【HEADLINES】
1. US stocks rose across the board last Friday (2nd), as September's non-farm payroll data fell far short of expectations, further cooling market expectations for a Fed rate hike at the end of this month, boosting tech stocks and interest-sensitive shares. However, US Treasury yields, after an initial sharp decline, rebounded, limiting market gains. The Dow closed up 250.4 points, or 0.49%, at 51,176.96; the S&P 500 rose 56.27 points, or 0.73%, to 7,722.72; the Nasdaq gained 319.27 points, or 1.19%, to 27,190.86. The Nasdaq briefly hit a record high during the session, reaching 27,353.68. The China Golden Dragon Index was flat. The Nikkei opened at 69,561.5, down 99.5 points. Northbound trading remained closed.
2. The US Bureau of Labor Statistics reported that non-farm payrolls increased by only 29,000 in September, far below the expected 90,000; the unemployment rate rose from 4.1% in August to 4.2%, slightly above expectations. The market now assigns nearly 79% probability to the Fed holding rates steady at its October meeting.
3. Yemeni forces backed by Saudi Arabia launched a full-scale offensive to retake areas controlled by Houthi militants. Brent crude futures rose in early Asian trading on Monday.
4. US Treasury Secretary Bessent stated that the recent rise in US bond yields aligns with global trends and does not require panic. He argued that the impact of the Iran conflict has overshadowed the underlying strength of the US economy and noted robust consumer spending.
5. US President Trump said on social media Friday that Europe has agreed to "massively" release diesel reserves, with actions to begin immediately. Subsequently, the G7 issued a joint statement confirming coordinated emergency releases of 100 million barrels of oil and petroleum products through the International Energy Agency (IEA) over four months.
6. Reports indicate the UK is preparing to impose tariffs on Chinese electric vehicles to meet EU demands. The EU has made it clear that if the UK does not act on tariffs, it may be excluded from the 'Made in Europe' initiative.
7. Trump announced the formation of a super-intelligence task force, appointing National Intelligence Director Claiton to help lead the White House AI task force; US Treasury Secretary Bessent criticized AI risk warnings as alarmist, urging the industry to self-regulate and propose solutions. He also said he would seek to establish a bilateral notification mechanism with China to reduce risks.
8. Shaken by France's fiscal crisis, the yield spread between French and German 10-year government bonds hit its highest level since the eurozone debt crisis. Investors are wary of signs of risk spillover, watching whether the European Central Bank will slow rate hikes or adjust quantitative tightening.
9. Toshiba (US.TOSYY) plans to invest about 60 billion yen (approximately $380 million) to expand its Philippine plant, aiming to double its AI data center HDD production capacity by the fiscal year ending 2027. Storage chip stocks were under pressure Friday, with Seagate Technology and Western Digital falling about 14% and 9% respectively.
10. Tesla (US.TSLA) reported delivering 486,500 vehicles from July to September, about 6.5% above Visible Alpha analysts' consensus estimates and up approximately 1.3% from Q2's 480,120 vehicles.
11. The provisional estimate of total retail sales value in Hong Kong in August was HK$32.1 billion, up 5.6% compared to the same month in 2025; after adjusting for price changes, the volume of sales increased 2.9% year-on-year.
【STOCK HIGHLIGHTS】
Interest-sensitive stocks: Sun Hung Kai Properties (00016), Zijin Mining (02899), China Eastern Airlines (00670)
- US non-farm payrolls rose by only 29,000 in September, far below the expected 90,000
- Interest rate futures indicate a 77% chance the Fed will keep rates unchanged in October
The 'Three Oil Giants': PetroChina (00857), CNOOC (00883), Sinopec (00386)
- G7 announces coordinated release of up to 100 million barrels of diesel, crude oil, and petroleum products via the IEA
New World (00017)
- Reports suggest US private equity firm Bain Capital is considering investing in New World, with the Cheng family potentially injecting fresh capital simultaneously
Budweiser APAC (01876)
- Restructuring costs and receivables provisions totaling $82 million expected to negatively impact Q3 profit
CATL (03750), BYD (01211)
- Tesla's Q3 vehicle deliveries exceeded expectations
Infinitus Industrial (01710)
- 75% stake may transfer to Luxshare Precision (02475) under memorandum; shares resume trading this morning
Xiaomi Group (01810)
- Repurchased 4.11 million shares for HK$100 million last Friday, with a maximum price of HK$24.26 per share
Jinjin Reproductive (01951)
- Dividend payouts for 2027 and 2028 expected to account for up to 40% of adjusted EBITDA
【OIL & GOLD QUOTES】
NYMEX crude oil down 0.09%, at $91.03/barrel
Brent crude down 0.66%, at $102.04/barrel
Spot gold up 0.22%, at $4,149.94/oz
Gold futures up 0.36%, at $4,177.40/oz
1. US stocks rose across the board last Friday (2nd), as September's non-farm payroll data fell far short of expectations, further cooling market expectations for a Fed rate hike at the end of this month, boosting tech stocks and interest-sensitive shares. However, US Treasury yields, after an initial sharp decline, rebounded, limiting market gains. The Dow closed up 250.4 points, or 0.49%, at 51,176.96; the S&P 500 rose 56.27 points, or 0.73%, to 7,722.72; the Nasdaq gained 319.27 points, or 1.19%, to 27,190.86. The Nasdaq briefly hit a record high during the session, reaching 27,353.68. The China Golden Dragon Index was flat. The Nikkei opened at 69,561.5, down 99.5 points. Northbound trading remained closed.
2. The US Bureau of Labor Statistics reported that non-farm payrolls increased by only 29,000 in September, far below the expected 90,000; the unemployment rate rose from 4.1% in August to 4.2%, slightly above expectations. The market now assigns nearly 79% probability to the Fed holding rates steady at its October meeting.
3. Yemeni forces backed by Saudi Arabia launched a full-scale offensive to retake areas controlled by Houthi militants. Brent crude futures rose in early Asian trading on Monday.
4. US Treasury Secretary Bessent stated that the recent rise in US bond yields aligns with global trends and does not require panic. He argued that the impact of the Iran conflict has overshadowed the underlying strength of the US economy and noted robust consumer spending.
5. US President Trump said on social media Friday that Europe has agreed to "massively" release diesel reserves, with actions to begin immediately. Subsequently, the G7 issued a joint statement confirming coordinated emergency releases of 100 million barrels of oil and petroleum products through the International Energy Agency (IEA) over four months.
6. Reports indicate the UK is preparing to impose tariffs on Chinese electric vehicles to meet EU demands. The EU has made it clear that if the UK does not act on tariffs, it may be excluded from the 'Made in Europe' initiative.
7. Trump announced the formation of a super-intelligence task force, appointing National Intelligence Director Claiton to help lead the White House AI task force; US Treasury Secretary Bessent criticized AI risk warnings as alarmist, urging the industry to self-regulate and propose solutions. He also said he would seek to establish a bilateral notification mechanism with China to reduce risks.
8. Shaken by France's fiscal crisis, the yield spread between French and German 10-year government bonds hit its highest level since the eurozone debt crisis. Investors are wary of signs of risk spillover, watching whether the European Central Bank will slow rate hikes or adjust quantitative tightening.
9. Toshiba (US.TOSYY) plans to invest about 60 billion yen (approximately $380 million) to expand its Philippine plant, aiming to double its AI data center HDD production capacity by the fiscal year ending 2027. Storage chip stocks were under pressure Friday, with Seagate Technology and Western Digital falling about 14% and 9% respectively.
10. Tesla (US.TSLA) reported delivering 486,500 vehicles from July to September, about 6.5% above Visible Alpha analysts' consensus estimates and up approximately 1.3% from Q2's 480,120 vehicles.
11. The provisional estimate of total retail sales value in Hong Kong in August was HK$32.1 billion, up 5.6% compared to the same month in 2025; after adjusting for price changes, the volume of sales increased 2.9% year-on-year.
【STOCK HIGHLIGHTS】
Interest-sensitive stocks: Sun Hung Kai Properties (00016), Zijin Mining (02899), China Eastern Airlines (00670)
- US non-farm payrolls rose by only 29,000 in September, far below the expected 90,000
- Interest rate futures indicate a 77% chance the Fed will keep rates unchanged in October
The 'Three Oil Giants': PetroChina (00857), CNOOC (00883), Sinopec (00386)
- G7 announces coordinated release of up to 100 million barrels of diesel, crude oil, and petroleum products via the IEA
New World (00017)
- Reports suggest US private equity firm Bain Capital is considering investing in New World, with the Cheng family potentially injecting fresh capital simultaneously
Budweiser APAC (01876)
- Restructuring costs and receivables provisions totaling $82 million expected to negatively impact Q3 profit
CATL (03750), BYD (01211)
- Tesla's Q3 vehicle deliveries exceeded expectations
Infinitus Industrial (01710)
- 75% stake may transfer to Luxshare Precision (02475) under memorandum; shares resume trading this morning
Xiaomi Group (01810)
- Repurchased 4.11 million shares for HK$100 million last Friday, with a maximum price of HK$24.26 per share
Jinjin Reproductive (01951)
- Dividend payouts for 2027 and 2028 expected to account for up to 40% of adjusted EBITDA
【OIL & GOLD QUOTES】
NYMEX crude oil down 0.09%, at $91.03/barrel
Brent crude down 0.66%, at $102.04/barrel
Spot gold up 0.22%, at $4,149.94/oz
Gold futures up 0.36%, at $4,177.40/oz
