U.S. stocks closed higher in the final trading session, with automotive stocks weighing on European stocks, Chinese concept stocks rising and then falling, while A50 index futures edged slightly lower

Fed's hawkish remarks dispelled market expectations of a significant rate cut in November, but U.S. stocks turned higher in the final trading session. The chip index fell by 0.9%, while the Chinese concept index rose by 7% before closing up by 0.5%. The S&P recorded its first September gain since 2019, with the Chinese concept index rising by nearly 30% in September. NVIDIA opened lower by 2.7% on Monday before a slight increase, marking its first quarterly decline since 2022, while NIO Inc. surged by over 18% at the opening and closed up by 2.5%. European and American auto stocks declined. The Japanese yen fell by over 1% on Monday but rose by over 10% in the third quarter, while the offshore renminbi briefly fell below 7.01 yuan but rose by nearly 830 points in September. Bitcoin surged by over 7% in September, its strongest performance in twelve years, while oil prices fell by over 6% in September. Gold rose by 10% in the third quarter, its best performance since 2010

Federal Reserve Chairman Powell's hawkish remarks stated that he does not think the Fed is eager to cut interest rates. If the economy meets expectations, the Summary of Economic Projections (SEP) will indicate that the FOMC will implement two more 25 basis point rate cuts (lower than market expectations). In addition, this year's voting member and Atlanta Fed President Bostic stated that if the US labor market weakens, he is open to cutting rates by 50 basis points.

Powell's hawkish comments poured cold water on the rate cut frenzy, with the market expecting the probability of a 50 basis point rate cut by the Fed in November to drop significantly to 36.2%. US bond yields and the US dollar rose together, with the two-year US bond yield rising by nearly 10 basis points and the US dollar index rising by over 0.2%, leading to a decline in precious metals and non-US currencies, with the Japanese yen falling by over 1% at one point. US stocks also extended their losses in the short term, with the S&P 500 falling by over 0.6% at one point, but rebounding sharply towards the end of the session, with the S&P hitting a new closing high.

Internationally, German inflation slowed down, with the September CPI at 1.6%, falling below 2%. At the same time, Lagarde stated that confidence in controlling inflation has strengthened, and expectations for an ECB rate cut in October have heated up again. Bank of America predicts that the next ECB rate cut will be brought forward from December to October, while Barclays expects the ECB to cut rates in October and continue cutting rates until June next year.

Powell's hawkish comments have reduced expectations for rate cuts, with the market expecting less than 3 rate cuts by 2024.

Despite Federal Reserve Chairman Powell hinting that he is not in a rush to further cut interest rates, causing US stocks to fall after midday, the Dow and S&P still hit new closing highs. Historically, US stocks tend to perform poorly in September, but all three major indices rose for the month, with the S&P posting its first September gain since 2019, and in the third quarter, US stocks only saw a decline in chip stocks, with Chinese concept stocks surging nearly 30% in September , and NVIDIA posting its first quarterly decline since 2022 :

All three major US indices rose in September: The S&P 500 closed up 24.31 points, up 0.42%, at 5762.48 points, with a cumulative increase of 2.02% in September, marking the best September performance since 2013 and a fifth consecutive monthly gain. The Dow, closely related to the economic cycle, closed up 17.15 points, up 0.04%, at 42330.15 points, with a 1.85% increase in September. The tech-heavy Nasdaq closed up 69.58 points, up 0.38%, at 18189.17 points, with a 2.68% increase in September. The Nasdaq 100 closed up 0.26%, with a 2.48% increase in September. The Nasdaq Technology Market Cap Weighted Index (NDXTMC), which measures the performance of Nasdaq 100 tech sector stocks, closed up 0.40%, with a 2.15% increase in September. The more economically sensitive Russell 2000 index closed up 0.24%, with a 0.56% increase in September. The VIX fear index fell by 1.42% to 16.72, with a 7.52% increase in September, reaching a high of 23.76 on September 7th

In September, the Russell 2000 small-cap index rose by 0.4%, the chip index rose by 0.3%, and the Chinese concept index rose by nearly 30%. In the third quarter, the Dow rose by 8.2%, the S&P rose by 5.5%, marking the longest consecutive quarterly increase since 2021, the Nasdaq rose by 2.6%, the small-cap index rose by 8.7%, the chip index fell by 5.5%, and the Chinese concept index rose by over 26%. The public utilities sector performed the best in the S&P in the third quarter, with an increase of over 18%, marking the largest increase since 2003, while the real estate sector was the second best with an increase of nearly 16%.
European stock markets closed basically flat in September, with a slight increase in the US stock market and a surge in the Chinese stock market.
Most US industry ETFs closed higher. Regional bank ETFs and banking ETFs each rose by over 1%, energy industry ETFs and healthcare industry ETFs rose by nearly 1%, biotechnology index ETFs, public citrus industry ETFs, and financial industry ETFs each rose by less than 0.5%. However, semiconductor ETFs fell by nearly 1%, and global aviation industry ETFs also fell by over 0.5%.
11 of the S&P 500 index sectors rose more than fell. The energy sector rose by 0.83%, the telecommunications sector rose by 0.79%, the information technology/technology sector rose by 0.58%, the consumer discretionary sector fell by 0.28%, and the materials sector fell by 0.6%.
In September, the consumer discretionary sector rose by 7.02%, the public utilities sector rose by 6.43%, the telecommunications sector rose by 4.53%, the industrial sector rose by 3.27%, the real estate sector rose by 2.73%, the technology sector rose by 2.45%, the materials sector rose by 2.41%, the daily consumer goods sector rose by 0.59%, the financial sector fell by 0.67%, the healthcare sector fell by 1.82%, and the energy sector fell by 2.79%.
In September, the energy sector fell by 2.79%, leading the decline, while the consumer discretionary sector and public utilities sector performed well (this is an unusually different combination of cyclical and defensive stocks).
In terms of investment research strategies, Peter Oppenheimer of Goldman Sachs believes that the valuation of the US stock market is high, and future gains will slow down, with valuation expansion possibly more pronounced in Europe or China, especially European stocks related to China which will further benefit from China's large-scale stimulus measures. BlackRock has shifted to overweight Chinese stocks due to expectations of significant fiscal stimulus measures in China
"Tech Seven Sisters" mostly rose. Apple rose by 2.29%. Google Class A rose by 1.16%. The United States canceled SB-1047 bill, allowing global developers to continue using large models open-sourced by American tech giants like Meta and Google. Google plans to invest $1 billion to build a data center in Thailand to accelerate the development of artificial intelligence in Asia. "Metaverse" Meta rose by 0.9%. Microsoft rose by 0.53%. Tesla rose by 0.45%. NVIDIA initially fell by 2.7% but then rose by 0.03%. It rose by 1.73% in September, continuing the 2.01% rebound in August. However, it fell by 1.7% in the third quarter, marking the first quarterly decline since 2022. Amazon fell by 0.87%.
Most chip stocks fell. Philadelphia Semiconductor Index fell by 0.85%, with a 0.28% increase in September. Industry ETF SOXX fell by 0.9%. NVIDIA's double long ETF rose by 0.1%. Intel fell by 1.88%. TSMC ADR fell by 2.42%. Broadcom fell by 0.11%. Arm Holdings fell by 1.77%. Micron Technology fell by 3.53%. Applied Materials fell by 1.4%. ASML ADR fell by 0.99%. KLA fell by 1.02%. AMD fell by 0.16%. Qualcomm fell by 0.05%. AMD fell by over 5%, while Marvell Technology rose by 1.59%. Ambarella ADR rose by over 0.2%. Seagate Technology rose by over 0.7%.
In September, Micron Technology rebounded by 7.76%, Arm rose by 7.62% after falling by 11.89% and 7.83% in the previous two months, Intel rose by 6.44% but the trend of continuous decline since 2024 has not changed, TSMC rose by 1.52%, continuing the 3.56% increase in August, AMD accumulated a decline of 4.87%, continuing the previous two months' declines of 14.37% and 37.62%.
AI concept stocks varied in performance. Dell Technologies fell by 1.4%. Dell Technologies CEO Michael S Dell sold 10 million shares of Dell stock on September 26, cashing out $1.22 billion. AMD fell by 0.8%. Serve Robotics fell by 7.34%. CrowdStrike fell by 1.89%. BullFrog AI fell by 3.69%. SoundHound AI, an AI voice company held by NVIDIA, fell by 2.51%. BigBear.ai fell by 5.81%. C3.ai rose by 0.04%. Snowflake rose by 0.83%. Oracle rose by 0.98%. Palantir fluctuated by 0.98%.
Chinese concept index surged then retreated. The Nasdaq Golden Dragon China Index rose by over 7% intraday before closing up by 0.45%, with a 29.60% increase in September. In ETFs, the China Technology Index ETF (CQQQ) rose by 3.88%, with a 28.91% increase in September. The China Internet Index ETF (KWEB) rose by 0.12%, with a 32.23% increase in September. The FTSE China 3x Bull ETF (YINN) rose nearly 6% intraday before falling by 3.65%, while the FTSE China 3x Bear ETF (YANG) rose by 4%
FTSE A50 index futures fell more than 1.80% in overnight trading before closing down 1.32% at 13,716.000 points, with a cumulative increase of over 18.75% in September. Hang Seng Index futures fell more than 2.18% in overnight trading, while Hang Seng TECH Index futures fell as much as 3.72% at one point.

Among popular Chinese concept stocks, Fangdd Network surged 146.03%, NIO rose over 18% before closing up 2.45%, ZEEKR rose nearly 20% before closing up 5.69%, Li Auto rose nearly 10% before closing down 0.5%, XPeng rose over 7% before closing down 4.25%, New Oriental Education rose over 10.9% before closing up 3.23%, MINISO rose over 15% before closing up 2.39%, Bilibili rose nearly 10% before closing up 2.01%. JD.com rose over 6.8% before closing up 0.25%, with JD.com announcing a 1.5 billion yuan investment to expand into the Hong Kong market with no cap on long-term investment. Baidu rose nearly 5.6% before closing up 0.11%, NetEase rose nearly 3.9% before closing down 0.07%, Pinduoduo rose over 5.6% before closing down 0.42%, Alibaba rose over 4.5% before closing down 1.13%, and Tencent Holdings ADR closed down 2.88%.

Due to the slowdown in the automotive market and intensified competition, several European carmakers issuing profit warnings led to a 4% decline in the automotive sector, pan-European stock indices fell 1% on Monday, with a 0.4% decline in September, European luxury stocks dragged down French stocks by 2%, but most luxury stocks saw gains in September, with LVMH down 16.13% in September:

The pan-European Stoxx 600 index fell 0.98% from the record high set last Friday, closing at 522.89 points, with a 0.41% decline in September. On Monday, various sectors of European stocks fell, with only the oil and gas sector rising by 0.24%. In September, the European healthcare and auto parts sectors fell by over 6%, the oil and gas index fell by 5.51%, and the materials sector rose by over 8.9%.
Automotive stocks led the decline by 4%, with several carmakers issuing profit warnings. Stellantis fell by 14.72% due to a slowdown in the automotive market and intensified competition, lowering its annual profit margin forecast, planning to reduce production and increase promotional spending. Aston Martin, a British luxury car manufacturer, saw a large drop of 24.51% in its stock price after lowering its full-year guidance. Since the beginning of the year, the company's stock price has almost halved. Renault in France fell by 5.57%, Porsche in Germany fell by 4%, Volkswagen fell by 2.02%, Mercedes-Benz Group fell by 2.44%, and BMW fell by 2.42%.
Most luxury stocks retreated, with Kering falling by 3.75%, L'Oréal falling by 2.93%, Hugo Boss falling by 2.51%, LVMH falling by 2.12%, Burberry falling by 1.27%, Hermes falling by 1.16%, L'Oréal falling by 0.96%, Pernod Ricard falling by 0.92%, and Richemont falling by 0.63%Hugo Boss led the way with a cumulative increase of 7.85% in September, followed by Beiersdorf with a 5.24% increase, Burberry with a 4.97% increase, LVMH Group with a 2.11% increase, Hermes with a 1.71% increase, L'Oreal with a 1.37% increase, while Pernod Ricard fell by 5.42%.

German stock index fell by 0.76%, with a cumulative increase of 2.21% in September. French stock index fell by 2%, with a cumulative increase of 0.01% in September. Italian stock index fell by 1.73%, with a cumulative decrease of 0.72% in September. UK stock index fell by 1.01%, with a cumulative decrease of 1.67% in September. Spanish stock index fell by 0.76%, with a cumulative increase of 4.17% in September. Dutch stock index fell by 0.80%, with a cumulative decrease of 0.93% in September.

Powell's hawkish tone drove the two-year U.S. Treasury yield up by about 10 basis points on Monday, narrowing the cumulative decline in September to nearly 26 basis points. Lagarde's speech raised investors' expectations of an ECB rate cut in October, with the two-year German bond yield falling more than 32 basis points in September:

US Bonds: At the close, the more interest rate-sensitive two-year US Treasury yield rose by 9.63 basis points to 3.6554%, after Federal Reserve Chairman Powell said "if the economy performs as expected, the Summary of Economic Projections (SEP) will imply that the FOMC will take action twice, with a total rate cut of 50 basis points," rising to 3.6677% to hit a daily high, with a cumulative decline of 26.31 basis points in September. The yield on the benchmark 10-year US Treasury bond rose by 5.13 basis points to 3.8019%, with a cumulative decline of 10.54 basis points in September.
Eurozone Bonds: The yield on the 10-year German bond, the benchmark for the eurozone, fell by 1.0 basis point, with a cumulative decline of 17.6 basis points in September. The two-year German bond yield fell by 0.9 basis point, with a cumulative decline of 32.4 basis points in September. The yield on the French 10-year government bond fell by 0.1 basis point, with a cumulative decline of 10.6 basis points in September. The yield on the Italian 10-year government bond rose by 0.1 basis point, with a cumulative decline of 24.8 basis points in September. The yield on the UK 10-year government bond rose by 2.6 basis points, with a cumulative decline of 1.2 basis points in September. The two-year UK bond yield rose by 4.3 basis points, with a cumulative decline of 12.6 basis points in SeptemberAfter Powell's speech, the US dollar index expanded its gains, but it has been falling for three consecutive months, with a cumulative decline of over 0.9% in September. The Japanese yen fell by over 1% to approach 144, but it has risen by 1.6% in September and over 10% in the third quarter. The offshore renminbi against the US dollar plunged by 350 points, briefly breaking below 7.01 yuan. In September, it rose nearly 830 points or 1.2%, marking three consecutive months of increase and a 3.8% rise in the third quarter. Last Thursday, it approached 6.97 yuan, hitting a 16-month high. In September, the offshore renminbi rose by over 800 points for three consecutive months. Bitcoin rose by over 7% in September, the second-highest increase in September in history:
US Dollar: The DXY, a basket of six major currencies, rose by 0.38% to 100.761 points. It has fallen by 0.92% in September, spending most of the month in a downward trend and dropping to 100.157 points on September 27 at 20:30 Beijing time.
Bloomberg's US dollar index rose by 0.30% to 1222.81 points, with a cumulative decline of 0.93% in September, dropping to 1216.47 points on September 25.

The US dollar has been falling for three consecutive months, with most of the decline coming from the inflation and employment data released at the beginning of September.

Non-US currencies rose in September: The euro fell by 0.23% against the US dollar, with a cumulative increase of 0.82% in September. The British pound remained relatively stable against the US dollar, with a cumulative increase of 1.89% in September. The US dollar rose by 0.63% against the Swiss franc, with a cumulative decline of 0.49% in September. Among commodity currencies, the Australian dollar rose by 0.17% against the US dollar, with a cumulative increase of 2.22% in September. The New Zealand dollar rose by 0.08% against the US dollar, with a cumulative increase of 1.60% in September. The US dollar rose by 0.08% against the Canadian dollar, with a cumulative increase of 0.26% in September. The Australian dollar hit a 19-month high, and the New Zealand dollar hit a 14-month high.
Japanese Yen fell towards 144: At the close, the Japanese yen fell by 0.98% against the US dollar to 143.60 yen, with a cumulative increase of 1.72% in September. On September 16, it rose to 139.58 yen. The Japanese yen fell by 0.72% against the euro to 159.89 yen, with a cumulative increase of 0.98% in September. The Japanese yen fell by 0.97% against the British pound to 192.075 yen, with a cumulative decline of 0.11% in September, showing a V-shaped reversal.
Offshore Renminbi (CNH): The offshore renminbi fell by 258 points at the close to 7.0074 yuan, trading overall in the range of 6.9735-7.0139 yuan. It rose by 826 points in September, marking the third consecutive month of increase and matching the number of consecutive months of increase in January, when it rose by 5795 points
Cryptocurrencies fell across the board on Monday. The market leader Bitcoin fell 3.14% at the close, trading at $64,065.00, with a cumulative increase of 7.38% in September, trading between $53,255.00 and $67,135.00 during the month. The second largest Ethereum fell 2.18% at the close, trading at $2,627.50, with a cumulative increase of 3.16% in September.

Bitcoin saw a 7.38% increase in September, its best month since May.

OPEC+ plans to increase production in December, coupled with weak demand from oil-importing countries, the tense situation in the Middle East failed to support oil prices, with both WTI and Brent crude falling for three consecutive months in September, down 6.2% and 6.7% respectively, while U.S. natural gas rose 17% in September:

WTI Crude Oil: WTI November crude oil futures closed down $0.01, a decrease of 0.01%, at $68.17 per barrel, with a cumulative decline of over 6.16% in September. Pre-market European stocks saw WTI crude oil hit a daily high, rising nearly 1.7% to break through $69.30, while mid-market European stocks hit a daily low, falling nearly 0.9% to approach $67.50.
Brent Crude Oil: Brent November crude oil futures closed down $0.21, a decrease of 0.29%, at $71.77 per barrel, with a cumulative decline of about 6.71% in September. Pre-market European stocks saw Brent crude oil hit a daily high, rising nearly 1.7% to break through $73.10, while mid-market European stocks hit a daily low, falling over 1% to approach $71.20.
Natural Gas: U.S. November natural gas futures rose 0.72%, trading at $2.9230 per million British thermal units, with a cumulative increase of 17.01% in September. The European benchmark TTF Dutch natural gas futures rose 0.99%, trading at €38.350 per megawatt-hour, with a cumulative decline of 2.29% in September. ICE UK natural gas futures fell 0.26%, trading at 96.150 pence per therm, with a cumulative decline of 7.80% in September.

Oil prices fell for three consecutive months, with U.S. oil falling nearly 6.2% in September, marking the worst month since October 2023.

Fed Chair Powell's hawkish remarks led to a rise in the U.S. dollar and U.S. bond yields, coupled with profit-taking and a surge in the Chinese stock market, pushing gold prices down by over 1.4%. However, gold still rose over 5.2% in September, driven by a 50 basis point rate cut by the Fed and escalating tensions in the Middle East. Spot gold hit a historical high of $2,685.42, up 13% so far this quarter, marking the best performance since early 2020:

Gold: COMEX December gold futures fell 0.47% at the close, trading at $2,655.50 per ounce, with a cumulative increase of 4.74% in September. Spot gold rose nearly 0.3% in early Asian trading to approach $2,670, then continued to decline. After Powell's remarks, it hit a daily low near $2,620, closing down 1.41% at $2,634.58 per ounce, with a cumulative increase of 5.24% in September, reaching a high of $2,685.58 on September 26
Silver: COMEX December silver futures fell by 1.58% at the close, to $31.420 per ounce, with a cumulative increase of 7.81% in September. Spot silver rose over 0.7% in early Asian trading to break above $31.80, then continued to decline. After Powell's speech, it hit a daily low of nearly 2.4%, approaching $30.80, and fell by 1.29% at the close, to $31.1595 per ounce, with a cumulative increase of 9.16% in September. It also rose to a monthly high of $32.7148 on September 26.
London industrial base metals rose in September on average. The economic indicator "Dr. Copper" rose by 1.54% to $9829 per ton, with a cumulative increase of 6.43% in September. London zinc rose by $2, with a cumulative increase of over 6.69% in September. London aluminum fell by 1.32%, with a cumulative increase of 6.74% in September. London tin rose by over 1.65%, with a cumulative increase of about 3.44% in September. London lead fell by 1.13%. London nickel rose by 3.05%, with a cumulative increase of 4.46% in September.
COMEX copper futures fell by 1.05% to $4.5510 per pound, with a cumulative increase of 8.05% in September.
Goldman Sachs reiterated its bullish recommendation on gold, raising the price target for early 2025 to $2900 per ounce (previously $2700). A research report from CITIC Securities believes that the broad U.S. monetary stimulus stimulates the financial attributes, while China's policy supports the commodity attributes, opening up the price space for industrial metals with a double impact of financial and commodity attributes.
Spot gold has risen for the 7th consecutive month in the past 8 months, making it the best month since March.

Updates before 23:00 on September 30th

Although U.S. stocks rose in September, the momentum was relatively weak. Looking ahead, historically, October has been extremely volatile for U.S. stocks, with significant declines occurring in this month. Influenced by significant stimulus policies, Chinese assets continue to surge.

All three major U.S. stock indexes fell, with Chinese concept stocks surging more than 7% during the day:

All three major U.S. stock indexes fell: The S&P 500 index fell by more than 0.2% at one point. The Dow, closely related to the economic cycle, fell by nearly 0.6% or 235 points at one point. The tech-heavy Nasdaq fell by more than 0.3% at one point.
In the early trading session, most major industry ETFs in the U.S. fell, with the financial sector ETF down by 0.6%, the energy sector ETF down by 0.6%, and the utilities sector ETF down by 0.56%.
Chinese concept stocks surged. The Nasdaq Golden Dragon China Index surged by more than 7% at one point, while the 3x long FTSE China ETF-Direxion surged by nearly 6% at one point. Among popular Chinese concept stocks, NIO surged by over 18% at one point, ZEEKR surged by nearly 20% at one point, Li Auto surged by nearly 10% at one point, Bilibili surged by nearly 10% at one point, XPeng surged by over 7% at one point, MINISO surged by over 15% at one point, Pinduoduo surged by over 5.6% at one point, Tencent ADR and Mengniu Dairy ADR remained nearly flat
"Tech Seven Sisters" mixed performance. NVIDIA fell nearly 3% at one point, Amazon fell over 1.1% at one point, Microsoft fell nearly 0.6% at one point, "metaverse" Meta rose over 0.5% before falling nearly 0.5%, Google Class A rose nearly 0.8% before giving back most of the gains, Tesla rose nearly 1.7% before turning lower, Apple rose nearly 2% before halving the gains.

Most chip stocks declined. The Philadelphia Semiconductor Index fell over 1.6% at one point; Micron Technology fell over 4% at one point, AMD fell over 1.3% at one point, TSMC's US stock fell over 2.6% at one point, Broadcom fell over 1.7% at one point, Qualcomm fell over 0.6% at one point, Intel fell over 2.1% at one point.
AI concept stocks with mixed performance. AMD rose over 4.3% before giving back most of the gains, SoundHound AI, a company held by NVIDIA, rose over 3% before giving back most of the gains, while BullFrog AI fell over 6% at one point, Serve Robotics fell nearly 6.3% at one point, Dell Technologies fell over 2.1% at one point, Oracle fell over 1.2% at one point.
FTSE A50 night futures once fell 1.40%, Hang Seng Index futures extended losses to 2.18% in the night session, Hang Seng Tech Index futures fell 3.72% at one point. The Nasdaq Golden Dragon China Index's gains narrowed to 1.4% at one point.

[The following is the content updated before 21:50]

Yesterday evening, China's existing home loan rates were lowered, and the three first-tier cities of Shanghai, Guangzhou, and Shenzhen introduced measures to relax restrictions on home purchases to boost the real estate market.

On Monday, September 30th, the Chinese stock market rallied, with Chinese stocks in the US soaring in pre-market trading, NIO rising over 10%, and Alibaba rising over 6%.

However, other Asia-Pacific stock markets generally fell, with the Nikkei falling nearly 5%, and the KOSPI and TAIEX opening lower. Commodity futures rose across the board, supported by stimulative real estate policies, with the industrial metals sector surging.

European stock markets opened lower, with automotive stocks leading the decline, as Stellantis and Aston Martin saw significant stock price declines due to the slowdown in the automotive industry. In addition, investors are facing a series of risks, including escalating tensions in the Middle East and changes in the European political landscape.

US stock market's three major indices collectively fell, while popular Chinese stocks continued to surge. The Nasdaq fell 0.02% at the opening, the S&P 500 fell 0.12%, and the Dow fell 0.34%.
European stocks opened lower, with the Euro Stoxx 50 index opening down 1%, automotive stocks leading the decline, Stellantis falling nearly 14%, and Aston Martin falling over 22%
Japanese stocks plummeted as Fumio Kishida was elected as the leader of the Liberal Democratic Party, raising expectations of a rate hike by the Bank of Japan. The Nikkei 225 index closed down 4.8%, while the TOPIX fell 3.5%. Fumio Kishida, who was elected as the leader of the Liberal Democratic Party on Friday, stated that the current monetary easing trajectory of the Bank of Japan must continue as it is still uncertain whether the economy has escaped deflation.
MSCI Asia Pacific index fell by 0.67%, with South Korean stocks declining, as the KOSPI index fell by 1%; Taiwan stocks continued to decline, with the Taiwan Weighted Index falling by 0.16%. Stock markets in Thailand, Indonesia, and Vietnam all declined.
Supported by supportive real estate policies, industrial metals surged. Singapore iron ore futures rose nearly 9%, COMEX copper futures rose over 2%, and Brent crude oil rose over 1%.
The Japanese yen fluctuated, with the USD/JPY pair briefly rising by over 0.5% to 142.92 before currently trading at 142.54. Following Fumio Kishida's unexpected election as the leader of the Liberal Democratic Party last Friday, the yen surged.
International oil prices rose, with the intraday gains narrowing in the afternoon, as both WTI and Brent crude oil rose by over 1.5%.

[21:35 Update]

At the opening of the US stock market, the Nasdaq fell by 0.02% in early trading, the S&P 500 index fell by 0.12%, and the Dow Jones fell by 0.34%.

NVIDIA fell by over 2.5%, while Apple rose by 0.88%.

The Nasdaq Golden Dragon China Index rose by 4.53%, with popular Chinese concept stocks continuing their previous uptrend, as JD.com rose by over 5%, NIO rose by over 15%, and Ctrip rose by over 3%.

[18:40 Update]

The STOXX 600 index in Europe fell by 1% at one point to an intraday low.

[18:40 Update]

The increase in oil prices narrowed, with US crude oil currently trading at $68.28 per barrel.

[18:11 Update]

The STOXX 50 index in Europe fell by 0.72% to 5030.94, with Stellantis currently down nearly 14%![] (https://wpimg-wscn.awtmt.com/57836c05-cd6e-42b3-b3bc-d424d2351a6a.png)

![] (https://wpimg-wscn.awtmt.com/612ed773-d241-41a4-8975-780e82fcc746.png)

[17:30 Update]

The Japanese yen continues to fluctuate, with the US dollar against the Japanese yen currently at 142.54.

![] (https://wpimg-wscn.awtmt.com/b1f48729-6f0b-46a2-a9dd-d0ae8066b67a.png)

Bitcoin falls below $64,000 per coin, down 3% intraday.

[16:40 Update]

Most European auto stocks are down, with Stellantis falling over 13%, Renault down nearly 6%, and Volkswagen down 2.7%. Earlier, Stellantis, Aston Martin, and Volkswagen all issued profit warnings.

![] (https://wpimg-wscn.awtmt.com/c819246b-7a97-4e23-ab9e-9f9cf95cc256.png)

[16:06 Update]

In pre-market trading, US stock index futures are slightly lower.

![] (https://wpimg-wscn.awtmt.com/4a2ff0c0-e978-4303-a0ba-ebc1111fb233.png)

Popular Chinese concept stocks continue to soar, with NIO up over 10%, Ctrip up over 3%, Alibaba up over 6%, and Pinduoduo up over 4%. Tech stocks are mixed, with NVIDIA down over 1%. Stellantis fell over 12% after lowering its full-year adjusted operating profit margin guidance.

![] (https://wpimg-wscn.awtmt.com/e9e1d804-e849-4476-8616-ab3189d10218.png)

[15:33 Update]

Investor risk appetite continues to improve, with significant gains in crypto assets. As of last Friday, Bitcoin has risen over 12% this month, potentially achieving its best performance in September since its launch in 2009.

Today, Bitcoin has a slight pullback, down about 1.7%.

![] (https://wpimg-wscn.awtmt.com/c58f993b-7096-41e8-9791-1388d25cf176.png)

[15:15 Update]

European stocks opened collectively lower, with the Euro Stoxx 50 index down 0.35%, the German DAX index down 0.17%, the UK FTSE 100 index down 0.36%, and the French CAC 40 index down 0.45%Stellantis European stock price fell by 7.4%, after lowering the full-year adjusted operating profit margin guidance.

[Update at 14:15]

The Nikkei 225 index closed down by 4.8% at 37,919.55 points. The TOPIX index in Japan fell by 3.5% to 2,645.94 points. Toyota Motor, Tokyo Electronics fell by nearly 8%, SoftBank Group fell by over 7%.

FTSE China A50 index futures rose by over 5% intraday.

[Update at 14:00]

International oil prices continue to rise, with both US and Brent crude rising by over 1.5% intraday, now at $69.25 per barrel and $72.71 per barrel. Over the weekend, there was a major escalation in the Middle East conflict! Goldman Sachs stated that oil prices have not yet factored in geopolitical risks.

[Update at 13:16]

The Nikkei 225 index's decline widened to 5%.