋅： 經歷兩週顯著去庫後，鋅去庫迴歸季節性趨勢，總庫存21.4萬噸仍爲2022年以來最高。摩根大通商品研究預計中國持續出口將緩解市場緊張，年底鋅價或降至約3,500美元/噸。

銅： 截至9月18日當週，中國銅去庫0.3萬噸，低於5年季節性平均約1.7萬噸的去庫水平。但隨着LME銅回落至約14,000美元/噸，中國在岸買盤迴升，洋山銅溢價顯著反彈至120美元/噸以上。 鋁： 上週去庫6.3萬噸，總庫存降至約80萬噸，回到歷史正常水平。但中國8月鋁產量400萬噸、前8月3100萬噸，年化約4650萬噸，高於4500萬噸產能上限，供應超預期或壓制短期鋁價。 鋅： 經歷兩週顯著去庫後，鋅去庫迴歸季節性趨勢，總庫存21.4萬噸仍爲2022年以來最高。摩根大通商品研究預計中國持續出口將緩解市場緊張，年底鋅價或降至約3,500美元/噸。