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china fund news reporter ivan

on september 30, eastern time, federal reserve chairman powell’s latest speech was relatively hawkish, suppressing market expectations for a sharp interest rate cut in november. u.s. stocks rose slightly across the board that day, and closed up across the board throughout september.

chinese concept stocks soared that month! the nasdaq golden dragon china index rose nearly 30% in september, and three chinese concept stocks rose more than 100% during the day!

apple closed up more than 2%. india will investigate the cause of the fire at apple's mobile phone parts factory.

fed chairman powell’s latest statement

on september 30, local time, federal reserve chairman powell stated at the national association of business economics (nabe) in nashville that the federal reserve was in no rush to cut interest rates quickly and would instead make decisions based on data.

powell said that the rate cutting process will be gradual "over a period of time" and there is no need to rush into action. before the november meeting, there are still two employment reports and an inflation report to be released, which will be considered in the november interest rate decision. all factors.

powell expects two more rate cuts this year, totaling 50 basis points, if the economy develops as expected, and the market has been betting on a more aggressive rate-cutting cycle.

he pointed out that the fall in inflation has a broad basis. recent data shows further progress in achieving the goal of sustained return to 2%. federal reserve officials have greater confidence that inflation will fall toward the 2% goal.

the three major u.s. stock indexes rose slightly

on september 30, eastern time, the three major u.s. stock indexes rose slightly across the board. as of the close, the dow jones index rose 0.04% to 42,330.15 points; the s&p 500 index rose 0.42% to 5,762.48 points; the dow jones industrial average and the nasdaq composite index both set new closing highs; the nasdaq composite index rose 0.38% to 18,189.17 points.

in addition, the dow rose 1.85% in september, the s&p rose 2.02%, and the nasdaq rose 2.68%.

a panel of economists from the national association of business economics (nabe) noted that overall risks to the economy are rising, with 55% of economists saying the economy is more likely to underperform than expected than to exceed expectations, and the fed's policy considered to be the primary influencing factor. according to the panel's median forecast, u.s. economic growth is expected to decelerate to 1.8% next year from the 2.6% forecast this year, while the unemployment rate will rise to 4.4% from the current 4.2% and the inflation rate next year will reach 2.1%. in addition, two-thirds of respondents do not expect a recession to occur until 2026 at the earliest.

chinese concept stocks soared nearly 30% in september

on september 30, eastern time, chinese concept stocks closed up collectively again. the nasdaq golden dragon china index rose slightly by 0.45% that day, but over time, the index has risen by nearly 30% in september.

among popular stocks, futu holdings rose nearly 12%, tal rose nearly 10%, new oriental rose more than 3%, nio rose more than 2%, jd.com rose 0.25%, and baidu rose 0.11%.

in addition, three chinese concept stocks rose by more than 100% that day, namely fangduoduo, youyi interactive and kaixin auto.

apple closes up more than 2%

on september 30, local time, apple closed up more than 2%.

according to the news, openai has been conducting a round of investment with potential investors that may bring in nearly $7 billion in investment. apple no longer participates in openai financing round negotiations. apple recently withdrew from talks to join the round, which is set to end next week, according to people familiar with the matter. two other technology giants, microsoft and nvidia, are also participating in this round of negotiations. according to people familiar with the matter, microsoft is expected to invest about $1 billion in addition to the $13 billion it has already invested in the company. financing negotiations have not yet been completed and participants and investment amounts are subject to change.

apple plans to launch a new smart home device in the spring of 2025 that will combine the functions of the ipad, apple tv and homepod. the device will be equipped with an a18 chip, enabling it to support apple's artificial intelligence capabilities.

officials in the southern indian state of tamil nadu said on september 29 that the local judicial department had dispatched investigators to investigate the cause of the fire that occurred at the tata electronics apple mobile phone parts factory the previous day. currently, the factory where the incident occurred is still shut down. the factory, located in hosur, tamil nadu, caught fire in the early morning of the 28th.