📈 Wall Street Rides AI Wave as Oracle Ignites Market, Apple Drags Dow
US:S27.SI:S&P 500
The S&P 500 climbed 0.3% to a record 6,532.04, after touching an intraday high of 6,555.97. The index surged on easing inflation signals, with wholesale prices unexpectedly falling 0.1% in August.
US:QQQ:Nasdaq Composite
The Nasdaq Composite edged up 0.03% to close at 21,886.06, marking another record despite afternoon pullbacks.
US:DGT:Dow Jones Industrial Average
The Dow Jones Industrial Average fell 220.42 points, or 0.48%, to 45,490.92, weighed down by a drop in Apple (US:AAPL:Apple) after its latest iPhone launch disappointed.
US:ORCL:Oracle
Oracle skyrocketed nearly 36%, its best day since 1992, as cloud database revenue from Amazon (US:AMZN:Amazon), Google (US:GOOGL:Alphabet), and Microsoft (US:MSFT:Microsoft) surged 1,529%. The company forecasted massive future cloud growth, lifting AI sentiment across markets.
US:NVDA:Nvidia
US:AMD:Advanced Micro Devices
Nvidia gained 3.9% and AMD added 2.4% as investors piled into AI-linked trades.
US:GME:GameStop
GameStop rose 4% after reporting stronger-than-expected Q2 results with EPS of $0.25 and revenue of $972.2M, boosted by hardware sales from the Nintendo Switch 2 launch and collectibles growth.
US:UCO:Oil
U.S. crude oil prices closed at $63.67, down 11% this year. Energy Secretary Chris Wright said U.S. oil output may plateau temporarily but expressed long-term optimism.
US:SNPS:Synopsys
Synopsys plunged 35% after CEO Sassine Ghazi warned of U.S.-China trade tensions hitting its IP business. Partnerships with Samsung (KRX:005930:Samsung Electronics), Intel (US:INTC:Intel), and Nvidia face risk as export restrictions weigh on AI hardware demand.
US:NKE:Nike
Nike jumped on an upgrade from TD Cowen, which raised its price target to $85, citing “underappreciated” margin recovery and improving footwear trends.
US:KR:Kroger
US:ADBE:Adobe
Investors eyed earnings ahead: Kroger is set to report before the bell, with Adobe following after the close.
US:OXM:Oxford Industries
Oxford Industries, parent of Tommy Bahama and Lilly Pulitzer, surged 14.7% after beating EPS estimates, though revenue fell short.
US:BABA:Alibaba
Alibaba slipped 2% after unveiling plans to raise $3.2B through zero-coupon convertible senior notes maturing in 2032.
US:GS:Goldman Sachs
US:AZO:AutoZone
US:LYV:Live Nation Entertainment
US:HPE:Hewlett Packard Enterprise
US:AVGO:Broadcom
US:MU:Micron
US:ANET:Arista Networks
US:NEM:Newmont Mining
Several S&P 500 stocks hit 52-week highs, including Goldman Sachs, AutoZone, Live Nation, HPE, Broadcom, Micron, Arista Networks, and Newmont Mining. Meanwhile, Chipotle (US:CMG:Chipotle Mexican Grill), Colgate-Palmolive (US:CL:Colgate-Palmolive), Keurig Dr Pepper (US:KDP:Keurig Dr Pepper), McCormick (US:MKC:McCormick), and Constellation Brands (US:STZ:Constellation Brands) slid to fresh lows.
🚀 Oracle Skyrockets, Broadcom Bets Big, Nvidia Pushes Boundaries: AI Boom Lifts Wall Street
US:AVGO:Broadcom
Broadcom revealed CEO Hock Tan’s new compensation package, tied to AI chip sales hitting US$90–120 billion by 2030. The deal could net him up to US$616.6 million. Broadcom is pushing custom AI chips as rivals to US:NVDA:Nvidia processors and has reportedly secured OpenAI as a major new customer.
US:NVDA:Nvidia
Nvidia announced Rubin CPX, a new AI processor launching in 2026 to power video generation and software creation. CEO Jensen Huang said the new GPU design will improve efficiency by separating AI reasoning from response generation. Nvidia estimates US$100 million in new hardware could deliver US$5 billion in customer revenue. Its data center revenue is forecast at US$184 billion this year.
US:ORCL:Oracle
Oracle surged as much as 43%, its best rally since 1992, after unveiling a bullish outlook for cloud business. Market cap soared to US$969 billion, making Larry Ellison the world’s richest person. Oracle’s cloud deals include OpenAI, US:AMZN:Amazon, US:MSFT:Microsoft, US:GOOGL:Alphabet, US:NVDA:Nvidia, and ByteDance’s TikTok. Bookings hit US$455 billion, four times last year’s level, with projections to surpass US$500 billion soon.
JP:6857:Advantest Corp
KRX:000660:SK Hynix
Oracle’s rally lifted Asian AI suppliers, with Advantest Corp up 3.2% in Japan and SK Hynix advancing 5.6% in South Korea.
US:GS:Goldman Sachs
At a Goldman Sachs conference, Broadcom’s Hock Tan confirmed rising AI chip demand but avoided giving sales forecasts beyond 2025, where analysts expect US$20 billion in AI revenue.
Shareholders of Centurion vote overwhelmingly in favour of REIT listing
UOL to sell KINEX mall for $375 million
Rex International reports 12,230 boepd from Norway, Oman and Germany in August
Sing Holdings-Sunway JV awarded second site at Chuan Grove, paying nearly $1.3 billion in total
Nio to raise US$1 billion selling ADS at US$5.57 and Class A shares at HK$43.36
LHN to spin-off and list co-living business; posts growth in 3QFY2025 update
RHB‘s Yeo raises target price for Food Empire to $2.72
In view of the market rerating and his positive forecast, Yeo derives the new target price of $2.72 after pegging the stock to 18x blended FY2025 and FY2026 earnings, from a lower valuation multiple of 12x FY2025 earnings previously, which is in line with its peers’ rerating.Del Monte Pacific 1Q FY2026 Results: 13% Sales Growth, Strong Philippine & International Performance
✨ Gold Rush Fuels CNMC’s Meteoric Rise Amid Trump’s Tariffs and Record Prices
SGX:5TP.SI:CNMC Goldmine
CNMC Goldmine has surged 279.6% year-to-date, crushing the SGX:S27.SI:Straits Times Index (STI) gain of 14.8%. Since April, when Trump’s “Liberation Day” tariffs roiled markets, CNMC shares have soared 118.8%.
Its H1 2025 earnings jumped 256.1% year-on-year to US$15.8M, on revenue of US$52.8M (+78%). EPS rose to S$0.0518, driven by a 26% increase in gold output and a 41.1% jump in average selling price to US$3,197/oz. With gold now above US$3,600/oz and its carbon-in-leach plant expansion boosting ore capacity from 500 to 800 tonnes/day, analysts expect profits to stay elevated.
SGX:5TP.SI:CNMC Goldmine
US:GLD:SPDR Gold Shares
US:GDX:VanEck Gold Miners ETF
Gold has surged above US$3,200/oz this year, up from US$2,624.5 at end-2024, sparking debate over its role as safe haven or speculative asset. While SPDR Gold Shares (GLD) gained 38%, VanEck Gold Miners ETF (GDX) outperformed with a 97.1% return, boosted by holdings like US:NEM:Newmont, US:GOLD:Barrick Gold, and US:GFI:Gold Fields.
US:NEM:Newmont
US:GOLD:Barrick Gold
US:GFI:Gold Fields
Heavyweight miners are outperforming gold itself, with increased profitability enabling reinvestment, M&A, and higher dividends.
US:BRK.A:Berkshire Hathaway
Warren Buffett’s 2011 letter argued gold is “unproductive” compared with assets like US:KO:Coca-Cola or See’s Candies, yet soaring gold prices have made miners highly profitable.
CNMC rewarded investors with S$0.015 per share in H1 2025 dividends (29% of earnings), surpassing the S$0.014/share payout for all of 2024. SAC Capital forecasts EPS of S$0.103 (2025) and S$0.12 (2026), with a target price of S$1.13. CNMC closed at S$0.93 on Sep 10, valuing it at S$377M. The brokerage projects a 3.8% yield based on 2025 dividends.
Still, CNMC’s small size poses risks of earnings volatility and limited growth options. For investors betting on sustained high gold prices, the question is not whether CNMC will do well—but whether it is the best way to gain exposure to the sector.
⚡️China Tech & Consumer Pulse: Policy Shifts, AI Bets, and Dividend Hints Spark Broad Rally
HK:09988.HK:Alibaba Group
Ele.me (Alibaba’s local services arm) will gradually scrap overtime deductions and tighten anti-fatigue rules after a Shanghai labor-rules consultation, aiming to enhance rider protections.
HK:00288.HK:WH Group
WH Group said its board is considering a special dividend after completing a secondary public offering of shares in subsidiary Smithfield Foods via SFDS UK Holdings.
US:JPM:JPMorgan Chase
JPMorgan’s emerging-markets call highlighted China high-conviction picks and policy tailwinds (“anti-involution”), naming HK:00881.HK:Zhongsheng Holdings, HK:00857.HK:PetroChina, and HK:02057.HK:ZTO Express among top ideas.
HK:09618.HK:JD.com
CLSA said the latest food-delivery price war was initiated by JD.com; CLSA expects the battle to be unsustainable, with AI and cloud revenues underpinning Chinese tech valuations.
HK:09988.HK:Alibaba Group
CLSA added that Alibaba has invested about RMB20bn in the delivery battle so far, alongside sectorwide AI capex plans.
HK:03690.HK:Meituan
Midday and close snapshots showed Meituan among key gainers as Hang Seng benchmarks advanced, with cloud-related names active.
HK:09626.HK:Bilibili
Bilibili jumped over 7%, helping lift the Hang Seng Index as brokers flagged pipeline momentum, including a Goldman-cited 2026 Spring Festival mobile card game launch window.
US:GS:Goldman Sachs Group
Goldman Sachs kept a US$266 target on US:AAPL:Apple, noting pricing surprises in the new-product lineup.
US:JEF:Jefferies Financial Group
Jefferies set US$205.82 target on Apple, saying iPhone 17 feature changes were broadly in line with expectations.
HK:00992.HK:Lenovo Group
Lenovo climbed more than 4% during a stronger session for Hong Kong tech leaders.
HK:00700.HK:Tencent Holdings
Tencent notched new highs intraday as large-cap platform names helped drive turnover higher.
HK:02388.HK:BOC Hong Kong
BOC Hong Kong hit a new high alongside strength in Hong Kong financials.
HK:00005.HK:HSBC Holdings
HSBC also printed a new high during a broad-based advance in blue chips.
HK:09633.HK:Nongfu Spring
Nongfu Spring recorded a new high amid robust sentiment in consumer staples.
HK:00991.HK:China Resources Power
China Resources Power said August total net generation rose about 9% YoY.
HK:09888.HK:BYD Company
BYD is reportedly preparing to re-enter India, with executives slated to visit in coming months.
US:AAPL:Apple
Broker updates (Goldman, Jefferies) followed Apple’s new-product pricing and feature disclosures.
US:ARM:Arm Holdings
Arm unveiled Lumex, a new chip design optimized for on-device AI in mobile.
US:TSM:Taiwan Semiconductor Manufacturing
TSMC reported August revenue up 33.8% YoY and 37.1% YoY for the first eight months of 2025.
HK:09992.HK:Pop Mart
JPMorgan noted search interest for Pop Mart’s “Labubu” eased from July’s peak, while Mini Labubu/Twinkle Twinkle trended higher.
HK:00023.HK:Bank of East Asia
BEA’s strategist said easing home-purchase and mortgage rules in tier-1 cities could lift new-home sales in coming months.
HK:9633.HK:Nongfu Spring
Broker screens showed Nongfu Spring among stocks reaching fresh highs during the session.
HK:03968.HK:China Merchants Bank
Sector notes referenced policy support for Chinese banks even as NIM pressure may persist, per rating-agency commentary.
HK:09988.HK:Alibaba Group
Alibaba reduced its stake in SGX:S08.SI:Singapore Post, ceasing to be a major shareholder.
SGX:S08.SI:Singapore Post
SingPost disclosed Alibaba’s stake cut, moving Alibaba below the major-shareholder threshold.
HK:00981.HK:Semiconductor Manufacturing International Corp
Policy/industry roundups cited ongoing AI and cloud-server investment needs benefiting upstream chip ecosystems (sector context).
HK:09913.HK:JD Logistics
E-commerce logistics tailwinds were flagged in broker wrap-ups amid delivery-war headlines (sector mention alongside JD ecosystem).
HK:00020.HK:SenseTime Group
AI-related names were brisk within Hong Kong tech baskets during the rally (sector context).
US:UBS:UBS Group
UBS raised HK:00489.HK:Dongfeng Group target to HK$10.5, citing Voyah brand valuation support.
HK:00489.HK:Dongfeng Group
UBS’s higher target reflected improving EV brand dynamics under Voyah.
HK:03690.HK:Meituan
The Hang Seng Tech-led midday surge featured Meituan and JD as leaders, with cloud-adjacent stocks active.
HK:09988.HK:Alibaba Group
Cainiao said overseas local-courier external orders jumped 200%+ since April, supported by product mix and network expansion.
US:UCO:ProShares Ultra Bloomberg Crude Oil
Oil settled higher (Brent US$67.49, WTI US$63.67) on geopolitical risk, though US inventory builds limited gains.
HongKong:3115.HK:Hangseng Index
The Hang Seng Index closed 262 points (+1%) higher, aided by strength in Bilibili and large-cap tech/financial names; turnover rose on the day.
HK:01810.HK:Xiaomi
Xiaomi joined MIIT’s 15th Five-Year Plan symposium, alongside major domestic hardware peers.
HK:03690.HK:Meituan
CLSA expects the delivery price war to be unsustainable; AI/cloud monetization seen anchoring valuations for leading platforms.
📰 Hong Kong Developers, China Tech, Lithium Miners and BYD in Focus as Broker Calls and Policy Shifts Drive Market Moves
HK:0012.HK:Henderson Land
HSBC Global Research highlighted improving Hong Kong property fundamentals, naming Henderson Land and HK:0016.HK:Sun Hung Kai Properties as key beneficiaries of recovery.
HK:0016.HK:Sun Hung Kai Properties
UBS also expects Sun Hung Kai Properties, Henderson Land and HK:0083.HK:Sino Land to benefit from potential policy support in Hong Kong’s property market.
HK:0083.HK:Sino Land
UBS research pointed to Sino Land’s exposure to tailwinds from government measures boosting property transactions.
HK:1928.HK:Sands China
UBS said Sands China maintained the largest Macau market share in August, up about 150bps month-on-month.
HK:0175.HK:Geely Auto
Daiwa lifted its target price on Geely Auto to HK$24.5 while keeping a Buy rating, citing confidence in its growth outlook.
HK:09880.HK:UBTech Robotics
HSBC initiated coverage of UBTech Robotics with a Hold rating and HK$124 target price. CMSI also recommended UBTech alongside HK:9868.HK:Xpeng and HK:2247.HK:Horizon Robotics, pointing to robotics and smart driving tailwinds.
HK:9868.HK:Xpeng
CMSI’s research cited Xpeng as a beneficiary of multiple catalysts in robotics and autonomous driving.
HK:2247.HK:Horizon Robotics
Horizon Robotics was also named by CMSI as a top pick in China’s smart driving and robotics ecosystem.
HK:1919.HK:COSCO Shipping Holdings
Morgan Stanley cut its target price on COSCO Shipping to HK$9.5 with an Underweight rating.
HK:09618.HK:JD.com
JD.com offered up to RMB2,100 trade-in subsidy for Apple’s iPhone 17, boosting retail competition.
US:AAPL:Apple
Citi said Apple’s iPhone 17 pricing was in line, while expecting an iPhone Air launch to pave the way for a foldable in 2026. Jefferies and Goldman Sachs recently issued separate target-price updates.
HK:300750.SZ:CATL
CLSA noted uncertainty over the renewal of CATL’s Yichun lithium mine license, warning of pressure on lithium prices. CATL later confirmed uncertainty around resuming output at its Jianxiawo lithium mine.
HK:1772.HK:Ganfeng Lithium
Shares of Ganfeng Lithium plunged over 6% as news of CATL’s resumption plan dragged lithium carbonate futures lower.
HK:9696.HK:Tianqi Lithium
Tianqi Lithium also slumped more than 6% in tandem with sector weakness linked to CATL’s mine update.
HK:09888.HK:Baidu-W (Alibaba Group Amap)
Alibaba’s mapping unit Amap launched a RMB1 billion+ “Support Plan” for popular stores, alongside unveiling its new street food ranking feature. Alibaba shares gained more than 4% intraday.
HK:06606.HK:Laopu Gold
Nomura reiterated a Buy rating on Laopu Gold, saying sales are poised to benefit from the ongoing gold rally.
HK:2102.HK:Laekna-B
Biotech firm Laekna-B tumbled over 16% after placing shares at a 9.5% discount, raising HK$578m net.
HK:600547.HK:Chifeng Gold
Chifeng Gold said it aims to catch up on production in H2, adding that it sees gold prices yet to peak.
HK:1211.HK:BYD
BYD launched its new FangChengBao Titanium 7 SUV, priced from RMB179,800, as it pushes deeper into the competitive EV segment.
HK:3380.HK:Logan Group
Logan Group said it amended its creditor support agreement as part of ongoing restructuring efforts.
HK:0005.HK:HSBC Holdings
HSBC Holdings repurchased more than 3.71 million shares worth about US$379m on Tuesday, continuing its buyback programme.
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