Core Viewpoint - Chinese assets have collectively surged, driven by strong performances in the U.S. and Hong Kong markets, with significant inflows from foreign investors [2][3]. Group 1: Performance of Chinese Assets - After the U.S. market opened on September 17, the Nasdaq Golden Dragon China Index rose by 2.4%, and various ETFs focused on Chinese stocks saw increases of over 5% [3]. - Notable Chinese stocks such as Baidu experienced a surge of over 7%, with its H-shares rising more than 15% [3]. - The Hang Seng Tech Index increased by 4.22%, reaching its highest level since December 2021, while the Hang Seng Index rose by 1.78% [3]. Group 2: Market Dynamics - Goldman Sachs indicated that the recent surge in Hong Kong stocks was driven by foreign capital, with net purchases from southbound funds amounting to approximately 9.441 billion HKD [3]. - The overall U.S. market showed mixed results, with the Dow Jones up by 0.47% and the Nasdaq down by 0.35% [4]. Group 3: Investor Sentiment - A recent Bank of America survey revealed that 28% of global fund managers are bullish on stocks, the highest level since February [5]. - The survey indicated that nearly half of the respondents expect the Federal Reserve to cut rates at least four times in the next 12 months [5]. Group 4: Federal Reserve Outlook - The Federal Reserve is expected to announce a 25 basis point rate cut, with a 96% probability according to market tools [6]. - Goldman Sachs forecasts that the Fed will implement three consecutive rate cuts of 25 basis points in September, October, and December [7].

港股指数创年内新高。 近期，A股市场与港股市场短期表现再度呈现跷跷板效应。 9月17日，港股延续强势，恒生科技指数当日上涨4%，实现4连涨，年内涨幅扩大至41.77%，恒生指数年内涨幅扩大至 34.14%。恒生互联网科技ETF当日涨幅超过5%，恒生互联网ETF、恒生科技ETF、港股科技30ETF等涨幅超过4%。 资金方面，内外资持续涌向港股，南向资金当日净流入94.4亿港元，已连续18周保持净流入态势，年内合计净流入1.09万 亿港元。长线稳定型外资机构、短线灵活型外资机构资金保持净买入港股。 资金持续买入港股 A股市场在一路上扬后迎来震荡调整，而港股市场在长期调整后迎来持续大涨。如恒生科技指数在9个交易日累计涨幅超 过13%，其中8天实现上涨。9月17日港股加速上涨，恒生科技指数单日大涨4%。商汤、百度集团大涨超15%，优必选、 蔚来涨超10%，金山云、海尔智家、中芯国际、阿里巴巴、京东集团等涨超5%。 港股主题基金赚钱效应较好，科技主题基金迎来普涨。恒生互联网科技ETF当日涨幅超过5%，恒生互联网ETF、恒生科 技ETF、港股科技30ETF等涨幅超过4%。 全年来看，除了港股创新药主题基金外，港股科技ET ...

9月17日，陈茂波出席中信建投证券2025全球投资者大会并发表演讲。 陈茂波表示，当前全球经济正经历一场由数字技术驱动的深度转型。人工智能、生物科技等颠覆性创新，正在重塑产业 格局和价值创造模式。无论是发达经济体还是新兴市场，都正在全力探索如何更深入运用人工智能，提升效能、开发新 产品、开拓新市场。它已成为不同经济体与企业核心竞争力的关键所在。 陈茂波表示，在这一历史性进程中，香港国际金融中心展现出强劲的发展韧性和创新活力。我们不仅积极参与科技变 革，更致力于推动它的高效商业转化和产业群聚。可以说，今天的香港，正通过科技与金融的深度结合，展现出更丰富 的经济内涵、更强大的发展动能。 他从以下三个维度做了进一步阐述： "新经济公司数目占在港上市公司约15%，但它们占港股总市值约28%，贡献了30%的交投额；与五年前相比，交投额 的占比上升了八个百分点"。 今日，香港财政司司长陈茂波在中信建投2025全球投资者大会上演讲称，香港市场结构转型，新经济已成为发展的核心 动力。事实上，科技与金融已成为香港经济增长的两大驱动力，这一点已清晰反映在港股的结构上。 中信建投证券董事长刘成表示，香港金融市场大有可为，中资券商依 ...

据"郑州市场监管"微信公众号消息，2025年9月17日，郑州市市场监管局依法对携程旅行网运营主体进行行政约 谈。 经调查核实，该平台违反《中华人民共和国电子商务法》第三十五条及《网络反不正当竞争暂行规定》第二十四条 的规定，存在利用服务协议、交易规则和技术手段对平台内经营者的交易及交易价格进行不合理限制的问题。郑州 市市场监管局已于2025年9月4日依法向其下达《责令改正通知书》。本次约谈旨在督促企业全面整改、规范运营， 切实维护公平竞争市场秩序，保障平台内经营者合法权益。 会议要求，携程旅行网要高度重视此次行政约谈，严格按照时限完成整改。企业要在规定期限内完成合同条款修 订、调价工具优化等整改任务，并建立健全长效合规机制，加强内部监管和问责，杜绝类似问题再次发生，确保依 法合规开展经营活动。 会议强调，公平竞争是市场经济的核心。互联网平台企业应进一步增强法治意识，主动接受监管： 郑州市市场监管局将持续跟踪整改进展，依法开展验收检查，督促企业全面落实主体责任，共同维护公平有序、健 康发展的网络市场秩序。 来源："郑州市场监管"微信公众号 责编：刘珺宇 校 对：赵燕 百万用户都在看 打卡！600万！ 利好来袭！ ...

央视新闻消息，当地时间9月17日，欧盟外交与安全政策高级代表卡拉斯宣布对以色列进行制裁的一系列措施。包 括部分中止《欧盟-以色列联系国协议》中与贸易相关的事项。卡拉斯表示，欧盟不会暂停与以色列的贸易。 该决定当天在欧盟委员会会议上获得通过，仍需要得到欧盟成员国的批准，并将于获得批准后30天生效。目前公布 的制裁对象包括两名以色列极端主义的部长、暴力定居者以及10名哈马斯成员。 此前一天，9月16日，卡拉斯表示，以色列对加沙的地面进攻将使本已严峻的局势更加恶化。欧盟委员会将于17日 提出措施，向以色列政府施压，要求其改变对加沙战争的立场。 来源： 央视新闻 责编： 刘珺宇 校 对：赵燕 百万用户都在看 打卡！600万！ 利好来袭！人工智能，突传重磅！ 太突然！刚刚宣布：裁员9000人！ 创新药，突发！ A股，风云突变！发生了什么？ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 券中社 券 商 中 国 × 券 中 社 扫 码 下 载 券 中 社 A P P 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 券中社APP 弊中社 券 商 中 国 是 证 ...

Core Viewpoint - The humanoid robot sector is experiencing significant growth, highlighted by Figure's recent funding round, which raised over $1 billion and increased its valuation to $39 billion, marking a 1400% rise in just over a year [1][3][4]. Funding and Valuation - Figure, a humanoid robot startup, completed a Series C funding round of over $1 billion, led by Parkway Venture Capital, with participation from notable investors like Nvidia and Intel Capital, resulting in a post-money valuation of $39 billion [3][4]. - This valuation is substantially higher than the previous year's valuation of $2.6 billion, which was achieved after a $675 million investment [4]. Development Focus Areas - The funding will support Figure's growth in three key areas: 1. Expanding humanoid robots for home and commercial operations, enhancing the production and deployment of its BotQ platform [3]. 2. Building next-generation GPU infrastructure to accelerate training and simulation for its AI models [4]. 3. Initiating advanced data collection efforts to improve robots' understanding and operation in complex environments [4]. Market Response - On September 17, humanoid robot concept stocks surged in the A-share market, with the Wind humanoid robot index rising over 2% and several stocks hitting their daily limit up [1][7]. - Companies like Lihexing and Junsheng Electronics saw significant stock price increases, with some stocks rising over 10% [7]. Investor Sentiment - Investors are increasingly viewing humanoid robots as comparable to foundational AI models and electric vehicles, driven by structural demand factors such as an aging workforce and geopolitical competition [5]. - Major tech companies are competing to develop humanoid robots to address labor shortages and automate repetitive tasks in logistics and manufacturing [5]. Long-term Outlook - Analysts remain optimistic about the long-term prospects of the humanoid robot industry, with expectations of a sustained upward cycle through 2026 [9][10]. - Tesla's commitment to humanoid robots is underscored by a new executive compensation plan tied to the delivery of 1 million humanoid robots, indicating a strong future investment in this sector [9].

增量政策要让经营主体有真切获得感 "在文件制定过程中，我们以推动扩大服务消费为主要目标，着力解决制约服务消费发展的堵点卡点问题，提出了一些让 经营主体有真切获得感的增量政策。"盛秋平指出，《措施》坚持惠民生和促消费相结合、坚持优化供给和激发需求相结 合、坚持对外开放和对内放开相结合，推动扩大服务消费。 9月17日，商务部副部长盛秋平、国家发展改革委就业收入分配和消费司司长吴越涛、商务部服贸司司长孔德军、文 化和旅游部产业发展司司长缪沐阳、中国人民银行信贷市场司负责人杨虹出席国新办新闻发布会，介绍已于9月16日 发布的《关于扩大服务消费的若干政策措施》（下称《措施》）有关情况。 来看会上重点内容： 1.将通过竞争性评审方式在全国选择50个左右人口基数大、带动作用强、发展潜力好的消费新业态新模式新场景试点城 市； 2.截至7月末，全国服务消费重点领域贷款余额2.79万亿元，同比增长5.3%，比年初新增1642亿元，前7个月新增贷款比去 年全年新增贷款多630亿元； 3.截至7月末，不含个人住房贷款的全国住户消费贷款余额21.04万亿元，比年初新增346亿元，同比增长5.34%； 4.中国人民银行积极支持符合条件的 ...

Macro Dynamics - The Chinese Foreign Ministry commented on the recent postponement or cancellation of concerts by Korean artists in China, indicating that China does not oppose healthy cultural exchanges between China and South Korea [2] Industry Developments - The Ministry of Commerce announced the establishment of five industry standardization technical committees, including those for automotive circulation and pharmaceutical circulation [3] Financial Data - The Ministry of Finance reported that from January to August 2025, the securities transaction stamp duty reached 118.7 billion yuan, a year-on-year increase of 81.7% [4] - The retail sales of passenger cars in China from September 1 to 14 totaled 732,000 units, a year-on-year decrease of 4%, while the cumulative retail sales for the year reached 15.497 million units, a year-on-year increase of 9% [5][6] Market Performance - On September 17, the A-share market saw all three major indices rise, with the Shanghai Composite Index up 0.37% and the ChiNext Index up 1.95%. The total trading volume was approximately 23,767.46 billion yuan [9] - The financing balance of the two markets increased by 22.54 billion yuan, with the Shanghai Stock Exchange reporting a balance of 1,205.86 billion yuan and the Shenzhen Stock Exchange reporting 1,162.11 billion yuan [10] Company News - Xinhua Insurance reported a cumulative original insurance premium income of 158.086 billion yuan from January to August 2025, representing a year-on-year increase of 21% [8] - Tempus Co., Ltd. announced that its stock will resume trading on September 18, 2025, after a significant price increase, but noted uncertainties regarding control changes and potential risks of a rapid decline in stock price [13] - Peak's chairman denied reports of a company-wide salary reduction, stating that the overall reduction was less than 10% and not applicable to all employees [14] - Mindray Medical responded to rumors of a potential secondary listing in Hong Kong, confirming that it would rely on official announcements for information [15]

人大代表、政协委员及各界群众30余人旁听了本案庭审。 来源：人民日报 责编： 刘珺宇 校 对：赵燕 2025年9月17日，黑龙江省牡丹江市中级人民法院对犯罪嫌疑人李传良违法所得没收一案进行公开宣判，裁定没收属于 李传良贪污、受贿、挪用公款、滥用职权的违法所得及孳息。 牡丹江市中级人民法院经审理认为，本案有证据证明犯罪嫌疑人李传良利用担任黑龙江省鸡西市财政局局长、鸡西市人 民政府副市长等职务上的便利实施贪污、受贿、挪用公款、滥用职权的犯罪行为，并逃匿境外，被通缉一年后不能到 案；检察机关申请没收的在案现金、房产、公司股权等财产及孳息属于违法所得，依法应予没收；利害关系人的相关异 议和主张均不能成立。法庭遂作出上述裁定。 牡丹江市中级人民法院经立案审查后受理本案，并依法发布公告。六个月公告期内，犯罪嫌疑人李传良的女儿李继阳、 主张财产权的胡桂芝等9名利害关系人申请参加诉讼。2025年8月11日至13日，牡丹江市中级人民法院依法公开开庭审 理了本案，胡桂芝等5名利害关系人及全部利害关系人的诉讼代理人到庭参加诉讼，充分发表了意见。 邮箱：bwb@stcn.com 券中社 券 商 中 国 × 券 中 社 扫 码 下 载 ...

Core Viewpoint - Market traders are increasingly betting on a significant interest rate cut by the Federal Reserve, with expectations of at least one 50 basis point cut in the remaining three policy meetings of the year [2][3]. Group 1: Market Expectations - Traders are making aggressive bets that the Federal Reserve will implement a 50 basis point cut, with some speculating it could happen as soon as the upcoming meeting [3][4]. - The consensus among Wall Street analysts is that the probability of a 50 basis point cut tonight is low, with a more likely scenario being a 25 basis point cut due to recent labor market slowdowns [2][7]. Group 2: Trading Activity - A significant trade involving 84,000 October federal funds futures contracts was executed, marking the largest block trade in history, indicating that some traders are hedging against a potential surprise 50 basis point cut [5][6]. - The pricing in the swap market suggests an expected cumulative cut of about 70 basis points before the December meeting [7]. Group 3: Economic Context - The labor market's unexpected cooling has led some traders to hedge against the risk of a more substantial rate cut due to deteriorating economic prospects [4][8]. - Analysts note that the Federal Reserve faces conflicting pressures from persistent inflation and a weakening labor market, complicating their decision-making process [8][9].