Zhitong Hong Kong stocks have long known | “Eagle Wind” swept through the Federal Reserve: Three officials warned of the risk of inflation on the same day
[Today's headlines]
“Hawk wind” sweeps through the Federal Reserve: Three officials warned of the risk of inflation on the same day
Since the Federal Reserve recently raised interest rates for the first time in three years, many officials have called for further policy tightening. On Friday alone, three Federal Reserve officials sent hawkish signals warning of the risk of inflation.
Cleveland Federal Reserve Chairman Beth Hammark said on Friday that she is concerned that continued high inflation may cause the American public to gradually regard high prices as the norm, and the Federal Reserve must not let this happen. On the same day, Kansas City Federal Reserve Governor Jeffrey Schmid said that the inflation rate is still higher than the Fed's 2% target, and policymakers have yet to completely resolve the inflation problem. Philadelphia Federal Reserve Chairman Anna Paulson also said on Thursday that if the economic trend is in line with expectations, the Federal Reserve may need to raise interest rates further to push inflation back to the target level of 2%.
The yield on US 30-year Treasury bonds surpassed 5.5%, continuing to hit a new high since 2004.
According to the CME “Federal Reserve Watch”, the probability that the Federal Reserve will keep interest rates unchanged at 3.75%-4.00% in October is 35.8%, and the probability of raising interest rates by 25 basis points is 64.2%.
[General outlook]
The three major US stock indices closed higher, and Microsoft hit a new closing high since November last year
Overnight, the Dow Jones Industrial Average rose 478.64 points to close at 51828.62 points, or 0.93%, up 0.28% last week, ending three consecutive weekly losses; the S&P 500 stock index rose 39.28 points, to close at 7743.41 points, or 0.51%, up 1.21% last week; the Nasdaq Composite Index rose 129.35 points to close at 27068.72 points, or 0.48% last week. The S&P 500 index and NASDAQ rose 2 times in a row on a weekly basis.
Major technology stocks had mixed ups and downs. Microsoft rose 3.66%, hitting a new high since November last year, and Azure and AI cloud momentum continued; Apple rose 1.53%, hitting a record closing high, with a total market value approaching 5 trillion US dollars; Google rose 0.46%; Nvidia and Amazon closed slightly higher.
The memory chip circuit was catalyzed by news that Solidigm, a subsidiary of SK Hynix, plans to go to the US. Combined with AI data center demand expectations for NAND flash memory and high-bandwidth storage, memory chip stocks generally rose. SK Hynix rose 2.78%, and Qualcomm rose 3.97%. The overall sentiment in the semiconductor sector was strong, with Ansemi Semiconductor up 5.54% and Microchip Technology up 5.36%.
In terms of popular Chinese securities, the Nasdaq China Golden Dragon Index closed down 0.64%. The Hang Seng Index ADR rose. On a proportional basis, it closed at 24593.03 points, up 82.94 points or 0.34% from the Hong Kong closing.
WTI crude oil futures on the New York Mercantile Exchange fell $2.17 for the month to close at $92.44 a barrel, or 2.29%. COMEX gold futures rose by $22.50 in the same month, or 0.52%, to $4320.5 per ounce.
[Hot Topics Preview]
HKEx's derivatives clearing house will accept Chinese treasury bonds, policy financial bonds and Ministry of Finance bonds as non-cash collateral starting in November
Hong Kong Exchanges and Clearing Limited (HKEx) announced on Friday last week that its wholly-owned subsidiaries and on-market derivatives clearing houses Hong Kong Futures Clearing Limited (Futures Clearing House) and Hong Kong Stock Exchange Options Clearing Limited (SEHK Options Clearing House) will accept Chinese treasury bonds and policy financial bonds (collectively, BondConnect bonds) held through Bond Connect “Northbound” from November 2026, as well as overseas bonds issued by the Ministry of Finance of the People's Republic of China (Treasury Bonds) collateral to meet security deposit requirements, and Subject to regulatory approval.
Tesson Holdings (01201) plans to acquire 100% of the shares of Times Huazhi (Hong Kong) New Energy Technology Co., Ltd., for 120 million yuan
The target group is mainly engaged in research and development of new energy technology, operation of electric vehicle charging stations, sales and leasing of related products, and provision of related services. The target group operates a number of charging stations already in operation in Shanghai and Fuzhou. Additionally, Target Group has established commercial relationships with various charging service platforms and participants in the electric vehicle charging ecosystem in China.
Huabao International (00336) plans to acquire PT for 90 million yuan. 100% shareholding in Broad Far Indonesia
The target company will be a wholly owned subsidiary of the company. Nocton and World Concept will pay the consideration in cash. The target company was incorporated in Indonesia on October 27, 2021. It is mainly engaged in the production and sale of heated non-combustible (HNB) cigarette bomb products in Indonesia, and mainly provides customers with OEM/ODM services for HNB cigarette products.
Yifei Technology (06871) and China Aerospace signed a strategic cooperation agreement to conduct joint research on cutting-edge technology and key common technologies in the field of space manufacturing
Specifically, the two sides plan to conduct joint research on cutting-edge technology and key common technologies in the field of space manufacturing, jointly apply for national and local science and technology projects, and promote collaborative innovation and transformation of scientific and technological achievements.
ROBOTCO (03757): Offer price determined at HK$436 per H share
Assuming that the global sale becomes unconditional on or before September 29, 2026 (Tuesday) at 8:00 a.m. (Hong Kong time), it is expected that H shares will begin trading on the main board of the Stock Exchange on September 29, 2026 (Tuesday) at 9:00 a.m. (Hong Kong time). H shares will be traded on a trading unit of 50 H shares per lot.
Litmi (01936) received a discount of about 29.08% from INNOVATION FORGE HOLDINGS LIMITED and offered a full purchase offer to resume trading on September 28
The offer price of HK$0.6170 per share was discounted by approximately 29.08% from the closing price of HK$0.8700 per share reported on the Stock Exchange on the last trading day. The company has applied for shares to resume trading on the Stock Exchange at 9:00 a.m. on September 28, 2026.
[Individual stock prices are clear]
SMIC (00981): Generative AI Will Drive Future Growth
According to TrendForce data, in terms of revenue, SMIC still ranked among the top three global foundry companies in the second quarter of 2026, with revenue growth of 20% month-on-month, higher than the overall 11.5% month-on-month growth rate of the world's top ten foundry companies, and the company with the strongest month-on-month revenue growth among the top ten in the world.
Goldman Sachs believes this reflects the strong demand for AI in China and the diversification of suppliers by customers to better guarantee production capacity. Goldman Sachs expects SMIC's revenue for the third and fourth quarters of 2026 to remain high in the second quarter, and the capacity utilization rate will remain above 95% in the second half of 2026. New pricing for wafers completed in the fourth quarter of 2025 and the first quarter of 2026 is expected to take effect in the third quarter of 2026, thus supporting gross profit margins even as depreciation rises. As production capacity for AI-related computing, logic, BCD and optical module related chips continues to be tight, the bank expects average sales prices to be less likely to decline in the second half of 2026, and continues to be optimistic about support from high utilization, improved pricing, and continued demand for AI-related applications.