Next week's major events: "Tech Spring Festival Gala" CES, Maduro may stand trial in the US, US Nonfarm Payrolls, Zhipu and MiniMax to list on Hong Kong stocks

Next week's major events: "Tech Spring Festival Gala" CES, Maduro may stand trial in the US, US Nonfarm Payrolls, Zhipu and MiniMax to list on Hong Kong stocks

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Overview of Major Financial Events for the Week of January 5 to January 11 (Beijing Time):

Focus for Next Week: On the macroeconomic front, China will release intensive December data including CPI, PPI, and financial statistics, while the US December non-farm payroll report will also be unveiled. In technology, the "Spring Festival Gala of Technology", CES, will be held from January 4 to 9 in Las Vegas. Numerous tech giants, including Nvidia CEO Jensen Huang and AMD CEO Lisa Su, will attend. In capital markets, many China/Hong Kong tech companies such as Zhipu, MiniMax, KeenSurgical, Enflame Technology, and GigaDevice will pursue IPOs; Zhipu and MiniMax are about to start trading.

Meanwhile, South Korean President Lee Jae-myung will make his first visit to China to strengthen China-ROK economic cooperation. Politically, Venezuelan President Maduro may stand trial in the US, while Ukrainian President Zelensky will have another round of talks with the US. International geopolitical dynamics also warrant attention. The annual rebalancing of the Bloomberg Commodity Index, especially the "technical selling" warning of gold and silver, will affect global commodity markets.

Economic Indicators

  • China December CPI & PPI

On Friday, January 9, China will release December CPI and PPI data. Zheshang Securities expects December CPI YoY to remain at 0.7%, flat from last month, and the MoM figure may turn from negative to neutral. The YoY decline in PPI is expected to narrow to -1.9% from -2.2%. Pork and oil prices continued to fall this month, and core CPI may keep warming up. On the industrial side, the inventory cycle struggles to support prices, and capacity clearance in midstream manufacturing may take some time.

  • China January to December Financial Data: Aggregate Financing, RMB Loans, etc.

Next week, China's December financial data will be published, possibly after January 9. Zheshang Securities estimates new RMB loans at about 900 billion yuan in December, aggregate social financing increase at about 2.2 trillion yuan, though both may decrease YoY, and broad money (M2) growth could edge down.

  • US December Non-Farm Payroll Data

On Friday, January 9, the US will release the December non-farm payroll report. Current market expectation is for an increase of about 55,000 jobs, with the unemployment rate staying at 4.6%. Bloomberg Economics is more optimistic, forecasting 80,000 job additions. The key focus is the contradiction between employment growth and a high unemployment rate. The result will directly affect market views on US economic resilience and the Fed’s policy path.

Financial Events

  • "Spring Festival Gala of Technology" CES to be held January 4-9; Jensen Huang, Lisa Su, and others to speak

The annual "Spring Festival Gala of Technology"—the 2026 Consumer Electronics Show (CES)—will be held January 4-9 in Las Vegas, USA. CES has always been a major platform for tech companies to debut new products and share concept designs still in development.

Nvidia CEO Jensen Huang and AMD CEO Lisa Su will deliver keynote speeches on January 5 (Tuesday morning, Beijing time). Asian tech leaders including Alibaba, Lenovo, Samsung, LG, etc., will gather in Las Vegas. Intel’s fate in the foundry business hinges on its first “18A” chip, which will be unveiled at the event.

Jensen Huang's keynote: January 5, 4:00–5:30 PM EST; Intel's press conference: 6:00–7:00 PM EST; Lisa Su's keynote: 9:30–10:45 PM EST, same day (all EST).

This year’s CES will focus on AI hardware, including smart glasses and wearables. Meta, Snap, and Apple will all participate; while they may not launch new devices, they are expected to show the latest software and applications. Several AI humanoid robots will also be displayed—some for home use, more for business applications in manufacturing, logistics, and food service.

  • Maduro may appear in US Federal Court in New York on January 5

According to CCTV News, Venezuelan President Maduro could appear as early as January 5 in US federal court in Manhattan, New York. However, this schedule may change.

As of January 3 local time, the plane carrying Maduro had arrived in New York. In the early morning of the 3rd, an explosion and air raid siren sounded in Caracas, the Venezuelan capital. Subsequently, US President Trump announced that the US military had successfully conducted an operation in Venezuela, capturing President Maduro and his wife, and brought them out of the country. Trump said the Maduro couple had been brought onto the US Navy's USS Iwo Jima, en route to New York, and will face US justice. Trump stated that he watched the US Special Forces capture Maduro live "like a television show," and saw "every detail." Trump also told US media that the US will deeply intervene in Venezuela’s oil industry.

Citing informed sources, the US Department of Justice is expected to bring new charges against Maduro and his wife in New York and submit a supplemental indictment. Previously, Maduro was indicted in New York in 2020. The cases allege a decades-long conspiracy, providing political and military protection to narcoterrorists, and stealing billions in state funds.

  • Zelensky announces new round of Ukraine-US talks on January 6

According to CCTV News, on January 3, Ukrainian President Zelensky announced he will meet US President Trump's team in Paris on January 6. Zelensky said he will visit Paris, with a key goal to finalize details of a Ukraine security guarantee document under the "Coalition of the Willing" framework, and to sign a joint statement to be submitted to parliaments of relevant countries for approval. US participation level will be announced by the White House.

  • Bloomberg Commodity Index (BCOM) annual rebalancing to be held January 8-14, 2026

A foreseeable "technical storm" driven by index rules is coming, focusing especially on gold and silver, which have outperformed for three years in a row and now have overweighted proportions in the BCOM. JPMorgan warns that passive funds will be forced into "technical selling" during the 2026 rebalancing. It is estimated that futures sell orders could account for 9% of silver’s and 3% of gold’s total open interest.

  • Zhipu Hong Kong IPO, shares expected to start trading January 8

“First foundation model IPO” Zhipu: Hong Kong IPO price is HKD 116.2, planning to issue over 37 million shares at HKD 116.20 per share. Shares expected to start trading January 8.

  • MiniMax Hong Kong IPO, pricing expected January 7, trading starts January 9

MiniMax Group to issue 25.4 million shares in HK IPO, price guidance of HKD 151-165 per share. According to Bloomberg, up to HKD 4.19 billion may be raised. Pricing expected January 7, trading to begin January 9. Cornerstone investors include Abu Dhabi Investment Authority, Alibaba, Aspex Master Fund, Boyu Capital.

  • KeenSurgical Hong Kong IPO, shares expected to start trading January 8

Surgical robot manufacturer KeenSurgical seeks to raise HKD 1.2 billion via HK IPO, issuing 22.7 million shares at HKD 43.24 each. Shares expected to start trading January 8.

  • Enflame Technology Hong Kong IPO, shares expected to start trading January 8

Shanghai Enflame Technology seeks to raise HKD 3.68 billion via HK IPO, issuing 25.4 million shares at HKD 144.60 per share. Shares expected to start trading January 8.

  • GigaDevice Hong Kong IPO, pricing expected January 9, trading starts January 13

GigaDevice Semiconductor Inc. applies for HK IPO, seeking to issue 28.9 million shares; top end of price range is HKD 162/share. Pricing expected January 9, trading to start January 13.

  • South Korean President Lee Jae-myung to make first visit to China January 4-7

According to Global Times, South Korean President Lee Jae-myung will make a state visit to China January 4–7, 2026, his first since taking office. Yonhap News reports over 200 businesspeople—including the heads of Samsung, SK, Hyundai, and LG—will form an economic delegation accompanying Lee. Korea will also commemorate the 150th anniversary of independence movement leader Kim Gu's birth and the 100th anniversary of the Provisional Government site in Shanghai.

  • Lenovo to jointly release enterprise-grade AI product with Nvidia on January 6

Recently, Lenovo Chairman/CEO Yang Yuanqing spoke with NVIDIA CEO Jensen Huang, who said AI is evolving from “generative AI” to “agentic AI”, which can solve problems and reason based on facts. They agree the next core opportunity for AI is in “hybrid intelligence.” Lenovo and Nvidia will co-release a major enterprise-grade AI product at Lenovo’s Innovation Technology Conference, January 6. Huang said their partnership could expand fivefold within two years.

  • State Council Information Office to hold press conference January 5 on ten-year Yangtze River Economic Belt progress

The State Council Information Office will hold a press conference at 10am, January 5, 2026 (Monday). Officials from the National Development and Reform Commission and various ministries will introduce the progress and effectiveness of the 10-year Yangtze River Economic Belt initiative and take questions.

  • State Council Information Office to hold press conference January 6 on promoting green consumption

At 3pm on January 6, 2026 (Tuesday), the State Council Information Office will hold a press conference. Vice Minister of Commerce Sheng Qiuping and other officials will introduce progress in promoting green consumption and take questions.

  • 2026 Childcare Subsidy to Open for Applications Nationwide Starting January 5

According to CCTV News, childcare subsidies have been issued in all 31 provinces, with over 24 million people receiving them and a disbursement rate of about 80% for 2025. According to plans, 2026 subsidies will open for application on January 5, after a system upgrade January 1–4.

  • AliExpress Apparently "Challenges" Amazon: Meet in Hangzhou, January 7

On December 23, AliExpress released a "boxing match" poster, text: "See you in Hangzhou, January 7." Insiders note the red and black boxing gloves reflect AliExpress and Amazon's brand colors, and AliExpress is publicly challenging Amazon. According to Wallstreetcn, AliExpress will hold a global brand conference in Hangzhou on January 7, 2026, mostly inviting major exporters. Amazon's annual merchant conference was also recently held in Hangzhou.

  • Eurogroup: Eurozone countries must submit European Central Bank Vice President nominees by January 9

Eurogroup: Eurozone members must submit ECB Vice President nominees by January 9. Finance ministers will decide on January 19.

  • AMEC: Plans to issue shares and pay cash to acquire 64.69% of Hangzhou Zhonggui, shares resume trading January 5

AMEC plans to acquire 64.69% equity of Hangzhou Zhonggui from 41 counterparties by issuing shares and paying cash. It will also raise supporting funds through private placement. The target company’s main business is CMP equipment R&D, production, and sales. Through this transaction, AMEC will become a company with strengths in “etching + deposition + measurement + wet process.” Shares resume trading January 5, 2026.

  • Earnings Reports

January 8, Thursday: Fast Retailing, Aeon, RPM International, Jefferies Financial.

January 9, Friday: Yaskawa Electric.

Risk Warning & DisclaimerThe market has risks, investment requires caution. This article does not constitute personal investment advice and does not consider users' specific objectives, financial situation, or needs. Users should consider if any opinions or conclusions herein fit their situation. Any investment action is at the user's own risk. ```