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Hong Kong-listed mainland property stocks retreated and weakened, with Sunac China (01918.HK) falling more than 8%, Jinhui Holdings (09993.HK) falling more than 4%, and Longfor Group (00960.HK) and R&F Properties (02777.HK) following suit.
On September 22, the foreign ministers of the G7 countries called on Iran to halt its arms and support support to the Houthi rebels in Yemen, saying it constitutes a dangerous escalation pattern that could disrupt international trade and create global instability. The foreign ministers of the United Kingdom, Canada, France, Germany, Italy, Japan, and the United States issued a statement after meeting on the sidelines of the UN General Assembly, saying: "We condemn in the strongest terms the unacceptable attacks carried out by the Houthis in Yemen and against Saudi Arabia." "We call on the Houthis to immediately cease all military operations, all threats and attacks against civilian shipping, and to genuinely return to the political process."
Market news: South Korea briefed lawmakers on nuclear power plants, Texas power plants, and Alaskan liquefied natural gas projects, with a focus on the Texas energy project.
On September 22, South Korean Minister of Trade, Industry and Energy Kim Jong-kwan stated that the government has selected its first project under the $350 billion investment agreement reached between South Korea and the United States, and will brief lawmakers on two other projects under consideration. Seoul has not yet decided whether to proceed with the other two projects, but both reflect "the common interests of both countries." Kim Jong-kwan did not provide further details. After being briefed, South Korean lawmaker Chung Chin-ook stated that South Korea has decided to include a gas-fired power plant in Texas as the first investment project in the US under the aforementioned trade agreement. As part of a larger-scale nuclear energy investment plan under study, South Korea is discussing with the US investment in two APR1400 nuclear reactors designed in South Korea. South Korea is also seeking to acquire a 5% to 10% stake in Westinghouse Electric, a US nuclear power company. The South Korean lawmaker noted that the Alaska LNG project has not yet been confirmed for inclusion in the US investment plan.
Alibaba (09988.HK) continued its upward trend, rising more than 5%. CEO Wu Yongming said at the Yunqi Conference that Alibaba will fully invest in the construction of AI infrastructure, aiming to have Alibaba Clouds global data center scale exceed 20GW by 2032.