U.S. stocks closed higher on Thursday, with the 10-year U.S. bond yields reaching a 16-year high before retracing. The U.S. real GDP grew by 2.1% in the second quarter.  

As September trading draws to a close, major stock indices are set to record significant declines for the month and the third quarter. 

The fluctuation in U.S. Treasury yields has raised concerns. On Thursday, the 10-year U.S. Treasury yield surged to a high of 4.688%, the highest since 2007, before slightly retreating to close down nearly 5 basis points at 4.579%. 

Currently, U.S. stock trading for September and the third quarter is entering its final phase. Due to the recent continuous increase in U.S. Treasury yields, major stock indices are expected to post significant declines in both September and the third quarter. 

U.S. Stocks 

Fundamental Analysis: 

Most large tech stocks saw gains, with Tesla and Meta rising by over 2%, Google gaining over 1%, and Apple and Microsoft posting slight increases. Netflix and Amazon saw modest declines.  

The chip and semiconductor sectors were among the top performers, with AMD and Arm rising by nearly 5%, and Nvidia, Intel, and Qualcomm gaining over 1%. 

Bank stocks rose across the board, with JPMorgan, Goldman Sachs, Citigroup, and Bank of America gaining over 1%. Morgan Stanley and Wells Fargo saw slight increases.  

Micron Technology fell by over 4%, reporting an operating loss of over $1.2 billion for its fourth quarter, although it exceeded expectations. 

Chinese concept stocks experienced mixed performance, with the Nasdaq China Golden Dragon Index rising by 0.27%.  

Nio gained over 5%, XPeng Motors rose by over 3%, Weibo surged over 2%, and Vipshop gained over 1%.  

Manbang, Pinduoduo, Baidu, and Futu Holdings saw modest increases. iQiyi fell by over 2%, while JD.com, Li Auto, Alibaba, Tencent Music, Netease, and Bilibili saw slight declines. 

Technical Analysis:   

(S&P 500 Index, 1-day chart) 

Market Trends: 

• Dow Jones Industrial Average rose by 116.07 points, or 0.35%, closing at 33,666.34 points. 
• Nasdaq Composite Index gained 108.43 points, or 0.83%, closing at 13,201.28 points. 
• S&P 500 Index increased by 25.19 points, or 0.59%, closing at 4,299.70 points. 

Hong Kong Stocks 

Hong Kong stocks opened higher and continued to rise. Among major tech stocks, Meituan rose by nearly 4%, and Tencent Holdings gained nearly 3%.  

Property stocks remained strong, with Country Garden Group surging by nearly 9%, followed by Longfor Group and Evergrande Group.  

Automotive stocks were active, with all three major new energy vehicle companies rising.  

Nio and XPeng both gained nearly 9%. Pharmaceutical stocks, which were active in the previous session, saw some adjustments. 

Property stocks continued to rise, with Country Garden Group surging by over 12%, while Longfor Group and Evergrande Group followed suit.  

According to reports, Shenzhen will adjust and optimize the minimum interest rates for personal housing loans starting from September 29.  

The minimum interest rate for first-time homebuyers’ commercial personal housing loans will be adjusted to not less than 10 basis points below the corresponding loan market quoted interest rate (LPR), and the minimum interest rate for second-time homebuyers’ commercial personal housing loans will be adjusted to not less than 30 basis points above the corresponding LPR. 

Technical Analysis: 

(Hang Seng Index, 1-day chart) 

Market Trends: 

• Hang Seng Index (HSI) rose by 2.71%, closing at 17,843.13 points. 
• Hang Seng Tech Index (HSTECH) gained 3.66%, closing at 3,916.26 points. 
• Hang Seng China Enterprises Index (HSCEI) increased by 2.79%, closing at 6,157.45 points. 

FTSE China A50 Index 

Fundamental Analysis: 

The A-share market in China remained closed for the entire day in light of the China National Day holiday. 

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