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On Thursday, September 10, the Hong Kong Hang Seng Index opened down 289.78 points, or 1.15%, at 24,985.18; the Hong Kong Hang Seng Tech Index opened down 61.38 points, or 1.39%, at 4,359.41; the H-share Index opened down 99.56 points, or 1.19%, at 8,269.49; and the Red Chip Index opened down 36.28 points, or 0.85%, at 4,227.13.

According to the Wall Street Journal: US President Trump took to the stage to present the Republican platform for the midterm elections.

September 10th – This morning (September 10th), a roundtable meeting between the National Development and Reform Commission (NDRC) and senior executives of US multinational corporations operating in China was held in Beijing, themed "Embracing the 15th Five-Year Plan and Jointly Seeking New Development." Representatives from over 60 US companies operating in China, representing sectors such as technology computing power, industrial energy, and consumer medicine, including Amazon Web Services, NVIDIA, Dell, and Honeywell (China) Co., Ltd., attended the meeting. At the meeting, relevant departments of the NDRC introduced the policy considerations related to the 15th Five-Year Plan, the situation of my country's foreign investment policies during the 15th Five-Year Plan period, the implementation results of the new round of large-scale equipment renewal and consumer goods trade-in policies, and the spirit of policies related to boosting consumption. Relevant officials introduced the development of Beijing's economic and social development and promoted Beijing's investment environment. Senior representatives of multinational corporations also delivered speeches and exchanged views.

On September 10th, Politico reported that California Governor Gavin Newsom signed two bills on Wednesday aimed at regulating how external agencies can assess the safety of artificial intelligence (AI) programs. Anthropic had already supported these bills in August, and OpenAI also expressed its support on Wednesday—just before the Democratic governor formally approved the bills. Newsom stated, "Recent events have raised concerns that further confirm the long-standing consensus in California that while artificial intelligence holds immense potential, its development and deployment must be accompanied by effective safeguards to protect public safety." Previously, Anthropic researcher Jacob Coxon announced his departure from the industry, citing concerns about AI going out of control. His related social media posts sparked heated online discussions, as people worried that AI could pose an existential threat.

Futures News, September 10th: Overnight oil prices surged, and positive news and cost guidance for fuel oil led refineries to increase volume and negotiate higher prices. Downstream buyers, driven by bullish sentiment, were cautiously but actively purchasing. It is expected that shipments of various domestic fuel oil products will remain stable with a slight upward trend today.

U.S. Treasury Secretary Bessant: From GDP to factory employment, all indicators are rising across the board, and the industrial cycle is moving from the investment phase to the production phase.

Brent crude futures closed above $101 overnight, and opened slightly lower this morning before falling back. A chart provides a quick overview of the pre-market conversion of domestic and international crude oil prices.

On September 10th, according to two sources familiar with the matter, the U.S. Department of Justice is investigating whether Nvidia (NVDA.O) attempted to circumvent antitrust scrutiny in connection with a deal signed last year with artificial intelligence chip maker Groq. Groq described the deal at the time as a "non-exclusive licensing agreement" allowing Nvidia to use Groq chips specifically designed by Groq for running AI tasks. As part of the arrangement, Groq CEO Jonathan Ross and COO Sonny Madeira joined Nvidia. AI companies have entered into numerous similar deals, including licensing technology and hiring key personnel from other companies, but without making direct acquisitions. These arrangements often circumvent the automatic government review of traditional mergers and acquisitions, which aims to determine whether a transaction would harm market competition.

According to the New York Times, regulators are investigating a licensing agreement between Nvidia and Groq.

September 10th - The seventh batch of national centralized procurement of medical consumables will open for bidding today (September 10th) in Tianjin. This round of procurement focuses on digestive interventional medical consumables, including 23 varieties, covering consumables related to gastrointestinal polyp removal and biliary and pancreatic interventional therapy, with a procurement cycle of approximately 3 years. This round of procurement adheres to the principles of "stabilizing clinical needs, ensuring quality, preventing internal competition, and preventing bid rigging," optimizing procurement rules, and balancing the protection of diverse clinical needs with high-quality development of the industry.

September 10th - According to Axios, the Trump administration plans to issue $500 refund checks to up to one million people who claim they were overcharged under the Obamacare scheme. These direct deposits will be distributed to residents of 30 states ahead of the November 3rd midterm elections; this comes as Trump heavily promotes the cost savings of his tax cuts and prescription drug program.

On September 10th, the World Trade Organization (WTO) released its Goods Trade Barometer on September 9th, showing an index of 102.0, higher than the baseline of 100 and the previous index of 101.7 in June, indicating that goods trade is above trend and continuing to grow. The WTO stated that despite ongoing geopolitical and policy-related uncertainties, global goods trade growth remains resilient. The negative impact of the Middle East conflict continues to be partially offset by strong demand for goods such as artificial intelligence-related electronic components. According to the WTO's rules for compiling the Global Goods Trade Barometer, a value of 100 is the baseline; an index greater than 100 indicates that global goods trade growth is higher than expected, while a value lower than 100 indicates that growth is lower than expected.

On September 10th, according to foreign media reports, US Treasury Secretary Bessant repeatedly warned investors that going against him would result in huge losses. He insisted that investors were making a big mistake, whether they were pushing up oil prices, depressing the yen, or pushing up US Treasury yields, because he was on the other end of the trade and possessed key information about government policy plans that investors did not have. In game theory terms, this is called "information asymmetry," a point Bessant likes to emphasize. But since Bessant began making tough statements on the bond and oil markets, two markets that affect the well-being of the American people, market movements have gone against his wishes. Mark Spindle, founder and chief investment officer of Potomac River Capital, said, "The market has seen through his bluff." He said that the huge federal deficit, coupled with concerns about the Federal Reserve's ability to curb inflation, has cast a shadow over Bessant's actions.

Nvidia (NVDA.O): Will support Australia in building up to 2 gigawatts (GW) of AI infrastructure by 2027.

Market news: Nvidia (NVDA.O) is partnering with the Australian data center ecosystem to expand its artificial intelligence infrastructure capabilities.

Foreign investors bought 690 billion yen worth of Japanese stocks in the week ending September 4, compared with 35.8 billion yen in the previous week.