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chinese assets exploded.

the three major u.s. stock indexes opened higher collectively. as of press time, the nasdaq rose 0.78%, the s&p 500 rose 0.43%, and the dow jones industrial average rose 0.15%.

chinese assets performed well, with the nasdaq china golden dragon index rising by more than 2%. in terms of individual stocks, dada group rose by more than 16% and li auto rose by nearly 9%.

on september 17, hong kong stocks, which were traded first, also performed strongly. as of the close of the day, the hang seng index rose 1.37% and the hang seng tech index rose 1.12%.

chinese assets explode

on september 17, local time, after the u.s. stock market opened, chinese stocks performed strongly. as of press time, the nasdaq china golden dragon index rose 2.67%.

dada group rose more than 16%. in terms of news, dada group previously announced that jd.com bought 87.4813 million common shares and 1.875 million american depositary shares held by walmart's subsidiary. so far, jd.com has acquired all the shares of dada group held by walmart, and its shareholding ratio has increased to 63.2%.

li auto rose nearly 9%, xpeng motors rose more than 5%, and nio rose more than 4%. according to the automobile circulation association, the retail sales of new energy vehicles in august increased by 43.2% year-on-year, 6.3 percentage points faster than in july, and the penetration rate of new energy vehicles reached 53.9%, breaking through 50% for two consecutive months.

in addition, gds rose by more than 10%, niu electric and iqiyi rose by more than 6%, and shanda technology rose by more than 5%.

on september 17, hong kong stocks, which ended trading first, also performed strongly. as of the close of the day, the hang seng index rose 1.37% and the hang seng technology index rose 1.12%.

markets await fed's rate cut decision

at 2:00 a.m. beijing time on september 19, the federal reserve will announce its latest interest rate decision. the market generally predicts that the federal reserve will make a decision to cut interest rates at this meeting. the key question is whether it will cut by 25 basis points or 50 basis points.

in addition, federal reserve chairman powell will deliver a speech at a press conference after the interest rate meeting at 2:30 a.m. beijing time on september 19. market participants believe that his speech often provides more background and details, especially for the considerations behind the policy.

haitong securities research report believes that the overseas environment for this fed rate cut is more complicated. the us economy is similar to that of 1995, the us election is approaching, and the coordination of overseas monetary policies has declined. in previous fed rate cuts, the economic and monetary policy cycles of china and the us were relatively consistent, but this time there was a misalignment. in the future, we should pay attention to positive signals that may promote the recovery of fundamentals. haitong securities said that the fed's preventive rate cut may help improve the liquidity of a-shares, and the fundamentals need to be repaired and verified in the medium and long term. at the industry level, we should focus on the financial and consumer industries in the short term, and technology will gradually dominate in the medium term.

the strategy team of caitong securities believes that with the upcoming fed meeting, the probability of interest rate cuts is higher, and asset prices may rise across the board in the short term, with greater elasticity in growth and gold expectations. caitong securities said that the fed's interest rate cuts and the weakening of the us dollar have opened up domestic monetary policy space, and the market needs more active policies to complete the annual economic tasks. the central bank also stated that it would "further reduce corporate financing and resident credit costs" and "support the dynamic balance of total supply and total demand at a higher level." in terms of allocation, caitong securities believes that whether the future macro path will be a hard landing or a soft landing may become clearer within 3-6 months after the interest rate cut: if a soft landing is confirmed, the market may revise the interest rate cut path to be more conservative, with rising us bond interest rates, a strong us dollar, strong us stocks, weak gold, and strong copper, aluminum, and oil commodities. it is recommended to allocate global pro-cyclical assets, including nonferrous metals, home appliances, construction machinery, and us real estate chains in a shares. if a hard landing is confirmed, the global market will enter a defensive state, and it is recommended to buy various types of debt assets, including gold, us bonds, chinese government bonds, and low-valuation, high-dividend assets in a shares.