Stock Market News·2025-09-17 02:08Market Trends - Hong Kong's technology sector showed robust performance, with the Hang Seng Tech Index rising more than 2%, significantly driven by Baidu's shares, which surged almost 10% due to its use of self-designed chips for AI model training [2][8] - Conversely, the Hang Seng Biotech Index experienced a 2% decline, reflecting broader market volatility and profit-taking activities in the biotechnology sector [3][8] Currency Movements - The U.S. Dollar weakened across major currency pairs as investors anticipated a Federal Reserve interest rate cut, with markets pricing in a 25-basis-point reduction [4][8] - In Asia, the dollar's weakness had varied impacts on local currencies, with the Malaysian Ringgit rising 0.4% to 4.180 per U.S. dollar, while the Singapore Dollar dipped to 1.2763 per U.S. dollar [5][8] Semiconductor Industry Developments - China is making significant strides in its semiconductor industry, with SMIC trialing domestically built advanced chipmaking equipment for AI processors, aiming to reduce dependence on foreign suppliers [6][8] - Chinese internet firms are raising record amounts in Hong Kong's dim sum bond market, with Tencent aiming to raise $1 billion and Alibaba securing $3.2 billion for investments in AI and cloud computing infrastructure [7][8] Corporate Developments - BHP Group has halted operations and plans layoffs at an Australian coking coal site, indicating adjustments to its global portfolio [9][8] - Nissan is continuing its "Re:Nissan" restructuring plan, targeting ¥500 billion in total cost savings by fiscal year 2026, with 4,000 variable cost-saving initiatives identified [10][8]