Group 1 - The Hang Seng Index opened up by 0.14% and the Hang Seng Tech Index increased by 0.44% [1] - The technology and internet sectors were active, with JD.com rising over 2% [1] - CATL (Contemporary Amperex Technology Co., Limited) opened nearly 2% higher [1]

Market Overview - On September 18, A-shares opened lower with the Shanghai Composite Index down 0.01%, Shenzhen Component down 0.41%, and ChiNext down 0.88% [1] - By 9:42 AM, the Shanghai Composite Index slightly rebounded by 0.09% [1] Sector Performance - The STAR 50 Index increased by 2%, surpassing 1400 points, reaching a new three-year high, led by gains in semiconductor stocks [2] - Notable performers included Haiguang Information up over 7% and Cambrian up nearly 5% [2] - The Hang Seng Index opened down 0.17%, while the Hang Seng Tech Index remained flat, with mixed performances in the technology sector [2] Investment Recommendations - Goldman Sachs maintained an overweight rating on A-shares and H-shares, suggesting to buy on dips, particularly favoring leading private enterprises and themes like artificial intelligence [2] - Analysts indicated that profitability is essential for sustained market performance, but liquidity is also a necessary condition, suggesting a more stable "slow bull" market for A-shares [2] Global Market Context - Japanese and South Korean markets saw collective gains, with the Nikkei 225 Index opening up 0.27% and the KOSPI up 0.57% [2][4] - The Nikkei 225 Index reached a record high during the session, with 81 stocks rising and 137 falling [4] U.S. Federal Reserve Actions - The U.S. Federal Reserve announced a 25 basis point cut to the federal funds rate, bringing it to a target range of 4.00% to 4.25% [4][5] - This marks the first rate cut of 2025 and follows three cuts in 2024, with indications of potentially two more cuts by the end of the year [4][5] Economic Indicators - The Fed's decision was influenced by a weakening labor market, with the unemployment rate rising to 4.3%, the highest in nearly four years [5][6] - Inflation remains a concern, with the core PCE index rising 2.9% year-over-year as of July [5][6] Market Reactions - Following the Fed's announcement, the market reacted positively, with the dollar reversing its decline and treasury yields rising [6] - Analysts described the rate cut as a "risk management" approach, prioritizing employment concerns amid ongoing inflation pressures [6] Future Outlook - Fed Chair Powell indicated a cautious approach to future monetary policy, suggesting potential rate cuts in 2026 and 2027 [7] - The Fed's shift in focus from controlling inflation to stabilizing employment reflects the current economic and political landscape, which may have significant implications for global financial markets [7]

Group 1 - Cambricon's stock price opened 4% higher, surpassing 1500 yuan, again exceeding Kweichow Moutai [1] - Tianpu Co. resumed trading with a limit-up of 10%, achieving a transaction volume exceeding 24.2 million yuan [3][4] - The central bank conducted a 487 billion yuan 7-day reverse repurchase operation, maintaining the operation rate at 1.40% [5] Group 2 - The A-share market opened lower, with the Shanghai Composite Index at 3876.06 points, down 0.01%, and the Shenzhen Component Index at 13161.15 points, down 0.41% [2][3] - The Hang Seng Index fell by 0.17%, while Baidu Group opened 3% higher [6] - The RMB/USD central parity rate depreciated by 72 basis points, reported at 7.1085 [7]

Core Viewpoint - The Hang Seng Index (HSI) experienced a slight increase of 0.53%, closing at 23,807.13 points, marking a near two-month high, with significant activity in the biopharmaceutical sector [1] Market Performance - The HSI opened higher and fluctuated within a range of nearly 200 points, reaching a peak of 23,884.89 points [1] - The Hang Seng Technology Index underperformed the broader market, with a gain of only 0.43%, closing at 5,538.31 points [1] - Total market turnover reached 119.298 billion HKD [1] Sector Performance - The biopharmaceutical sector continued its strong performance for three consecutive days [1] - Technology stocks, automotive stocks, and gold stocks outperformed the market, while logistics and restaurant stocks lagged [1] Notable Stock Movements - 3SBio Inc. (01530.HK) saw a significant increase of 9.23% [1] - Contemporary Amperex Technology Co., Ltd. (03750.HK) surged by 11.56% on its second day of trading [1] - BYD Company Limited (01211.HK) reached a historical high, closing up 2.83% [1] - Chifeng Jilong Gold Mining Co., Ltd. (06693.HK) rose by 8.97% [1] - Yum China Holdings, Inc. (09987.HK) declined by 1.97% [1] - ZTO Express (02057.HK) fell by 5.75% [1]