周一，上证综指上涨0.53%，收于4019点，创下十年新高，防御性股票领涨，投资者纷纷撤出高科技和人工智能行业。中国股市也跟随全球同行走高，风险偏好有所改善，因为人们乐观地认为，在参议院批准了一项初始融资法案后，美国政府长期停摆可能很快就会结束。表现最好的包括广州天赐材料（2.9%）、中国旅游集团（10%）和贵州茅台（2%）。在企业新闻方面，北京方面对其子公司荷兰Nexperia的民用芯片豁免出口管制后，Wingtech Technology上涨3%。与此同时，周末数据显示，10月份消费者价格意外上涨0.2%，从9月份0.3%的跌幅反弹，而生产者价格指数下跌2.1%，为14个月来最温和的跌幅。

The Shanghai Composite rose 0.53% to close at 4,019 on Monday, reaching a fresh decade-high, with defensive stocks leading gains as investors rotated out of high-flying technology and AI sectors. Chinese shares also followed global peers higher amid improved risk appetite on optimism that the prolonged US government shutdown may soon end, after Senate approval of an initial funding bill. Top performers included Guangzhou Tinci Materials (2.9%), China Tourism Group (10%), and Kweichow Moutai (2%). In corporate news, Wingtech Technology gained 3% after Beijing granted exemptions to export controls on Dutch firm Nexperia’s chips, its subsidiary, for civilian use. Meanwhile, weekend data showed consumer prices unexpectedly rose 0.2% in October, rebounding from a 0.3% drop in September, while producer prices fell 2.1%, the softest decline in 14 months.

在中国，上海综合指数周一上涨21点，涨幅0.53%。涨幅最大的是中国国际航空（10.00%）、中国东方航空（7.14%）和中国国际航空公司（6.14%）。最大的损失来自三一重工（-4.70%）、中国神华工程（-1.51%）和内蒙古包头钢铁（-1.48%）。

In China, the Shangai Composite Index went up by 21 points or 0.53 percent on Monday. Top gainers were China International (10.00%), China Eastern Airlin (7.14%) and Air China (6.14%). Biggest losses came from Sany Heavy Industry (-4.70%), China Shenhua Engy (-1.51%) and Inner Mongolia BaoTou Steel (-1.48%).

中国10年期政府债券收益率攀升至1.8%左右，创下近一个月来的最高水平。此前，周末数据显示，10月份消费者价格意外上涨0.2%，从9月份的0.3%跌幅反弹，打破了没有变化的预测。生产者价格指数下跌2.1%，为14个月来最低跌幅。这些数据是在上周的贸易数据显示出口意外下降和进口放缓之后公布的。在贸易方面，北京取消了对美国镓、锗、锑和超硬材料等“两用物品”的出口禁令。中国还豁免了荷兰公司Nexperia民用芯片的出口管制，此举有望缓解汽车制造商和供应商的供应短缺。上个月，中国和美国同意将临时贸易休战再延长一年，在关键问题上相互让步。

China’s 10-year government bond yield climbed to around 1.8%, hitting its highest level in nearly a month after weekend data showed consumer prices unexpectedly rose 0.2% in October, rebounding from a 0.3% decline in September and defying forecasts for no change. Producer prices fell 2.1%, marking the mildest drop in 14 months. These figures followed last week’s trade data that revealed a surprise decline in exports and slowing imports. On the trade front, Beijing lifted its export ban on “dual-use items” such as gallium, germanium, antimony, and super-hard materials to the US. China also granted exemptions to export controls on Dutch firm Nexperia’s chips for civilian use, a move expected to ease supply shortages for automakers and suppliers. Last month, China and the US agreed to extend their temporary trade truce for another year, offering mutual concessions on key issues.

离岸人民币兑美元汇率保持在7.12左右，横盘整理，周末数据显示，中国10月份消费者价格意外上涨0.2%，从9月份0.3%的跌幅反弹，打破了没有变化的预测。上个月生产者价格指数下跌2.1%，为14个月来最低跌幅。这些数据是在上周贸易数据显示出口意外下降和进口放缓之后公布的。在贸易方面，北京取消了对美国的“两用物品”出口禁令，包括镓、锗、锑和超硬材料，并豁免了荷兰公司Nexperia的民用芯片，帮助缓解了汽车制造商的供应短缺。上个月，中国和美国同意将临时贸易休战再延长一年，并在关键问题上做出让步。与此同时，中国人民银行将美元/人民币参考汇率定为7.0856，强于市场预期。

The offshore yuan remained around 7.12 per dollar, trading in a sideways range as weekend data showed consumer prices in China unexpectedly rose 0.2% in October, rebounding from a 0.3% decline in September and defying forecasts for no change. Producer prices fell 2.1% last month, the softest decrease in 14 months. Those figures followed trade data last week pointing to a surprise decline in exports and slowing imports. On the trade front, Beijing lifted its export ban on “dual-use items” including gallium, germanium, antimony, and super-hard materials to the US, and granted exemptions for Dutch firm Nexperia’s chips for civilian use, helping ease supply shortages for automakers. Last month, China and the US agreed to extend their temporary trade truce for another year with concessions on key issues. Meanwhile, the People’s Bank of China set the USD/CNY reference rate at 7.0856, stronger than market expectations.