US:DGT:Dow Jones Industrial Average
The S&P 500 and Nasdaq Composite closed at fresh all-time highs Thursday, rising 0.27% and 0.09% respectively. The Dow Jones Industrial Average added 192 points (0.43%). Despite President Donald Trump’s announcement of a 50% U.S. tariff on imported copper and on Brazil over trade and political disputes, investor sentiment remained strong.
Brazil responded with economic reciprocity measures. The iShares MSCI Brazil ETF (EWZ) dropped 1.6%. Trump also indicated more tariff letters may be sent to Canada and the EU.
Nvidia’s rise to a $4 trillion valuation earlier this week fueled gains, particularly in tech. Analysts noted market resilience amid global uncertainty.
US:NVDA:Nvidia
Nvidia led tech optimism, with shares up 0.8% Thursday after touching a $4 trillion valuation midweek, further propelling the broader indexes to new highs.
US:TSLA:Tesla
Tesla surged 2.5% after CEO Elon Musk revealed its robotaxi service expansion in Austin and teased a Bay Area launch soon. Musk also said xAI’s Grok chatbot will be integrated into Tesla vehicles as early as next week. Earlier, Wells Fargo raised its 2025 delivery forecast to 1.48 million units but kept its underweight rating, citing potential Q4 demand drop after IRA credits expire. It projects a 4% price cut and 59% downside from current levels with a $120 price target.
US:ITB:iShares U.S. Home Construction ETF
The iShares U.S. Home Construction ETF climbed 2% Thursday and 5% on the week, pacing for its best weekly gain since January and logging its best three-week streak since July 2024.
Bitcoin:US:BTC:Bitcoin
Bitcoin hit a fresh all-time high of $113,863.31, driven by heavy short liquidations totaling $318 million over 24 hours. The cryptocurrency has stayed above $100,000 for over 60 consecutive days. Miners like US:MARA:Marathon Digital, US:CLSK:CleanSpark, and US:MSTR:MicroStrategy rallied in after-hours trading, up nearly 3%, 3%, and 1.8% respectively.
US:THRO:BlackRock iShares U.S. Thematic Rotation ETF
BlackRock’s iShares highlighted AI and resilient consumer names as key themes in its updated outlook. Its THRO ETF is up nearly 7% YTD, favoring consumer stocks with strong supply chains over traditional sector strategies.
US:LEVI:Levi Strauss
Levi Strauss jumped 6% in extended hours after raising its sales forecast and beating earnings with $0.22 EPS vs. $0.13 expected on $1.45B revenue.
US:PSMT:PriceSmart
PriceSmart climbed 7% after reporting $1.14 EPS and $1.32B in revenue, both beating expectations.
🛒 Sheng Siong Expands, NHG-ST Engineering Ink Tech Healthcare Pact — Analysts Bullish as Smart Strategies Drive Growth. PSC Takeover, Dezign Format’s IPO, Exxon’s Exit? — Asia’s Corporate Movers Redraw the Map
SGX:OV8.SI:Sheng Siong Group
Analysts from RHB Bank Singapore and CGS International (CGSI) are bullish on Sheng Siong Group, maintaining their “buy” and “add” ratings with upgraded target prices due to the supermarket chain’s aggressive store expansion.
SGX:S63.SI:ST Engineering
NHG Health and ST Engineering have signed a five-year Master Collaboration Agreement (MCA) to co-develop engineering solutions for smarter healthcare in Central and North Singapore.
SGX:U06.SI:PSC Corporation
Sam Goi (Goi Seng Hui), executive chairman of PSC Corporation, has launched a mandatory conditional cash offer at 40 cents per share after acquiring a further 11.55% stake from Sin Huat Company.
SGX:(pending listing) Dezign Format
Dezign Format, founded by Chong Nen Sing and brother Mike, has lodged its preliminary IPO document to list on SGX Catalist, aiming to raise funds for IP expansion, M&A, and working capital.
SGX:GRC (formerly OKH Global)
GRC, previously known as OKH Global, has secured a $242.7 million HDB construction contract for five housing blocks and facilities.
US:XOM:Exxon Mobil
Exxon Mobil is in exclusive talks to sell its 59 Esso gas stations in Singapore to Aster Chemicals and Energy, a JV between Indonesia’s Chandra Asri Group and Glencore.
🎤 Tencent Buys Back, Xiaomi Hits 300K Autos, HSI Climbs — Asia’s Corporate Movers Make Headlines
HK:00700.HK:Tencent
Tencent repurchased 1.008 million shares on July 10 for about HK$500 million, with share prices ranging from HK$494.4 to HK$498.
HK:01810.HK:Xiaomi-W
Xiaomi Auto, the EV arm of Xiaomi-W, has delivered 300,000 vehicles in just 15 months since launching its SU7 model in March 2024.
HK:3115.HK:Hangseng Index
The Hang Seng Index closed up 136 points as Chinese developers, banks, and insurers surged in the afternoon trading session.
HK:09961.HK:Trip.com Group-S
Trip.com-S has formed a travel management partnership with Yili Group.
HK:06288.HK:Fast Retailing-DRS
Fast Retailing-DRS reported an 8.4% increase in net profit for the first three quarters of its FY and expects to raise its full-year dividend by 20%.
HK:02382.HK:Sunny Optical
Sunny Optical reported a 12.7% YoY decline in its June handset lens set shipments.
HK:03690.HK:Meituan-W
Meituan-W launched a “Daily Free Order” campaign, covering up to RMB20 for 10,000 orders daily.
US:NVDA:Nvidia
Nvidia CEO Jensen Huang is reportedly planning a visit to China next week for meetings with senior officials.
HK:01913.HK:Guotai Junan International
Guotai Junan I shares soared over 13% post-midday on expectations of interim earnings rising at least 1.6x.
HK:01113.HK:CK Asset
CK Asset issued HK$2 billion in medium-term notes (MTNs) at some of the lowest recent rates.
🏗️ Malaysia’s Bursa Sees Property Buys, Tax Trouble, Delisting, and IPO Buzz Across KL Counters
KL:0028.KL:NexG Bhd
NexG Bhd, formerly known as Datasonic Group Bhd, is acquiring an industrial property in Petaling Jaya for RM28.5 million.
KL:5184.KL:Avaland Bhd
KL:4405.KL:Tan Chong Motor Holdings Bhd
Avaland Bhd is buying a 3.194-acre site on Jalan Putra, Kuala Lumpur, from Tan Chong Motor Holdings Bhd for RM148.8 million.
KL:5169.KL:Ho Hup Construction Company Bhd
Ho Hup Construction Company Bhd announced that its unit Bukit Jalil Development Sdn Bhd (BJD) received a winding-up petition from the Inland Revenue Board (IRB).
KL:7004.KL:Atlan Holdings Bhd
Atlan Holdings Bhd reported a 40.67% YoY decline in net profit to RM3.06 million for 1QFY2026.
KL:03032.KL:Propel Global Bhd
Propel Global Bhd plans a private placement of up to 73.02 million new shares, or 10% of its issued capital.
KL:5170.KL:Sarawak Cable Bhd
Sarawak Cable Bhd will be delisted from Bursa Malaysia on July 15.
KL:8600.KL:Jasa Kita Bhd
Jasa Kita Bhd announced a trading suspension effective July 11, pending a major announcement.
KL:03049.KL:Enproserve Group Bhd
Enproserve Group Bhd, en route to list on the ACE Market on July 18, revealed its IPO was oversubscribed by 0.43 times.
🛢️ Oil Slumps Over 2% as Trump’s Global Tariff Blitz Fuels Economic Growth Fears
oil:US:UCO
Oil prices plunged over 2% on Thursday as markets assessed the broader economic fallout of US President Donald Trump’s sweeping new tariff threats.
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