Financial Market Preview - Monday 30-Sep

S&P futures are pointing to a flat open today, down (0.02%). In Asia, Greater China markets recorded historical gains, with the Shanghai Composite up +8%, while Japan's Nikkei 225 plummeted close to (5%) . European equity markets are broadly lower in early trades.

Chinese stocks have rallied for nine consecutive days as the CSI 300 surged +8.5%, its largest jump since 2008. Having lost over (45%) from its 2021 peak, the index has rebounded over +20%. Despite the rally, the MSCI China forward P/E remains at 10.8x. UBS has increased its target for MSCI China to $70. Morgan Stanley predicts an additional +10% upside for the CSI 300. HSBC notes that new measures from China's central bank may boost corporate buybacks.

Companies Mentioned: TPG, Boeing, OpenAI, Devon Energy