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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.
The State Council Information Office will hold a press conference on the national economic situation in ten minutes.