美聯儲理事沃勒：尤其擔心物價上漲呈現廣泛蔓延態勢。

On Tuesday a China Southern 1.25x long Kioxia single-stock leveraged product began trading in Hong Kong. The 1.25x gearing is lower than many Hong Kong single-stock leverage products that offer up to 2x exposure. Institutional analyst Rebecca Sin said interest in leveraged semiconductor exposure remains evident—reflected in large inflows to US leveraged semiconductor ETFs—but retail traders typically favour higher‑risk structures, leaving milder 1.25x–1.5x tiers less attractive than 2x–3x products. Tokyo-listed Kioxia has struggled to regain momentum as investors rotate away from AI trades; the broader semiconductor ecosystem is weighed by macro headwinds and geopolitical uncertainty. Kioxia is up over 100% year-to-date but about 75% below its June record high.

WALLER said the Fed needs to at minimum reverse the three earlier preemptive rate cuts. He said he is not "super-hawkish" and does not want to severely damage the economy or trigger a sharp downturn. He added the Fed will not raise rates by 150 or 200 bps.