【HEADLINES】
1. US stocks rose across the board on Wednesday (21st), with tech stocks driving the market's gains. SpaceX (US.SPCX) surged nearly 8% after releasing quarterly earnings, boosting Tesla (US.TSLA) and multiple AI-related stocks. The Nasdaq rose over 1%, outperforming the Dow and S&P. The Dow closed up 360.21 points, or 0.69%, at 52,856.09; the S&P gained 44.65 points, or 0.58%, to 7,757.17; the Nasdaq rose 278.04 points, or 1.05%, to 26,702.86. The Nikkei opened at 64,378, down 243 points.
2. Saudi Aramco's Shaybah oilfield in Saudi Arabia's Eastern Province was attacked by drones on Wednesday, killing two people. Reports indicate Iran has threatened that if further attacks causing deaths of Iranian officials and civilians occur, Tehran will consider targeting US political objectives. Meanwhile, the US State Department has ordered non-essential diplomatic personnel and their families to evacuate Saudi Arabia.
3. Russian President Putin met on Wednesday in St. Petersburg with Trump envoy Witkoff to discuss energy supplies and restoring bilateral economic cooperation. Russian Deputy Prime Minister Novak stated that the first oil tanker carrying 40,000 tons of diesel is scheduled to depart for the US on Thursday (22nd), with subsequent shipments to follow.
4. Chinese Premier Li Qiang held meetings with Russian President Putin and Prime Minister Mishustin, agreeing to advance cooperation in AI, energy, trade, and finance. A top foreign policy aide at the Kremlin revealed that Beijing has begun preparations for the upcoming first summit among the leaders of China, the US, and Russia next month.
5. China and the EU pledged to deepen cooperation on competition policy and antitrust enforcement. The German Chancellor said the EU hopes to avoid a trade war with China but will take defensive measures in response to China's new, more aggressive approaches.
6. US electric vehicle maker Tesla (US.TSLA) reported third-quarter operating revenue of $28.05 billion, flat year-on-year and slightly below market expectations of $28.13 billion. EV revenue was $20.56 billion, down 3% year-on-year but better than the market estimate of $19.83 billion.
7. Meta (US.META) raised its full-year capital expenditure forecast to $135–145 billion and plans to issue a new class of stock, expected to begin trading in January. Additionally, a court in New Mexico, US, ordered Meta on Wednesday to pay $25 billion in civil penalties for misleading the public on user privacy and personal data handling. Meta stated it disagrees with the ruling and plans to appeal.
8. Nvidia (US.NVDA) announced it will collaborate with supply chain partners Ibiden, Samsung Electro-Mechanics, and Unimicron to increase substrate production capacity for its products to 2.5 times the current level over the next three years, to meet growing demand for AI infrastructure.
9. E-commerce platform eBay (US.EBAY) will cut about 9% of its workforce, affecting approximately 1,100 employees, to streamline operations and focus resources on its fastest-growing businesses. The company previously cut about 800 employees in February, equivalent to around 6% of its workforce at the time.
10. China's State Administration for Market Regulation urged e-commerce platforms to improve product and service quality, noting safety risks in live-streaming e-commerce, and required companies to strengthen platform accountability and continuously enhance product and service quality on online platforms.
【STOCK WATCH】
E-commerce stocks: Alibaba (09988), JD.com (09618)
- Ahead of Singles' Day, China's market regulator urges e-commerce platforms to enhance product and service quality, citing safety risks in live-streaming e-commerce
- Alibaba ADR fell 3.87% overnight
Lenovo Group (00992)
- Reportedly seeking a $2 billion loan to refinance debt at lower costs
Sands China Limited (01928)
- Adjusted property EBITDA fell 12% in Q3, net revenue dropped 30%, total gaming revenue rose 1.4%
Pop Mart (09992)
- Prominent Chinese investor Duan Yongping said he will buy more Pop Mart shares, though holding less than 10%
Tesla-related stocks: BYD (01211), CATL (03750)
- Tesla's capital expenditure last quarter fell far short of expectations and it lowered its full-year spending target, shares dropped over 3% after hours
Boke (00325)
- Amid the deadline for offshore trust personal income tax filing and top-up payments in mainland China, company's controlling shareholder Zhu Weisong sold down shares worth approximately RMB 251 million
China Life (02628)
- Plans to sell pension insurance company shares to its controlling shareholder for RMB 4.6 billion, expecting a gain of RMB 2.6 billion
Andeju Juice (02218)
- Net profit for the first nine months fell 39% to RMB 170 million, impacted by declining volume and prices of concentrated juice
JunDa Shares (02865)
- First nine months loss widened to RMB 430 million, operating revenue fell 8%
【OIL & GOLD PRICES】
NYMEX crude rose 0.85%, at $97.96/barrel
Brent crude rose 1.07%, at $109.98/barrel
Spot gold fell 0.46%, at $4,121.18/oz
Gold futures fell 0.26%, at $4,138.97/oz
1. US stocks rose across the board on Wednesday (21st), with tech stocks driving the market's gains. SpaceX (US.SPCX) surged nearly 8% after releasing quarterly earnings, boosting Tesla (US.TSLA) and multiple AI-related stocks. The Nasdaq rose over 1%, outperforming the Dow and S&P. The Dow closed up 360.21 points, or 0.69%, at 52,856.09; the S&P gained 44.65 points, or 0.58%, to 7,757.17; the Nasdaq rose 278.04 points, or 1.05%, to 26,702.86. The Nikkei opened at 64,378, down 243 points.
2. Saudi Aramco's Shaybah oilfield in Saudi Arabia's Eastern Province was attacked by drones on Wednesday, killing two people. Reports indicate Iran has threatened that if further attacks causing deaths of Iranian officials and civilians occur, Tehran will consider targeting US political objectives. Meanwhile, the US State Department has ordered non-essential diplomatic personnel and their families to evacuate Saudi Arabia.
3. Russian President Putin met on Wednesday in St. Petersburg with Trump envoy Witkoff to discuss energy supplies and restoring bilateral economic cooperation. Russian Deputy Prime Minister Novak stated that the first oil tanker carrying 40,000 tons of diesel is scheduled to depart for the US on Thursday (22nd), with subsequent shipments to follow.
4. Chinese Premier Li Qiang held meetings with Russian President Putin and Prime Minister Mishustin, agreeing to advance cooperation in AI, energy, trade, and finance. A top foreign policy aide at the Kremlin revealed that Beijing has begun preparations for the upcoming first summit among the leaders of China, the US, and Russia next month.
5. China and the EU pledged to deepen cooperation on competition policy and antitrust enforcement. The German Chancellor said the EU hopes to avoid a trade war with China but will take defensive measures in response to China's new, more aggressive approaches.
6. US electric vehicle maker Tesla (US.TSLA) reported third-quarter operating revenue of $28.05 billion, flat year-on-year and slightly below market expectations of $28.13 billion. EV revenue was $20.56 billion, down 3% year-on-year but better than the market estimate of $19.83 billion.
7. Meta (US.META) raised its full-year capital expenditure forecast to $135–145 billion and plans to issue a new class of stock, expected to begin trading in January. Additionally, a court in New Mexico, US, ordered Meta on Wednesday to pay $25 billion in civil penalties for misleading the public on user privacy and personal data handling. Meta stated it disagrees with the ruling and plans to appeal.
8. Nvidia (US.NVDA) announced it will collaborate with supply chain partners Ibiden, Samsung Electro-Mechanics, and Unimicron to increase substrate production capacity for its products to 2.5 times the current level over the next three years, to meet growing demand for AI infrastructure.
9. E-commerce platform eBay (US.EBAY) will cut about 9% of its workforce, affecting approximately 1,100 employees, to streamline operations and focus resources on its fastest-growing businesses. The company previously cut about 800 employees in February, equivalent to around 6% of its workforce at the time.
10. China's State Administration for Market Regulation urged e-commerce platforms to improve product and service quality, noting safety risks in live-streaming e-commerce, and required companies to strengthen platform accountability and continuously enhance product and service quality on online platforms.
【STOCK WATCH】
E-commerce stocks: Alibaba (09988), JD.com (09618)
- Ahead of Singles' Day, China's market regulator urges e-commerce platforms to enhance product and service quality, citing safety risks in live-streaming e-commerce
- Alibaba ADR fell 3.87% overnight
Lenovo Group (00992)
- Reportedly seeking a $2 billion loan to refinance debt at lower costs
Sands China Limited (01928)
- Adjusted property EBITDA fell 12% in Q3, net revenue dropped 30%, total gaming revenue rose 1.4%
Pop Mart (09992)
- Prominent Chinese investor Duan Yongping said he will buy more Pop Mart shares, though holding less than 10%
Tesla-related stocks: BYD (01211), CATL (03750)
- Tesla's capital expenditure last quarter fell far short of expectations and it lowered its full-year spending target, shares dropped over 3% after hours
Boke (00325)
- Amid the deadline for offshore trust personal income tax filing and top-up payments in mainland China, company's controlling shareholder Zhu Weisong sold down shares worth approximately RMB 251 million
China Life (02628)
- Plans to sell pension insurance company shares to its controlling shareholder for RMB 4.6 billion, expecting a gain of RMB 2.6 billion
Andeju Juice (02218)
- Net profit for the first nine months fell 39% to RMB 170 million, impacted by declining volume and prices of concentrated juice
JunDa Shares (02865)
- First nine months loss widened to RMB 430 million, operating revenue fell 8%
【OIL & GOLD PRICES】
NYMEX crude rose 0.85%, at $97.96/barrel
Brent crude rose 1.07%, at $109.98/barrel
Spot gold fell 0.46%, at $4,121.18/oz
Gold futures fell 0.26%, at $4,138.97/oz