Investment Daily Note

Despite of continual over-supply in global oil market, the Organizationof the Petroleum Exporting Countries (OPEC) failed to reach a consensus to cut production at a meeting last Friday, keeping daily production target unchanged. Also, OPEC defers the next review of oil production target to a semi-annual meeting June next year, suggesting that oil prices could remain depressed until mid-2016, which would continually putpressure on oil stocks.

Shanghai Securities News reported, citing sources from the Ministry of Industry and Information Technology,that under the Guiding Opinions on Actively Promoting the "Internet Plus" Action Plan, draft work on a three-year short-term implementation proposal about Internet Plus has been finished, jointly signed and would be announced shortly. We expect “Internet-Plus” sector to benefit from the news and to attract capital flow under the currently uncertain market conditions.