A-shares will resume trading tomorrow, October 9th. During the past eight-day holiday period, global stock markets showed notable performance, with Japanese equities standing out the most. The Nikkei 225 index surged 6.24%, reaching a historic high, including a single-day gain of 4.75% on October 6th. On the news front, Sanae Takaichi's victory in the Liberal Democratic Party leadership election sparked market expectations that her policies will maintain monetary easing and expand fiscal spending, creating a "Takaichi rally."
The Korean stock market was only open for two days this month, with the KOSPI Composite Index hitting a new high on October 2nd. Market developments included Samsung Electronics and SK Hynix reaching preliminary supply agreements with OpenAI's Stargate project.
Both Hong Kong and US markets experienced initial gains followed by pullbacks. Hong Kong markets were open for three days during the holiday, with the Hang Seng Index and Hang Seng Tech Index showing a pattern of "sharp gains followed by volume-light corrections," closing with doji patterns near the 5-day moving average.
In US markets, technology stocks showed significant volatility, with both the S&P 500 and Nasdaq indices reaching historic highs. Prior to Tuesday, US tech stock movements were significantly influenced by OpenAI-related developments. On October 6th local time, AMD surged 23% in a single day following the signing of a 6-gigawatt chip cooperation agreement with OpenAI. Overall, the three major US indices continued their upward trajectory along moving averages. Analysis suggests that the lack of domestic capital support led to short-term adjustments, but the logic of tech stock valuation recovery remains strong amid Federal Reserve rate cut expectations.
Gold prices reached new historic highs. Spot gold broke through the $4,000/oz threshold early on the 8th and climbed above $4,040/oz in the afternoon. Analysis attributes the rapid gold price increase to escalating geopolitical issues and factors such as the US government partial shutdown. Additional data shows China's gold reserves at the end of September totaled 74.06 million ounces, an increase of 400,000 ounces month-over-month, marking the central bank's 11th consecutive month of gold accumulation.
Bitcoin prices also hit new highs during the holiday period. Analysis indicates that Bitcoin's rally was supported by US stock market gains and capital inflows into Bitcoin-related exchange-traded funds. The short-term strength in Bitcoin and other digital assets once again demonstrated the classic negative correlation with US dollar movements.