(1) Stock Market Highlights

- U.S. Market

The Dow Jones closed at 43,239 points, up 161 points or 0.37%; the S&P 500 fell by 0.02%, closing at 5,841 points; the Nasdaq rose by 0.04%,

 closing at 18,373 points; the Golden Dragon Index, which reflects the performance of Chinese concept stocks, slipped by 3.61%.

- Hong Kong Market

The Hang Seng Index closed at 20,079, down 207 points or 1%; the China Enterprises Index closed at 7,179, 

down 88 points or 1.22%; the Hang Seng Tech Index closed at 4,349, down 52 points or 1.19%.

- Mainland Market

The Shanghai Composite closed at 3,169, down 33 points or 1.05%; the Shenzhen Component Index closed at 9,891, 

down 73 points or 0.74%; the ChiNext Index closed at 2,033, down 6 points or 0.32%.

(2) Economic Highlights

- On October 17th, the State Council Information Office held a press conference where heads of five departments, 

including the Ministry of Housing and Urban-Rural Development and the Ministry of Finance, introduced measures to 

promote the stable and healthy development of the real estate market. The conference further clarified a series of "combination moves"

 to promote the stable and healthy development of the real estate market, including four cancellations, four reductions, and two increases. 

Specifically, the four cancellations include the cancellation of purchase restrictions, sale restrictions, price limits, and the standards

 for ordinary and non-ordinary residences; the four reductions include the reduction of housing provident fund loan interest rates,

 the down payment ratio for housing loans, the interest rates on existing loans, and the tax burden for "selling old and buying new" 

housing exchanges; the two increases involve, through monetary resettlement and other methods, the addition of 1 million urban village renovations 

and dilapidated housing renovations, and by the end of the year, the credit scale of the "white list" project will be increased to 4 trillion yuan.

- A report by Standard Chartered Bank pointed out that the recent policy combination of the Chinese government is likely to cause China's economic 

growth and inflation to bottom out and rebound more quickly, at the cost of issuing more government bonds, with an estimated 

issuance of 12 to 15 trillion yuan (RMB, same below) (accounting for 9% to 11% of GDP) in government bonds over the next three years, 

and the budget deficit will also expand.

The report expects that special treasury bonds and local debt swaps will increase, with an estimated addition of 1 trillion yuan in special 

treasury bonds and 1 to 2 trillion yuan in local government bonds for debt swaps this quarter; in addition, the acceleration of monetary policy easing, 

and the impact of increased supply and asset conversion risks, Chinese interest rates will remain volatile in the short term and then fall further.

- Driven by the weak yen, Japan's tourism industry is unprecedentedly booming in 2024. The latest official data shows that the 

consumption of tourists in Japan has broken the annual record in just 9 months. According to the preliminary data 

released by the Japan National Tourism Organization (JNTO) on Wednesday, international tourists spent 5.86 trillion yen ($392.7 billion) 

in Japan as of September. This exceeded the annual consumption record of 5.3 trillion yen set in 2023.

(3) Corporate News

- According to a report by Bloomberg citing sources, Apple collaborated with BYD around 2017 to develop long-life electric vehicle

 batteries for Apple's self-developed electric vehicles. However, the group abandoned the electric vehicle project in February this year, 

and this secret battery research by both parties has benefited BYD, laying the foundation for the battery technology currently used in BYD's electric vehicles.

- The National Security Department recently announced a survey and leak notice, stating that in recent years, as national security 

agencies have increased their crackdown on illegal surveying and mapping activities, some foreign organizations have gradually

 turned to so-called project cooperation with domestic enterprises to evade regulation and illegally collect original surveying and

 mapping data, threatening national security. The national security agency found that a foreign company, Company A, cooperated 

with a domestic Company B with surveying and mapping qualifications, using the research of automotive intelligent driving as a cover,

 and illegally carried out geographic information mapping activities.

Alibaba (09988)'s Alibaba Cloud canceled its first-class surveying and mapping qualifications. The Zhejiang Provincial Department of

 Natural Resources stated that Alibaba Cloud applied for cancellation on its own initiative and is not the same as the domestic Company B 

mentioned in the national security notice.

- The China Cybersecurity Association named the American semiconductor giant Intel, stating that the company's products sold in China 

have security flaws that threaten China's national security, and suggested initiating a cybersecurity review of Intel's products sold in China 

to effectively protect China's national security and the legitimate rights and interests of Chinese consumers.

Intel responded in a WeChat post, stating that as a multinational company operating in China for nearly 40 years, Intel strictly abides by the

 laws and regulations applicable in the places where it operates. The company has always prioritized product safety and quality, actively cooperated 

closely with customers and the industry to ensure product safety and quality. Intel will maintain communication with relevant departments, clarify related doubts, 

and express its firm commitment to product safety and quality. 

(4) Corporate Earnings Announcements

- TSMC announced its performance for the third quarter of this year, with a net profit of about 325.26 billion New Taiwan dollars, 

higher than market expectations, a year-on-year increase of 54.15%, and a sequential increase of 31.23%; earnings per share were 12.54 yuan.

 In the third quarter, the company's revenue was 759.692 billion New Taiwan dollars, a year-on-year increase of 38.95%, and a sequential increase

 of 12.8%. The gross margin was 57.8%, and the operating profit margin was 47.5%.

TSMC stated that 3-nanometer process shipments accounted for 20% of the company's quarterly wafer sales, 5-nanometer accounted for 32%; 

7-nanometer accounted for 17%. Overall, advanced processes, including 7-nanometer and more advanced processes, accounted for 69% of the total quarterly wafer sales.