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On February 9th, the China Passenger Car Association (CPCA) released a report stating that in 2026, the penetration rate of new energy vehicles in light commercial vehicles will continue to increase, with the overall penetration rate expected to reach 43%, including 34% for light trucks, 32% for mini-trucks, and 75% for light buses. The light commercial vehicle market in 2026 is expected to remain generally stable amidst structural adjustments, entering a new phase dominated by existing market share. Sales are expected to remain within a specific range, with growth primarily driven by the deepening of new energy transformation and expansion into overseas markets. Under the guidance of high-quality development, new energy penetration continues to accelerate, with overseas exports becoming a key pillar, and technological competition focusing on intelligentization. In 2025, light commercial vehicle sales reached 2.901 million units, a year-on-year increase of 6.5%. In 2026, sales are expected to increase slightly by 0.3%, reaching approximately 2.911 million units for the year.

ECB Governing Council member Simkus: The economic environment is extremely fragile.

ECB Governing Council member Simkus: Interest rates are at a neutral level, and economic growth is close to its potential level.

February 9th - Analysts point out that gold prices rebounded above $5,000 per ounce, influenced by a weaker dollar and traders awaiting key US data releases later this week. ANZ analysts stated, "Investors have reaffirmed their long-term bullish view on precious metals." Research data shows that despite recent sell-offs, large institutional investors remain optimistic about gold, a view echoed by the People's Bank of China, which increased its gold holdings for the 15th consecutive month in January. Traders are currently awaiting US non-farm payroll data and the Consumer Price Index for further clues regarding the path of interest rate cuts.

February 9th Futures News: The following are the warehouse receipts and changes for various commodities traded on the Shanghai Futures Exchange: 1. International copper futures warehouse receipts: 12,564 tons, a decrease of 103 tons from the previous trading day; 2. Alumina futures warehouse receipts: 242,626 tons, an increase of 242,626 tons from the previous trading day; 3. Low-sulfur fuel oil warehouse futures warehouse receipts: 23,140 tons, unchanged from the previous trading day; 4. Zinc futures warehouse receipts: 31,264 tons, an increase of 176 tons from the previous trading day; 5. Medium-sulfur crude oil futures warehouse receipts: 3,464,000 barrels, unchanged from the previous trading day; 6. Stainless steel warehouse futures warehouse receipts: 53,463 tons, an increase of 5,723 tons from the previous trading day; 7. Lead futures warehouse receipts: 40,773 tons, an increase of 4,968 tons from the previous trading day; 8. Pulp warehouse futures warehouse receipts: 131,447 tons, unchanged from the previous trading day; 9. 10. Pulp mill futures warehouse receipts: 15,000 tons, unchanged from the previous trading day; 112,570 tons of natural rubber futures warehouse receipts, an increase of 500 tons from the previous trading day; 243,776 tons of hot-rolled coil futures warehouse receipts, an increase of 23,197 tons from the previous trading day; 6,337 tons of tin futures warehouse receipts, a decrease of 379 tons from the previous trading day; 51,004 tons of TSR20 rubber futures warehouse receipts, unchanged from the previous trading day; 318,546 kg of silver futures warehouse receipts, a decrease of 31,354 kg from the previous trading day; 104,052 kg of gold futures warehouse receipts, unchanged from the previous trading day; 32,270 tons of butadiene rubber futures warehouse receipts, an increase of 32,270 tons from the previous trading day; 17. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 18. Petroleum asphalt plant warehouse futures warehouse receipts: 26,490 tons, unchanged from the previous trading day; 19. Petroleum asphalt warehouse futures warehouse receipts: 13,580 tons, unchanged from the previous trading day; 20. Aluminum futures warehouse receipts: 164,512 tons, an increase of 8,979 tons from the previous trading day; 21. Nickel futures warehouse receipts: 51,721 tons, an increase of 447 tons from the previous trading day; 22. Rebar warehouse futures warehouse receipts: 15,710 tons, a decrease of 305 tons from the previous trading day; 23. Copper futures warehouse receipts: 157,128 tons, a decrease of 3,044 tons from the previous trading day.

ECB Governing Council member Simkus: The probability of the next rate hike or cut is 50/50.

Vito Group, a commodities trader, estimates that global oil demand could reach approximately 112 million barrels per day at its peak.

Vito Group, a commodities trader, predicts that peak oil demand has been pushed back to the mid-1930s.

The onshore yuan closed at 6.9284 against the US dollar at 16:30 on February 9, up 117 points from the previous trading day.

The Ministry of Industry and Information Technology has released the "Catalogue of New Energy Vehicle Models Eligible for Vehicle Purchase Tax Reduction and Exemption" (Batch 27), which includes several models such as the Xiaomi SU7 and BYD Formula Leopard Titanium 3.

On February 9th, VMS announced that in 2025, the company achieved total operating revenue of RMB 6.342 billion, a slight decrease of 0.48% year-on-year; net profit attributable to owners of the parent company was RMB 557 million, an increase of 39.22% year-on-year; and net profit excluding non-recurring items was RMB 521 million, an increase of 46.71% year-on-year. This was mainly due to the growth in domestic sales of new energy vehicles, resulting in both increased sales volume and price of the company's on-board power supply products, as well as optimized product shipment structure. As of the end of 2025, the company's total assets were RMB 8.226 billion, an increase of 6.96% year-on-year; and equity attributable to owners of the parent company was RMB 3.626 billion, an increase of 10.89% year-on-year. The data in this announcement are preliminary and unaudited; the final figures will be subject to the annual report.

On February 9th, Hygon Information stated on its interactive platform that as a specialized computing chip for a specific field, the company has always closely monitored the technological development trends and market demand changes of TPU chips. To date, the company's business layout is still focused on core strategic products and has not yet involved TPU chips.

Tokyo Electric Power Company (TEPCO) said on the 9th that Unit 6 of the Kashiwazaki-Kariwa nuclear power plant, which had been temporarily shut down to investigate the cause of the malfunction, was restarted on the same day.

Total Energy: Construction is scheduled to begin in the second quarter of 2026.

The U.S. says Total Energy will provide 1 gigawatt of solar power capacity for Google’s data center in Texas for 15 years.

On Monday, February 9th, the German DAX 30 index opened up 222.78 points, or 0.90%, at 24942.58; the UK FTSE 100 index opened up 44.55 points, or 0.43%, at 10414.30; the French CAC 40 index opened up 38.80 points, or 0.47%, at 8312.64; the Euro Stoxx 50 index opened up 40.25 points, or 0.67%, at 6038.65; the Spanish IBEX 35 index opened up 200.30 points, or 1.12%, at 18143.60; and the Italian FTSE MIB index opened up 582.30 points, or 1.27%, at 46459.50.

The Hang Seng Index closed up 467.21 points, or 1.76%, at 27,027.16 on Monday, February 9; the Hang Seng Tech Index closed up 71.4 points, or 1.34%, at 5,417.6; the H-share Index closed up 136.95 points, or 1.52%, at 9,168.33; and the Red Chip Index closed up 34.79 points, or 0.8%, at 4,395.49.

Taiwan's imports rose 63.6% year-on-year in January, below the expected 40.85% and the previous month's 14.90%.