📈 *Markets Rebound as Shutdown Deal Progress Sparks AI-Led Rally*
US:DGT:Dow Jones Industrial Average
SGX:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:NVDA:Nvidia
US:AVGO:Broadcom
US:MSFT:Microsoft
U.S. stocks jumped on Monday after Senate lawmakers advanced a key step toward ending the record government shutdown. The Dow rose 0.81%, the S&P 500 gained 1.54% and the Nasdaq climbed 2.27%. AI leaders Nvidia and Broadcom paced gains, while Microsoft rebounded 1.9% after its longest losing streak since 2011.
US:AMD:Advanced Micro Devices
US:ORCL:Oracle
Wall Street is focused on AMD’s upcoming analyst day, seen as the next test for the AI investment rally. AMD shares have surged this year on partnerships with AI firms including OpenAI and Oracle, though momentum recently eased after margin guidance met expectations.
US:BTC:Bitcoin (Not directly mentioned but to follow required format – no bitcoin in news so **removed**)
US:ORCL:Oracle (already above) – no duplicate paragraph needed
US:AMZN:Amazon
US:NVDA:Nvidia
UBS said AI-linked stocks should continue to drive equity markets, pointing to momentum including a recent $38 billion collaboration between OpenAI and Amazon. The firm encouraged investors to add diversified exposure in the AI sector.
US:KMX:CarMax
Morgan Stanley downgraded CarMax to equal weight, lowering its price target due to leadership uncertainty and pressure on execution. The move follows CEO Bill Nash’s unexpected departure and weaker outlook guidance.
US:DGT:Dow Jones Industrial Average
SGX:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:NVDA:Nvidia
US:GOOGL:Alphabet
US:MSFT:Microsoft
US:AMZN:Amazon
Stock futures hovered near flat after Monday’s rally as investors awaited Senate and House votes to finalize the shutdown-resolution deal. Nvidia surged nearly 6% Monday, while Alphabet gained 4% and Microsoft broke its week-long slide.
US:NVDA:Nvidia (backer of CoreWeave)
CoreWeave shares slipped in after-hours trading as the cloud infrastructure firm said it remains constrained by limited data center supply. Despite this, the company reported stronger-than-expected quarterly revenue, up 134% from last year.
📌 AI Demand, Contract Wins and Earnings Shape Regional Corporate Outlook
SGX:AP4.SI:Riverstone Holdings
Riverstone reported 3QFY2025 net profit of RM52 million, down 28% y-o-y, as healthcare glove selling prices fell amid stronger competition. Revenue declined 17.1% y-o-y, though q-o-q sales improved due to higher cleanroom consumables demand from data centre and AI-linked industries, alongside stronger customised glove shipments.
SGX:5VW.SI:Sanli Environmental
Sanli M&E Engineering secured a PUB project worth $205 million to develop Changi NEWater Factory 3, boosting its order book to a record $838.7 million following a prior $281 million LTA project win in October.
SGX:5CR.SI:Asiatic Group
Asiatic guided for higher 2QFY2026 net profit due to improved margins in fire protection services, foreign exchange gains, lower borrowing costs and tax refunds across divisions.
SGX:WJP.SI:Vicom
Vicom, a subsidiary of SGX:C52.SI:ComfortDelGro, posted a 45% y-o-y jump in 3QFY2025 patmi to $9.9 million, supported by the OBU project rollout and stronger vehicle testing demand, though operating costs increased from project-related expenses.
SGX:F9D.SI:Boustead Singapore
Boustead reported 1HFY2026 earnings of $34.9 million, down 3% y-o-y, as lower revenue in real estate and healthcare units offset gains in geospatial. Engineering order backlog stands at roughly $396 million.
SGX:C07.SI:Jardine Cycle & Carriage
JC&C expects full-year underlying profit to remain similar to last year. Astra posted lower contributions due to currency pressure and softer mining earnings, while Vietnam’s THACO saw strong commercial vehicle sales but weaker passenger car margins.
US:TSM:Taiwan Semiconductor Manufacturing Co
TSMC’s monthly revenue growth slowed to 16.9%, raising questions about near-term AI semiconductor demand. However, major tech firms including US:NVDA:Nvidia, US:GOOGL:Alphabet, US:AMZN:Amazon and US:MSFT:Microsoft plan to spend over US$400 billion next year on AI infrastructure expansion.
US:AMD:Advanced Micro Devices
AMD continues to compete for advanced chip supply at TSMC as AI computing demand grows, alongside rivals such as US:QCOM:Qualcomm.
SGX:S08.SI:Singapore Post
SingPost reported 1HFY2025/2026 net profit of $18.4 million. Underlying net profit declined due to a steep drop in cross-border e-commerce volumes, though its property division remained resilient with near-full occupancy at SingPost Centre.
US:AVPT:AvePoint
AvePoint beat 3QFY2025 earnings expectations with stronger SaaS revenue and improved operating margins, though shares eased over caution toward the near-term outlook tied to US government spending timelines.
SGX:A31.SI:Addvalue Technologies
Addvalue’s 1HFY2026 earnings surged to US$1.98 million as its advanced digital radio and space connectivity segments drove revenue growth, improving margins and operating income.
US:UCO:Oil (Crude Benchmark)
Oil prices rose as hopes of an end to the US government shutdown supported broader markets. Traders await key supply outlook reports from OPEC, IEA and EIA to assess whether a global surplus is forming.
AI-Crafted Brief: Big Bonds, Bigger Builds — Malaysia’s Market Movers in Minutes
KL:3182.KL:Genting Bhd
Genting Bhd sold RM900 million in one-year medium-term notes at one-month KLIBOR +1.80% (effective ~4.8%) to part-finance purchasing Genting Malaysia shares under last month’s takeover offer. :contentReference[oaicite:0]{index=0}
KL:4715.KL:Genting Malaysia Bhd
Genting Malaysia is the takeover target in Genting Bhd’s cash offer, with proceeds from the new notes earmarked to fund the acquisition. :contentReference[oaicite:1]{index=1}
KL:5285.KL:SD Guthrie Bhd
SD Guthrie launched Malaysia’s largest sustainability-linked sukuk — RM2.1 billion across a 10-year tranche at 3.8% and a 15-year tranche at 3.97% — to meet short-term needs, including redeeming a 5.65% perpetual in March 2026. :contentReference[oaicite:2]{index=2}
KL:5296.KL:MR D.I.Y. Group (M) Bhd
MR D.I.Y.’s 3Q net profit rose 11.9% to RM136.12 million on stronger 47.3% gross margin and 5.6% higher revenue to RM1.198 billion; it announced a third interim dividend of 1.3 sen payable Dec 5. :contentReference[oaicite:3]{index=3}
KL:5024.KL:Hup Seng Industries Bhd
Hup Seng flagged cost pressures and softer exports after 3QFY2025 net profit fell 10.4% y-o-y to RM15.47 million despite revenue edging up to RM105.7 million; a two-sen dividend was declared. :contentReference[oaicite:4]{index=4}
KL:5176.KL:Sunway Real Estate Investment Trust
Sunway REIT’s 3QFY2025 net property income climbed 25.3% to RM180.9 million on full-quarter contributions from new retail and industrial assets; revenue grew 23.1% to RM236.4 million; no distribution was declared for the quarter. :contentReference[oaicite:5]{index=5}
KL:8583.KL:Mah Sing Group Bhd
A Mah Sing unit agreed to buy 2.83 acres in George Town from Penang Development Corp for RM51.8 million to build a RM528 million mixed project near the upcoming Mutiara LRT Line Bandar Sri Pinang station. :contentReference[oaicite:6]{index=6}
KL:5225.KL:IHH Healthcare Bhd
IHH’s mandatory offers for an additional 26% each in India’s Fortis Healthcare Ltd and Malar Hospitals Ltd closed with negligible acceptances, leaving IHH at 31.17% of Fortis and 62.73% of Malar. :contentReference[oaicite:7]{index=7}
KL:5021.KL:AYS Ventures Bhd
AYS Ventures’ unit Ann Yak Siong (Singapore) subscribed S$9.74 million for 9.74 million new shares in 3HA Capital, taking its stake to 14.9%; 3HA Capital owns CosmoSteel Holdings. :contentReference[oaicite:8]{index=8}
SGX:B9S.SI:CosmoSteel Holdings Ltd
As owner 3HA Capital raised funds from AYS Ventures’ unit, CosmoSteel — now delisted from SGX — remains the underlying asset referenced in the transaction. :contentReference[oaicite:9]{index=9}
📈 Hong Kong Market Rally Builds as Tech & Gaming Names Lift Sentiment
HK:02382.HK:Sunny Optical
Sunny Optical reported October handset lens set shipments of 122 million units, up 5.7% y-o-y and 4% m-o-m, while handset camera module shipments rose 33.2% y-o-y to 45 million units.
HK:00027.HK:Galaxy Entertainment
UBS named Galaxy Entertainment as a top pick after Macau’s early-November gaming revenue averaged MOP711 million daily, indicating healthy demand.
HK:02282.HK:MGM China
MGM China was also highlighted by UBS as continued stable visitor spending supported Macau gaming performance.
HK:01128.HK:Wynn Macau
Wynn Macau was identified among UBS’s preferred operators following resilient mass-market gaming trends.
HK:3115.HK:Hangseng Index
The Hang Seng Index rose 407 points or 1.6% to close at 26,649, led by tourism and consumption-related stocks.
HK:01880.HK:CTG Duty-Free
CTG Duty-Free surged 15% on strong travel and tourist spending momentum in the Hong Kong and Macau retail sector.
US:WDC:Western Digital
Global media reported that Western Digital raised flash memory pricing, supporting sentiment in tech hardware supply chains.
HK:07711.HK:XL2CSOPCOIN
XL2CSOPCOIN rose 13.4%, topping Hong Kong ETF gainers for the day.
HK:09711.HK:XL2CSOPCOIN-U
The U.S.-denominated version climbed 12.6% alongside strong crypto-linked product demand.
HK:07709.HK:XL2CSOPHYNIX
XL2CSOPHYNIX gained 11.4% in a broad rally across leveraged thematic ETFs.
HK:07799.HK:XL2CSOPMSTR
XL2CSOPMSTR rose 10.9% as investors rotated back into risk assets.
HK:09799.HK:XL2CSOPMSTR-U
The U.S.-denominated version advanced 9.0% to finish firmly higher.
HK:09992.HK:POP MART
POP MART climbed over 8% as consumer and entertainment names outperformed.
HK:02318.HK:Ping An
Ping An hit a new high as insurers rallied on expectations of stronger dividend payouts.
HK:00883.HK:CNOOC
CNOOC extended gains to new highs helped by stable crude price outlook.
HK:02628.HK:China Life
China Life reached fresh highs amid analyst expectations of increased full-year dividend distributions.
HK:00857.HK:PetroChina
PetroChina rose as energy shares tracked improving sentiment in the commodities market.
HK:02688.HK:ENN Energy
ENN Energy hit new highs, supported by stable utility demand and defensive sector buying.
JP:4911:Shiseido
Shiseido reported a 1–3Q loss of JPY43.98 billion and lowered full-year guidance; a voluntary resignation program affecting ~200 roles is planned for December.
HK:09618.HK:JD.com
Morgan Stanley downgraded JD.com to Underweight, citing the lingering effects of trade-in subsidy promotions on profitability.
HK:01336.HK:NCI
Goldman Sachs maintained a Sell rating on NCI while raising its target price to HKD33.
HK:02601.HK:CPIC
Goldman Sachs raised CPIC’s target price to HKD34 and kept a Buy rating on expectations of stable insurance earnings.
US:TSM:TSMC
TSMC reported October revenue growth of 16.9% y-o-y, slightly below forecasts, reflecting near-term normalization in semiconductor demand.
🌏 Asia Markets Lift as Tourism, Consumption & Policy Signals Support Sentiment
HK:02382.HK:Sunny Optical
Sunny Optical’s October handset lens set shipments rose 5.7% y-o-y to 122 million units, while handset camera module shipments climbed 33.2% y-o-y, reflecting steady customer demand.
HK:00027.HK:Galaxy Entertainment
UBS highlighted Galaxy Entertainment as a top pick, noting Macau’s average daily gaming revenue in early November remained stable around MOP711 million.
HK:02282.HK:MGM China
MGM China was also included among UBS’s top calls, supported by resilient tourism and mass-market play.
HK:01128.HK:Wynn Macau
Wynn Macau was similarly favored by UBS amid consistent visitor spending and steady gaming demand.
HK:3115.HK:Hangseng Index
The Hang Seng Index closed up 407 points to 26,649, led by tourism and consumer-related stocks.
HK:01880.HK:CTG Duty-Free
CTG Duty-Free surged 15% as duty-free shopping in Hainan’s Haikou rose around 35% y-o-y in the first week of the new policy implementation.
HK:01475.HK:Nissin Foods
Nissin Foods posted a 1–3Q net profit of HK$258 million, up 2.7% y-o-y, supported by stable demand for instant food products.
HK:09992.HK:POP MART
POP MART climbed more than 6% at midday as consumer sentiment continued to improve alongside tourism momentum.
HK:02318.HK:Ping An
Ping An hit new highs as insurer shares gained on expectations of stronger future dividends.
HK:00883.HK:CNOOC
CNOOC reached new highs as energy names were bolstered by steady crude market outlook.
HK:02688.HK:ENN Energy
ENN Energy also hit new highs as investors favored defensive utilities and stable-margin operators.
HK:02628.HK:China Life
Analysts projected China Life’s full-year dividend could grow significantly, supporting buying interest.
CN Policy Update
China will pause special port fees on U.S. ships for one year and temporarily hold countermeasures on U.S. subsidiaries of Hanwha Ocean, signaling tactical easing.
US:DGT:Dow Jones Industrial Average
The U.S. Senate passed an appropriations bill, moving closer to ending the government shutdown and reducing global market policy uncertainty.
HK:02451.HK:BYD Company
Goldman Sachs said BYD remains confident in overseas expansion, with international markets expected to drive future growth.
HK:03033.HK:CATL (via H-shares listing)
CLSA maintained an Outperform rating on CATL, viewing major post-IPO lock-up corrections as unlikely.
HK:01929.HK:Chow Tai Fook
BOCI said the sector decline after China’s gold VAT adjustments was excessive and maintained positive preference for Chow Tai Fook.
HK:00590.HK:Luk Fook
BOCI also continued to favor Luk Fook, expecting jewelry retail demand to remain resilient.
HK:02328.HK:PICC P&C
CICC raised PICC P&C’s target price to HKD19.1, citing stronger earnings and growing overseas expansion prospects.
US:TSM:TSMC
TSMC’s October revenue rose 16.9% y-o-y but fell short of expectations, hinting at a near-term easing in semiconductor growth momentum.
🔥 Market Buzz: Analysts Shift Outlook on Tech, Biotech & Consumer Names
HK:01024.HK:Kuaishou
CLSA expects Kuaishou’s 3Q revenue to grow 13% y-o-y and adjusted net profit to rise 23%, driven by stronger monetization efficiency.
US:ZLAB:Zai Lab
BofA Securities slashed Zai Lab’s target price to US$19.92 due to weaker sales trends in core pharmaceutical products.
US:BIDU:Baidu
CLSA forecasts Baidu’s 3Q adjusted core business EBIT to fall 69%, but expects revenue and profitability to improve starting 4Q.
HK:3001.HK:BeOne Medicines
BofA Securities raised BeOne Medicines’ target price to HK$242.87 and lifted earnings forecasts, citing strong clinical progress.
US:ZLAB:Zai Lab
Citi also lowered its target price on Zai Lab to US$58 after 3Q revenue fell below expectations.
HK:01700.HK:DL Holdings Group
DL Holdings surged over 9% after guiding interim net profit to rise to HK$180–220 million.
HK:09992.HK:POP MART
POP MART jumped around 5% as consumer-themed stocks gained momentum alongside improving domestic sentiment.
HK:02260.HK:Auntea Jenny
Auntea Jenny surged over 11% after introducing a new incentive scheme targeting franchise and retail expansion.
HK:00200.HK:Melco International
HTSC cut Melco International’s target price to HK$5.6, citing slower-than-peers recovery in average daily gaming revenue.
HK:01128.HK:Wynn Macau
CICC lifted Wynn Macau’s target price to HK$7.9 and maintained an Outperform rating, citing stable gaming demand.
US:V:Visa
Visa is nearing a settlement with merchants to resolve a two-decade-long dispute over card swipe fees.
US:MA:Mastercard
Mastercard is also part of the settlement process aimed at ending long-running merchant litigation on interchange fees.
HK:01347.HK:Hua Hong Semiconductor
Daiwa upgraded Hua Hong Semiconductor to Buy and raised its target price to HK$110 on expectations of improving foundry utilization.
HK:00291.HK:JOYSN ELEC
Citi placed Joyson Electronics on a 30-day catalyst watch, setting a HK$27 target price and maintaining a Buy call.
HK:3115.HK:Hang Seng Index
The Hang Seng Index opened 77 points higher, led by gains in POP MART and broader consumer-related shares.
US:DGT:Dow Jones Industrial Average
U.S. Democratic Party leadership reportedly reached a funding agreement, increasing expectations that the federal government shutdown will soon end.
Thank you
