《Economic Information Daily, special report on the 28th》The Xi-Trump meeting has concluded, with U.S. President Trump announcing that the two leaders will meet again at the APEC and G20 summits. Last Friday, the U.S. stock market sentiment was positive. News emerged that U.S.-Iran talks had entered a technical consultation phase, causing oil prices to retreat, and all three major indices closed higher; the Dow rose 478 points to 51,828, the Nasdaq rose 129 points to 27,068, and the S&P rose 39 points to 7,743.
The U.S. enters a "key data week" this week, drawing close market attention. The U.S. will release August PCE price data on Wednesday (30th), with an expected year-on-year increase of 3.8%, accelerating by 0.1 percentage points compared to last month. As for core PCE price data excluding energy and food, the expected year-on-year increase is 3.4%, also accelerating by 0.1 percentage points compared to last month. On Friday (October 2nd), the U.S. will release September non-farm employment data, expected to add only 90,000 jobs, far below the previous month's addition of 162,000.
*Chinese ADRs and overseas-listed stocks weaker*
Chinese概念股 moved lower: Alibaba fell 0.80% to $109.74, Pinduoduo dropped 0.81% to $77.57, JD.com declined 0.90% to $26.51, Baidu fell 0.85% to $87.33, Li Auto dropped 2.38% to $11.50, NIO declined 1.38% to $3.58, XPeng fell 1.27% to $10.12, Beike dropped 2.16% to $16.33, Ctrip declined 1.52% to $39.43.
ADR prices showed mixed movements compared to the closing levels of their Hong Kong counterparts last Friday: Tencent (00700) ADR was 0.03% lower than its Hong Kong share, equivalent to HK$436.5; Xiaomi (01810) ADR was 0.05% higher, equivalent to HK$25.9; Meituan (03690) ADR was 0.50% lower, equivalent to HK$71.3; AIA (01299) ADR was 0.59% lower, equivalent to HK$73.3; HSBC (00005) ADR was 0.48% higher, equivalent to HK$158.4; HKEX (00388) ADR was 0.04% higher, equivalent to HK$388.5.
*Bulls quietly deploying below 25,000*
Following news that U.S.-Iran talks have entered a technical consultation phase, Trump also announced that negotiations will resume this week. U.S. media reported that new indirect talks between the U.S. and Iran could begin as early as Monday, with mediators such as Qatar currently mediating. However, Trump has already rejected Iran's proposal to reopen the Strait of Hormuz, while Iranian Foreign Minister Araghchi stated they would wait for mediators to convey the U.S. final position. Asian markets moved mixed this morning, with Japanese stocks rising 0.6% and South Korean stocks falling over 1%. The HS50 index, reflecting expectations for Hong Kong stocks, is currently at 24,493, down 3 points, 17 points below the current Hang Seng Index futures, suggesting the Hang Seng Index opening is expected to fluctuate within 100 points.
Last Friday, Hong Kong stocks plunged over 500 points at one point. Besides the reduced support due to halted northbound flows, market disappointment over the lack of significant AI cooperation agreements from the Xi-Trump meeting also weighed on the decline. The Hang Seng Index hit a new low of over two and a half months. According to the distribution of bull and bear warrants, after the sharp drop, bearish positions rapidly retreated lower. However, the area just above 24,000, specifically 24,100 to 24,199, has accumulated 988 corresponding futures contracts, becoming the heaviest position zone. The next level, 24,000 to 24,099, saw a net increase of 466 contracts to 801, becoming the zone with the most new positions, indicating bulls still tend to bet on support at 24,000. It remains to be seen whether northbound funds, with only three trading days left before the National Day holiday, will maintain their support strength to confirm support at the round number level. (hc)
The U.S. enters a "key data week" this week, drawing close market attention. The U.S. will release August PCE price data on Wednesday (30th), with an expected year-on-year increase of 3.8%, accelerating by 0.1 percentage points compared to last month. As for core PCE price data excluding energy and food, the expected year-on-year increase is 3.4%, also accelerating by 0.1 percentage points compared to last month. On Friday (October 2nd), the U.S. will release September non-farm employment data, expected to add only 90,000 jobs, far below the previous month's addition of 162,000.
*Chinese ADRs and overseas-listed stocks weaker*
Chinese概念股 moved lower: Alibaba fell 0.80% to $109.74, Pinduoduo dropped 0.81% to $77.57, JD.com declined 0.90% to $26.51, Baidu fell 0.85% to $87.33, Li Auto dropped 2.38% to $11.50, NIO declined 1.38% to $3.58, XPeng fell 1.27% to $10.12, Beike dropped 2.16% to $16.33, Ctrip declined 1.52% to $39.43.
ADR prices showed mixed movements compared to the closing levels of their Hong Kong counterparts last Friday: Tencent (00700) ADR was 0.03% lower than its Hong Kong share, equivalent to HK$436.5; Xiaomi (01810) ADR was 0.05% higher, equivalent to HK$25.9; Meituan (03690) ADR was 0.50% lower, equivalent to HK$71.3; AIA (01299) ADR was 0.59% lower, equivalent to HK$73.3; HSBC (00005) ADR was 0.48% higher, equivalent to HK$158.4; HKEX (00388) ADR was 0.04% higher, equivalent to HK$388.5.
*Bulls quietly deploying below 25,000*
Following news that U.S.-Iran talks have entered a technical consultation phase, Trump also announced that negotiations will resume this week. U.S. media reported that new indirect talks between the U.S. and Iran could begin as early as Monday, with mediators such as Qatar currently mediating. However, Trump has already rejected Iran's proposal to reopen the Strait of Hormuz, while Iranian Foreign Minister Araghchi stated they would wait for mediators to convey the U.S. final position. Asian markets moved mixed this morning, with Japanese stocks rising 0.6% and South Korean stocks falling over 1%. The HS50 index, reflecting expectations for Hong Kong stocks, is currently at 24,493, down 3 points, 17 points below the current Hang Seng Index futures, suggesting the Hang Seng Index opening is expected to fluctuate within 100 points.
Last Friday, Hong Kong stocks plunged over 500 points at one point. Besides the reduced support due to halted northbound flows, market disappointment over the lack of significant AI cooperation agreements from the Xi-Trump meeting also weighed on the decline. The Hang Seng Index hit a new low of over two and a half months. According to the distribution of bull and bear warrants, after the sharp drop, bearish positions rapidly retreated lower. However, the area just above 24,000, specifically 24,100 to 24,199, has accumulated 988 corresponding futures contracts, becoming the heaviest position zone. The next level, 24,000 to 24,099, saw a net increase of 466 contracts to 801, becoming the zone with the most new positions, indicating bulls still tend to bet on support at 24,000. It remains to be seen whether northbound funds, with only three trading days left before the National Day holiday, will maintain their support strength to confirm support at the round number level. (hc)
