Market Update
US stocks closed higher on Wednesday, led by strong gains in technology shares. Investors welcomed Nvidia’s highly anticipated earnings, hoping they would ease concerns about overheated AI valuations. Meanwhile, the latest Fed meeting minutes showed policymakers remain divided on whether to deliver a third consecutive rate cut.
Nvidia reported fiscal Q3 revenue and earnings well above Wall Street expectations, with Q4 guidance also beating forecasts. The company now expects Q4 revenue of about 65 billion dollars, far exceeding analyst projections.
US Stocks
Mega-cap tech stocks mostly gained. Nvidia rose 2.85 percent, Microsoft fell 1.35 percent, Apple rose 0.42 percent, Alphabet climbed 3 percent, Amazon gained 0.06 percent, Meta fell 1.23 percent, Tesla rose 0.70 percent, Broadcom surged 4.09 percent, and Oracle gained 2.29 percent.
Most Chinese ADRs declined. The Nasdaq Golden Dragon China Index fell 1.54 percent. Alibaba slid 0.52 percent, JD.com fell 1.95 percent, Pinduoduo dropped 1.30 percent, Nio fell 3.85 percent, XPeng lost 6.41 percent, Li Auto fell 3.27 percent, Bilibili lost 3.43 percent, Baidu dropped 1.43 percent, while Tencent Music rose 0.16 percent.
Market Snapshot
- Dow Jones +47.03 points, +0.10 percent, at 46,138.77
- Nasdaq +131.38 points, +0.59 percent, at 22,564.23
- S&P 500 +24.86 points, +0.38 percent, at 6,642.18
Hong Kong Stocks
Hong Kong equities traded mixed. Among tech names, Baidu gained over 2 percent, Lenovo and Kuaishou rose over 1 percent, while Xiaomi and NetEase fell more than 3 percent.
Property developers rallied, with Sunac China surging over 10 percent after analysts signaled support for high-quality housing initiatives ahead of major policy events.
Banking stocks also strengthened, led by Minsheng Bank’s 3 percent gain. Analysts expect earlier mid-term dividend payouts to attract yield-focused capital and support valuation recovery.
Market Snapshot
- Hang Seng Index +0.14 percent, at 25,867.63
- Hang Seng Tech Index –1.01 percent, at 5,550.45
- HSCEI –0.09 percent, at 9,142.96
A50 & Mainland China Markets
Mainland A-shares were mixed at midday.
The Shanghai Composite rose 0.38 percent, the Shenzhen Component slipped 0.05 percent, and the ChiNext dropped 0.52 percent.
Sector performance was also mixed, with strength in Hainan, banking, and lithium names, while shipbuilding and tourism-related stocks weakened.
Market Snapshot
- Shanghai Composite +0.38 percent, at 3,961.71
- Shenzhen Component –0.05 percent, at 13,073.30
- ChiNext –0.52 percent, at 3,060.93
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