Wall Street Wobbles: AI Frenzy, Fed Warnings, and Corporate Surprises
SGX:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:DGT:Dow Jones Industrial Average
US:RUT:Russell 2000
U.S. indexes retreated Tuesday. The S&P 500 dropped 0.55% to 6,656.92, the Nasdaq Composite slid 0.95% to 22,573.47, and the Dow Jones Industrial Average fell 0.19% to 46,292.78. The Russell 2000 briefly hit a record before closing down 0.2%.
US:NVDA:Nvidia
US:ORCL:Oracle
US:AMZN:Amazon
Nvidia sank 2.8% after announcing a $100 billion OpenAI investment, sparking concerns of overreach. Oracle fell 4.4% despite its recent AI-driven surge, and Amazon also weighed on the Nasdaq.
US:MS:Morgan Stanley
Morgan Stanley said it will offer crypto trading via E-Trade by 2026, partnering with Zerohash for custody and settlement.
US:IONQ:IonQ
US:RGTI:Rigetti Computing
US:QBTS:D-Wave Quantum
US:QUBT:Quantum Computing
IonQ jumped 3% after unveiling a quantum internet milestone with Air Force Research Lab support. The news lifted peers: Rigetti Computing +10%, D-Wave Quantum +6%, and Quantum Computing +4%.
US:BA:Boeing
Boeing rose more than 1% after striking an $8 billion deal with Uzbekistan Airways for 22 Dreamliners. Reports also point to a near-finalized deal with China.
US:JNJ:Johnson & Johnson
Johnson & Johnson gained after Guggenheim upgraded the stock to Buy, raising its target to $160, citing strong prospects in cancer treatments and innovative medicine.
US:AZO:AutoZone
AutoZone tumbled over 3% after missing earnings expectations, reporting $48.71 per share versus $50.73 forecast, with revenue slightly below estimates.
US:GC:Gold
US:GDX:Gold Miners ETF
US:BTG:B2Gold
US:PAAS:Pan American Silver
US:FSM:Fortuna Mining
US:CDE:Coeur Mining
US:KGC:Kinross Gold
Gold hit a record intraday high of 3,824.6, marking its 37th all-time high of 2025. Miners rose, with B2Gold, Pan American Silver, Fortuna Mining, Coeur Mining, and Kinross Gold all advancing.
US:SI:Silver
Silver surged to levels last seen in 2011, climbing more than 50% year-to-date on inflation expectations.
US:MU:Micron Technology
Micron spiked in extended trading after reporting revenue up 46% year-over-year, on track for its best month since 2009.
US:LAC:Lithium Americas
US:ALB:Albemarle
Lithium Americas surged nearly 90% in extended trading on reports the U.S. government may seek a 10% equity stake. Rival Albemarle also moved higher.
US:NXST:Nexstar
US:SBGI:Sinclair
US:DIS:Disney
Nexstar blocked ABC affiliates from airing Jimmy Kimmel’s return, following Sinclair. Nexstar finished flat, while Sinclair rose 3%. Disney slipped after raising streaming prices.
US:PARA:Paramount Skydance
US:WBD:Warner Bros. Discovery
US:FOX:Fox Corp
US:NWSA:News Corp
Paramount Skydance climbed 6%, up 34% this month, while preparing a bid for Warner Bros. Discovery. Both Fox Corp and News Corp hit all-time highs.
US:KBH:KB Home
KB Home reports earnings Wednesday. The stock is down 30% from its September 2024 high, despite its best monthly performance in July 2024.
US:OPEN:Opendoor
Opendoor has lost a quarter of its value this week after Access Industries disclosed selling 11.36 million shares. Still, the stock is up 340% year-to-date.
US:PLUG:Plug Power
Plug Power ended a nine-day winning streak but remains up 79% in that span and 19% year-to-date.
AI Rally Hits a Speed Bump as Powell Flags “Highly Valued” Stocks; Micron Shines After-Hours
SGX:S27.SI:S&P 500
The S&P 500 snapped a three-day win streak, pulling back from record levels after Jerome Powell said equity prices are “fairly highly valued,” even as he noted no elevated financial-stability risks.
US:DGT:Dow Jones Industrial Average
Dow futures were little changed Tuesday night after the cash index slipped earlier, as investors reassessed risk following Powell’s remarks on valuations and policy uncertainty.
US:QQQ:Nasdaq Composite
Nasdaq 100 futures edged higher about 0.1% in the evening session after the tech-led gauge fell during the day on renewed doubts around the AI trade.
US:MU:Micron Technology
Micron gained more than 2% after-hours on an earnings beat and strong outlook; revenue rose 46% year over year, with guidance topping consensus as AI demand fuels memory sales.
US:NVDA:Nvidia
Nvidia fell 2.8% amid concerns about the circular risks tied to its partnership with OpenAI and questions over the energy needed to power expansive data center plans.
US:ORCL:Oracle
Oracle declined as part of the broader AI pullback that followed scrutiny of the Nvidia–OpenAI alignment and profit-taking at elevated market valuations.
US:WFC:Wells Fargo
Wells Fargo’s chief equity strategist Ohsung Kwon stayed bullish on the AI-led market, saying strong capex and fundamentals suggest the cycle remains in its early innings.
Stocks @ Night: Powell’s Warning, AI Pullback, Lithium Surge, and Micron’s Big Beat
US:DGT:Dow Jones Industrial Average
SGX:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:RUT:Russell 2000
The Dow Jones Industrial Average, S&P 500, Nasdaq, and Russell 2000 all pulled back from record levels after Fed Chair Jerome Powell said stock prices are “fairly highly valued” and flagged uncertainty over the rate-cutting path. While the cap-weighted S&P 500 fell, its equal-weighted counterpart managed a small gain.
US:NVDA:Nvidia
US:ORCL:Oracle
Profit-taking hit AI leaders. Nvidia and Oracle dropped as investors questioned overcapacity in the sector following the Nvidia–OpenAI deal.
US:GC:Gold
Gold prices hit another all-time high after Powell raised concerns about the U.S. economy, continuing a record-setting streak for the metal.
US:LAC:Lithium Americas
US:ALB:Albemarle
The Trump administration is reportedly considering a 10% equity stake in Lithium Americas, sending shares up nearly 90% in extended trading. Rival Albemarle also climbed, though its stock remains down 7% year-to-date.
US:MU:Micron Technology
Micron spiked after-hours on earnings that beat estimates, with revenue surging 46% year-over-year. The stock is on track for its best monthly performance since 2009, nearly doubling in 2025 so far.
US:NXST:Nexstar
US:SBGI:Sinclair
US:DIS:Disney
Nexstar followed Sinclair in blocking ABC affiliates from airing Jimmy Kimmel Live! despite finishing flat on the day. Sinclair gained 3%, while Disney dipped slightly after hiking streaming prices.
US:PARA:Paramount Skydance
US:WBD:Warner Bros. Discovery
US:FOX:Fox Corp
US:NWSA:News Corp
Paramount Skydance rose 6%, extending a 34% rally this month, as it eyes a bid for Warner Bros. Discovery. Both Fox Corp and News Corp hit record highs.
US:KBH:KB Home
KB Home reports earnings Wednesday. Shares are 30% below their September 2024 high despite a strong July performance that marked its best month in a year.
US:OPEN:Opendoor
Opendoor slid sharply, losing a quarter of its value this week after Access Industries disclosed selling over 11.36 million shares. Still, the stock remains up 340% in 2025.
US:PLUG:Plug Power
Plug Power ended its nine-day winning streak but is still up 79% over that stretch and 19% year-to-date, even without major fundamental news driving the rally.
Malaysia Market Wrap: Profit Drops, Mega Deals, and Bold Growth Bets
KL:APOLLO: Apollo Food Holdings Bhd
Apollo Food Holdings posted a 34.3% fall in Q1 net profit to RM6.36 million from RM9.68 million, hit by weaker export sales and higher costs. Revenue declined 10% to RM65.07 million. No dividend was declared.
KL:IGBREIT: IGB REIT
IGB REIT proposed a RM5 billion medium-term note programme via IGB REIT MVS Capital Bhd, with proceeds earmarked for investments, refinancing, working capital and general purposes.
KL:SCGBHD: Southern Cable Group Bhd
Southern Cable’s director Fawiza Faiz ceased to be a substantial shareholder after Semangat Handal Sdn Bhd sold 16.5 million shares, cutting its stake from 5.83% to 4.19%.
KL:JSSOLAR: JS Solar Holding Bhd
JS Solar, newly listed on the ACE Market, is targeting over 300MW solar projects in Sabah through Energy Commission of Sabah (ECOS) programmes, including Selco-PV and LSS-Sabah 2024.
KL:OMH: OM Holdings Ltd
OM Holdings completed the sale of a 60% stake in OM Materials (Qinzhou) Co Ltd for RM70.8 million to Shaanxi Sinian Metal & Mining. It has received RM63.7 million, with the balance due by November.
KL:KUCHAI: Kuchai Development Bhd
Kuchai Development declared a special dividend of 44.8 sen per share and will voluntarily delist from Bursa Malaysia after selling all assets and liabilities to Sungei Bagan Rubber Company (Malaya) Bhd (KL:SBAGAN) for RM267.78 million.
KL:TXCD: TXCD Bhd
TXCD, formerly Ageson Bhd, secured a RM75.86 million contract in Sepang from Golden Chain Development Sdn Bhd for piling and building works, replacing an earlier scrapped deal with Mateen Group.
KL:CHGP: Chin Hin Group Property Bhd
Chin Hin Group Property is selling two Johor industrial plots in Kampung Kangkar Tebrau for RM19.3 million cash to Miroad Rubber Industries Sdn Bhd, with proceeds to repay borrowings and cover expenses.
KL:EDELTEQ: Edelteq Holdings Bhd
Edelteq announced a private placement of up to 53.25 million new shares, aiming to raise RM19.73 million for working capital and debt repayment.
DFI Retail Group’s Shares Surge 39% YTD on Divestments, Dividends and 7-Eleven Push
DFI Retail Group (US:DFI) has rallied nearly 39% year-to-date to US$3.20, lifted by its latest 1HFY2025 results showing revenue and earnings growth, alongside a hefty special dividend of 44.3 US cents and an interim payout of 3.5 US cents.
CEO Scott Price credited the payout to “strategic progress”, highlighting a sharper focus on higher-margin businesses and capital gains from divestments. The group sold its stakes in Yonghui and Robinsons Retail (PHIL:RRETAIL), securing close to US$900 million and strengthening its balance sheet to a net cash position of US$442 million. The pending US$93 million sale of Singapore’s Cold Storage and Giant supermarkets to Malaysia’s Macrovalue is due by year-end.
DBS Group Research (SGX:D05.SI) analysts Chee Zheng Feng and Andy Sim said DFI’s streamlined portfolio—anchored in food, health & beauty, and convenience—appears “more resilient” and less exposed to macro swings, while cyclical businesses like restaurants and home furnishing could outperform as conditions improve. They kept their “buy” rating with a US$3.90 target, citing potential valuation re-rating from earnings growth and margin expansion.
In Singapore, DFI has been sharpening its 7-Eleven convenience store business. Apart from expanding outlets, it has refreshed layouts to push ready-to-eat (RTE) offerings. DBS analysts said RTE is a “central growth pillar” despite initial investor scepticism. Their on-ground checks showed strong demand: Slurpees near schools, onigiri-and-coffee combos at office clusters, and hot pizza and smoothies broadening appeal. Self-checkout counters were also spotted, easing labour needs and boosting profitability.
The analysts noted RTE pricing was competitive with meal bundle discounts, though portions were small. Key demographics include students, office workers, and tourists.
Still, competition looms. JD.com’s (HK:9618.HK) entry into food delivery earlier this year triggered a subsidy-fuelled “delivery war”, squeezing convenience-store traffic. Yet, DBS analysts believe DFI’s margin headroom and store expansion—particularly in South China where RTE already accounts for 40% of sales—offer a 70 bps margin advantage over peers. Supply synergies from associate Maxim’s also provide support.
With over 2,000 new store opportunities identified outside Tier-1 Guangdong cities, analysts argue DFI is well positioned for multi-year growth. They expect the current delivery wars to prove unsustainable, leaving DFI stronger as it capitalises on value chain integration and rising demand beyond top-tier markets.
Markets Buzz: Mega Deals, IPO Moves, and AI Frenzy Dominate Headlines
SGX:F03.SI:Food Empire Holdings
Food Empire plans to raise $41.7 million through a placement of treasury shares at $2.52 each.
SGX:J69U.SI:Frasers Centrepoint Trust
Frasers Centrepoint Trust completed the divestment of 10 strata lots at Yishun 10 for $34.5 million.
SGX:S51.SI:Seatrium
Seatrium sold its AmFELS Yard in Texas to Karpowership for $65 million.
SGX:5WF.SI:ISOTeam
ISOTeam secured $10 million funding from Asdew Acquisitions, Lion Global Investors and others, with $3 million tied to social initiatives.
SGX:BN4.SI:Keppel Corp
Keppel entities divested an 80% stake in 800 Super at a valuation of $600 million.
KL:MMCPORT:MMC Port Holdings Bhd
MMC Port Holdings, Malaysia’s largest container port operator, gained regulatory approval for a Main Market IPO. The offering could raise about US$2 billion (RM8.5 billion), with proceeds going to parent MMC Corp.
SGX:JYEU.SI:Lendlease Global Commercial REIT
Lendlease REIT maintained its “buy” call from DBS Group (SGX:D05.SI), as it eyes the acquisition of a 70% stake in PLQ Mall from ADIA. The mall is valued at over $1 billion, while a recent JEM office divestment to Keppel for $462 million boosted financial flexibility.
US:NVDA:Nvidia
Nvidia unveiled a US$100 billion investment in OpenAI, funding data centre expansion. Analysts flagged “circular financing” risks, though the chipmaker remains the biggest AI winner to date.
US:MSFT:Microsoft
US:AMZN:Amazon
Microsoft and Amazon also maintain strategic stakes in AI startups, leveraging investments to boost their cloud services.
US:BABA:Alibaba Group Holding
Alibaba hit its highest level since November 2021 after Cathie Wood’s Ark Invest bought back into the stock, with two ETFs investing US$16.3 million in ADRs.
US:PDD:PDD Holdings
Alibaba’s rally comes as competition heats up with PDD Holdings, pressuring its e-commerce business.
US:BIDU:Baidu Inc
Ark Invest also expanded its stake in Baidu to about US$47 million, reaffirming its bet on Chinese AI growth.
HK:1211.HK:BYD Co Ltd
Ark ETFs hold smaller positions in EV maker BYD as part of its disruptive tech portfolio.
US:ARKK:ARK Innovation Fund
Ark Innovation Fund, Wood’s flagship ETF, is up 49% in 2025, beating the S&P 500 (SGX:S27.SI) and Nasdaq 100 (US:QQQ), but remains down over a five-year horizon with US$438 million outflows this year.
Storm Shutters Macao Casinos, Tencent Buyback, and Market Jitters in Hong Kong
HK:1928.HK:Sands China / HK:0880.HK:SJM Holdings / HK:1128.HK:Wynn Macau (Casino Sector)
Casinos across Macao closed at 5 p.m. local time after the Meteorological and Geophysical Bureau issued a No. 8NW signal. Entrances were sealed with flood barriers and sandbags, leaving limited access points.
HK:0700.HK:Tencent Holdings
Tencent repurchased 867,000 shares for around $550 million, with buyback prices between HK$627 and HK$643. To date, Tencent has repurchased 61.6 million shares, representing 0.67% of its issued shares.
HK:0880.HK:SJM Holdings
SJM Holdings is preparing to issue RMB1 billion in offshore “dim sum” bonds, its first public bond in four years. Proceeds will fund a Zhuhai project and general operations.
HK:0823.HK:Link REIT
Link REIT announced that its CIO and CFO will jointly serve as interim CEO, as current CEO and executive director George Hongchoy will retire by December 31, 2025.
HK:3115.HK:Hang Seng Index
The Hang Seng Index (HSI) closed down 185 points at 26,159, while the Hang Seng Tech Index (HSTI) fell 90 points to 6,167. Losses came as Baidu (HK:9888.HK), NIO (HK:9866.HK), and Lens Technology (HK:300433.HK) dropped.
Meanwhile, HSBC Holdings (HK:0005.HK), China Foods (HK:0506.HK), Mobvista (HK:1860.HK), Johnson Electric (HK:0179.HK), and West China Cement (HK:2233.HK) hit fresh highs.
HK:2202.HK:China Vanke
China Vanke suspended interest payments on select private debt as it seeks to cut borrowing costs, reflecting ongoing liquidity pressures in the property sector.
HK:0005.HK:HSBC Holdings
HSBC Holdings was added to Citi’s 90-day Upside Watchlist, with its target price raised to HK$118.20, reflecting optimism for earnings momentum.
US:BABA:Alibaba Group Holding
Alibaba’s AliExpress expanded its overseas custodial service to 30 countries, strengthening its global e-commerce reach.
HK:9618.HK:JD.com
JD.com reported that order volume in Xinjiang more than doubled YoY, signaling strong regional growth momentum.
HK:3115.HK:Hang Seng Index
The Hang Seng Index closed midday at 26,090, down 254 points, while the Hang Seng Tech Index dropped 137 points to 6,120. Declines were led by Baidu (HK:9888.HK), NIO (HK:9866.HK), and pharmaceutical stocks, even as HSBC Holdings (HK:0005.HK), Mobvista (HK:1860.HK), West China Cement (HK:2233.HK), and Cowell (HK:1415.HK) hit fresh highs.
HK:0293.HK:Cathay Pacific Airways / HK:0127.HK:HK Express
Cathay Pacific Airways saw passenger volume jump 30% YoY in August, while its budget arm HK Express surged 36% YoY, showing continued recovery in air travel demand.
HK:2899.HK:Zijin Mining Group
Jefferies noted that Zijin Mining’s planned spin-off of Zijin Gold International could help unlock shareholder value, supporting long-term growth.
HK:9866.HK:NIO
NIO tumbled over 7% after Nomura said the EV maker needs more time to improve financially and may only break even by 2027.
US:BABA:Alibaba Group Holding
Alibaba’s AliExpress launched its “Super Brand Global Expansion Plan”, expanding its international e-commerce footprint.
HK:0981.HK:SMIC
Goldman Sachs raised its target price on SMIC to HK$83.50, citing stronger demand for AI-related semiconductors.
HK:1138.HK:COSCO Shipping Energy
JPMorgan initiated coverage on COSCO Shipping Energy with an “Overweight” rating and a HK$12 target price, highlighting shipping demand.
HK:2020.HK:ANTA Sports
Goldman Sachs said ANTA Sports’ diversified brand portfolio should help it withstand any fallout from the Arc’teryx incident.
US:BABA:Alibaba Group Holding / HK:3690.HK:Meituan / HK:9888.HK:Baidu
Nomura reported mixed app usage trends in August: Taobao usage rose 17%, Meituan up 10%, while Baidu slipped 6% year-on-year.
HK:9867.HK:Hesai Technology
Goldman Sachs initiated coverage on Hesai Technology with a “Buy” rating and a HK$281 target price, citing LiDAR demand.
HK:1024.HK:Kuaishou Technology
BofA Securities reiterated a “Buy” rating on Kuaishou, saying the SAMR investigation has only a manageable impact on the video platform.
HK:1037.HK:Maxnerva Technology
Maxnerva Technology surged nearly 130% intraday after resumption of trading, boosted by news its subsidiary will partner with UBTech Robotics to advance humanoid robots.
HK:2343.HK:Pacific Basin
JPMorgan initiated coverage on Pacific Basin with an “Overweight” rating and a target price of HK$3.20, citing positive shipping outlook.
HK:6892.HK:Damai Entertainment
Citi reiterated a “Buy” rating on Damai Entertainment, highlighting untapped growth potential in its IP business.
HK:1788.HK:Guotai Junan International
Guotai Junan International slumped about 5% after reports that the CSRC asked brokers to pause their RWA tokenization businesses in Hong Kong.
HK:1271.HK:Grand Ming Group
Grand Ming Group is in talks to sell its four data centers for up to HK$5.25 billion, marking a potential large-scale asset disposal.
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