Market Recap
US stocks climbed on Thursday, with the Nasdaq rising over 200 points, rebounding after the previous session’s selloff. Gains in tech giants including Nvidia, Broadcom, and Amazon helped lift major indexes as investors refocused on corporate earnings and trade developments.
Optimism returned after US President Donald Trump said that a meeting with China’s president is “on the calendar,” easing worries about escalating trade tensions. Still, reports suggested the administration is considering tightening software export restrictions, keeping investors cautious.
The S&P 500 snapped back from Wednesday’s 0.5% drop, while traders continued to watch quarterly results from major corporations and monitor signs of progress in US–China trade relations.
US Stocks
Major tech stocks advanced across the board. Nvidia rose 1.04%, Amazon climbed 1.44%, Tesla gained 2.28%, and Oracle surged 2.72%. Apple added 0.44%, while Microsoft closed flat.
Chinese ADRs also rallied, with the Nasdaq Golden Dragon China Index up 1.66%. Alibaba jumped 3.64%, JD.com rose 2.22%, and Baidu gained 2.95%.
US Stocks Snapshot:
- Dow Jones: +144.20 pts (+0.31%) → 46,734.61
- Nasdaq: +201.40 pts (+0.89%) → 22,941.80
- S&P 500: +39.03 pts (+0.58%) → 6,738.43
Hong Kong Market
Hong Kong stocks followed Wall Street higher. Alibaba rose over 2%, Lenovo and Kuaishou gained over 1%, while Xiaomi slipped nearly 1%.
Semiconductor stocks led the advance, with Hua Hong Semiconductor soaring 11%, after the Communist Party’s Fourth Plenary Session (Oct 20–23) emphasized accelerating “high-level technological self-reliance and innovation.”
Apple-related shares also rallied. VSTECS Holdings climbed over 5% after reports that Apple plans to launch AI-powered smart glasses by 2026, featuring new in-house chips. Goldman Sachs also reiterated a bullish forecast for Apple ahead of its upcoming earnings report.
Market Snapshot:
- Hang Seng Index: +0.59% → 26,122.10
- Hang Seng Tech Index: +1.22% → 6,024.04
- China Enterprises Index: +0.46% → 9,343.35
A-Share Market
Mainland China markets opened higher, led by AI hardware, quantum technology, and semiconductors. By midday:
- Shanghai Composite: +0.42% → 3,938.98
- Shenzhen Component: +1.30% → 13,195.25
- ChiNext Index: +2.09% → 3,126.05
Turnover expanded to ¥1.239 trillion, up ¥181 billion from the previous session. Over 2,900 stocks rose, with storage chip and commercial space sectors leading gains, while coal and liquor names lagged.
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