On Monday, the U.S. stock market closed with mixed performance.  

The U.S. Congress reached a temporary funding agreement to avoid a government shutdown, strengthening market expectations of further interest rate hikes by the Federal Reserve this year and causing a surge in U.S. Treasury yields. The 10-year U.S. Treasury yield surpassed 4.7%. The U.S. ISM Manufacturing PMI index for September rose to 49. 

In the wake of rising U.S. Treasury yields, the U.S. stock market had a challenging September. As U.S. Treasury yields skyrocketed, the S&P 500 index fell by 4.9% in September, marking its largest monthly drop of the year. 　 

U.S. Stocks 

Fundamental Analysis: 

Large tech stocks saw widespread gains, with NVIDIA rising by nearly 3%, Google and Meta up by over 2%, and Microsoft, Apple, Amazon, and Netflix all rising by over 1%. 

Energy stocks experienced collective declines, with Western Oil dropping nearly 4%, ConocoPhillips falling over 2%, and ExxonMobil and Chevron both declining by over 1%. 

Banking stocks trended lower, with major U.S. banks including Wells Fargo falling by over 3%, Bank of America down by over 2%, Citigroup decreasing by over 1%, and JPMorgan Chase experiencing a slight dip. 

Among popular Chinese concept stocks, most saw declines, with the Nasdaq Golden Dragon China Index falling by 0.63%.  

NIO dropped by over 2%, while XPeng Motors and Li Auto both fell by over 1%.  

iQiyi, Tencent Music, and Manbang had slight decreases, while New Oriental and TSMC saw minor gains. 

Technical Analysis:   

(S&P 500 Index, 1-day chart) 

Market Trends: 

• Dow Jones Industrial Average fell by 74.15 points, or 0.13%, closing at 33,433.35 points. 
• Nasdaq Composite Index rose by 88.45 points, or 0.67%, closing at 13,307.77 points. 
• S&P 500 Index gained 0.34 points, or 0.01%, closing at 4,288.39 points. 

Hong Kong Stocks 

Today, the Hang Seng Index opened 1.48% lower.  

Among popular tech stocks, many experienced declines, with Meituan, JD.com, and Baidu falling by over 2%.  

The September performance report for automotive companies resulted in mixed outcomes, with some car stocks opening higher while NIO dropped by over 3%.  

Xpeng Motors saw a 0.36% increase, and Ideal Auto had a stable opening. 

Two stocks within the Evergrande Group rebounded against the trend, with China Evergrande rising by 9.38% and Evergrande Property increasing by nearly 7%. 

Two stocks within the Evergrande Group resumed trading, and China Evergrande rose by 9%, while Evergrande Property increased by over 6%.  

Previously, both stocks had fallen by over 10% on September 27 and were suspended from trading starting on September 28.  

On the evening of September 28, China Evergrande, Evergrande Property, and Evergrande Auto announced on the Hong Kong Stock Exchange that the company had received notifications from relevant authorities that the company’s executive director and chairman, Xu Jiayin, had been taken into custody on suspicion of illegal activities. 

Technical Analysis: 

(Hang Seng Index, 1-day chart) 

Market Trends: 

• Hang Seng Index (HSI) rose by 2.71%, closing at 17,843.13 points. 
• Hang Seng Tech Index (HSTECH) dropped by 1.10%, closing at 3,840.04 points. 
• Hang Seng China Enterprises Index (HSCEI) declined by 3.36%, closing at 5,942.01 points. 

FTSE China A50 Index 

Fundamental Analysis: 

The A-share market in China remained closed for the entire day in light of the China National Day holiday. 

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