PLTY

Chipmakers crashed on Friday, led by Intel's record drop, but a smaller fall lifted Apple past Nvidia as the world's most valuable company before its results tonight. At home, the STI is sliding this morning as the banks lead losses. Let's dig in 👇

💬 Apple is winning by spending less on AI. Buy before its results, or wait for the chipmakers to report?

📊 Quick Recap — What Moved & Why

🇺🇸 US — Apple Back on Top

🔑 Key Event: $Apple(AAPL.US) closed -1.23% but overtook $NVIDIA(NVDA.US), down -4.22%, as the world's most valuable company at about $5 trillion. It reports tonight, at 5am Tuesday SGT, having spent far less on AI.

👀 Other to Watch

• $Dow Jones Industrial Average(.DJI.US) -1.09%, $S&P 500(.SPX.US) -1.82%, $NASDAQ Composite Index(.IXIC.US) -2.86%, ending its worst month in a year.
• Chips → $Intel(INTC.US) -28.58%, its worst day on record, and $AMD(AMD.US) -10.88% as chips lost about $1 trillion.
• Crypto → $Coinbase(COIN.US) -10.62% and $Strategy(MSTR.US) -7.84% after a record $6.3 billion hack at Binance.
• Midterms → Americans vote on Tuesday, with Democrats widely favoured to retake the House; AI regulation and data-centre policy are at stake.
• $Eli Lilly(LLY.US) → +3.19% to a second straight record close, defying the selloff.

@NewUser_oPJWOU : I'm looking forward to Apple and Palantir earnings, hoping for positive news after major tech misses.

@WH the rooster : I continue to hold Intel and buy in tranches, believing in its long-term turnaround.

@dhighstakes : Be patient while hyperscalers complete their capex cycle. The future is chips.

🇸🇬 Singapore — The Haven Cracks

🔑 Key Event: The $FTSE Straits Times Index(STI.SG) is down about -1.3% near 5,305 this morning after Friday's -0.36% close at 5,376.74, $OCBC Bank(O39.SG) fell as much as 3.9% after its insurer Great Eastern's profit dropped 72%.

👀 Other to Watch

• Banks → $DBS(D05.SG) reports third-quarter results on 5 Nov, with $UOB(U11.SG) and OCBC following on 6 Nov.
• Chips → $AEM SGD(AWX.SG) -8.59% and $UMS(558.SG) -7.80% on Friday as the US chip rout spread.
• $Grab(GRAB.US) → -1.81% on Friday as tech slid; it reports alongside Apple tonight.
• Plantations → $Wilmar(F34.SG) -3.22% on Friday as haze scrutiny grew, then admitted ties to six NEA-named firms.

@PSChua : The AI story is intact, so it's time to deploy some dry powder into Singapore chip stocks.

🇭🇰 HK/China — Asia's Lone Gainer

🔑 Key Event: The $Hang Seng Index(00HSI.HK) is up about +0.2% near 23,350 this morning, Asia's only gainer, after Friday's +1.46% close at 23,294.42. $BABA-W(09988.HK) is up about 1%, with Qwen joining Apple Intelligence in China.

🌎 Other to Watch

• 🛢️ Oil → Brent eased this morning as Iran talks continue, after hitting a six-month high on Friday on Hormuz attacks.
• 🪙 Gold → broke below $4,000 to a one-year low, falling even as oil rose, an unusual split between havens.

@Fattycat : Gold broke the US$4,000 support, triggering stop-loss selling down to US$3,875.

📅 Upcoming Key Events

👇 Drop your take (20+ words) & click "Repost" to earn 288 Task Coins ✨
🚫 No duplicates · ⏰ Deadline: Nov 2, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏