---
title: "USTs flash warning; stocks under pressure; GOOGL's flagship AI model Gemini 4 nears launch | Daily News Recap"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/dolphin/post/44056966.md"
description: "0924 | Dolphin Research Focus: 🐬 Macro/Industries. UST yields jumped as U.S. PMI beat, the 5Y auction drew weak demand, and elevated oil stoked inflation jitters.The 5Y UST yield topped 5% for the first time since 2007, while the 10Y moved sharply higher. Markets raised the implied odds of another rate hike in Oct.With the global pricing anchor shifting up, Asia-Pac and Hong Kong equities softened alongside offshore risk sentiment. Markets are trading the 'higher for longer' theme, and Hong Kong, U.S., and A-shares fell in tandem..."
datetime: "2026-09-24T08:35:38.000Z"
locales:
  - [en](https://longbridge.com/en/dolphin/post/44056966.md)
  - [zh-CN](https://longbridge.com/zh-CN/dolphin/post/44056966.md)
  - [zh-HK](https://longbridge.com/zh-HK/dolphin/post/44056966.md)
author: "[Dolphin Research](https://longbridge.com/en/dolphin.md)"
generator: "portal-rs"
---

# USTs flash warning; stocks under pressure; GOOGL's flagship AI model Gemini 4 nears launch | Daily News Recap

## 0924 | **Dolphin Research Focus**

## 🐬 Macro / Sector

**1.** UST yields jumped as US PMI beat, a 5Y auction drew weak demand, and elevated oil rekindled inflation worries, pushing the 5Y above 5% for the first time since 2007. The 10Y surged and markets repriced a higher probability of an Oct rate hike.With the global risk-free rate resetting higher, APAC and Hong Kong softened alongside broader risk-off sentiment. Investors traded a 'higher-for-longer' rates view, and Hong Kong, US, and A-shares fell in tandem.

## 🐬 Stocks

**1.** $Alphabet(GOOGL.US) 

Google rolled out two text-to-speech models, Gemini 3.8 Flash TTS and Gemini 3.8 Flash‑Lite TTS. Flash TTS targets creative dubbing and multi-character dialogue, while Flash‑Lite emphasizes low cost and high concurrency and supports 130+ languages.The company also disclosed that flagship Gemini 4 has entered post-training, with an early release expected 'well before' year-end. This signals a faster cadence on premium AI features.

**2.** $SpaceX(SPCX.US) 

Per a regulatory filing, President Gwynne Shotwell plans to sell 342.17k shares for proceeds of roughly $51.96 mn, marking the first executive sale since the company listed, executed under a preset 10b5‑1 plan. Management said the sale is for personal financial planning and not a bearish signal.However, coming just before Starship’s orbital test, it highlights debate over a rich valuation and could weigh on near-term sentiment.

**3.** $Meta Platforms(META.US) 

At Meta Connect, the company unveiled lightweight Meta VR Glasses priced at $1,299.99 and weighing ~100g, powered by a Qualcomm chip and integrated with Muse AI, with launch targeted for spring 2027. The split-unit design significantly cuts weight and targets Apple’s Vision Pro.This bridges AI with immersive hardware and signals a shift from bulky headsets toward everyday eyewear.

**4.** $TENCENT(00700.HK) 

Tencent’s QClaw team announced that the local AI agent QClaw will cease operations at 00:00 on 2026.12.24. New user registration ends immediately, with data migration supported to WorkBuddy and credit subsidies offered.This is not an exit from the PC Agent track but a resource consolidation to route traffic into flagship WorkBuddy. It underscores intensifying competition among AI agents and a faster shake-out.

**5.** $Alphabet(GOOGL.US) 

The head of Google DeepMind said flagship Gemini 4 is in post-training, with early versions planned 'well before' year-end to catch up with OpenAI and Anthropic. Google needs a new flagship to fix high-end reasoning gaps.Yet post-training carries uncertainty around potential underperformance and delays.

**6.** $XIAOMI-W(01810.HK) 

Xiaomi’s Fall launch unveiled Xiaomi 18 Pro and 18 Pro Max, powered by the MiMo large model. Hardware upgrades include a privacy display and Leica dual 200MP main cameras, with AI capabilities enhanced across the lineup.AI smartphones are moving into deep hardware and on-device model integration. Xiaomi is making on-device LLMs a flagship selling point, fueling an AI feature arms race in handsets.

**7.** $BABA-W(09988.HK) 

Qwen released the Qwen‑Audio‑3.1 suite, launching five audio models in one go. It also cut prices across voice models, with ASR down as much as 95% and TTS down 70%.China’s voice-model price war is intensifying, sharply lowering developer onboarding costs and escalating rivalry. This will pressure peers to cut prices and iterate faster.

## 🐬 Top Gainers

**A‑shares:** consumer retail, forest products, footwear. These sectors led the market.

**Hong Kong:** residential builders, forest products, insurance brokers. These sectors led the market.

**US:** drug retailers, diversified chemicals, integrated oil & gas. These sectors led the market.

## 🐬 Watchlist for Tomorrow

1) Costco will report earnings. To watch.

2) US Sep 1‑yr inflation expectations (final). To watch.

Risk disclosure and statement: [Dolphin Research Disclaimer & General Disclosure](https://support.longbridge.global/topics/misc/dolphin-disclaimer). See link.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**