【TOP NEWS】
1. U.S. stocks rose on Monday (5th), with all three major indices gaining. The Nasdaq hit new intraday and closing highs, while the S&P 500 approached its historical peak. Market sentiment was boosted by optimism over corporate mergers and acquisitions and strong investor appetite for AI-related tech stocks, despite U.S. Treasury yields remaining near multi-year highs and persistent pressures from high oil prices and inflation, which limited gains. The Dow Jones closed up 90.94 points, or 0.18%, at 51,267.9; the S&P 500 rose 51.23 points, or 0.66%, to 7,773.95; the Nasdaq gained 286.45 points, or 1.05%, closing at 27,477.31, with an intraday high of 27,544.07, setting new records for both intraday and closing levels. The China Golden Dragon Index rose by 94 points. The Nikkei opened at 70,073, up 127 points.
2. Yemen claims to have regained control of the Red Sea city of Mocha from Houthi forces. Saudi Aramco stated that global oil inventories held to buffer supply shocks are "alarmingly low," and market conditions could worsen further if the Strait of Hormuz remains closed.
3. The Trump administration plans to loosen restrictions on the use of federally tax-exempt "dyed red diesel," aiming to increase diesel supply and reduce fuel costs. Reuters cited two sources confirming the plan, while Bloomberg reported the government is preparing to announce the arrangements.
4. The U.S. Institute for Supply Management (ISM) reported that the September Non-Manufacturing Purchasing Managers' Index (PMI) fell to 54.9, down from 55.4 in August and slightly below market expectations of around 55 to 55.2. A reading above 50 indicates continued expansion in U.S. service sector activity, though the pace of growth has slowed.
5. TSMC (US.TSM) ADR rose 3%, hitting another record high, briefly reaching around $487.47 intraday, with its market value rising to approximately $2.5 trillion. Market focus is on potential collaboration between TSMC and Musk's Terafab. Reports indicate TSMC is evaluating participation in Terafab's wafer fabrication plant project in Texas, which could involve building, owning, and operating the facility, or involve investment and chip purchase commitments from SpaceX (US.SPCX) or Terafab.
6. The euro fell to a 17-month low on Monday, dragged down by rising fiscal and political uncertainty in France and Spain's surprise announcement of early elections. The euro briefly dropped 0.8% to $1.1161 against the dollar, its lowest since May 2025, before slightly narrowing losses. Pressure on French markets continued, with the yield spread between 10-year French and German government bonds widening to 152 basis points on Friday, the highest since the 2011 eurozone debt crisis.
7. Germany and France are reportedly urging the EU to adopt new powers enabling it to cut off access to the EU single market when China or other countries disrupt trade relations.
8. TechCrunch, citing sources, reported that SI chip startup Etched is conducting a new fundraising round, with its current valuation rising to between $40 billion and $50 billion—double its $21 billion valuation just months ago.
9. OKX, in partnership with Intercontinental Exchange (US.ICE), the parent company of the New York Stock Exchange (NYSE), has formed a joint venture called OKXICE. It has filed documents with the U.S. Securities and Exchange Commission (SEC) to launch a tokenized securities trading platform offering 24/7, seven-day trading of U.S. equities.
10. A Citi research report noted weak initial travel spending data during China's National Day "Golden Week" holiday and expects no substantive consumer stimulus measures in the fourth quarter this year.
11. IFR, citing sources, reported that Transsion Holdings, known as the "African phone king," may start bookbuilding for its Hong Kong listing as early as Wednesday, aiming to raise $400 million to $500 million.
12. During the mainland's National Day holiday, A-shares remain closed today, and Stock Connect trading remains suspended.
【STOCK WATCH】
Travel stocks: Ctrip Group (09961), Tongcheng Travel (00780)
- Citi says initial Golden Week travel spending data is weak; no substantive consumer stimulus measures expected in Q4
CSPC Pharmaceutical Group (01093)
- Presented 8 clinical trial updates at the European Society for Medical Oncology Congress, with 2 selected as breakthrough abstracts
Tech & Internet stocks: Alibaba (09988), Tencent (00700), Zhipu (02513)
- U.S. 10-year Treasury yield rose 6.59 basis points to 5.343%, briefly touching 5.3493%, a new high since 2002
The 'Three Oil Giants': PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Saudi Aramco CEO warns global oil inventories are alarmingly low; it could take up to two years to rebuild stocks even after conflicts end
CK Hutchison (00001)
- CK Hutchison and Li family, as the single largest shareholder of Canadian energy firm Crescent Energy, reached a definitive acquisition agreement with Athabasca Oil Corporation. The total enterprise value of the transaction is approximately $5.7 billion, to be paid in cash and stock, with closing expected in December
Kingboard Laminate (01888)
- Acquired 1.6 million shares by Kingboard Holdings (00148), involving about HK$77.59 million
Ganfeng Lithium (01772)
- Ganfeng Lithium plans to expand operations in Chile, potentially investing in energy projects or lithium recycling
Hon Ten Precision (06088), FIH Mobile (02038)
- Foxconn's September consolidated revenue surpassed the NT$1 trillion mark for the first time, rising 38.42% year-on-year, a record high for any single month
Lianyang Intelligent (01561)
- Plans 10-for-1 share consolidation and two individuals to purchase over 66% stake with memorandum, resuming trading this morning
Maoyan Entertainment (01896)
- Plans to repurchase shares with no more than RMB 250 million
【OIL & GOLD PRICES】
NYMEX crude oil down 0.19%, at $89.26/barrel
Brent crude oil unchanged, at $100.32/barrel
Spot gold down 0.14%, at $4,134.46/ounce
Gold futures up 0.11%, at $4,161.45/ounce
1. U.S. stocks rose on Monday (5th), with all three major indices gaining. The Nasdaq hit new intraday and closing highs, while the S&P 500 approached its historical peak. Market sentiment was boosted by optimism over corporate mergers and acquisitions and strong investor appetite for AI-related tech stocks, despite U.S. Treasury yields remaining near multi-year highs and persistent pressures from high oil prices and inflation, which limited gains. The Dow Jones closed up 90.94 points, or 0.18%, at 51,267.9; the S&P 500 rose 51.23 points, or 0.66%, to 7,773.95; the Nasdaq gained 286.45 points, or 1.05%, closing at 27,477.31, with an intraday high of 27,544.07, setting new records for both intraday and closing levels. The China Golden Dragon Index rose by 94 points. The Nikkei opened at 70,073, up 127 points.
2. Yemen claims to have regained control of the Red Sea city of Mocha from Houthi forces. Saudi Aramco stated that global oil inventories held to buffer supply shocks are "alarmingly low," and market conditions could worsen further if the Strait of Hormuz remains closed.
3. The Trump administration plans to loosen restrictions on the use of federally tax-exempt "dyed red diesel," aiming to increase diesel supply and reduce fuel costs. Reuters cited two sources confirming the plan, while Bloomberg reported the government is preparing to announce the arrangements.
4. The U.S. Institute for Supply Management (ISM) reported that the September Non-Manufacturing Purchasing Managers' Index (PMI) fell to 54.9, down from 55.4 in August and slightly below market expectations of around 55 to 55.2. A reading above 50 indicates continued expansion in U.S. service sector activity, though the pace of growth has slowed.
5. TSMC (US.TSM) ADR rose 3%, hitting another record high, briefly reaching around $487.47 intraday, with its market value rising to approximately $2.5 trillion. Market focus is on potential collaboration between TSMC and Musk's Terafab. Reports indicate TSMC is evaluating participation in Terafab's wafer fabrication plant project in Texas, which could involve building, owning, and operating the facility, or involve investment and chip purchase commitments from SpaceX (US.SPCX) or Terafab.
6. The euro fell to a 17-month low on Monday, dragged down by rising fiscal and political uncertainty in France and Spain's surprise announcement of early elections. The euro briefly dropped 0.8% to $1.1161 against the dollar, its lowest since May 2025, before slightly narrowing losses. Pressure on French markets continued, with the yield spread between 10-year French and German government bonds widening to 152 basis points on Friday, the highest since the 2011 eurozone debt crisis.
7. Germany and France are reportedly urging the EU to adopt new powers enabling it to cut off access to the EU single market when China or other countries disrupt trade relations.
8. TechCrunch, citing sources, reported that SI chip startup Etched is conducting a new fundraising round, with its current valuation rising to between $40 billion and $50 billion—double its $21 billion valuation just months ago.
9. OKX, in partnership with Intercontinental Exchange (US.ICE), the parent company of the New York Stock Exchange (NYSE), has formed a joint venture called OKXICE. It has filed documents with the U.S. Securities and Exchange Commission (SEC) to launch a tokenized securities trading platform offering 24/7, seven-day trading of U.S. equities.
10. A Citi research report noted weak initial travel spending data during China's National Day "Golden Week" holiday and expects no substantive consumer stimulus measures in the fourth quarter this year.
11. IFR, citing sources, reported that Transsion Holdings, known as the "African phone king," may start bookbuilding for its Hong Kong listing as early as Wednesday, aiming to raise $400 million to $500 million.
12. During the mainland's National Day holiday, A-shares remain closed today, and Stock Connect trading remains suspended.
【STOCK WATCH】
Travel stocks: Ctrip Group (09961), Tongcheng Travel (00780)
- Citi says initial Golden Week travel spending data is weak; no substantive consumer stimulus measures expected in Q4
CSPC Pharmaceutical Group (01093)
- Presented 8 clinical trial updates at the European Society for Medical Oncology Congress, with 2 selected as breakthrough abstracts
Tech & Internet stocks: Alibaba (09988), Tencent (00700), Zhipu (02513)
- U.S. 10-year Treasury yield rose 6.59 basis points to 5.343%, briefly touching 5.3493%, a new high since 2002
The 'Three Oil Giants': PetroChina (00857), CNOOC (00883), Sinopec (00386)
- Saudi Aramco CEO warns global oil inventories are alarmingly low; it could take up to two years to rebuild stocks even after conflicts end
CK Hutchison (00001)
- CK Hutchison and Li family, as the single largest shareholder of Canadian energy firm Crescent Energy, reached a definitive acquisition agreement with Athabasca Oil Corporation. The total enterprise value of the transaction is approximately $5.7 billion, to be paid in cash and stock, with closing expected in December
Kingboard Laminate (01888)
- Acquired 1.6 million shares by Kingboard Holdings (00148), involving about HK$77.59 million
Ganfeng Lithium (01772)
- Ganfeng Lithium plans to expand operations in Chile, potentially investing in energy projects or lithium recycling
Hon Ten Precision (06088), FIH Mobile (02038)
- Foxconn's September consolidated revenue surpassed the NT$1 trillion mark for the first time, rising 38.42% year-on-year, a record high for any single month
Lianyang Intelligent (01561)
- Plans 10-for-1 share consolidation and two individuals to purchase over 66% stake with memorandum, resuming trading this morning
Maoyan Entertainment (01896)
- Plans to repurchase shares with no more than RMB 250 million
【OIL & GOLD PRICES】
NYMEX crude oil down 0.19%, at $89.26/barrel
Brent crude oil unchanged, at $100.32/barrel
Spot gold down 0.14%, at $4,134.46/ounce
Gold futures up 0.11%, at $4,161.45/ounce
