AI Deals Fuel Tech Surge While Breadth Remains Weak — Big Winners and Sector Divergence Unfold
US:QQQ:Nasdaq Composite & US:S27.SI:S&P 500 & US:DGT:Dow Jones Industrial Average
The tech-heavy Nasdaq Composite rose 0.46% to finish at 23,834.72 as investors leaned into artificial intelligence-related trades. Meanwhile, the S&P 500 climbed 0.17% to 6,851.97, and the Dow Jones Industrial Average slipped 0.48% to 47,336.68. Broad market breadth remained weak, with more than 300 stocks in the S&P 500 closing in the red.
US:AMZN:Amazon.com Inc.
Amazon’s shares surged about 4% after striking a $38 billion deal with OpenAI to deploy hundreds of thousands of Nvidia Corporation graphics processing units (GPUs) — underscoring its aggressive push into the AI infrastructure race.
US:MSFT:Microsoft Corporation
Microsoft hit the headlines with a major contract: it signed a multiyear $9.7 billion deal with Iren Corporation for access to Nvidia GB300 GPUs. It also secured export licences to ship Nvidia chips to the United Arab Emirates, and disclosed that its total UAE investment will reach $15.2 billion by end-2029.
US:NVDA:Nvidia Corporation
Nvidia’s stock climbed approximately 2% following Microsoft’s export licence win and continued momentum in AI infrastructure demand.
US:MU:Micron Technology Inc.
Micron jumped nearly 5%, leading chip stocks higher amid the data-centre GPU deals.
US:PLTR:Palantir Technologies Inc.
Palantir rose ~1% in after-hours trading after beating earnings expectations: it reported $1.18 billion in revenue and 21 cents in adjusted EPS, topping consensus forecasts. The company also raised guidance for Q4 as its commercial AI business ramps.
US:VRTX:Vertex Pharmaceuticals Incorporated
Vertex shares slipped ~4% after mixed Q3 results: revenue of $3.08 billion beat forecasts, but adjusted EPS of $4.80 fell short of $4.58 estimate.
US:FANG:Diamondback Energy Inc.
Diamondback fell ~2% after announcing it would sell its non-Permian subsidiary assets for $670 million (closure in Q1 2026), despite posting better-than-expected Q3 results ($3.08 EPS vs $2.93 estimate).
US:CLX:The Clorox Company
Clorox gained over 4% after reporting adjusted EPS of 85 cents on revenue of $1.43 billion, beating analyst expectations and reaffirming full-year guidance.
US:HIMS:Hims & Hers Health Inc.
The tele-health firm jumped more than 6% after Q3 results: revenue of $599 million beat $580 million consensus, driven by subscriber growth and “personalised” treatments, though earnings of 6 cents per share fell short of estimate.
US:WMB:The Williams Companies Inc.
Williams dropped about 3% after posting Q3 adjusted EPS of 49 cents, which missed the 51 cents analysts expected, even though revenue beat.
US:UPWK:Upwork Inc.
Upwork surged nearly 14% after raising its full-year 2025 revenue guidance: Q3 revenue of $201.7 million contributed to the bullish revision for Q4 and beyond.
US:IAC:IAC Inc.
IAC declined more than 7% as AI-driven search summaries eroded web-traffic and Q3 revenue fell 8% to $589.8 million — below the $601.6 million expectation. The company also lowered its 2025 adjusted EBITDA outlook.
US:LSCC:Lattice Semiconductor Corporation
Lattice dropped nearly 6% despite beating Q3 estimates: adjusted EPS 28 cents on revenue of $133.3 million. The weak part was its Q4 guidance: revenue growth of 22% and EPS 30–34 cents both came in below consensus.
SGX:BMG2209L1047.SI:Elite UK REIT
Elite UK REIT announced a 9MFY2025 distribution per unit (DPU) of 2.33 pence, maintaining a focus on stable returns for investors.
SGX:CJLU.SI:NetLink NBN Trust
NetLink NBN Trust’s DPU rose 1.1% year-on-year to 2.71 cents for 1HFY2026, signaling resilience in recurring income amid higher operating expenses.
SGX:1H3.SI:Clearbridge Health
Clearbridge Health launched its adult immune-cell banking business targeting Southeast Asia and Hong Kong, expanding its presence in regional biomedicine markets.
HK:1263.HK:PC Partner Group Limited
PC Partner secured approval from HKEX to delist from the Hong Kong Stock Exchange, subject to shareholder approval at an upcoming EGM.
HK:0017.HK:New World Development Company Limited
Hong Kong developer New World Development plans to raise US$1.9 billion in new debt to bolster liquidity amid property-market headwinds.
SGX:E3B.SI:Wee Hur Holdings Ltd
Wee Hur and Avarest Ventures will rename the refurbished former Hotel Miramar as DoubleTree by Hilton, strengthening Singapore’s hospitality landscape.
SGX:42T.SI:Trendlines Group Ltd
Israel-based investment firm Trendlines Group, listed on SGX, reported its market value doubling to about $84 million as shares rebounded to 6 cents. CEO Haim Brosh highlighted portfolio companies like Phytolon and Celleste-Bio as future growth drivers. Trendlines recently raised $8 million via rights issue and private placement to fund investments in agrifood and medical start-ups.
US:MDLZ:Mondelez International Inc
Mondelez was cited as a partner and shareholder in Celleste-Bio, a Trendlines portfolio firm that produced the world’s first chocolate-grade cocoa butter from plant cells, marking a breakthrough in sustainable cocoa production.
SGX:42T.SI:Trendlines Group Ltd — PregnanTech and Portfolio Updates
Trendlines’ PregnanTech continues developing a device to prevent preterm births, while the firm sees potential peace in the Middle East as a boost for Israeli start-ups. Operating costs have been cut by 60% since 2022 to rebuild investor confidence.
HK:0386.HK:China Petrochemical Corporation (Sinopec Group)
Sinopec Group is in talks to take over China National Aviation Fuel Group (CNAF) under Beijing’s directive. The deal could see Sinopec absorb CNAF’s assets and operations, consolidating jet-fuel distribution across China.
SGX:G92.SI:China Aviation Oil (Singapore) Corporation Ltd
China Aviation Oil (Singapore) said its controlling shareholder would undergo a corporate restructuring with another conglomerate as part of the Sinopec-CNAF tie-up, though it expects no material impact on operations.
US:DGT:Dow Jones Industrial Average
The U.S. announced it would suspend port fees for China-linked vessels for a year, in a move to ease trade tensions with Beijing. China reciprocated by suspending its countermeasures, signaling a maritime detente between the two nations.
US:AAPL:Apple
Haitong International raised its target price to US$266.32 after FY4Q25 beat (revenue US$102.5b, EPS US$1.85) and guided FY1Q26 revenue growth of 10–12%.
HK:02333.HK:Great Wall Motor
DBS trimmed target price to HK$19 but kept Buy, citing accelerated overseas expansion to counter an expected 2026 domestic slowdown.
HK:00178.HK:Sa Sa International
Issued a positive profit alert, guiding interim net profit up 50%–56% YoY to ~HK$48.5–50.5m.
HK:07709.HK:XL2 CSOP HYNIX Daily Leveraged
Closed at HK$16.77, up 25.5%, topping ETF gainers for the day.
HK:07747.HK:XL2 CSOP Samsung Daily Leveraged
Finished at HK$30.34, up 7.6%.
HK:09747.HK:XL2 CSOP Samsung Daily Leveraged (USD)
Ended at US$3.894, up 6.7%.
HK:07399.HK:X2 CSOP Nasdaq-100 Daily (Master)
Closed at HK$35.38, up 6.1%.
HK:09399.HK:X2 CSOP Nasdaq-100 Daily (USD)
Ended at US$4.526, up 5.6%.
HK:3115.HK:Hang Seng Index (Proxy)
HSI closed up 251 points at 26,158 as AIA led gains; mainland banks and energy names advanced.
HK:01299.HK:AIA Group
Rallied ~6% to a new high, boosting the HSI’s advance.
HK:00939.HK:China Construction Bank
BOCI raised target price to HK$10.44; shares climbed over 3% intraday.
HK:00005.HK:HSBC Holdings
UBS lifted target price to HK$108.20 on robust 3Q results.
HK:01398.HK:Industrial and Commercial Bank of China
BOCI raised target price to HK$8.34; rating maintained at Buy.
HK:03968.HK:China Merchants Bank
BOCI lifted target price to HK$56.85 and kept Buy.
HK:02318.HK:Ping An Insurance
CMBI hiked target price to HK$75 after 3Q earnings beat.
HK:00700.HK:Tencent Holdings
Nomura expects 3Q non-IFRS net profit to grow 12% YoY and raised target price to HK$757.
HK:01810.HK:Xiaomi
Gained over 3% alongside broader Hong Kong tech strength.
HK:00883.HK:CNOOC
Hit a new high as energy names advanced with the HSI.
HK:00857.HK:PetroChina
BOCI raised target price to HK$8.83 after a 3Q earnings beat; shares notched a new high.
HK:01378.HK:China Hongqiao
Marked a new high amid broad-based gains in Hong Kong equities.
HK:01113.HK:CK Asset
Touched a new high as property leaders participated in the rally.
US:BAC:Bank of America
Its research arm reaffirmed Buy on Apple and raised Apple’s target price to US$325.
US:JPM:JPMorgan Chase
JPM research named Akeso, Hansoh Pharma and WuXi AppTec as top pharma picks into next year.
HK:09926.HK:Akeso
Cited by JPM as a top pick following sector pullback.
HK:03692.HK:Hansoh Pharmaceutical
Highlighted by JPM as a preferred name for the next year.
HK:02359.HK:WuXi AppTec
Included by JPM among top China pharma picks.
US:UBS:UBS Group
Raised HSBC’s target price to HK$108.20 on strong quarterly performance.
HK:00066.HK:MTR Corporation
Plans to issue up to US$25 billion in bonds to support funding needs.
SGX:G92.SI:China Aviation Oil (Singapore)
Said its controlling shareholder will undergo a corporate restructuring with another conglomerate; expects no material operational impact.
e up to US$25 billion in bonds to manage funding needs and support infrastructure growth.
KL:GENTING:Genting Bhd
Genting Bhd’s takeover offer for KL:GENM:Genting Malaysia Bhd has turned unconditional after the group crossed the 50% ownership mark. Genting now owns 2.84 billion GENM shares, or 50.105% of issued shares excluding treasury stock. The offer remains open until Nov 24 unless extended.
KL:CAPITALA:Capital A Bhd
Capital A Bhd is exploring the setup of a Bahrain-based airline as part of its Middle East expansion. The plan follows a Letter of Intent signed to launch AirAsia flights from Malaysia, Thailand, the Philippines and Indonesia to Bahrain, with possible future routes to Europe and the US.
KL:LCTITAN:Lotte Chemical Titan Holding Bhd
Lotte Chemical Titan narrowed its 3QFY2025 net loss to RM197.86 million from RM246.42 million a year ago. Revenue grew 26% YoY to RM2.45 billion, helped by stronger sales from its Malaysian operations and contributions from the Lotte Chemical Indonesia New Ethylene (LINE) project in Merak.
KL:MAHSING:Mah Sing Group Bhd
Mah Sing acquired 275 acres of freehold land in Semenyih from KL:SPSETIA:S P Setia Bhd’s subsidiary Petaling Garden Sdn Bhd for RM273.5 million to develop M Legasi 2, a RM1.7 billion integrated township expansion adjacent to its existing 500-acre M Legasi project.
KL:MMAG:MMAG Holdings Bhd
MMAG Holdings said it is unaware of any reason behind the unusual market activity that sent its shares limit-down to a 19-month low. The company also announced the resignation of executive director Chin Boon Long after his spouse ceased to be a substantial shareholder eight months ago.
KL:ZENTECH:Zen Tech International Bhd
Zen Tech’s plan to acquire a 30% stake in Souqa Fintech Sdn Bhd, a shariah-compliant payment gateway provider, collapsed after Souqa terminated the LOI due to commercial and structural issues found during due diligence. Neither party was under legal obligation to proceed.
KL:HOHUP:Ho Hup Construction Co Bhd
Ho Hup has five days to submit its 2025 annual report or risk suspension on Nov 10. The company missed the October deadline but expects to release its report by Nov 7 as it nears completion.
KL:DESTINI:Destini Bhd
Destini has until Nov 7 to file its FY2025 annual report after missing the Oct 31 deadline. The engineering group, which recently returned to profitability via a pivot to rail projects, faces possible trading suspension from Nov 10 and de-listing if delayed beyond six months.
KL:IREKA:Ireka Corp Bhd
Ireka Corp has signed a non-binding term sheet with China-based Rongyao Investment Chengdu Co Ltd for a recapitalisation plan to exit its PN17 status. The deal includes cash injection, asset infusion and creditor restructuring to stabilise the company’s financial position.
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