EUR/USD
1.17285
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Gold
3641.99
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Oil
62.750
0.782%
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147.509
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1.35603
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200.035
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Real-time News
On September 15th, Pop Mart (09992.HK) plunged nearly 9% on Monday, its biggest drop since April, hitting its lowest level in over a month, after JPMorgan Chase downgraded its rating to neutral, citing a "lack of catalysts and unattractive valuation." This followed social media posts pointing to weak demand for its new "SKULLPANDA" product, and JPMorgans downgrade heightened market concerns about waning popularity. JPMorgan analysts Kevin Yin and others stated in a report: "Current valuations already reflect perfect expectations. Any minor fundamental disappointment or negative media coverage (such as falling pre-owned prices or third-party licensing issues) could trigger a share price decline." Although the stock has still risen over 180% this year, its 12-month forward price-to-earnings ratio is now close to 23 times.On September 15th, the market generally expected the Federal Reserve to cut interest rates by 25 basis points this week, but uncertainty remained about the direction of the policy once it was implemented. Marc Giannoni, Barclays chief US economist, stated that with inflation remaining subdued, the FOMC will judge that downside risks to achieving its employment goals are increasing. He added that the Feds economic projections remained largely unchanged, but the dot plot indicated three rate cuts (each 25 basis points) this year, one each in 2026 and 2027, while the median long-term interest rate forecast remained unchanged at 3.0%.Yunfeng Financial (00376.HK) rose more than 18% and was recently approved to provide virtual asset trading services.Hong Kong stocks opened low and ended high, with the Hang Seng Tech Index up 1% and the Hang Seng Index up 0.23%. Bilibili (09626.HK) rose more than 5%, leading the constituent stocks.On September 15th, Nvidia announced that it is considering adopting TSMCs most advanced process technology, the A16 process, which will enter mass production in the second half of next year and is expected to be used in its future Feynman architecture. This process will utilize backside power supply technology. This will be the first time that AI applications will dominate TSMCs most advanced process technology.
