Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has issued a statement advising market participants to make early operational and human resource adjustments in response to the approaching "Hagupit" storm, with the Hong Kong Observatory expected to issue a No. 8 gale or storm signal at 2:20 PM [1] Group 1: Operational Guidelines - HKEX will maintain normal trading hours for the securities and derivatives markets, including the Shanghai-Hong Kong Stock Connect, during the issuance of a No. 8 or higher gale/storm signal, black rainstorm warning, or extreme conditions warning [1] - Market participants are encouraged to refer to established severe weather trading arrangements to support stable market operations [1] Group 2: Recommendations for Investors - Investors should familiarize themselves with the electronic trading platforms and transfer channels provided by banks and securities brokers [4] - It is important for investors to understand the services offered by banks and securities brokers on severe weather trading days [4] Group 3: Employee Preparedness - Employees of securities brokers or banks should be well-acquainted with remote access to company systems and the HKEX systems if necessary [7] - Employees are advised to discuss work arrangements with employers in light of severe weather conditions and to make relevant preparations to respond to potential weather changes [7]

Group 1 - Deloitte anticipates over 80 IPOs in Hong Kong this year, raising between 250 to 280 billion HKD, an increase of 25-40% from the previous forecast of 200 billion HKD [1] - The increase in IPO fundraising is attributed to a favorable capital market in Hong Kong, prompting A+H companies to accelerate their listing plans, with each raising over 1 billion USD (approximately 7.8 billion HKD) [1] - The Hong Kong Stock Exchange (HKEX) is expected to maintain its position as the global leader in IPO fundraising for the year, as the fundraising amount has been adjusted to 250 to 280 billion HKD, significantly ahead of the second-ranked New York Stock Exchange [1] Group 2 - The potential IPOs of Fannie Mae and Freddie Mac, which could be the largest in history, are mentioned, but their listing is unlikely to occur in the fourth quarter of this year due to legislative requirements [1] - The long-term possibility of the two government-sponsored enterprises going public is acknowledged, but immediate prospects for a fourth-quarter listing are deemed low [1]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) is prepared to continue normal operations despite the approach of Super Typhoon Haikui, which is expected to impact the region [1] Group 1: Weather Impact on Operations - Super Typhoon Haikui has intensified and is moving towards the Guangdong coast, prompting the HKEX to monitor the situation closely [1] - The Hong Kong Observatory plans to issue a No. 8 gale or storm signal on September 23, indicating severe weather conditions [1] Group 2: Trading Arrangements - Starting from September 2024, HKEX has implemented arrangements for trading during adverse weather conditions, allowing its securities and derivatives markets to operate normally during No. 8 or higher gale/storm signals, black rainstorm warnings, or extreme situation warnings [1] - The upcoming typhoon represents a significant test for the new "trading during typhoon" regulations established by HKEX [1]

Group 1: Economic Development Strategies - The 2025 Policy Address aims to enhance Hong Kong's status as an international financial center, focusing on offshore RMB business, fintech innovation, and green finance[3] - Hong Kong is the largest offshore RMB market, with an average daily trading volume of USD 196.5 billion in October 2024 and RMB deposits totaling approximately RMB 938.23 billion by July 2025[8] - The asset management sector in Hong Kong grew by 13% in 2024, reaching HKD 35.1 trillion (approximately USD 4.51 trillion)[14] Group 2: Infrastructure and Connectivity - The Northern Metropolis development plan includes establishing a dedicated committee and legislative framework to accelerate infrastructure projects, with a focus on cross-border connectivity[30] - The Hong Kong International Airport is projected to handle 120 million passengers and 10 million tons of cargo by 2035, enhancing its position as a global aviation hub[25] - The report emphasizes the establishment of a "super contact" role for Hong Kong, facilitating connections between mainland enterprises and international markets[34] Group 3: Social Welfare and Housing - The government plans to build 189,000 public housing units over five years, including 30,000 "simple public housing" units by the end of 2025[41] - Measures to support small and medium-sized enterprises (SMEs) include extending the loan guarantee scheme and reducing operational costs through fee waivers[44] - Initiatives to enhance social welfare include increased support for elderly care and family services, with a focus on encouraging childbirth through tax incentives and childcare services[46]

Core Viewpoint - The 18th typhoon "Haikui" has intensified to a super typhoon level and is approaching the coastal areas of Guangdong, posing a significant test for the Hong Kong Stock Exchange's new trading arrangements during severe weather conditions [1] Group 1: Typhoon Impact on Trading - The Hong Kong Stock Exchange has been informed that the Hong Kong Observatory plans to issue a No. 8 gale or storm signal on September 23 afternoon [1] - The exchange will continue to operate under normal trading hours during the issuance of a No. 8 or higher gale/storm signal, black rainstorm warning, or extreme situation warning, as per the new regulations implemented in September 2024 [1] - This situation marks a critical evaluation of the "trading during typhoons" policy since its introduction [1]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has issued a statement regarding the impact of Typhoon Haikui, indicating that trading will continue during severe weather conditions, including the issuance of a No. 8 or higher gale/typhoon signal [1] Group 1 - HKEX announced that it expects the Hong Kong Observatory to issue a No. 8 gale/typhoon signal at 2:20 PM [1] - The securities and derivatives markets, including the Shanghai-Hong Kong Stock Connect, will operate normally during the issuance of severe weather warnings [1] - Market participants are advised to make early operational and human resource adjustments in accordance with established severe weather trading arrangements to support stable market operations [1]

超强台风"桦加沙"迫近 香港发出"三号风球" 中新网香港9月23日电 (戴小橦 华净雯)受超强台风"桦加沙"影响，香港天文台于22日21时40分发出三 号强风信号(俗称"三号风球")，并表示将于23日14时20分改发八号烈风或暴风信号(俗称"八号风球")。 9月22日，今年第18号台风"桦加沙"逼近香港，在香港的低洼地区鲤鱼门一带，特区政府消防、工 程人员协助居民及商户设置挡板、沙包等，并部署排水机器人，防范水浸。图为工程人员在鲤鱼门设置 挡板。 中新网记者 李志华 摄 天文台提醒，24日香港天气将持续恶劣，吹烈风至暴风，离岸及高地或达飓风级别，伴有频密狂风大骤 雨及雷暴，海面将出现非常巨浪及涌浪，呼吁市民远离岸边并停止所有水上活动。 资本市场方面，香港交易及结算所有限公司(简称"港交所")表示，已于去年9月起实施恶劣天气交易安 排，旗下证券及衍生产品市场，在八号及以上烈风或暴风信号、黑色暴雨警告或极端情况警告生效期 间，将按照正常交易时间如常运作。 港交所建议市场参与者尽早作出营运及人力资源调配，参考既定恶劣天气交易运作安排以支持市场平稳 运作，同时强调以员工、市场参与者及公众投资者安全为首要考虑，会在有需 ...

Market Performance - The Hang Seng Index (HSI) fell by 200 points or 0.8%, closing at 26,344 points after reaching a low of 26,204 points[1] - The National Index dropped by 101 points or 1.1%, ending at 9,370 points[1] - The Hang Seng Tech Index decreased by 36 points or 0.6%, closing at 6,257 points[1] - Total market turnover for the day was HKD 290.54 billion[1] Economic Indicators - The People's Bank of China maintained the one-year and five-year Loan Prime Rates (LPR) at 3.00% and 3.50% respectively, in line with expectations[2] - The central bank conducted a 7-day reverse repurchase operation of CNY 240.5 billion at an interest rate of 1.4%[2] - The mid-point exchange rate of the RMB against the USD was adjusted up by 22 points to 7.1106[2] U.S. Market Highlights - The Dow Jones increased by 66 points or 0.1%, closing at 46,381 points[2] - The S&P 500 rose by 29 points or 0.4%, reaching 6,693 points[2] - The Nasdaq led with a gain of 157 points or 0.7%, closing at 22,788 points[2] Corporate Developments - TikTok is expected to generate USD 170 billion in economic benefits over the next four years, with Oracle becoming its "trusted service provider"[3] - JD Industrials, a spin-off from JD Group, plans to list in Hong Kong, with the China Securities Regulatory Commission acknowledging its filing[5]

Group 1 - The China Securities Regulatory Commission (CSRC) reported that foreign investment in A-shares has reached a market value of 3.4 trillion yuan, indicating an expanding capital market network in China [1] - The CSRC emphasized the need to continuously promote the entry of various types of medium- and long-term funds into the market and to enhance strategic reserves and market stabilization mechanisms [1] - The Shanghai Stock Exchange announced efforts to further encourage medium- and long-term funds to enter the market to maintain and activate the capital market [2] Group 2 - Nvidia's stock rose nearly 4%, pushing its market value close to 4.5 trillion yuan, as the U.S. stock market indices reached historical highs [1] - International gold prices increased by approximately 1.7%, nearing a historical high of 3750 USD [1] - The Tokyo Stock Exchange and the Korean Stock Exchange both reached historical highs, with year-to-date increases of 14.03% and 44.56%, respectively [1][2] Group 3 - Longchuan Technology expects a net profit increase of 131.39% to 145.38% year-on-year for the first three quarters [2][3] - Southbound funds have continuously net purchased Alibaba for 22 consecutive days, totaling 604 billion HKD [3] - The Hong Kong Stock Exchange is closely monitoring the situation regarding Typhoon Haikui and will issue further notifications as necessary [2]

Core Insights - The "Northbound Swap Connect" has been expanded to include interest rate swap contracts referencing the one-year Loan Prime Rate (LPR1Y), enhancing risk management tools for overseas investors [1][2] - The initiative aims to facilitate the internationalization of the Renminbi by providing a more efficient and secure channel for domestic and foreign investors to participate in financial derivatives markets [1] Group 1: Expansion of Northbound Swap Connect - On September 22, the Hong Kong Stock Exchange, in collaboration with the China Foreign Exchange Trading Center and Shanghai Clearing House, launched new interest rate swap contracts under the "Northbound Swap Connect" [1] - On the first day of trading, 31 domestic and foreign institutions participated, executing 53 transactions with a nominal principal amount of 6.46 billion RMB [1] Group 2: Performance and Future Developments - Since its launch on May 15, 2023, the "Swap Connect" has been operating smoothly, with increasing trading activity, becoming a key channel for overseas institutions to manage Renminbi interest rate risks [2] - As of August 2025, 82 foreign financial institutions from 15 countries and regions have conducted over 15,000 Renminbi interest rate swap transactions, totaling approximately 8.15 trillion RMB in nominal principal [2] - Starting September 22, the maximum term for existing Renminbi non-deliverable interest rate swap contracts has been extended from 5.5 years to 11 years to better assist overseas investors in managing interest rate risks [2]