Heads up: China markets shut Friday for Mid-Autumn Festival, with week-long Golden Week break ahead

With mainland markets and Stock Connect shut on the final day of the Trump-Xi summit, Hong Kong equities and the offshore yuan become the main channel for pricing any China-related headlines. Thinner cross-border flows can amplify moves in Hong Kong-listed China names, since southbound mainland buying is absent. The compressed three-day window before the National Day break raises the odds of pre-holiday de-risking in mainland assets. Commodity traders should note the pause in Shanghai futures, which removes a key source of Asian-hours price discovery for metals and energy through both holidays. --- China's markets take one day off now and a full week off soon, leaving Hong Kong to do the heavy lifting for China trading through the holiday season. Summary: The Shanghai and Shenzhen stock exchanges are closed on Friday, September 25, for the Mid-Autumn Festival, reopening Monday, September 28 Northbound and southbound Stock Connect are closed, while Hong Kong's exchange stays open, with its holiday falling on Saturday Shanghai futures have no night session Thursday and are shut Friday through Sunday Mainland markets trade only Monday to Wednesday next week before closing for National Day from October 1 to 7 Trading resumes on Thursday, October 8, and exchanges stay shut on the October 10 make-up working day The Friday closure coincides with the final day of the Trump-Xi summit, leaving Hong Kong and the offshore yuan to lead any reaction The Shanghai Stock Exchange and Shenzhen Stock Exchange are both shut for cash equity trading on Friday, with regular trading resuming on Monday, September 28. Northbound and southbound Stock Connect channels linking the mainland and Hong Kong are also closed, cutting off cross-border equity flows for the day. Hong Kong Exchanges and Clearing remains open on Friday, as the city observes its Mid-Autumn public holiday on Saturday, September 26. Onshore futures markets follow a similar pattern. According to exchange notices, the Shanghai