{Economic Information Daily, October 15} The U.S. Consumer Price Index (CPI) rose 3.7% year-on-year in September, accelerating from 3.4% in August and slightly higher than the expected 3.6%. The monthly increase expanded to 0.6%, the largest monthly rise since April, still in line with market expectations. With inflation remaining high, interest rate futures data indicate that the market expects at least one more rate hike before year-end. Coupled with a sharp decline in AI-related stocks, all three major U.S. stock indices fell on Wednesday (14th). The Hang Seng Index opened at 24,119, down 195 points or 0.8%, with main board turnover of HK$3.596 billion. The Hang Seng China Enterprises Index stood at 8,124, down 58 points or 0.7%. The Hang Seng Tech Index opened at 4,082, down 92 points or 2.2%.

    Bonds of CoreWeave, a U.S. AI computing power leasing giant, rapidly dropped to less than 80% of face value, a level typically indicating financial distress. Musk described the situation as "scary" on a social media platform. AI hardware stocks collectively opened sharply lower: Lenovo Group (00992) opened down 7.57% at HK$28.1, Hua Hong (01347) fell 5.6% to HK$78.4, SMIC (00981) dropped 3.31% to HK$52.5; GDS (09698) plunged 12.58% to HK$25.44, Biren Technology (06082) declined 11.43% to HK$25.1, Montage Technology (06809) fell 11% to HK$202.2, TianShu Zhixin (09903) slumped 9.09% to HK$84, and Cambridge Industries (06166) dropped 8.85% to HK$80.85.

    Tech and internet stocks also declined: Alibaba (09988) fell 2.08% to HK$108.2, Tencent (00700) dropped 1.98% to HK$415, Baidu (09888) declined 2.68% to HK$79.85, Meituan (03690) fell 1.49% to HK$75.95, and Kuaishou (01024) dropped 2.44% to HK$28.8.

    CATL (03750) opened down 6.98% at HK$434.4, marking three consecutive days of decline with a cumulative drop of 12.21%.

    Haier Smart Home (06690) opened up 1.77% at HK$20.68; BeiGene (06160) rose 1.72% to HK$213; ICBC (01398) gained 0.92% to HK$7.64. (ey)