Speaker of the Brazilian House of Representatives: Hopes to vote on the income tax exemption bill next week.

Germany's DAX 30 index closed down 122.49 points, or 0.52%, at 23,522.76 on Monday, September 22. The UK's FTSE 100 index rose 6.48 points, or 0.07%, to 9,223.15 on Monday, September 22. France's CAC 40 index fell 23.48 points, or 0.30%, to 7,830.11 on Monday, September 22. Europe The Stoxx 50 index closed down 17.57 points, or 0.32%, at 5,440.85 on Monday, September 22. The Spanish IBEX 35 index closed down 236.93 points, or 1.55%, at 15,077.37 on Monday, September 22. The Italian FTSE MIB index closed up 91.72 points, or 0.22%, at 42,404.00 on Monday, September 22.

International 1. Citi: The gold bull market is likely to continue in the short term. 2. Citi: Brent crude oil may fall to $60 per barrel by the end of 2026. 3. Citi: The de-dollarization narrative is a mirage lacking economic data support. 4. Societe Generale: After the Fed's decision, the market's focus returns to inflation data. 5. RBC: The European and American exchange rates are expected to rise to 1.24 in the fourth quarter of 2026. 6. Capital Economics: The Fed's rate cut is unlikely to significantly boost commodity prices. Domestic 1. CITIC Securities: A-share mid-year reports are still bottoming out overall, and overseas markets are a key clue to exceeding expectations. 2. CITIC Securities: Focus on resources, innovative drugs, consumer electronics, chemicals, gaming, and defense. 3. CICC: This round of market activity may be more conducive to a "long-term" and "steady" outlook. 4. Zhongyuan Securities: Domestic computing chips are experiencing a significant moment, surpassing both supernode and cluster levels. 5. CITIC Securities: my country's policy direction is expected to remain primarily focused on fiscal and monetary expansion during the 15th Five-Year Plan period. 6. CITIC Securities: Demand for perovskites and solid-state batteries is catalyzing investment opportunities in the iodine industry chain. 7. CITIC Securities: The overall performance of the electronics industry is expected to continue its growth trend under normal demand in Q3 2025. 8. Huatai Securities: Positive feedback from the capital market continues. 9. Minsheng Securities: The industrialization of humanoid robots is experiencing multi-dimensional resonance, and the implementation of application scenarios is accelerating. 10. Galaxy Securities: We recommend four main themes to seize investment opportunities in the construction industry during the 15th Five-Year Plan period.