According to JPX, HKET and TAIFEX, Asian index futures firmed in overnight trading, with Wall Street's rebound setting a supportive backdrop. After the Federal Reserve raised rates by a quarter point, U.S. stocks recovered — the Nasdaq gained about 1.7% and the Philadelphia semiconductor index rose 3.1% — while the 10-year Treasury yield eased to about 4.93% and the dollar index hovered near the 100 mark. Nikkei 225 futures on the Osaka Exchange gained ground in the overnight session. The near-month December 2026 contract settled its night session at 64,770, up 570 points, trading between a low of 64,030 and a high of 65,030 on volume of 6,175 lots; the most active December 2026 mini contract closed the night at 64,795, up 595 points, on volume of 162,846 lots. Hong Kong's Hang Seng Index night futures ended the overnight session up 95 points at 24,667, while the China Enterprises (H-share) futures added 0.2% to 5,743. Among American depositary receipts, HSBC's ADR was up about 0.99% at an implied HK$161.38, Alibaba's U.S. shares rose 1.29% to an implied HK$106.45, and Tencent's ADR added 0.38% at HK$427.61, while Meituan's ADR eased 0.66% to HK$72.42. Taiwan's TAIEX futures night session on TAIFEX advanced, with the near-month October 2026 contract closing at 47,160, up 701 points or 1.51%. It opened at 46,594 and traded between a low of 46,538 and a high of 47,205 on volume of 21,169 lots.

US stocks rose Thursday as easing Treasury yields and falling oil prices, along with strength in key technology shares, helped traders recover the prior session's losses and shake off unease following the Federal Reserve's first rate hike in three years, according to Sina Finance. The Dow Jones Industrial Average gained 316 points, or 0.6%; the S&P 500 rose 1.1%; and the Nasdaq Composite advanced 1.7%. Technology stocks drove the broader market higher, with the "Magnificent Seven" all climbing: Nvidia rose 2.55%, Tesla 2.27%, Amazon 2.12%, Microsoft 1.52%, Apple 1.38%, Meta 1.32% and Google 1.28%. Among other stocks tied to the artificial-intelligence trade, Qualcomm rose 2% and Intel gained 7%. Among Chinese concept stocks, the Nasdaq Golden Dragon China Index closed up 0.24%; Haichuan Securities rose 27.92%, Adagene 6.31%, Daqo New Energy 5.48%, Pony.ai 5.11% and Burning Rock 4.79%. Treasury yields retreated, with the 10-year yield falling below 5%, down more than 5 basis points to 4.945%, after climbing back above that key level following Wednesday's Fed rate decision. The dollar index also pulled back after jumping the previous day. Falling oil prices likewise supported stocks. US crude fell less than 1% to about $101 a barrel, while Brent dropped about 1% to roughly $104 a barrel; Brent had topped $109 earlier in the week and fell as much as 2% intraday. Supply-disruption concerns eased amid reports that Saudi Arabia would supply more crude to Asian refiners via ship-to-ship transfers near Oman's Sohar port, while the market judged that export disruptions from a damaged pipeline may be less severe than initially feared. Some analysts attributed Thursday's rebound to investors recalibrating their reading of the Fed's hawkish tone, while others credited the drop in oil. The move marked a bounce from Wednesday's decline, when the Fed raised the overnight federal funds rate by 25 basis points and policymakers signaled another hike could come this year, with Fed Chair Kevin Warsh saying inflation remains too high. Robert Conzo, chief executive of The Wealth Alliance, described Thursday's trading in one word: "relief." He said there was a sense of relief that the Fed is addressing stubborn inflation, but warned markets could still face "extreme" volatility depending on how the Middle East conflict develops, noting that persistently high oil prices would feed into retail prices passed on to consumers and make inflation harder to slow.

JPMorgan strategists raised their forecast for the 2-year U.S. Treasury yield by 40 basis points to 4.7% and lifted their forecast for the 10-year yield by 20 basis points to 5.05%. According to Sina Finance, Jay Barry and other strategists at the bank wrote in a report that they believe U.S. Treasury yields will move higher over the year and said the current environment is similar to late 1999 to 2000, when the Federal Reserve raised rates by a cumulative 100 basis points amid strong economic growth and inflation. The bank said the forecast changes reflect its view that it is still too early to say the current yield uptrend has ended. It expects yields to mean-revert somewhat toward its fair value model, but also expects the pace of gains to slow in the coming months. JPMorgan said the outlook carries two-sided risks. With economic growth above trend and the labor market tight, Treasury yields could continue to climb. However, persistent shocks could slow consumer spending and lead markets to expect a slower pace of monetary tightening, while higher rates could also weigh on stocks and prevent yields from rising further from current levels, or even push them lower.

Nostra was hit by an oracle attack after a manipulated NSTR oracle price allowed a single account to borrow about $3.5 million in ETH, STRK, USDC, USDT, WBTC and DAI on Nostra's Starknet money market using NSTR as collateral. According to Odaily, the attacker has since bridged about $1.92 million in stolen funds, including 234.57 ETH and 1.3 million DAI, to Ethereum.

Catcher Predict monitoring showed sharp volatility in the Polymarket submarket for "Los Angeles Angels O/U 5.5" within the "Minnesota Twins vs. Los Angeles Angels" event, with the "Over" option rising from 23.5% one hour earlier to 40% at present. According to ChainCatcher, the move reflects a 16.5 percentage point swing and may be linked to breaking news.

Artificial intelligence, the trade war and the yuan are expected to dominate the agenda at the upcoming US-China summit, according to Bloomberg. Analysts are watching for signs of concessions or guardrails around areas of competition between the two countries.

Electra Therapeutics Inc. raised $350 million in an upsized US initial public offering priced at the midpoint of its marketed range, according to Bloomberg. The clinical-stage immunology drug developer completed the offering at the middle of the range it had marketed.

According to Sina Finance, citing unnamed supply-chain sources reported by the Taipei Economic Daily, TSMC's expansion in Longtan is expected to focus on 1.4-nanometer and below advanced processes, with an initial plan to build three wafer fabs. The first fab is planned to be completed and ready for mass production around 2030, and total investment is expected to exceed NT$1 trillion ($31.4 billion).

The Federal Reserve's resumption of interest rate hikes signals a tightening trend, while the 10-year Treasury yield breaking 5% and oil prices exceeding $100 have fueled inflation expectations. The market is betting on several more rate hikes, but due to the rising neutral interest rate, current policy力度 (intensity/strength) may be insufficient to completely suppress persistent inflation.

The U.S. Securities and Exchange Commission (SEC) issued a statement granting a conditional temporary exemption to tokenized securities trading venues and soliciting public comments. This clears the way for tokenized National Market System (NMS) stock trading.

Jinse Finance launches its cryptocurrency and blockchain industry daily news bulletin, "Jinse at 8 AM," issue 3185, providing you with the latest and fastest news on the digital currency and blockchain industry.

ZEC has just jumped from the fringes of the cryptocurrency world to become the seventh-largest cryptocurrency by market capitalization globally. What is the real driving force behind this?

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on AI, DeFi, DAO, NFT, and the metaverse.

Hong Kong's first five-year plan: Digital assets are not on the main table; the main theme is the foundation of RMB internationalization; encryption is a standard feature but not the main focus.

Warsh, Federal Reserve, "Hawkish Rate Hike" Warsh "Major Change" Golden Finance, Risks Clearly Lean Towards Interest Rates Remaining High for a Longer Period

Circle's growth is highly dependent on interest rates and distribution partners, and whether Arc can improve revenue retention remains to be seen.

Hong Kong’s first five-year plan shifts its policy focus to digital financial infrastructure, making the application scenarios for stablecoins a key competitive factor.

Can stock tokens become a viable investment opportunity? The author discusses his experience buying stocks on-chain and the policy risks of overseas derivatives in the A-share market.