TENCENT

Singapore market closed today, holiday. Boring 🤭.

Anyway, i am happy to see that Hang Seng Index is bouncing back this morning boosted by an overnight US market recovery. AI and tech stocks including Tencent and Xiaomi are seeing positive momentum☺️☺️

Furthermore, China’s mixed inflation data keeps hopes for further policy support alive. Now the investors are shifting their focus to quarterly earnings to confirm actual profitability. Names like Alibaba are worth watching ahead of their upcoming results.

Breaking: Michael Burry was right about Oracle

$Oracle(ORCL.US)

Context: Oracle has cancelled a $7 billion agreement to lease advanced AI chips to Chinese technology giant Tencent, following pressure from the Trump administration. The move shows the growing legal hurdles for U.S. cloud providers working with Chinese AI companies. Oracle had signed a five-year agreement with Tencent to provide access to as many as 100,000 advanced AI chips across multiple data centers in Southeast Asia. The cancellation removes a potential source of revenue for Oracle's cloud infrastructure business. However, the financial impact is unclear, as the company has not disclosed the expected revenue or profit from the agreement. U.S. officials reportedly approached Oracle to raise concerns about the agreement. Separately, senior officials in Guangdong, where Tencent is headquartered, reportedly urged the company to support domestic Chinese chipmakers. The agreement has since been cancelled.

My Trade: Oracle continues to struggle and seem to even have trouble staying ahead of the resistance level. My position is small, so if it does drop more, I might look to add.

Takeaway: The deal would have been Tencent's largest overseas chip-leasing agreement, giving it access to advanced processors unavailable for use in China because of U.S. and Chinese restrictions. @Captain's Treasure

📌🇺🇸🇸🇬 last session beat up sg beat down, later just merely watch and no action is really needed this stage ! As said up and down they simply take turn!

Democrat flipped and won both House and Senate, uncertainty over mid term election is over. market seems recovering but is it a dead cat bounce? going forward democrats has many things to do to scrutinise DT's govt and power. more uncertainty ahead?

I think SG market will dip further as the Banks dips after Q3 earnings.

Once the midterm elections are done and dusted, that will remove the uncertainty that makes markets edgy. IMO, the results have been priced in and hence why Tech has been selling off. Now there’s clarity, market should stabilise.

The market is so on the edge, it was up during regular session and then down in 24H trading as midterm election results filtered through. And now they are recovering.

Pure market volatility. One day is up and one day is down. Don't think it is worth digesting the reasons behind it. Long term investors should just continue to dca.