Wall Street Braces for Nvidia as Tech Weakness Drags Markets Lower
US:DGT:Dow Jones Industrial Average
SGX:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:BTC:Bitcoin
U.S. stock futures were mostly unchanged Tuesday night as major indexes extended their losing streak. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite each recorded additional declines, with the S&P 500 marking its longest skid since August. Bitcoin briefly slipped under 90,000 before recovering, while gold edged higher.
US:NVDA:Nvidia
US:PLTR:Palantir
US:MSFT:Microsoft
US:AMD:Advanced Micro Devices
US:XLK:Technology Select Sector SPDR Fund
Most market sectors finished higher Tuesday, yet major tech names pulled indexes into the red. Nvidia, Palantir, Microsoft and Advanced Micro Devices slipped again, dragging the Technology Select Sector SPDR Fund down 1.6%. Technology and consumer discretionary remain the weakest sectors this month, while health care shows relative strength.
US:NVDA:Nvidia
Investors are focused on Nvidia’s upcoming third-quarter report due Wednesday. Analysts expect the chipmaker to surpass Wall Street’s forecasts, driven by demand for its AI hardware. Still, traders have recently taken profits amid worries that valuations for Nvidia and other AI leaders may have overheated.
US:TGT:Target
US:LOW:Lowe’s
US:TJX:TJX Companies
Results from Target, Lowe’s and TJX Companies are also due Wednesday morning. Their reports could provide a clearer read on U.S. consumer spending following weeks of limited economic data during the government shutdown.
Analysts say tech volatility reflects the sector’s strong gains this year and growing concentration risk at both index and portfolio levels. Investors heavily allocated to AI-related names remain nervous and quick to react to pullbacks.
US:LZB:La-Z-Boy
La-Z-Boy jumped nearly 7% in after-hours trading after the retailer posted stronger-than-expected second-quarter earnings. Adjusted profit of 71 cents per share topped estimates, and revenue of $522.5 million exceeded forecasts.
US:ON:ON Semiconductor
ON Semiconductor rose almost 4% after announcing a $6 billion share buyback program set to run over the next three years beginning January 2026.
US:DLB:Dolby Laboratories
Dolby Laboratories slipped 1% following weaker-than-expected fiscal first-quarter guidance. The company projected earnings and revenue below analyst expectations, though it beat estimates for the fourth quarter.
US:CEG:Constellation Energy
US:MSFT:Microsoft
Constellation Energy gained 2.6% after officials confirmed the U.S. government will extend a $1 billion loan to restart the Crane Clean Energy Center in Pennsylvania, formerly Three Mile Island Unit 1. The plant is expected to return to service in 2027 and will support power needs tied to Microsoft’s regional data centers.
HK:3115.HK:Hang Seng Index
Asia-Pacific markets looked set for a higher open Wednesday even as Wall Street weakened. Futures for Hong Kong’s Hang Seng Index pointed upward, while Japan’s Nikkei 225 and Australia’s ASX/S&P 200 also signaled early strength.
US:DGT:Dow Jones Industrial Average
SGX:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
US:BTC:Bitcoin
During Tuesday’s session, the Dow fell 498.50 points, the S&P 500 dropped 0.83% and the Nasdaq Composite slid 1.21%. The declines reinforced the multi-day losing streak across major indexes. Bitcoin’s brief dip below 90,000 signaled reduced investor risk appetite.
🔥 AI Tailwinds, Big Contracts & Strong Debuts: Key Market Movers Today
SGX:I07.SI:ISDN Holdings
ISDN Holdings reported a turnaround with a $2.29 mil net profit for 3QFY2025 versus a loss last year.
Despite FX-related non-cash revaluations affecting headline profit, core profit surged 144.4% y-o-y to $2.1 mil and 57.5% y-o-y to $6.6 mil for 9M.
Revenue climbed 21.7% to $109.9 mil for the quarter, supported by strong demand in its automation segment and hydropower projects.
The group continues to expand presence in Malaysia and Taiwan while targeting the completion of two more mini-hydropower plants by 2026.
SGX:5LY.SI:Marco Polo Marine
Analysts from Maybank Securities, CGS International, UOB Kay Hian and RHB Bank Singapore remain bullish as Marco Polo Marine secured its largest-ever $198 mil shipbuilding contract to build an oceanographic research vessel for Taiwan’s National Academy of Marine Research.
Maybank and CGSI raised target prices to 13 cents and 14 cents respectively, citing stronger revenue visibility and improving margins.
UOB Kay Hian expects margins to trend toward the upper range of 8%–12%, projecting healthy cash flow as the project is fully self-financed.
RHB raised its target to 12.2 cents, forecasting a 27% jump in FY2026 revenue from strong progressive recognition.
SGX:Y7T.SI:Yangzijiang Maritime
Yangzijiang Maritime, the spin-off of Yangzijiang Financial Holding, debuted strongly on SGX at 67 cents, up 11.7% from its placement price.
The stock saw robust interest with 58 million shares traded, raising $5.2 million via private placement.
The company closed the day with a market cap of $2.34 billion, marking the group’s third SGX-listed entity.
🔥 China Tech Earnings Light Up Markets as Xiaomi Soars, Baidu Swings to Loss, and Weibo Surges
HK:01810.HK:Xiaomi
Xiaomi reported a strong 3Q2025 performance with revenue rising 22.3% y-o-y to RMB113.12 billion.
Non-IFRS net profit surged 80.9% y-o-y to RMB11.31 billion, beating market expectations.
Gross profit also jumped 37.4%, driven by strength across its electronics ecosystem.
HK:09888.HK:Baidu
Baidu posted a sharp reversal, swinging to a net loss of RMB11.23 billion for 3Q2025 due to impairments in long-lived assets.
Despite improved non-GAAP metrics — including a 36% drop to RMB3.77 billion which still beat forecasts — the company’s earnings remained pressured.
HK:09898.HK:Weibo
Weibo delivered a strong quarter, with 3Q net income climbing 69.3% y-o-y to US$221 million.
Revenue fell 4.8% y-o-y to US$442 million, yet improved profitability boosted overall sentiment.
HK:00002.HK:CLP Holdings
HK:02638.HK:HK Electric Investments
Both utilities announced tariff reductions effective January 2026.
CLP will cut average net tariffs by 2.6%, while HK Electric will reduce theirs by 2.2%, aiming to ease consumer cost burdens.
HK:01378.HK:China Hongqiao
China Hongqiao’s controlling shareholder increased its stake to 64.02% after acquiring roughly HK$230 million worth of shares, signalling confidence in the group’s long-term prospects.
HK:3115.HK:Hang Seng Index
The Hang Seng Index fell 454 points as XPeng plunged over 10%, while Xiaomi and Baidu weakened ahead of earnings.
ETF standout XI2 CSOP Bitcoin surged 21%, becoming the day’s top gainer.
AI Rally, Corporate Shakeups and Market Volatility Drive Headlines Across Asia
HK:01810.HK:Xiaomi-W
Xiaomi-W reported a strong 3Q performance with revenue rising 22.3% YoY to RMB113.1B and non-IFRS net profit jumping 80.9% to RMB11.31B, beating forecasts.
HK:09888.HK:Baidu-SW
Baidu-SW posted a 3Q non-GAAP net profit of RMB3.77B, down 36% YoY, yet still beating analyst estimates. The company also reported a swing to a RMB11.2B loss under long-lived asset impairments.
HK:09898.HK:WB-SW
WB-SW announced 3Q net income of US$221M, up 69% YoY despite revenue dipping 4.8%.
HK:00002.HK:CLP Holdings
CLP Holdings plans to cut average net tariffs by 2.6% beginning January 2026.
HK:02638.HK:HK Electric Investments
HK Electric will reduce average net tariffs by 2.2% from January 2026.
HK:01378.HK:China Hongqiao
China Hongqiao’s controlling shareholder increased its stake to 64.02% with additional purchases of roughly HKD230M.
HK:3115.HK:Hang Seng Index
The HSI closed down 454 points as XPeng and major tech names weakened across the session.
HK:00175.HK:Geely Auto
CICC and Morgan Stanley maintained bullish views on Geely Auto, citing profitability support from new model releases and upside potential in coming weeks.
HK:01378.HK:China Hongqiao
Morgan Stanley warned of short-term pressure on China Hongqiao but remained upbeat on long-term aluminium pricing trends.
HK:09868.HK:XPeng-W
XPeng-W plunged over 10% after earnings, contributing notably to HSI and HSTI declines.
HK:00363.HK:Shanghai Industrial Holdings
Shanghai Industrial Holdings hit new highs even as broader Hong Kong markets fell.
CN:300750:CATL
JPMorgan advised investors to rotate into CATL A-shares as lock-up expiry approaches for H-shares.
US:NIO:NIO
NIO’s Firefly right-hand-drive models entered mass production, with the first batch headed to Singapore.
US:DGT:Dow Jones Industrial Average
Risk sentiment weakened as Bitcoin slid 6% and Dow futures dropped more than 200 points.
US:BTC:Bitcoin
Bitcoin declined sharply during broader sell-offs in risk assets.
HK:00020.HK:SenseTime-W
SenseTime-W led development of China’s first national standard for digital human technologies.
UK:HSBA:HSBC Holdings
Reports surfaced of board disagreements within HSBC Holdings over the selection of its next chairman.
HK:00000.HK:HKUST
The Hong Kong government confirmed the establishment of a third medical school led by HKUST, with enrolment starting in 2028.
HK:09999.HK:Damai Entertainment
Citi expects minimal market impact on Damai Entertainment from rising China-Japan geopolitical tensions.
HK:3115.HK:Hang Seng Index
The HSI recorded heavy midday and closing losses, falling over 500 points at one stage as tech stocks dragged.
🔥 Malaysia Corporate Earnings Pulse: Profit Swings, Capacity Expansions & Strategic Moves Shape the Week 🔥
KL:7277.KL:Dialog Group
Dialog Group Bhd reported a 7.3% drop in quarterly net profit to RM140.02 million due to weaker JV and associate contributions affected by unrealised FX losses. Revenue rose 3.6% to RM657 million. No dividend was declared. The group also signed a deal with BP Singapore to more than double storage capacity at its Pengerang Deepwater Terminals Phase 3 by 614,000 m³ with completion expected in mid-2028.
KL:9296.KL:RCE Capital
RCE Capital Bhd saw a 5.3% rise in 2QFY2026 net profit to RM29.31 million as lower funding costs and higher loan disbursements supported earnings. Quarterly revenue grew 2.8%. For 1HFY2026, profit slipped 4.9% despite stronger fee income.
KL:3662.KL:Malayan Flour Mills
Malayan Flour Mills Bhd posted a near fivefold surge in 3Q net profit to RM35.79 million, driven by lower wheat costs and stronger JV results. Revenue eased 3.3%. For 9MFY2025, profit rose 51.3% to RM96.95 million.
KL:7259.KL:Teo Seng Capital
Teo Seng Capital Bhd reported its 3Q net profit more than halved to RM25.35 million after the government removed egg subsidies. Revenue rose 5.9% as higher volumes offset weaker selling prices.
KL:1724.KL:Paramount Corp
Paramount Corp Bhd saw its 3Q net profit jump 52.65% to RM25.02 million due to the redemption of perpetual securities, although revenue fell 11.26%. The group will take a cautious approach to upcoming launches.
KL:8125.KL:Manulife Holdings
Manulife Holdings Bhd reported a 53% drop in 3Q net profit to RM17.02 million, weighed down by higher expenses despite higher insurance and asset management revenue, which grew 5.4%.
KL:5110.KL:UOA REIT
UOA Real Estate Investment Trust recorded a marginal 0.2% dip in 3Q net profit to RM10.45 million as higher maintenance costs offset an 8.3% increase in rental income.
KL:4162.KL:British American Tobacco Malaysia
BAT Malaysia announced cigarette price hikes effective Nov 21 following a two-sen-per-stick excise duty increase under Budget 2026. Prices for Dunhill, Benson & Hedges, Peter Stuyvesant and others will rise accordingly.
KL:0163.KL:Careplus Group
Careplus Group Bhd cancelled its proposed rights issue due to its 69% YTD share price decline. The rights exercise would have raised up to RM55.4 million for its EV manufacturing hub.
KL:5606.KL:IGB
IGB Bhd acquired the former Movie Animation Parks Studios (MAPS) land in Perak for RM43.65 million to expand its land bank. The theme park had closed permanently in 2020 following weak visitor turnout.
🔥 Property Giant CDL Slows, CATL Faces Lock-Up Test, and Trump Nears Fed Pick — Markets Brace for Turbulence
SGX:C09.SI:City Developments Ltd
City Developments Ltd (CDL) reported a sharp drop in Singapore property sales, sliding 48.7% y-o-y to S$313.2 million in 3Q. Only 88 units were sold, down from 321 a year earlier as no new launches came to market.
CDL is now in advanced negotiations to sell Quayside Isle @ Sentosa Cove and recently divested Piccadilly Galleria for S$65.46 million. Year-to-date, total sales value rose to S$2.5 billion, boosted by The Orie project in Toa Payoh.
US:DGT:Dow Jones Industrial Average
The White House is moving closer to selecting the next US Federal Reserve chair. Treasury Secretary Scott Bessent said President Trump will interview final candidates after Thanksgiving, with a decision expected before Christmas.
HK:3009.HK:Contemporary Amperex Technology Co. Ltd (CATL)
Contemporary Amperex Technology Co. Ltd (CATL) faces a major test as its six-month Hong Kong lock-up expires, freeing 77.5 million shares. The stock has surged 92% since its May listing, but analysts warn of selling pressure due to its premium valuation relative to A-shares.
Despite short-term volatility, analysts from JPMorgan, Macquarie and Mizuho see long-term upside from CATL’s dominance in the fast-growing energy storage system (ESS) market. Potential inclusion in the Hang Seng Index and Hang Seng Tech Index could also attract inflows.
HK:0386.HK:Sinopec
Sinopec is among cornerstone investors in CATL’s blockbuster HK listing, although analysts expect most strategic investors to hold their stakes despite the lock-up expiry.
US:KIA:Kuwait Investment Authority
Kuwait Investment Authority, another cornerstone investor in CATL, is expected to retain its position even as other funds may rotate to cheaper A-shares.
US:HILLHOUSE:Hillhouse Investment
Hillhouse Investment is also among CATL’s cornerstone group and part of the investor cohort analysts believe could influence selling pressure depending on market sentiment.
Thank you
