Core Viewpoint - The recovery of EPS (Earnings Per Share) is expected to drive stock market growth, with predictions indicating this recovery will occur around January 2026 due to economic signals [1][2] Group 1: Economic Indicators - M1, representing immediate payment capacity, is anticipated to lead PPI (Producer Price Index) by 6-9 months, indicating a warming economy [1] - Historical data suggests that when M1 turns positive and rises, PPI will also rebound, with predictions of PPI reaching 0.1% year-on-year by January 2026 [2] Group 2: Impact on Companies - A rebound in PPI will particularly benefit companies in cyclical sectors such as energy and raw materials, leading to significant improvements in their EPS [2] - The shift in market preference observed in 2015-2016, when PPI turned positive, indicates a potential movement of funds from high-valuation growth stocks to dividend-paying stocks [2] Group 3: Investment Strategies - Current market conditions may present a rare opportunity for long-term investors to accumulate dividend value stocks, particularly those with low volatility [2] - The CSI Hong Kong Stock Connect Central Enterprise Dividend Index, which includes stable dividend-paying companies controlled by central enterprises, has gained popularity in recent years [3]

Market Overview - The Asia-Pacific stock markets showed mixed results, with Japan's Nikkei 225 index rising by 1.9% to 45,769 points, while Hong Kong's Hang Seng Index fell by 0.54% to 27,140 points[3][15]. - In the U.S., the Dow Jones increased by 0.51% to 46,758 points, while the Nasdaq Composite dropped by 0.28% to 22,780 points, ending a five-day upward trend[8][7]. Economic Indicators - The U.S. ISM non-manufacturing PMI for September was reported at 50, the weakest since 2020, indicating potential economic slowdown[5][8]. - The M1 money supply is expected to show resilience, suggesting a likely confirmation of the PPI turning point, with improved liquidity in certain sectors[5]. Commodity and Currency Movements - Gold prices reached a new high of $3,920 per ounce, reflecting a 0.87% increase, while WTI crude oil prices rose nearly 1%[20][4]. - The USD/JPY exchange rate surged by 1.27% to 149.31, influenced by political changes in Japan[20][21]. Sector Performance - In the U.S. stock market, seven out of eleven S&P sectors rose, with utilities and healthcare leading gains, both up over 1.1%[8]. - In Hong Kong, the technology sector faced declines, contributing to the overall market downturn, with the Hang Seng Tech Index falling by 0.90%[10]. Key Corporate Developments - Nvidia's AI chip deal with the UAE faces delays, impacting its stock performance, which fell by 0.70%[7][10]. - Macau's visitor numbers during the National Day holiday are expected to increase by 5.9% year-on-year, with projected gaming revenue growth of 9% to MOP 22.6 billion[13].