{Economic Information Daily, 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 (25th), the U.S. stock market sentiment was positive. On that day, news emerged that U.S.-Iran negotiations had entered a technical consultation phase, causing oil prices to retreat slightly, and the three major indices closed higher; the Dow rose 478 points to 51828, the Nasdaq rose 129 points to 27068, and the S&P rose 39 points to 7743.
The U.S. enters a 'heavyweight 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 the 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 (2nd), the U.S. will release September non-farm employment data, expected to increase by only 90,000, far below the previous month's increase of 162,000.
*Chinese ADRs and A-shares lean weak*
Chinese ADRs trended weaker: Alibaba fell 0.80% to $109.74, Pinduoduo fell 0.81% to $77.57, JD.com fell 0.90% to $26.51, Baidu fell 0.85% to $87.33, Li Auto fell 2.38% to $11.50, NIO fell 1.38% to $3.58, XPeng fell 1.27% to $10.12, Beike fell 2.16% to $16.33, Ctrip fell 1.52% to $39.43.
ADR prices showed mixed movements compared to the previous Friday's closing prices of their corresponding Hong Kong stocks: Tencent (00700) ADR was 0.03% lower than its Hong Kong counterpart, 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 reports that U.S.-Iran talks have entered a technical consultation phase, Trump also announced that the two countries will resume negotiations within this week. U.S. media reported that new indirect talks between the U.S. and Iran are expected as early as Monday, with mediators such as Qatar currently mediating. However, Trump has already stated his rejection of Iran's proposal to reopen the Strait of Hormuz, although Iranian Foreign Minister Araghchi said they would wait for the mediators to convey the U.S. final opinion. Asian markets showed mixed performance 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 24493, down 3 points, 17 points below the current Hang Seng Index spot level, suggesting the Hang Seng Index opening is likely to fluctuate within 100 points.
Last Friday, Hong Kong stocks plunged over 500 points during trading. Apart from the reduced support due to the halt of northbound funds, the market was slightly disappointed by the lack of significant AI cooperation agreements from the Xi-Trump meeting, contributing to the decline. The Hang Seng Index hit a new low of over two and a half months. Referring to the distribution of Hang Seng Index bull and bear warrants, after the sharp drop, bearish positions rapidly retreated downwards. However, the area just above 24000, specifically 24100 to 24199, has accumulated 988 corresponding futures contracts, becoming the heaviest position zone. The next tier, 24000 to 24099, saw a net increase of 466 corresponding futures contracts to 801, becoming the zone with the most new positions, indicating bulls still tend to bet on support at 24000. Observing whether northbound funds maintain their support strength during the three remaining trading days before the National Day holiday will be crucial to confirming the support at this round number. (hc)
The U.S. enters a 'heavyweight 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 the 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 (2nd), the U.S. will release September non-farm employment data, expected to increase by only 90,000, far below the previous month's increase of 162,000.
*Chinese ADRs and A-shares lean weak*
Chinese ADRs trended weaker: Alibaba fell 0.80% to $109.74, Pinduoduo fell 0.81% to $77.57, JD.com fell 0.90% to $26.51, Baidu fell 0.85% to $87.33, Li Auto fell 2.38% to $11.50, NIO fell 1.38% to $3.58, XPeng fell 1.27% to $10.12, Beike fell 2.16% to $16.33, Ctrip fell 1.52% to $39.43.
ADR prices showed mixed movements compared to the previous Friday's closing prices of their corresponding Hong Kong stocks: Tencent (00700) ADR was 0.03% lower than its Hong Kong counterpart, 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 reports that U.S.-Iran talks have entered a technical consultation phase, Trump also announced that the two countries will resume negotiations within this week. U.S. media reported that new indirect talks between the U.S. and Iran are expected as early as Monday, with mediators such as Qatar currently mediating. However, Trump has already stated his rejection of Iran's proposal to reopen the Strait of Hormuz, although Iranian Foreign Minister Araghchi said they would wait for the mediators to convey the U.S. final opinion. Asian markets showed mixed performance 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 24493, down 3 points, 17 points below the current Hang Seng Index spot level, suggesting the Hang Seng Index opening is likely to fluctuate within 100 points.
Last Friday, Hong Kong stocks plunged over 500 points during trading. Apart from the reduced support due to the halt of northbound funds, the market was slightly disappointed by the lack of significant AI cooperation agreements from the Xi-Trump meeting, contributing to the decline. The Hang Seng Index hit a new low of over two and a half months. Referring to the distribution of Hang Seng Index bull and bear warrants, after the sharp drop, bearish positions rapidly retreated downwards. However, the area just above 24000, specifically 24100 to 24199, has accumulated 988 corresponding futures contracts, becoming the heaviest position zone. The next tier, 24000 to 24099, saw a net increase of 466 corresponding futures contracts to 801, becoming the zone with the most new positions, indicating bulls still tend to bet on support at 24000. Observing whether northbound funds maintain their support strength during the three remaining trading days before the National Day holiday will be crucial to confirming the support at this round number. (hc)
