Soared across the board.

On the morning of October 27th, global stock markets generally performed strongly. Among them, the Japanese and Korean stock markets opened higher and moved higher. As of press time, the Nikkei 225 Index, South Korea's KOSPI200 Index, and South Korea's KOSPI Index all rose by more than 2%, and all set new historical highs. The Nikkei 225 Index stood above 50,000 points.

In terms of individual stocks, Japanese stocks Kawasaki Heavy Industries rose more than 6%, Hitachi Shipbuilding, Hitachi, Komatsu Group, etc. all rose more than 3%.

On the Korean side, Hanna rose more than 20%, Modern Heavy Industries Holdings, Samsung Heavy Industries and more increased more than 10%, Modern Heavy Industries increased more than 7%, SK Heavy Industries increased more than 4%, Samsung Electronics increased more than 2%.

In addition to the Asia-Pacific stock market, major U.S. stock index futures also rose across the board. As of press time, Dow futures rose more than 0.58%, S&P 500 futures rose 0.69%, and Nasdaq 100 futures rose 0.88%.

In addition, the FTSE China A50 Index futures opened sharply higher on the basis of closing up 0.35% in night trading on the previous trading day, and once rose by more than 1%.

On the news, from October 25th to 26th, local time, He Lifeng, the Chinese leader of Sino-US economic and trade affairs and Vice Premier of the State Council, held Sino-US economic and trade consultations with the US leader, US Treasury Secretary Bescent and Trade Representative Greer in Kuala Lumpur, Malaysia. Guided by the important consensus reached by the two heads of state in previous telephone calls this year, the two sides conducted frank, in-depth and constructive exchanges and consultations on important economic and trade issues of common concern such as the 301 measures of the United States to China's maritime logistics and shipbuilding industry, the extension of the suspension period of reciprocal tariffs, fentanyl tariff and law enforcement cooperation, agricultural products trade, and export control, and reached a basic consensus on arrangements to solve their respective concerns. The two sides agreed to further determine the specific details and fulfill their respective domestic ratification procedures.

In addition, last Friday (24 October), the latest data released by the U.S. Bureau of Labor Statistics showed that U.S. September inflation data overall was lower than expected, strengthening market expectations for the Fed interest rate cuts. The data showed that the U.S. September Consumer Price Index (CPI) ratio rose by 0.3%, lower than this year's August and market expectation of 0.4%; the same ratio rose by 3%, and 0.1 percentage points lower than expected.

This week, global financial markets are about to usher in the "Super Central Bank Week", among which the Federal Reserve's interest-rate meeting has attracted much attention. According to the schedule, the Federal Reserve will hold an interest-rate meeting from October 28 to 29, and will announce the interest rate decision on the 29th, the early morning of the 30th Beijing time. The market generally expects the Federal Reserve to cut interest rates again by 25 basis points, to the range of 3.75%-4%.

According to the CME "Federal Reserve Observatory", the probability of the Federal Reserve to reduce interest rates by 25 basis points in October is 98.3%, the probability of keeping the interest rate unchanged is 1.7%; the probability of the Federal Reserve to reduce the interest rate by 50 basis points in December is 93.4%.

The CPI in the U.S. in September is lower than expected, the price of sensitive consumer goods is moderate, but the service inflation has warmed again, and the overall inflation situation remains smooth.If the US federal government shutdown continues, the Bureau of Labor Statistics may miss the sample period for the price data in October, but regardless of whether the next CPI report can be released on time, the current U.S. inflation and mild and weakened employment environment should strengthen the expectation of the Federal Reserve's continued reduction of interest rates, this week's Federal Reserve's interest rate meeting tone may be somewhat sluggish, and still expects the Federal Reserve to reduce interest rates twice a year, each 25 basis points.

Minsheng Securities believes that core inflation is expected to continue its moderate upward trend in September, which also means that the market's basically priced interest rate cut expectations in October are difficult to reverse. In the short term, the Fed's balance of job market risks has temporarily exceeded inflation. Recently, Powell has repeatedly emphasized that the labor market is showing more and more signs of weakness. Even in the absence of government data during the shutdown, the downside risk of employment has obviously increased. At least at the current point, moderate inflation leaves room for the Fed to cut interest rates in October, which may give priority to alleviating employment problems.

In addition, JPMorgan Chase and Bank of America strategists recently predicted that the Federal Reserve will announce at this week's interest-rate meeting that it will stop reducing its balance sheet of approximately US$6.6 trillion, thus ending this process of withdrawing liquidity from financial markets. The reason is the recent increase in borrowing costs in the US dollar financing market. Previously, they generally expected the Fed's balance sheet contraction process to end in December or early next year.

In addition to the U.S. Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of Canada will also publish their interest rate resolutions next week.October 30 Beijing time, the Japanese Central Bank and the European Central Bank will publish their interest rate resolutions, and the market generally expects both central banks to keep the current interest rate unchanged.

Regarding the A-share market outlook, CITIC Construction Investment Research News believes that the A-share market has fluctuated greatly since the National Day Mid-Autumn Festival, especially the growth sector represented by the GEM Index and the Science and Technology Innovation 50 Index, which once experienced an adjustment of about 10%. From the perspective of funds and emotions, market sentiment has indeed cooled down recently, and the pace of incremental capital inflows has also slowed down to a certain extent. However, overall, it has not stalled yet, and market sentiment has stabilized in the past two days. In terms of volume and price, considering the decline of more than 10% in the growth sector and the contraction of nearly half in the entire market, the market will be more consolidated in the short term, and the room for subsequent adjustment may be limited.

West China Securities Research Report pointed out that short-term risk appetite is expected to be boosted, and the "slow bull" market of A shares will continue. Structurally, "big technology" is still the main line in the medium and long term. This week, the financial reports of A-share listed companies and U.S. technology giants will be intensively implemented. Against the background of the acceleration of the global AI arms race, the guidance of technology giants' AI capital expenditure will become the focus, and the global technology AI market will usher in a window period of co-earthquake.