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<Research>Nomura: Challenging 2026 for CN Telecoms; CHINA TELECOM, CHINA UNICOM Downgraded to Neutral
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<Research>Nomura: NETEASE MUSIC Full-Yr Adjusted NP Slightly Beats, Total Rev. Marginally Misses
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ImmD Expects ~11.38M Pax Traffic for HK During CNY Period
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<Research>G Sachs: SMIC 4Q25 OP Beats
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<Research>Daiwa: WUXI BIO Sees Significant Gross Margin Improvement; 2H25 NP Forecast Beats
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<Research>UBS: NETEASE MUSIC 2H25 Earnings in Line, but Core Music Biz Weakens
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<Research>M Stanley Rates NetEase as Overweight; Mgmt Emphasizes Group as Beneficiary of AI
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<Asia>TW, JP, SG, SK Stock Indices Notch Record Highs; TSMC Hits Peak; Samsung Surges 6%
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<Research>M Stanley: SMIC Benefits from CN AI Compute Build-out; Rating Kept at Overweight
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<Research>M Stanley: NTES-S 4Q Rev. & Profit Miss Due to Delayed Rev. Recognition
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<Research>UBS Cuts Earnings Forecast for SMIC; Quarterly Results Beat, but GPM Under Pressure
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Beijing Mkt Regulator Holds Talks with 12 3rd-Party Train Ticket Online Sales Platforms
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<Research>M Stanley Expects WUXI BIO Shr Price to Rise in Next 45 Days, Lifts TP to $50
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ZIJIN MINING Leaps ~4% in Early Session after Citi Elevates TPs by 30%+, Sees Gradual Hike in Div. Payout Ratio
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CHINA VANKE Leaps ~5% as Shenzhen Reportedly Planning RMB80B Rescue Package
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<Research>UBS Slightly Raises NVIDIA TP to USD245; Supply Chain Signals Remain Bullish
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WeChat Pay: Upgraded WeChat Pay QR Code for Money Collection Feature Records ~1M Transactions w/ CN Tourists Accounting for ~60%
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Hong Kong Customs, Taobao & Tmall Sign MOU
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Spot USD/ CNH Crosses Atop 6.9 Mark
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NETEASE MUSIC Slips 9%+ in Early Trade under Post-results Selling Pressure
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