Markets Whipsaw as U.S.–China Trade Salvos Rattle Sentiment; Banks Shine, Boeing Sees Delivery Momentum
SGX:S27.SI:S&P 500
The S&P 500 swung from −1.5% to +0.4% intraday before closing −0.2% at 6,644.31 after fresh U.S.–China trade tensions and late-session soybean remarks reversed gains.
US:QQQ:Nasdaq Composite
Tech weakness persisted as the Nasdaq Composite finished −0.8% at 22,521.70 amid pressure on megacaps and chip names.
US:DGT:Dow Jones Industrial Average
The Dow rose +0.4% (46,270.46) after an early −1.3% drop, with industrials helping stabilize the blue-chip gauge.
US:CAT:Caterpillar Inc.
Caterpillar led Dow gainers during the rebound as cyclicals steadied despite renewed tariff risk.
US:NVDA:NVIDIA
NVIDIA stayed under pressure, echoing the tech-led slide that followed recent risk-off moves.
US:C:Citigroup
Citigroup rose on better-than-expected earnings, part of a stronger big-bank reporting day.
US:WFC:Wells Fargo
Wells Fargo jumped after topping estimates, reinforcing resilient consumer and financial trends cited by investors.
US:JPM:JPMorgan Chase
JPMorgan beat expectations but slipped slightly as shares digested already high hopes into results.
US:GS:Goldman Sachs
Goldman Sachs also beat but edged lower, reflecting mixed stock reactions despite solid prints.
US:BAC:Bank of America
Bank of America headlines the next earnings slate due before the bell Wednesday.
US:MS:Morgan Stanley
Morgan Stanley is among major banks set to report Wednesday, with investors eyeing guidance amid volatility.
US:PNC:PNC Financial Services
PNC Financial joins the morning lineup, adding to a busy bank earnings day.
US:ABT:Abbott Laboratories
Abbott Laboratories is on deck to report before the open, adding healthcare to the earnings mix.
US:ASML:ASML Holding
ASML is slated to post results Wednesday, a focal point for semiconductor equipment sentiment.
US:BA:Boeing
Boeing delivered 55 jets last month, pacing its best year since 2018; 40 were 737 MAX aircraft to customers including Ryanair, Southwest, United, China Southern and lessor AerCap.
US:RYAAY:Ryanair Holdings
Ryanair took delivery of multiple 737 MAX jets as part of Boeing’s stronger monthly totals.
US:LUV:Southwest Airlines
Southwest was listed among recipients of new 737 MAX deliveries in the latest Boeing update.
US:UAL:United Airlines Holdings
United Airlines appeared on Boeing’s delivery roster during the improved output month.
US:ZNH:China Southern Airlines
China Southern featured among Boeing’s 737 MAX customers taking recent deliveries.
US:AER:AerCap Holdings
AerCap was named as a leasing customer receiving Boeing jets in the month’s deliveries.
US:BG:Bunge Global
Bunge Global shares climbed nearly 2% after talk of a potential U.S. cooking-oil embargo on China lifted ag processors.
US:ADM:Archer-Daniels-Midland
Archer-Daniels-Midland advanced alongside peers as soybean and cooking-oil headlines buoyed agriculture names.
US:UCO:Oil
WTI crude slipped under $60, reinforcing a risk-off tone even as equities attempted intraday recoveries.
SGX:S27.SI:S&P 500
Volatility spiked: the Cboe VIX hit an intraday high above 22 (closed 20.81) as traders hedged renewed trade-war uncertainty.
US:FBIN:First Brands Group
The high-profile collapse of First Brands contributed to broader jitters cited by market watchers.
AI Megadeal Fever: OpenAI Taps Broadcom; SG Movers as Ever Glory United Eyes Mainboard, Centurion Bets £41m on London Student Housing
SGX:ZKX.SI:Ever Glory United Holdings
Ever Glory United applied to transfer its Catalist listing to the SGX Mainboard to broaden investor access and support growth plans.
SGX:OU8.SI:Centurion Corporation
Centurion moved to enter London’s student accommodation market, agreeing to acquire a site for £41 million.
US:AVGO:Broadcom
Broadcom struck a blockbuster pact with OpenAI to supply custom chips and networking gear for AI data centres, targeting ~10GW of capacity with deployments starting in 2H 2026 and running through 2029.
US:NVDA:NVIDIA
NVIDIA was cited as an existing OpenAI partner, with a plan disclosed last month to invest up to US$100 billion to back new AI infrastructure.
US:AMD:Advanced Micro Devices
AMD’s recently announced agreement with OpenAI aims to deploy 6GW of processors over multiple years.
US:GOOGL:Alphabet
Alphabet’s Google was referenced as a model for cost-cutting via in-house chips designed using Broadcom technology.
US:META:Meta Platforms
Meta was mentioned as a comparator in chip cost dynamics versus Google’s Broadcom-based approach.
US:MRVL:Marvell Technology
Marvell was noted as an alternative supplier that OpenAI could have considered relative to Broadcom.
US:ORCL:Oracle
Oracle appeared in related coverage as investors weighed whether its rally can extend, amid the AI buildout backdrop.
AI-Fueled China Rebound: Dip-Buying Emerges Despite Tariff Threats; Earnings Jitters Put U.S. Rally to the Test
US:KWEB:KraneShares CSI China Internet ETF
U.S.-listed Chinese tech proxies rebounded, with KWEB up 3.8% premarket after a 7.1% Friday drop tied to tariff headlines.
US:BABA:Alibaba Group Holding
Alibaba’s earlier AI-driven surge remained a sentiment anchor as investors bought dips in Chinese tech despite renewed U.S.–China tensions.
HK:01347.HK:Hua Hong Semiconductor
Hua Hong Semiconductor’s strong year-to-date gains exemplified confidence in China’s domestic chipmakers amid policy risks.
US:UBS:UBS Group
UBS strategist James Wang said April’s fast de-escalation has encouraged bottom-fishing during the latest tariff scare.
US:ABDNF:abrdn plc
abrdn’s Xin-Yao Ng noted both sides’ rhetoric looks like bargaining ahead of an intended meeting later in the month.
US:C:Citigroup
A Citigroup index showed U.S. earnings revisions breadth turning flat, signaling waning profit momentum near record equity levels.
US:EVR:Evercore
Evercore ISI’s Julian Emanuel warned reactions this season will be “varied and violent,” with the market “priced near perfection.”
US:JPM:JPMorgan Chase & Co.
JPMorgan reports Tuesday as banks kick off a crucial stretch for sentiment amid tariff noise and rich valuations.
US:C:Citigroup
Citigroup also heads into earnings with expectations elevated after the year’s AI- and growth-led rally.
US:LEVI:Levi Strauss & Co.
Levi shares fell 13% after upgraded guidance still underwhelmed following a 42% year-to-date rally.
US:TSLA:Tesla
Tesla slipped despite record Q3 deliveries; earnings due Oct 22 keep focus on margins and demand.
US:RY:Royal Bank of Canada
RBC’s Lori Calvasina expects a slower beat rate as tariffs bite; analysts see ~7.4% profit growth, the smallest in two years.
US:MS:Morgan Stanley
Morgan Stanley’s strategists said weaker revisions breadth fits October seasonality, viewing it as a pause before potential improvement into 2026.
China Trade Tensions, IPO Buzz & Malaysia Dealflow: Markets Digest Policy Shocks as Corporates Push Ahead
HK:2097.HK:MIXUE GROUP
Began selling beer after acquiring 53% of FULU Fresh Beer for RMB297 million; products reportedly priced from RMB5.9 per cup.
HK:6881.HK:CGS
Received CSRC approval to register and publicly issue up to RMB15 billion in short-term corporate bonds to professional investors.
HK:1109.HK:CHINA RES LAND
September contracted sales rose 4.2% YoY to RMB17.6 billion; 9M25 contracted sales fell 10.4% YoY.
HK:0066.HK:MTR CORPORATION
Named CEO Jacob Kam as Chairman effective Jan 1, 2026; current Chairman Rex Auyeung to retire the same day.
HongKong:3115.HK:Hangseng Index
Closed down 448 points; chip and commodity shares were weak while HSTECH fell 3.6%.
HK:9618.HK:JD-SW (JD.com)
Partnered with GAC to launch a “National Good Car” for 11.11; collaboration also involves CATL.
HK:2238.HK:GAC GROUP
Joined JD-SW and CATL to roll out a “National Good Car” campaign for the 11.11 shopping festival.
HK:9988.HK:Alibaba Group Holding
Said AI tools helped Alibaba.com lift September peak foreign-trade orders by 30%.
KL:0225.KL:Southern Cable Group Bhd
Proposes raising up to RM259.2 million via a 10% share placement to fund expansion and working capital, targeting higher cable and aluminium-rod output and more overseas revenue.
KL:5042.KL:TSR Capital Bhd
Won an RM85 million infrastructure contract for Ibrahim Technopolis (IBTEC) in Kulai, Johor, running from 4Q25 to 3Q27.
KL:0308.KL:KTI Landmark Bhd
Secured an RM70 million job to build Wisma KEPKAS, the new HQ for Sabah’s Ministry of Tourism, Culture and Environment; 36-month completion timeline.
KL:7076.KL:CB Industrial Product Holding Bhd
To divest APSB and PT JJU to Anglo-Eastern Plantations for RM38.25 million, exiting its Indonesian plantation venture; expects RM8.23 million disposal loss.
KL:5011.KL:Mesiniaga Bhd
Obtained a RM17.86 million one-year extension from the Royal Malaysian Customs Department for MYGST system maintenance and licence renewal (Oct 16, 2025–Oct 15, 2026).
KL:0265.KL:Infomina Bhd
Posted higher 1QFY2026 revenue and a slight rise in net profit; said AI-led data initiatives (including ValuationXchange, AiMod, AiExe) are gaining momentum.
KL:4375.KL:South Malaysia Industries Bhd
Filed a fresh judicial review seeking to nullify SC approval of six nominated directors by Target 1 Sdn Bhd and to stay the rulings pending review.
KL:1198.KL:MAA Group Bhd
Urged KNM shareholders to back the RM1.34 billion sale of Deutsche KNM GmbH to NGK Insulators, citing a RM100 million working-capital lifeline at risk if the Oct 30 deadline is missed.
KL:7164.KL:KNM Group Bhd
Restructuring hinges on timely completion of the DKNM disposal to NGK Insulators to unlock RM100 million working capital pledged by scheme creditors.
KL:7811.KL:Sapura Industrial Bhd
Forming a 51:49 JV with Singapore’s Funa Micro Technology to manufacture lithium-battery precision structural components in Malaysia.
China Tech Under Pressure, Target Hikes Roll In: Alibaba Slides as Research Upgrades Lift JD Units and Tencent
HongKong:3115.HK:Hangseng Index
The HSI fell 448 points as tech dragged; the Hang Seng Tech Index also declined, with chips and commodities subdued.
HK:9988.HK:Alibaba Group Holding
Shares fell over 4% as sentiment weakened, even as platform units pushed ahead with Double 11 preparations and overseas campaigns.
HK:6618.HK:JD Health International
Bank of America Securities raised its target price to HK$71 and lifted revenue/profit forecasts, while CICC set TP at HK$67.4, citing sturdy fundamentals.
HK:0700.HK:Tencent Holdings
China Renaissance lifted its target price to HK$780, expecting AI-assisted advertising growth to continue into 3Q.
HK:3690.HK:Meituan
JD.com’s Qixian Kitchen entered Meituan’s instant-commerce network as part of an expansion strategy to build out 10,000 stores over three years.
HK:9618.HK:JD.com
Reported ~48% YoY growth in active users on the first day of this year’s Double 11; Daiwa reaffirmed “Buy” and raised TP to HK$205.
HK:2238.HK:GAC Group
Featured alongside JD.com and CATL in plans to launch a “National Good Car” promotion ahead of the 11.11 shopping festival.
HK:1818.HK:Zhaojin Mining
HSBC said quarterly results missed due to costs but raised TP to HK$37.2 on the back of firm gold prices.
HK:2015.HK:Li Auto
Opened its first overseas retail center in Uzbekistan, marking a step in its international footprint.
HK:3329.HK:BOCOM International
Research highlighted China’s September NEV penetration at 57.8% with a brighter 4Q sales outlook.
HK:1911.HK:China Renaissance
Upgraded Tencent’s TP and flagged continued AI-driven ad momentum into the third quarter.
HK:0005.HK:HSBC Holdings
Its research noted Macau October GGR tumbled 46% WoW in the second week, suggesting some players were drawn to the Singapore F1 Grand Prix.
US:BAC:Bank of America
Through BofA Securities, raised JD Health’s TP and boosted its revenue/profit forecasts.
HK:02097.HK:Mixue Group
Expanded into beer, selling cups from RMB5.9 following the acquisition of 53% of FULU Fresh Beer for RMB297 million.
HK:06881.HK:CGS
Received CSRC approval to register and publicly issue up to RMB15 billion in short-term corporate bonds to professional investors.
HK:01109.HK:China Resources Land
September contracted sales rose 4.2% YoY to RMB17.6 billion; 9M25 contracted sales declined 10.4% YoY.
HK:00066.HK:MTR Corporation
Appointed CEO Jacob Kam as Chairman effective January 1, 2026, with Rex Auyeung set to retire on the same date.
HK:09888.HK:Li Auto (HK-listed)
Noted alongside HK-ticker context as the company grows brand reach with its Uzbekistan retail launch (see also 2015.HK primary).
China Midday: HSI Slips as Research Calls Flood In; Alibaba’s AliExpress Sets Global 11.11, Banks in Focus on Privatization Talk
HongKong:3115.HK:Hangseng Index
HSI eased 50 pts at midday with chips and casinos weaker, while PV names rallied; earlier headlines flagged a 448-pt full-day slide.
HK:0388.HK:HKEX
To launch Hang Seng Biotech Index Futures, adding depth to biotech risk-management tools.
HK:09988.HK:Alibaba Group Holding
AliExpress will kick off its overseas Double 11 campaign on Nov 8.
HK:09988.HK:Alibaba Group Holding
Ele.me is piloting cancellation of overtime deductions for riders across multiple cities, shifting to a “service points” mechanism.
HK:09618.HK:JD.com
Citi expects last quarter’s results to meet expectations.
HK:09618.HK:JD.com
JD’s Qixian Kitchen entered Meituan and Taobao Instant Commerce; plans 10,000 stores within three years.
HK:03690.HK:Meituan
Added JD’s Qixian Kitchen to its instant-commerce network as the brand scales nationally.
HK:09988.HK:Alibaba Group Holding
Taobao Instant Commerce onboarded JD’s Qixian Kitchen for broader same-day retail coverage.
HK:06618.HK:JD Health International
BofA Securities lifted TP to HK$71 with higher revenue/profit forecasts; CICC set TP at HK$67.4, citing steady fundamentals.
HK:00700.HK:Tencent Holdings
China Renaissance raised TP to HK$780, expecting AI-assisted ad revenue growth to continue in 3Q.
HK:01138.HK:COSCO Shipping Energy Transportation
HSBC Global Research said China’s retaliatory port fees on U.S. ships should be positive for earnings.
HK:01276.HK:Hengrui Pharma
Daiwa initiated coverage with “Hold,” TP HK$86, citing dual-innovation positioning.
HK:00968.HK:Xinyi Solar
Climbed over 5% by midday amid strength in PV names.
HK:01044.HK:Hengan International
Hit a new high during the session as defensives outperformed.
HK:01088.HK:China Shenhua Energy
Marked a new high at midday alongside gains in selected resources shares.
HK:00297.HK:Sinofert
Set a new high intraday amid sector rotation.
HK:00011.HK:Hang Seng Bank
JPMorgan said potential privatization would be positive for HSBC’s earnings.
HK:00005.HK:HSBC Holdings
JPMorgan reiterated Overweight; TP HK$122, noting earnings uplift if Hang Seng Bank is privatized.
US:AAPL:Apple
IDC reported 3Q global smartphone shipments rose 2.6% with Apple shipments at a historical high.
US:BIDU:Baidu
Citi raised TP to US$166, expecting 20% growth in 3Q AI Cloud revenue.
US:C:Citigroup
Research desk said JD.com’s latest quarter should meet expectations.
US:BAC:Bank of America
Through BofA Securities, lifted JD Health’s target and forecasts.
US:JPM:JPMorgan Chase & Co.
Projected that a Hang Seng Bank privatization would positively impact HSBC’s earnings profile.
US:NMR:Nomura Holdings
Forecast JD Health’s last-quarter revenue/non-IFRS net profit to grow 24%/14%.
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