Market Overview - On September 19, the A-share market continued to consolidate at high levels, with the Shanghai Composite Index closing at 3820.09 points, down 0.30% [1] - Major Asia-Pacific indices mostly declined, with the Nikkei 225 down 0.57% at 45045.81 points and the Korean Composite Index down 0.46% at 3445.24 points [1] - Hong Kong's three major indices experienced slight gains, with the Hang Seng Index closing at 26545.10 points, up 0.25% [1] Currency and Bonds - On September 19, the onshore RMB against the USD closed at 7.1125, a decrease of 46 basis points from the previous trading day [2] - Domestic government bond futures collectively fell, with the 30-year main contract down 0.76%, the 10-year down 0.21%, the 5-year down 0.13%, and the 2-year down 0.05% [3] ETFs and Sector Performance - On September 19, the China Securities Convertible Bond Index fell by 0.54% to 473.61 points [4] - The performance of ETFs was mixed, with the S&P Biotechnology ETF rising by 2.92% and the Coal ETF up by 2.52%, while the China A50 ETF fell by 9.35% [4] Institutional Insights - According to Industrial Bank Fund, the impact of the Federal Reserve's interest rate cuts on domestic policy is minimal, with a low probability of following suit in the short term [5] - The robotics sector recently experienced a pullback after a period of gains, primarily driven by Tesla's overseas developments [5] - HSBC's Chief Asian Economist noted that declining U.S. interest rates may pressure the USD against other currencies, including the RMB [5] - CICC's research suggests that most companies may limit their applications to specific vertical scenarios, while a few may define standards for "embodied intelligence" through technology integration [5]
四点半观市 | 机构：看好中国资产 短期波动不影响中期向上趋势
Sou Hu Cai Jing·2025-09-19 08:47