China's September PMI data due next week; A-share market closed Oct 1-7

China Economic Data Releases

• September 30: National Bureau of Statistics (NBS) releases September official Manufacturing PMI (August reading: 49.8). Non-manufacturing and Composite PMI will be released on the same day.
• September 28: NBS releases August year-on-year profit growth for industrial enterprises above designated size (July: +11.2%). January–August cumulative year-on-year prior reading: +17.6%.

A-Share Market: Lockup Expirations & IPO Schedule

• September 28–30: A-share market faces a wave of lockup expirations over three trading days following the Mid-Autumn Festival holiday. A total of 59 stocks will see lockup expirations, with 14.781 billion shares unlocked and a combined market value exceeding RMB 100 billion.
• Four stocks have lockup expiration values exceeding RMB 10 billion each:
• China National Air Cargo: ~RMB 22.107 billion
• Suzhou Energy: ~RMB 21.554 billion
• Xinke Mobile-U: ~RMB 17.258 billion
• Haitong Development: ~RMB 12.530 billion

• September 28 – October 2: Two new IPOs scheduled:
• September 28: Southern Dairy (ChiNext), Lianya Pharmaceutical (Beijing Stock Exchange)

Holiday Trading Schedule

• A-Share Market: Closed October 1–7; reopens October 8.
• Hong Kong Stock Exchange: Closed October 1 only; resumes normal trading October 2.
• Stock Connect:
• Southbound (Shanghai/Shenzhen → Hong Kong) and Northbound (Hong Kong → Shanghai/Shenzhen) services: Closed October 1–7; resume October 8.

U.S. Economic Data

• October 2: U.S. September non-farm payrolls report. Survey expectations: new jobs to slow to 100,000 (from 162,000 in August); unemployment rate expected at 4.2%.
• September 30: U.S. PCE Index release. Market expectations: August headline PCE year-on-year to hold at 3.7%; core PCE year-on-year to hold at 3.3%.

Technology & Space Events

• September 29: OpenAI Annual Developer Conference in San Francisco. CEO Sam Altman delivers opening keynote. Event also includes sessions on APIs, development tools, technical demonstrations, and developer workshops.
• September 28 (Monday): SpaceX's 14th Starship flight test scheduled for launch. The spacecraft will also attempt to deploy 26 next-generation Starlink V3 satellites.
• October 1: Tesla expected to officially unveil the long-delayed next-generation Roadster. The vehicle may feature a cold-gas propulsion system from SpaceX, fueling speculation that "Tesla's new car can fly."
• Upcoming: SpaceX plans to launch NASA's Crew-13 mission via Falcon 9. Google will also launch a prototype satellite carrying its self-developed TPU into orbit, marking the first in-space validation of TPU performance.

U.S. Politics & AI Policy

• Former President Donald Trump, House Speaker Mike Johnson, and several tech company CEOs are expected to hold a meeting on artificial intelligence. Markets are watching for further signals on U.S. AI policy and regulatory direction.

Corporate Earnings

• Micron Technology: Reports fiscal Q4 2026 earnings after market close next Wednesday. The results will serve as a key barometer for the DRAM, HBM, and broader AI data center supply chain outlook.