Daily Market Briefing · Hot Topics Focus (Morning Report 26/11/10)

November 10, 2026 (Tuesday) | HK Stocks / US Stocks | Data as of 09:00 HKT

01 Dow surges 1,104 points; S&P hits best day since April

Macro Policy · Reuters · Updated 07:10

US stocks staged a strong rebound on Monday. The Dow Jones Industrial Average jumped 1,104.02 points (+2.15%) to close at 52,389.75, marking its largest single-day gain in seven months. The S&P 500 rose 2.35% to 7,549.94, posting its best daily performance since April 8. The Nasdaq gained 2.74% to 25,253.14, its strongest showing since July 30. Richmond Fed President Barkin stated that robust demand and sticky inflation imply rates still need further hikes, but "proceeding cautiously is prudent." CME data shows the probability of a December rate hike remains above 80%, with October CPI due Tuesday.

▍Related Tickers:S&P 500 ETF (SPY) $752.69 +2.37%

02 Trump downplays military action vs Iran; Brent crude plunges 5.85%

Notable Quotes · Reuters · Updated 07:25

US President Trump stated that the US is "highly unlikely" to resume large-scale military strikes on Iran as long as negotiations make progress. He revealed that Qatar, Saudi Arabia, UAE, Bahrain, and Kuwait favor maintaining the status quo, continuing maritime blockades and Operation Iron Door. Hansen, Head of Commodities Strategy at Saxo Bank, noted that market expectations for a US-Iran peace deal are driving oil prices lower. Brent crude fell 5.85% to $92.57/barrel, while WTI dropped 4.38% to $86.85. The pullback in oil prices eases inflation concerns, serving as a key driver for the US stock rebound.

▍Related Tickers:Crude Oil ETF (USO) $142.66 -3.87%

03 Chips stage revenge rally; SOX surges 6.85%

Tech Sector · Bloomberg · Updated 06:45

Chip stocks rallied across the board on Monday after last week's heavy sell-off. The Philadelphia Semiconductor Index surged ~6.85%, recovering part of the >12% loss from last week. AMD rose 13.26%, Applied Materials gained 11.37%, Lam Research climbed over 10%, and Broadcom neared 9%. Optical communications were even stronger, with Coherent up 16.79% and Lumentum up 10.69%. In storage, Western Digital and Seagate rose over 9%, while Micron gained 6.25%. Both Morgan Stanley and UBS believe the AI stock sell-off was excessive; even with Democrats controlling Congress, the risk of extreme regulation on data center construction remains low.

▍Related Tickers:Advanced Micro Devices (AMD) $508.58 +13.26%

04 Jensen Huang admits to extramarital affair; Nvidia board launches investigation

Notable Quotes · Bloomberg · Updated 05:30

Nvidia's board announced an independent investigation, led by independent directors with external legal counsel, into reports alleging CEO Jensen Huang was targeted by foreign intelligence operations. Previously, WSJ and NYT reported Huang had a close relationship with a Chinese national who formerly managed a Singapore data center firm, Megaspeed. Huang sent an email to all employees admitting infidelity and apologizing, stating "there is no excuse for my actions," and withdrew from two scheduled tech events this week. His daughter also canceled her trip to Seoul for AI Day. Nvidia fell 4.27% against the market trend on Monday, wiping out over $190 billion in market cap, ahead of quarterly earnings on Thursday.

▍Related Tickers:NVIDIA (NVDA) $178.67 -4.27%

05 Hang Seng turns negative late; funds rotate from tech to coal & pharma

HK Market Focus · South China Morning Post · Updated 08:20

HK stocks opened higher on Monday but gains narrowed gradually, with major indices turning green in the afternoon. The Hang Seng Index closed down 32.91 points (-0.13%) at 24,448.95. The H-Share Index fell 0.17%, and the Hang Seng Tech Index dropped 0.92% to 4,040.73, with turnover shrinking to HK$173.7 billion. Sector rotation shifted from AI hardware to cyclicals and innovative pharma: Qinhuangdao port thermal coal prices rebounded to ¥1,013/ton, boosting China Shenhua +2.39% and Yankuang Energy +6.34%; WuXi Biologics rose 2.73% after Citigroup added it to its catalyst watchlist. Meanwhile, Meituan plunged 6.53%, weighing on the broader market, while lithium carbonate futures broke below ¥90,000, dragging Ganfeng Lithane down 4.07%.

▍Related Tickers:China Shenhua (01088.HK) HK$43.680 +2.39%

Sources: Reuters, Bloomberg, South China Morning Post and other public reports; market data as of the close of US and HK markets on November 9, 2026.

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