Offshore Renminbi (CNH) against the US dollar reported 7.2036 yuan at 05:59 Beijing time, a decrease of 1019 points from the New York closing on Tuesday, trading within the range of 7.0906-7.2096 yuan throughout the day, approaching the bottom of 7.2521 yuan on August 2nd.

The Economic Daily article stated that 'pharmaceuticals + semiconductors' 'chemicals + semiconductors' 'new energy fund + Asia vets'... Since the beginning of this year, there have been frequent cross-border mergers and acquisitions in the A-share market, with significantly increased activity. In the current accelerated development of new quality productive forces, cross-border mergers and acquisitions still have new strategic significance: they can achieve resource integration and synergistic linkage between different industries, thereby promoting the transformation and upgrading of traditional industries, supporting the growth and expansion of strategic emerging industries, and helping to drive high-quality economic development. Encouraging cross-border activities is not synonymous with tolerance of boundary violations. In the past, the A-share market has seen cross-border mergers and acquisitions that speculate on concepts and ride on hot topics under the guise of diversification, ultimately resulting in chaos and harming investor interests. Therefore, regulatory authorities need to strictly regulate and crack down on blind cross-border mergers by shell companies with relatively poor regulatory standards and weak transaction execution capabilities, strictly crack down on market irregularities such as using the name of restructuring for arbitrage, and further clarify the boundaries between reasonable cross-border activities and blind cross-border activities, providing clearer guidance and compliance for listed companies. No matter how or where the cross-border activities go, the ultimate goal of M&A activities of listed companies should always be to grow stronger and larger, achieve horizontal synergy, vertical integration, and exceed the sum of its parts.'

Jiangsu Guofu Hydrogen Energy applies for a Hong Kong IPO, seeking to issue 6 million shares of stocks, with a price range guidance of HKD 65-73 per share, and stocks are expected to start trading from November 15th.

According to cme's "FedWatch", the probability of the Fed cutting 25 basis points by November is 99.4%, with a 0.6% probability of a 25 basis points cut. The probability of a cumulative 25 basis points cut by December is 32.0%, a cumulative 50 basis points cut is 67.6%, and a cumulative 75 basis points cut is 0.4%.

According to the Russian automobile market analysis institution Autostat, in October, Chinese brands occupied seven out of the top ten positions in the Russian passenger car market sales. The first place is held by the Russian LADA (26% of total sales, 44,812 units). Among foreign brands, Haval once again took the lead (23,801 units), followed by Geely (17,163 units), Chery (15,140 units), and Changan (10,973 units). In October 2024, the sales of new passenger cars in the Russian automobile market reached 171,179 units, a year-on-year increase of 52.4%. (Russian satellite communications agency)

Faraday Future's (FFIE.O) Q3 financial report shows that the company delivered the FF 91 2.0 Futurist Alliance, with a total delivery volume of 14 vehicles. As of September 30, 2024, the company's assets are $0.449 billion, liabilities are $0.2923 billion, and book value is $0.1567 billion. Operating losses narrowed from $66.4 million in the same period last year to $25.2 million.

After Elon Musk-backed Trump won the US presidential election, Tesla (TSLA.O) rose 14.75% on Wednesday US time. Data from the Forbes billionaire list shows that Tesla's sharp rise increased the wealth of the company's founder and CEO Musk by 20.9 billion dollars in a single day, with total assets reaching 285.6 billion dollars, far surpassing Jeff Bezos, who ranks second on the global billionaire list.

The Chief Financial Officer of novo-nordisk a/s, Karsten Munk Knudsen, stated on Wednesday, November 6th, that the company has learned that 10 people have died and another 100 have been hospitalized after taking a compound generic weight-loss drug. Semaglutide developed by novo-nordisk a/s has outstanding effects in treating type 2 diabetes and as a weight-loss drug. Due to high demand, Semaglutide is still marked as in short supply by the Food and Drug Administration (FDA) in the usa.

On November 6th local time, the US stock market closed sharply higher, with major benchmark indices hitting record highs. The Dow Jones Industrial Average rose 1508 points to a record high, an increase of about 3.6%, the last time this index rose more than 1000 points in a single day was in November 2022; the S&P 500 index also hit a record high, rising 2.5%; the Nasdaq Composite Index rose 3% to a record high. (CCTV News)

Gilead Sciences raised at least $7.55 billion in financing in the third quarter, market expectations were $7 billion. Adjusted earnings per share for the third quarter were $2.02, exceeding the market's $1.50 expectation. The company expects annual product sales revenue in the range of $27.8 billion to $28.1 billion, compared to the market's expectation of $27.47 billion. Expected annual earnings per share for the full year are $4.25 to $4.45, up from the previous expectation of $3.60 to $3.80. Gilead Sciences' stock price rose 4% after hours.