1.London Nickel (LME) closed higher yesterday, gaining $50 to reach $18,625 per ton. In contrast, the evening session of the Shanghai Nickel (SHFE) main contract closed with a decline of 350 yuan, settling at 150,680 yuan per ton.
2.Macro Perspective: International retail sales data for September exceeded expectations by a considerable margin. As a result, the probability of a rate hike in December has increased. However, the performance of the three major stock indices was mixed.
3.Domestic Developments: Local governments have issued refinancing bonds to repay existing debts. China has accelerated its pace of international engagement, signing trade and cooperation agreements with Serbia and Ethiopia. The third-quarter financial results of listed companies are expected to show signs of recovery, which bodes well for the fundamental health of stock indices.
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