【Investment Morning Brief | 11/4】

U.S. stocks were mixed last night: the Nasdaq ended a three-day losing streak, gaining about 0.83%, while the Philadelphia Semiconductor Index rose about 2.6% as chip and AI stocks rebounded. The Dow edged lower, and Apple fell about 2%. For A-shares at the open, sentiment toward tech has eased slightly, but overall risk appetite has not broadly recovered. First, watch whether semiconductors and computing hardware follow through. Consumer and dividend stocks held up relatively well yesterday. Today, watch whether U.S. tech stocks maintain their gains after the election results come in, and whether the ChiNext and STAR Market indexes can follow the overnight chip rebound.

U.S. stocks last night (Nov. 3 ET): S&P 500 7568.92 (+0.36%), Nasdaq 25372.01 (+0.83%, ending a three-day losing streak), Dow 51786.72 (−0.38%). Chip and AI stocks rebounded, with Nvidia, AMD, Broadcom, Micron and others mostly gaining more than 2%; the Philadelphia Semiconductor Index rose about 2.6%. Apple fell about 2% amid pressure from its gross margin guidance and memory costs. Midterm election results are still pending, and markets are concerned that a Democratic sweep could heighten expectations for AI regulation. WTI was around 96.09 and Brent around 103.60. Hopes for Iran peace talks are growing, but supply disruptions persist.

A-shares, previous trading day (11/3). Shanghai Composite 3608.10 (−0.82%), with 3600 in focus in the short term. Shenzhen Component 10876.99 (−1.21%). ChiNext Index 2391.65 (−2.73%), breaking below 2400. STAR 50 Index at 1151.28 (−3.81%). Turnover was about 1.70 trillion, down by around 80 billion; insurance, livestock farming, and some consumer stocks were relatively strong, while semiconductors and computing hardware led the declines. 5-day/20-day moving averages are temporarily unavailable due to data limits.

Market-moving events to watch

• Whether U.S. tech stocks extend their gains after the election outcome

• Whether ChiNext/STAR can follow the overnight chip rebound

• Whether ChiNext holds above 2400

• Whether the Shanghai Composite holds above 3600

Data from contributors and public market quotes. Not investment advice.