Jin10 Summary: US Nonfarm Payrolls Beat Expectations, State Council Meeting Deploys Market Stabilization Measures

On November 7, Jin10 data summary showed that U.S. October nonfarm payroll data significantly exceeded expectations, increasing market bets on a Fed rate hike in December; the State Council proposed improving capital market stabilization mechanisms.

The Shenzhen Stock Exchange revised the ChiNext index compilation scheme, gradually adjusting the weight cap for a single constituent stock to 15%; six leading brokerages completed swap facility operations and landed the first batch of stock investments. Microsoft is gradually terminating its AI computing lease agreement with Oracle, and TSMC plans to deploy 3D DRAM at Nvidia's request.

Internationally, Trump announced the appointment of Stephen Miller as the new White House Chief of Staff; Saudi Arabia cut its December crude oil prices for Asia to the lowest level in six years; Kazakhstan plans to reduce the share of gold in its reserves to below 75% in the medium term. Fed officials Daly and Williams stated they are prepared to raise rates further if necessary, noting inflation remains too high.

[TechFlow]