【HEADLINES】
1. U.S. major indices closed lower on Tuesday (29th), weighed down by rising U.S. Treasury yields and weakening consumer confidence. Investors are awaiting inflation and employment data this week to gauge the Federal Reserve's future interest rate path. The Dow Jones Industrial Average dropped 131.59 points, or 0.26%, to 51,349.92; the S&P 500 fell 12.85 points, or 0.17%, to 7,670.84; the Nasdaq Composite declined 22.84 points, or 0.09%, to 26,797.54.
2. The yield on 30-year U.S. Treasury bonds rose as high as 5.6206%, the highest since June 2002; the benchmark 10-year Treasury yield climbed to 5.293%, the highest since June 2007. New York Fed President Williams said that if the economy evolves broadly as expected, it may be appropriate for the Fed to raise rates once more later this year, but after the September hike, the central bank need not rush its next move. Fed Governor Barr reiterated that the central bank may need to raise rates further to ensure inflation returns to the 2% target in a timely manner.
3. The U.S. government released more strategic petroleum reserves and urged European nations to take similar actions to curb surging fuel prices, while Saudi Aramco raised export prices for liquefied petroleum gas for the third consecutive month. Meanwhile, key OPEC+ members are reportedly considering maintaining unchanged crude oil production quotas at their upcoming weekend meeting.
4. China will implement a nationwide mortgage subsidy of 1 percentage point for first-time homebuyers starting October 1. Additionally, the PBOC has cut the interest rate on its Pledged Supplementary Lending (PSL) by 25 basis points and increased the quota for re-lending to support technological innovation and equipment upgrades by 200 billion yuan. Moreover, the PBOC is reportedly establishing a new re-lending facility to provide low-cost funding to commercial and policy banks to help urban investment firms and local government-related enterprises settle overdue payables.
5. Trump met with AI industry leaders including Jensen Huang and signed a "morally binding" AI agreement. Trump opposes new federal safety regulations, saying he is considering forming a committee of about 10 people to oversee AI.
6. AI startup Anthropic disclosed in its IPO filing that it has signed a computing power agreement with Musk's xAI, with potential spending of up to $84.5 billion by 2029, using computing resources based on NVIDIA (US.NVDA) chips.
7. According to Bloomberg, citing sources, AI firm OpenAI is in talks for a new round of fundraising, aiming to raise at least $30 billion with a pre-money valuation of around $1.4 trillion. The discussions are still in early stages, and terms and final amounts may change. Reuters also confirmed the report citing Bloomberg. Additionally, OpenAI launched a new AI agent "Dots".
8. Apple (US.AAPL) CEO Turrance, nearly a month after taking office, is reportedly initiating reforms. Apple is considering reducing some mid-level management positions, cutting layers between engineers and senior leadership; abandoning the traditional spring and fall release cycles in favor of more frequent product launches throughout the year; and has begun cost-cutting measures, including minor layoffs in teams such as Fitness+.
【STOCK HIGHLIGHTS】
Mainland property stocks: China Overseas (00688), China Resources Land (01109), Longfor Group (00960)
- China to implement a 1 percentage point mortgage subsidy for first-time homebuyers nationwide starting October 1
Mainland banking stocks: Bank of China (03988), Industrial and Commercial Bank of China (01398), China Construction Bank (00939)
- PBOC cuts Pledged Supplementary Lending rate by 0.25 percentage points, increases re-lending quota for technological innovation by 20 billion yuan
Interest-rate sensitive stocks: Sun Hung Kai Properties (00016), Zijin Mining (02899), China Eastern Airlines (00670)
- Fed Governor Barr says further rate hikes may be needed to ensure inflation returns to 2% target
- New York Fed President Williams says one more rate hike later this year may be appropriate if economy meets expectations
Three major oil stocks: PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Oil prices plunged over 3% in a single day amid Qatar mediation signals and partial recovery of Saudi pipeline capacity
Maanshan Iron & Steel (00323)
- Sold all equity in Magang Cihu for RMB 130 million to controlling shareholder
Huan Chuang Technology (06802)
- Oversubscribed 3,545 times, one-lot allocation rate at 2%, dark pool rose 1.87 times with over RMB 10,000 profit, listed today
Mall Group International (00848)
- Huang Weizheng, son of controlling shareholder and non-executive director, proposed privatization at over 100% premium, resumed trading this morning
Jinchuan International (02362)
- Met resumption conditions, applied for resumption this morning
【OIL & GOLD PRICES】
NYMEX crude oil down 0.11%, at $89.33/barrel
Brent crude oil up 0.46%, at $96.18/barrel
Spot gold up 0.05%, at $4,183.69/ounce
Gold futures up 0.05%, at $4,184.85/ounce
1. U.S. major indices closed lower on Tuesday (29th), weighed down by rising U.S. Treasury yields and weakening consumer confidence. Investors are awaiting inflation and employment data this week to gauge the Federal Reserve's future interest rate path. The Dow Jones Industrial Average dropped 131.59 points, or 0.26%, to 51,349.92; the S&P 500 fell 12.85 points, or 0.17%, to 7,670.84; the Nasdaq Composite declined 22.84 points, or 0.09%, to 26,797.54.
2. The yield on 30-year U.S. Treasury bonds rose as high as 5.6206%, the highest since June 2002; the benchmark 10-year Treasury yield climbed to 5.293%, the highest since June 2007. New York Fed President Williams said that if the economy evolves broadly as expected, it may be appropriate for the Fed to raise rates once more later this year, but after the September hike, the central bank need not rush its next move. Fed Governor Barr reiterated that the central bank may need to raise rates further to ensure inflation returns to the 2% target in a timely manner.
3. The U.S. government released more strategic petroleum reserves and urged European nations to take similar actions to curb surging fuel prices, while Saudi Aramco raised export prices for liquefied petroleum gas for the third consecutive month. Meanwhile, key OPEC+ members are reportedly considering maintaining unchanged crude oil production quotas at their upcoming weekend meeting.
4. China will implement a nationwide mortgage subsidy of 1 percentage point for first-time homebuyers starting October 1. Additionally, the PBOC has cut the interest rate on its Pledged Supplementary Lending (PSL) by 25 basis points and increased the quota for re-lending to support technological innovation and equipment upgrades by 200 billion yuan. Moreover, the PBOC is reportedly establishing a new re-lending facility to provide low-cost funding to commercial and policy banks to help urban investment firms and local government-related enterprises settle overdue payables.
5. Trump met with AI industry leaders including Jensen Huang and signed a "morally binding" AI agreement. Trump opposes new federal safety regulations, saying he is considering forming a committee of about 10 people to oversee AI.
6. AI startup Anthropic disclosed in its IPO filing that it has signed a computing power agreement with Musk's xAI, with potential spending of up to $84.5 billion by 2029, using computing resources based on NVIDIA (US.NVDA) chips.
7. According to Bloomberg, citing sources, AI firm OpenAI is in talks for a new round of fundraising, aiming to raise at least $30 billion with a pre-money valuation of around $1.4 trillion. The discussions are still in early stages, and terms and final amounts may change. Reuters also confirmed the report citing Bloomberg. Additionally, OpenAI launched a new AI agent "Dots".
8. Apple (US.AAPL) CEO Turrance, nearly a month after taking office, is reportedly initiating reforms. Apple is considering reducing some mid-level management positions, cutting layers between engineers and senior leadership; abandoning the traditional spring and fall release cycles in favor of more frequent product launches throughout the year; and has begun cost-cutting measures, including minor layoffs in teams such as Fitness+.
【STOCK HIGHLIGHTS】
Mainland property stocks: China Overseas (00688), China Resources Land (01109), Longfor Group (00960)
- China to implement a 1 percentage point mortgage subsidy for first-time homebuyers nationwide starting October 1
Mainland banking stocks: Bank of China (03988), Industrial and Commercial Bank of China (01398), China Construction Bank (00939)
- PBOC cuts Pledged Supplementary Lending rate by 0.25 percentage points, increases re-lending quota for technological innovation by 20 billion yuan
Interest-rate sensitive stocks: Sun Hung Kai Properties (00016), Zijin Mining (02899), China Eastern Airlines (00670)
- Fed Governor Barr says further rate hikes may be needed to ensure inflation returns to 2% target
- New York Fed President Williams says one more rate hike later this year may be appropriate if economy meets expectations
Three major oil stocks: PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Oil prices plunged over 3% in a single day amid Qatar mediation signals and partial recovery of Saudi pipeline capacity
Maanshan Iron & Steel (00323)
- Sold all equity in Magang Cihu for RMB 130 million to controlling shareholder
Huan Chuang Technology (06802)
- Oversubscribed 3,545 times, one-lot allocation rate at 2%, dark pool rose 1.87 times with over RMB 10,000 profit, listed today
Mall Group International (00848)
- Huang Weizheng, son of controlling shareholder and non-executive director, proposed privatization at over 100% premium, resumed trading this morning
Jinchuan International (02362)
- Met resumption conditions, applied for resumption this morning
【OIL & GOLD PRICES】
NYMEX crude oil down 0.11%, at $89.33/barrel
Brent crude oil up 0.46%, at $96.18/barrel
Spot gold up 0.05%, at $4,183.69/ounce
Gold futures up 0.05%, at $4,184.85/ounce
