📈 Wall Street Climbs as Shutdown Looms — Tech, Oil, and Lithium in Spotlight
US:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:DGT:Dow Jones Industrial Average
Stocks ended higher Tuesday despite fears of a looming U.S. government shutdown. The S&P 500 rose 0.41% to 6,688.46, the Nasdaq gained 0.31% to 22,660.01, and the Dow hit a fresh record close at 46,397.89. Analysts noted markets largely expected the shutdown, but prolonged disruption could worry investors and stall key data like the Labor Department’s jobs report.
US:PAYX:Paychex
US:CRM:Salesforce
US:NVDA:Nvidia
Private:CoreWeave
US:META:Meta Platforms
Software stocks dipped with Paychex falling over 1% and Salesforce sliding 3.3%. Nvidia bucked the trend, rallying after CoreWeave, backed by Nvidia, unveiled a $14.2B AI cloud deal with Meta Platforms.
US:PATH:UiPath
US:SNOW:Snowflake
US:NVDA:Nvidia
Private:OpenAI
US:GOOGL:Alphabet
UiPath surged more than 8% after announcing partnerships with OpenAI, Snowflake, Nvidia, and Alphabet’s Google to integrate AI-driven automation. The stock hit its highest level since February 2025.
US:ETSY:Etsy
Private:OpenAI
Etsy fell more than 11% after rallying 16% the previous day on OpenAI’s Instant Checkout partnership. Despite the drop, analysts said the deal positions Etsy at the forefront of AI-driven “agentic commerce.”
US:NKE:Nike
Nike jumped over 4% after beating Wall Street expectations with surprise sales growth in Q1. Revenue rose 1% to $11.72B, though profits dropped 31% as inventory clearance weighed on margins.
US:PFE:Pfizer
US:NVDA:Nvidia
US:AVGO:Broadcom
US:TSM:Taiwan Semiconductor
US:ASML:ASML Holding
US:AMD:Advanced Micro Devices
Pfizer led S&P 500 gains, logging its best day since 2021 after reaching an agreement with President Donald Trump to cut drug prices. Meanwhile, Nvidia became the first company to surpass a $4.5T valuation — bigger than Broadcom, TSMC, ASML, and AMD combined.
US:LAC:Lithium Americas
US:GM:General Motors
Lithium Americas soared 34% after the U.S. government confirmed a 5% stake in both the company and its Thacker Pass lithium mine, co-owned with General Motors. The mine is expected to be a key North American lithium source.
US:XOM:Exxon Mobil
US:CVX:Chevron
US:COP:ConocoPhillips
US:MRO:Marathon Oil
US:HES:Hess
US:PXD:Pioneer Natural Resources
Oil:US:UCO
U.S. oil majors Exxon, Chevron, and Conoco announced job cuts as crude prices fell 13% this year to below $63 per barrel. The industry has shed 4,000 jobs in 2025. Major acquisitions include Exxon’s $60B Pioneer deal, Chevron’s $53B Hess takeover, and Conoco’s $17B Marathon buyout. Executives warned Trump’s push for cheaper oil and tariffs are squeezing U.S. shale producers.
🏢🏗️ Asia Property & Industrials Pulse: New Tenants, IPO Moves, Stakes Raised & Fresh Financing
SGX:JYEU.SI:Lendlease Global Commercial REIT
Lendlease Global Commercial REIT signed a new US technology tenant for its Milan asset, lifting occupancy to 49%.
SGX:BAI.SI:Digilife Technologies Limited
Digilife Technologies acquired a 51% stake in a sustainable building materials manufacturer for US$4.9 million.
SGX:41O.SI:LHN Limited
Coliwoo Holdings, the co-living arm of LHN, lodged its preliminary prospectus with the Monetary Authority of Singapore for a proposed SGX Mainboard listing; the business runs 25 Singapore properties and targets 4,000 rooms by end-2026 with >95% average occupancy in 1HFY2025.
KL:1155.KL:Malayan Banking Berhad
Maybank Asset Management and Maybank Securities were named among cornerstone investors in Coliwoo Holdings’ proposed IPO.
SGX:U11.SI:United Overseas Bank Limited
UOB Asset Management was listed as a cornerstone investor in Coliwoo Holdings’ proposed IPO.
HK:0806.HK:Value Partners Group
Value Partners Hong Kong was included as a cornerstone investor in Coliwoo Holdings’ proposed IPO.
SGX:O10.SI:Far East Orchard Limited
Far East Orchard increased its stake in UK student-housing operator Homes For Students to 84%.
SGX:AWI.SI:Thakral Corporation Ltd
Thakral completed the divestment of an Osaka commercial building, booking a one-off profit of about S$2 million.
SGX:OU8.SI:Centurion Corporation Limited
Executive chairman Han Seng Juan raised his stake by purchasing 200,000 shares.
SGX:M04.SI:Mandarin Oriental International Limited
Mandarin Oriental is in talks to sell units at One Causeway Bay to Alibaba for around HK$7 billion.
HK:9988.HK:Alibaba Group Holding Limited
Alibaba is the prospective buyer of units at One Causeway Bay from Mandarin Oriental for about HK$7 billion.
SGX:RE4.SI:Geo Energy Resources Limited
Geo Energy secured US$275 million in term-loan facilities to refinance existing debt at a lower rate and fund expansion.
SGX:585.SI:Asian Micro Holdings Limited
A subsidiary of Asian Micro Holdings sold three commercial units in Penang for RM1.55 million.
🏢 Malaysia & Singapore Property and Corporate Roundup: Launches, Losses, Contracts and Takeovers
SGX:F17.SI:GuocoLand Limited
GuocoLand will launch Faber Residence with prices starting from S$1,995 per square foot.
KL:6963.KL:VS Industry Bhd
VS Industry slipped into the red in 4QFY2025, reporting a RM33 million loss versus RM126.6 million profit last year as U.S. reciprocal tariffs hit sales. Full-year profit plunged 85% to RM36.7 million with revenue down nearly 11%.
KL:9571.KL:Mitrajaya Holdings Bhd
ASX:NXT:NEXTDC Limited
Mitrajaya Holdings hit a seven-year high after its contract with NEXTDC’s Malaysian unit nearly doubled from RM375.5 million to RM801.8 million for expanded data centre construction in Kuala Lumpur.
KL:5078.KL:Greenyield Bhd
An inter-family shareholder dispute intensified at Greenyield, with members seeking to oust chairman Foo Keong and three independent directors through an extraordinary general meeting.
KL:5053.KL:OSK Holdings Bhd
KL:5401.KL:Tropicana Corporation Bhd
OSK Holdings, via its property arm, is acquiring a 3.3-acre Subang Jaya land parcel from Tropicana Corporation for RM44.34 million to develop serviced apartments worth RM427 million in gross development value.
KL:03041.KL:Epicon Bhd
KL:0056.KL:NCT Alliance Bhd
Epicon is diversifying into property development with a RM72.13 million joint venture with NCT Alliance to build terraced homes in Batang Kali, with a GDV of RM347.68 million.
KL:0106.KL:Rexit Bhd
Rexit appointed Jason Yong Qun Yong as its new chief financial officer effective October 1, replacing Chan Shih Fei after 21 years in the role.
KL:0279.KL:Vestland Bhd
Vestland received a mandatory takeover offer at 34 sen per share, more than 32% below market price, after major shareholders including group MD Datuk Liew Foo Heen triggered a mandatory general offer by forming a concert party.
🌏 Asia Financial & Corporate Wrap: Bond Deals, CFO Moves, AI Tie-Ups and Regulatory Pressure
HK:1813.HK:KWG Group
KWG Group announced that restructuring proposals for three onshore corporate bonds issued by its subsidiaries, Guangzhou Hejing Holdings and Guangzhou Tianjian Real Estate Development, have all been approved.
HK:1398.HK:ICBC
ICBC confirmed that the National Financial Regulatory Administration has approved Yao Mingde’s qualification to serve as the bank’s CFO, with his appointment now effective.
HK:1357.HK:Meitu
HK:9988.HK:Alibaba Group Holding Limited
US:BABA:Alibaba Group Holding Limited
Meitu’s DesignKit has integrated with Alibaba’s Quick QianNiu backend, enabling AI-generated product images for merchants on Taobao and Tmall as part of their strategic cooperation signed earlier this year.
HK:0005.HK:HSBC Holdings
HSBC’s chairman Mark Tucker resigned, sparking unease as the group has yet to name a successor. UK regulators urged the bank to swiftly finalize a new chairman to stabilize governance.
US:BIDU:Baidu
HK:9888.HK:Baidu Inc
Guotai Haitong Securities adjusted its target price for Baidu-SW to US$176 and maintained an Overweight rating on the stock.
HK:1024.HK:Kuaishou Technology
Kuaishou surged 7%, helping the Hang Seng Tech Index climb more than 2%, while the broader Hang Seng Index closed 232 points higher.
US:F:Ford Motor Company
Ford’s CEO said China is clearly leading the global electric vehicle market, reflecting the country’s rapid advancement in EV adoption and manufacturing.
🚀 Hong Kong Market Buzz: Hot IPO, Tech Surge, Broker Calls & New Options
HK:2259.HK:Zijin Gold International
Zijin Gold International closed up 68.5% on debut after a blockbuster IPO, amid record gold prices.
HK:3115.HK:Hang Seng Index
The Hang Seng Index ended at 26,855, up 232 points, while tech counters outperformed.
HK:2359.HK:WuXi AppTec
WuXi AppTec rallied over 8% after management indicated new output increases require only about two months.
HK:1024.HK:Kuaishou Technology
Kuaishou jumped about 7%, helping power gains across Hong Kong tech shares.
HK:0981.HK:Semiconductor Manufacturing International Corp (SMIC)
SMIC hit a new high during the session as chip names extended their rally.
HK:2269.HK:WuXi Biologics (Cayman)
WuXi Biologics touched a fresh high alongside strength in healthcare and biotech counters.
HK:2899.HK:Zijin Mining Group
Zijin Mining rose to a new high as investors rotated into precious metals producers.
HK:0005.HK:HSBC Holdings
HSBC shares notched a new high amid broad-based strength in financials.
HK:1177.HK:Sino Biopharmaceutical
Guotai Junan initiated coverage with a Buy rating and a HK$10 target price.
SGX:D05.SI:DBS Group
DBS maintained Hold on New World Development with a HK$7.02 target price.
HK:0017.HK:New World Development
New World Development was kept at Hold by DBS, with target price set at HK$7.02.
HK:1876.HK:Budweiser Brewing Company APAC
DBS cut its target price to HK$9.40, citing pressure in the China business.
HK:0853.HK:MicroPort Scientific
Morgan Stanley said CRM business overhaul supports financial goals.
HK:1347.HK:Hua Hong Semiconductor
Hua Hong Semiconductor surged about 12% as chip stocks continued to rally.
HK:1772.HK:Ganfeng Lithium
Ganfeng Lithium hit a new high during midday trade as EV-materials names advanced.
HK:0358.HK:Jiangxi Copper
Jiangxi Copper reached a new high amid strength in resource plays.
HK:9880.HK:UBTECH Robotics
UBTECH Robotics marked a new high alongside momentum in robotics-related shares.
HK:0388.HK:Hong Kong Exchanges and Clearing (HKEX)
HKEX said it will introduce stock options on Pop Mart.
HK:9992.HK:Pop Mart International
HKEX plans to list options on Pop Mart shares.
HK:8516.HK:Grand Talents Group Holdings
The SFC sought a court order to freeze up to HK$394 million for potential investor compensation in a suspected share-manipulation case involving Grand Talents.
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