(1) Stock Market News

* U.S. Market

The U.S. stock market closed with the Dow Jones Industrial Average up by 137 points or 0.33% at 42,313 points; 

the S&P 500 fell by 0.13% to 5,738 points; the Nasdaq Composite fell by 0.39% to 18,119 points. The Golden Dragon Index, 

which reflects the performance of Chinese concept stocks, rose by 4% to 7,236 points. For the week, the three major U.S. stock

 indices have risen for three consecutive weeks, with the Dow and S&P both up by about 0.6%, and the Nasdaq Composite up by 0.95%.

* Hong Kong Market

The Hang Seng Index rose by over 700 points again, stabilizing above 20,000 points, with a transaction volume of over 440 billion,

 setting a new historical high. The Hang Seng Index accumulated a rise of over 2,300 points for the week.

The central government has been vigorously supporting the economy in recent days, coupled with the upcoming National Day holiday, 

the Hang Seng Index has risen for four consecutive days, and the single-day transaction volume of Hong Kong stocks has broken through

 440 billion yuan, breaking the record of over 360 billion yuan in 2021, setting a new historical high. Some citizens say 

that the central government's policy support has increased their confidence in entering the market.

* Mainland Market

The Shanghai Composite Index closed at the highest point of the day, closing at 3,087 points, up by 86 points or 2.88%, 

with a transaction volume of 480.613 billion yuan. Summarizing the week, the Shanghai Composite Index accumulated a rise of 350 

points or 12.81%, rising for two consecutive weeks. The Shenzhen Component Index closed at 9,514 points, up by 598 points or 6.71%, 

with a transaction volume of 965.392 billion yuan. The CSI 300 Index reported at 3,703 points, up by 158 points or 4.47%; the ChiNext Index reported at 1,885 points, up by 171 points or 10%.

(2) Economic News

* As the Golden Week approaches, Xu Yingwei, Executive Director of the Hong Kong Hotel Owners' Federation, said on a radio program

 that the peak of hotel occupancy rates will be from October 1st to 4th, but there will be a cliff-like decline after October 5th.

Xu Yingwei pointed out that the industry's turnover during the summer vacation period fell by 20%. There are still hotel rooms available

 for booking during the Golden Week, and the industry is cautious about the business during the National Day Golden Week. 

At present, the hotel prices in Hong Kong are not high and have been reduced. It is hoped that the government can notify the industry earlier 

about the events that will be held, so that the industry can connect the activities, launch different products, and attract tourists.

* The "Semi-Annual Report on Monetary and Financial Stability" released by the Hong Kong Monetary Authority pointed out that in the first half 

of this year, the overall pre-tax operating profit of retail banks rose by 6.2% year-on-year. The increase in profits was due to the increase in

 investment income held for trading, but part of the increase was offset by the decrease in net interest income, as well as the increase in total 

operating expenses and loan impairment provisions. As a result, the return on assets rose slightly from 1.13% to 1.18%.

* Shanghai and Shenzhen are planning to cancel existing restrictions on housing purchases to stimulate housing consumption demand and boost the sluggish real estate market.

* The Ministry of Finance announced that state-owned enterprises recorded a total profit of 2.88 trillion yuan (RMB, the same below)

 in the first eight months of this year, a year-on-year decrease of 2.1%; the total business income increased by 1.4% year-on-year to 53.81 trillion yuan. 

By the end of August, the debt-to-asset ratio of state-owned enterprises was 64.9%, an increase of 0.1 percentage points.

* The People's Bank of China stated that it will improve the pricing mechanism for commercial personal housing loans, allowing existing mortgages 

that meet certain conditions to renegotiate the additional point range, promoting a reduction in the interest rates of existing mortgages. 

The market interest rate pricing self-discipline mechanism also issued an initiative, and all commercial banks should carry out batch adjustments

 for eligible existing mortgages before October 31st this year, with an expected average decline of about 0.5 percentage points.

* The U.S. PCE price index rose by 2.2% year-on-year in August, expected to rise by 2.3%, the previous value rose by 2.5%, and the core PCE rose by 2.7% 

year-on-year; personal spending increased by 0.2% month-on-month, and personal income increased by 0.2%. The final value of the University of 

Michigan's September U.S. Consumer Confidence Index was 70.1, expected to be 69.3. The initial value of the U.S. goods trade deficit in August was $94.3 billion, 

expected to be a deficit of $100.2 billion, and the previous value was a deficit of $102.7 billion.

(3) Company News

* The Hong Kong Stock Exchange (00388) pointed out that the trading in the Hong Kong stock market today is very active, showing the vitality of 

the international financial center. The transaction volume of both securities and derivative products has set a new high, and many products including 

exchange-traded products (ETP) have also set a new transaction record.

The Hong Kong Stock Exchange cited data showing that the transaction volume of the derivative market today was 4.263 million contracts, 

and the transaction volume of "Stock Connect" was 147.9 billion yuan, both of which are historical highs.

* Bank of Communications (Hong Kong) announced the launch of 7 silver bond subscription fee exemption offers. Customers who successfully

 subscribe to silver bonds through the bank can enjoy a full exemption of subscription fees, as well as exemption of purchase transaction fees,

 sale transaction fees, maturity redemption fees, storage fees, interest collection fees, and bond deposit fees.

At the same time, the bank also provides a variety of subscription channels for customers to choose from. In addition to subscribing through online banking, 

mobile phone banking, or telephone banking, customers can also go to all branches to handle subscription procedures.

* The Cheung Kong Group (Cheung Kong Holdings (01113), CK Hutchison (00001), Cheung Kong Infrastructure (01038), and Power Assets (00006)) was 

honored as the second-highest fundraising institution of the Community Chest in the 2023/2024 annual award ceremony held today, 

and has been one of the top three highest fundraising institutions for the 25th time in a row. Zhao Rucheng, a member of the Executive Committee,

 a member of the Finance Committee, and the Director of Special Projects of Cheung Kong Holdings, accepted the award on behalf of Li Lin Lichan, the President of the Hong Kong Community Chest.

* JD Group (09618)'s JD Property Development stated that it has successfully completed the acquisition of the Li & Fung Center in Hong Kong, which is a logistics center.

JD Property Development said it is pleased to add logistics infrastructure in Hong Kong, reflecting the company's team's efficient 

procurement and deal completion capabilities, and the ability to continue expanding its business in Hong Kong. The company believes that through this acquisition, 

it will continue to provide efficient and reliable logistics services in Hong Kong. The group will continue to actively explore other opportunities in major markets in the Asia-Pacific region.