Markets Rattle as Tariff Threats Ignite Tech Selloff and Deal Buzz Amid Rare Earths Shock
US:DGT:Dow Jones Industrial Average
The Dow Jones Industrial Average sank 1.9% (-878.82 points) to 45,479.60 after President Donald Trump threatened “massive” new tariffs on China, accelerating selling into the close.
SGX:S27.SI:S&P 500
The S&P 500 fell 2.71% to 6,552.51—its biggest one-day drop since April 10—erasing the week’s gain as tariff fears and a government shutdown darkened sentiment.
US:QQQ:Nasdaq Composite
The Nasdaq Composite slid 3.56% to 22,204.43, reversing an earlier intraday record as chip and EV names led the retreat on heightened China risk.
US:UCO:Oil
U.S. crude oil declined as investors worried that higher tariffs could crimp demand.
US:NVDA:NVIDIA
Nvidia shares lost about 5% as traders fled Big Tech on concern over worsening U.S.–China trade relations.
US:AMD:Advanced Micro Devices
AMD dropped almost 8% amid a broad tech selloff tied to tariff escalation risk.
US:TSLA:Tesla
Tesla shed around 5% as investors rotated out of growth names with China exposure.
US:NTES:NetEase
JPMorgan (US:JPM) upgraded NetEase to Overweight and raised its target to $190, citing increased confidence in 2026 game pipelines.
US:LEVI:Levi Strauss
Levi Strauss fell ~12% post-earnings despite strong results and upbeat guidance, while Bank of America (US:BAC) reiterated a Buy with a $27 target.
US:PTGX:Protagonist Therapeutics
Protagonist Therapeutics spiked 33% on a report that Johnson & Johnson (US:JNJ) is in talks to buy the company; J&J already holds a 4% stake and the firms have collaborated on immunology candidates.
US:BMY:Bristol Myers Squibb
Bristol Myers Squibb announced plans to acquire privately held Orbital Therapeutics for $1.5 billion, extending a run of pharma dealmaking.
US:AKRO:Akero Therapeutics
Akero Therapeutics jumped after Novo Nordisk (US:NVO) agreed to buy the company for $5.2 billion.
US:XBI:SPDR S&P Biotech
Biotech lagged on the day (-1.3%) but remains up more than 9% year to date, including nearly a 5% gain so far this month.
US:MP:MP Materials
MP Materials surged more than 8% after Trump vowed countermeasures to China’s tighter rare-earth export controls.
US:UUUU:Energy Fuels
Energy Fuels gained over 3% as investors bid up U.S. rare-earth and critical-minerals plays.
US:NIOBF:NioCorp Developments
NioCorp rose more than 5% alongside a broader rally in U.S. rare-earth names.
US:BA:Boeing
Trump said the U.S. could impose export controls on airplane parts—highlighting Boeing’s large installed base and order book in China—as part of Washington’s response to Beijing’s rare-earths limits.
AI-Powered IPO Pulse: Contract Win, Dual-Listing Momentum & Gold Rush Context — What Investors Need to Know Now
SGX:S3N.SI:GRC Limited
Wholly-owned unit CES-Precast secured a S$21.6 million contract from Expand Construction to supply precast components for Admiralty Lane; deliveries are slated to start in July 2026 over ~15 months.
US:AVPT:AvePoint
Already Nasdaq-listed since 2020, AvePoint completed a dual listing and secondary offering on SGX last month at S$19.50 per share, with shares fluctuating between S$18.96 and S$19.95 before closing at S$19.17 on Oct 8.
SGX:AVP.SI:AvePoint
On SGX, AvePoint trades under “AVP,” following its Main Board debut; the listing aims to raise profile among government and regulated-industry clients in Asia.
SGX:D05.SI:DBS Group
DBS Group Research’s Sachin Mittal initiated coverage with a target price of US$28, citing AvePoint’s faster revenue CAGR versus peers and potential multiple re-rating. (Analyst view as stated in the article.)
US:MSFT:Microsoft
AvePoint is the largest third-party data-management provider for Microsoft 365 (including Teams and SharePoint), with growth supported by adoption of Copilot-driven, AI-ready data governance.
US:GOOGL:Alphabet (Google Cloud)
AvePoint plans deeper integrations with Google Cloud as part of channel-led scaling and ecosystem expansion noted by management.
US:AMZN:Amazon (AWS)
AvePoint is also extending integrations with AWS to diversify beyond Microsoft’s ecosystem while pursuing selective M&A.
US:BRK.B:Berkshire Hathaway
Referencing gold’s role as a haven, the article recalls Warren Buffett’s 2011 letter describing gold as a “sterile” asset—context for bullion’s 2025 record run.
AI Brief: Malaysia IPO & Deals — Hydrogen Push, Auto Parts Pact, Hotel Sale, and Tax Shock
KL: 0151.KL:Kelington Group Bhd
Kelington’s unit Ace Gases signed an MoU with state-linked Worldwide Energy Development and SKS Coachbuilders to build a 2MW green hydrogen hub in Selangor powered by the Batang Kali small hydropower plant; Kelington will lead the electrolyser development and manage hydrogen production.
KL: 0350.KL:MSB Global Group Bhd
MSB Global’s subsidiary secured a 10-year exclusive distributorship with China-based Zhejiang GOLD Intelligent Suspension for shock absorbers across Malaysia, Thailand, and Singapore, superseding a 2024 deal with updated terms.
KL: 7243.KL:Magma Group Bhd
Magma and KLCC Holdings Sdn Bhd agreed to sell the 519-room Impiana KLCC Hotel to Harum Aspirasi, linked to the Valiram luxury retail family, for RM315 million—above the RM300 million market value; Magma is divesting its 20% stake in Heritage Lane (hotel owner) while KLCC Holdings holds 80%.
KL: 5200.KL:UOA Development Bhd
UOA Development said its unit Distinctive Acres received an additional tax assessment and penalty of RM165.66 million related to the 2020 sale of UOA Corporate Tower to UOA Real Estate Investment Trust.
KL: 5110.KL:UOA Real Estate Investment Trust
UOA REIT was identified as the buyer of UOA Corporate Tower in the 2020 transaction cited by UOA Development in its tax assessment disclosure.
AI Market Wrap: HSI Set to Gap Lower as Tencent Buys Back, Property Sales Split, NIO Hits Swap Record, Qualcomm Probed
HK:3115.HK:Hang Seng Index
HKADR models project the HSI to open around 25,200 on Monday, implying a drop of roughly 1,090 points.
HK:01918.HK:SUNAC CHINA HOLDINGS
Sunac’s September contracted sales fell about 8.5% year on year to ~RMB1.29 billion; for 9M25, contracted sales also declined, with ~79,000 sq m sold at an average ~RMB16,330 per sq m.
HK:00700.HK:TENCENT
Tencent repurchased 839,000 shares at HK$648–HK$669 for about HK$550 million, bringing total buybacks since May 14, 2025, to 70.729 million shares (~0.77% of share capital).
HK:00813.HK:SHIMAO GROUP
Shimao’s aggregated contracted sales for 9M25 dropped 24.2% year on year to ~RMB19.22 billion, on ~1.58 million sq m at an average ~RMB12,147 per sq m.
HK:09866.HK:NIO-SW
NIO reported 1.9245 million charging and battery-swap services during the holiday; single-day swaps hit a record ~146,000 on Oct 1, with strong volumes also on Oct 7.
HK:00688.HK:CHINA OVERSEAS LAND & INVESTMENT
China Overseas’ September contracted sales rose 7.2% year on year, though 9M25 sales remained down 14.3%.
US:QCOM:Qualcomm
Qualcomm slid more than 3% pre-market after China reportedly launched an antitrust probe.
HK:02382.HK:SUNNY OPTICAL TECHNOLOGY
September vehicle-lens set shipments increased 25.2% year on year.
HK:00188.HK:SUNWAH KINGSWAY
Sunwah Kingsway sold 100,000 units of BABA-W for proceeds of ~HK$10.849 million.
HK:09988.HK:ALIBABA GROUP
Alibaba was the underlying for the BABA-W units sold by Sunwah Kingsway.
AI Market Flash: HSI Slides as Blue-Chips Retreat; Pop Mart Hype, BYD Milestone, Research Calls Flood In
HK:3115.HK:Hang Seng Index
HSI closed down 462 points as tech, pharma and resource stocks eased, with market turnover rising.
HK:09988.HK:Alibaba Group
Alibaba fell over 4% as broader tech weakness dragged; its travel arm Fliggy reported a 48% GMV jump over the National Day holiday.
HK:00700.HK:Tencent
Tencent declined over 3% on the day even as Jefferies lifted its target price to HKD794 on execution strength.
HK:01088.HK:China Shenhua Energy
China Shenhua hit a new high amid defensives holding up better than growth shares.
HK:00119.HK:Poly Property
Poly Property printed a new high despite sector-wide caution.
HK:00297.HK:SinoFert
Sinofert set a new high as resources outperformed pockets of the market.
HK:00763.HK:ZTE
ZTE rose about 7% against the down market, also touching a new high during the session.
HK:02343.HK:Pacific Basin Shipping
Pacific Basin marked a new high as shipping names stayed firm.
HK:09992.HK:Pop Mart
Pop Mart launched Halloween blind boxes; a “Super Secret Moonlit Mask” resold for around RMB2,289, implying a ~13.4x premium.
HK:01211.HK:BYD
BYD produced its 14 millionth NEV at its Brazil plant, underscoring overseas capacity ramp-up.
HK:00998.HK:China CITIC Bank
CITIC Bank adjusted risk ratings for certain asset management products, with local media urging investor caution.
HK:02618.HK:JD Logistics
Daiwa said JD Logistics’ planned acquisition of JD.com’s on-demand delivery unit should have only a minor earnings impact.
HK:09618.HK:JD.com
JD.com’s transfer of its on-demand delivery business to JD Logistics drew broker views pointing to limited earnings effect for the buyer.
HK:00728.HK:China Telecom Global (Fliggy context)
Fliggy’s National Day travel GMV surged 48%; the travel platform sits within Alibaba’s ecosystem.
HK:00700.HK:Tencent
Jefferies raised Tencent’s target price to HKD794, citing solid execution.
US:C:Citigroup
Citi noted China tightened rare earth product exports and rated JL MAG Rare-Earth a Buy.
HK:06680.HK:JL MAG Rare-Earth
JL MAG was highlighted with a Buy rating in Citi research amid tighter China rare-earth export rules.
HK:00011.HK:Hang Seng Bank
Hang Seng Bank declared a third interim dividend per share of HKD1.30 with ex-date on Oct 23; separate reports said long-running privatization talks included multiple price rounds.
HK:00005.HK:HSBC Holdings
Broker roundups discussed HSBC’s potential privatization of Hang Seng Bank; UBS removed both HSBC and Hang Seng Bank from its least preferred list.
US:UBS:UBS Group
UBS took HSBC and Hang Seng Bank off its least preferred list in updated views.
HK:01113.HK:CK Asset Holdings
CK Asset hit a new high intraday; UBS also removed the stock from its least preferred list.
US:MS:Morgan Stanley
Morgan Stanley said Golden Week demand hadn’t fully recovered, while naming consumer picks including Pop Mart.
HK:01880.HK:China Tourism Group Duty Free
HSBC Research lifted CTG Duty Free’s target price to HKD51.4 while noting no clear demand recovery signs yet.
US:ORCL:Oracle
Citi raised Oracle’s target price to USD415 with a Buy rating in its latest tech coverage.
HK:00863.HK:OSL Group
Citi initiated OSL Group with a Buy and a HKD21.8 target price.
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