TREE NEWS update: TSMC has acquired AU Optronics’ Taichung plant and related facilities for approximately $1.2 billion. The deal covers the Taichung factory and associated infrastructure, marking a direct transfer of industrial assets between the two Taiwanese companies. No further terms of the transaction were disclosed.
TREE NEWS update: The Federal Reserve voted 10-2 on Oct. 28 to keep the fed funds target range at 3.75%-4.00%, with two dissenters favoring a 25-basis-point hike, and said inflation remains elevated. U.S. stocks closed higher for a third straight session, with the S&P 500 up 0.28% at 7743.98, the Dow up 0.19% at 52475.10 and the Nasdaq up about 0.27% at 26549.85. After the bell, Microsoft rose over 3% on Azure growth and $18.6 billion in free cash flow, while Alphabet fell nearly 10% on weaker search ad growth and negative free cash flow of about $9.07 billion.
TREE NEWS reports: Volkswagen reported third-quarter revenue of €75.28 billion, missing the €78.19 billion estimate. The automaker posted an operating loss of €5.86 billion for the quarter, wider than the expected €5.67 billion loss.
TREE NEWS reports: China’s ChiNext Index dropped more than 4% on the day, while the Shanghai Composite fell 0.85% and the Shenzhen Component lost 2.72%. Computing hardware, semiconductor chips, consumer electronics and software development led the declines, with more than 4,700 stocks falling across the Shanghai, Shenzhen and Beijing markets.
TREE NEWS reports: Japan’s Nikkei 225 closed up 1.1% at 64,659.47, while the broader Topix gained 0.3% to 4,003.28. South Korea’s Kospi fell 1.2% to 5,937.66, leaving the region’s two main markets moving in opposite directions.
TREE NEWS update: Huawei Investment Holding Co. increased its registered capital from about 63.89 billion yuan to about 69.39 billion yuan on Oct. 27. The company, founded in March 2003 with Zhao Minglu as legal representative, is jointly owned by its trade union committee and Ren Zhengfei, and covers research, development and sales of high-tech products.
TREE NEWS reports: AB InBev reported third-quarter organic volume growth of 0.4%, falling short of the 0.5% growth expected. The figure, released as part of the brewer’s quarterly update, marks a slight miss against consensus. No further details were disclosed in the initial release.
TREE NEWS reports: STMicroelectronics reported third-quarter revenue of $3.76 billion, topping the $3.72 billion market estimate. Operating profit came in at $367 million versus a $351.7 million forecast, while net profit of $291 million and earnings per share of $0.31 fell short of estimates of $326.9 million and $0.37. The chipmaker guided fourth-quarter revenue to $4.15 billion, above the $4.11 billion consensus, with a projected gross margin of 39%.
TREE NEWS reports: Shares of Chinese A-share companies whose names contain the character ‘yang’ rallied in a sudden move, with Dongfang Ocean hitting the daily limit-up. Dadihaiyang, Xinbeiyang, Baiyang Co., Dayang Bio and Daxiyang all climbed sharply, the material said. No reason for the move was given.
TREE NEWS reports: BBVA reported third-quarter net profit of €3.02 billion, beating the €2.98 billion forecast. Net interest income came in at €8.08 billion versus an expected €7.77 billion, total revenue reached €10.91 billion against a €10.75 billion estimate, and operating profit was €6.75 billion, ahead of the €6.57 billion consensus.
TREE NEWS reports: China’s A-share brokerage sector weakened on Wednesday, with China International Capital Corporation (CICC) hitting the daily limit down in afternoon trading. Huaxin Co. and Caida Securities fell more than 5%, while Western Securities, Changjiang Securities and Shanxi Securities were among the biggest decliners.
TREE NEWS reports: Societe Generale reported third-quarter net profit of €1.89 billion, up 24% year on year and ahead of the €1.66 billion estimate. Operating income for the quarter reached €2.67 billion, up 20% and above the €2.48 billion forecast. Equity business revenue rose 46% to €1.20 billion, beating the €876 million estimate.
TREE NEWS reports: Dongshan Precision said its high-end optical modules and AI server PCBs are seeing strong demand as global AI compute infrastructure investment continues to rise, with downstream orders full and capacity utilization at high levels. Shipments of AI high-end optical modules are rising rapidly quarter by quarter, and 1.6T products entered volume shipment in the fourth quarter. The company also cited its in-house high-speed EML optical chip capability, saying the combined optical module and optical chip drivers are lifting the share of high-value-added products and significantly improving its profit structure.
TREE NEWS reports: Trading volume in three Chinese ETFs — E Fund ChiNext ETF (159915), ChinaAMC STAR 50 ETF (588000) and Huatai-PineBridge A500 ETF (563360) — rose collectively in the afternoon session. The three funds tracks the ChiNext Index, the STAR 50 Index and the CSI A500 Index respectively. No volume figures or turnover values were disclosed.
TREE NEWS reports: China’s ChiNext Index fell more than 3% and the STAR 50 Index dropped over 4% by midday, while the banking sector rose against the trend and the combined market capitalization of the four largest state-owned banks — ICBC, Agricultural Bank of China, Bank of China and China Construction Bank — surpassed 10 trillion yuan for the first time. Hong Kong’s Hang Seng Tech Index fell nearly 2% by midday, with AI large-model stocks opening lower and sliding, as Zhipu dropped more than 7% and MINIMAX fell over 5%.
TREE NEWS update: The European Central Bank announces its policy rates at 21:15 Beijing time, followed by President Christine Lagarde’s press conference at 21:45. Earlier, the US releases third-quarter GDP, September PCE and weekly jobless claims at 20:30, while the Bank of Ukraine sets rates at 20:00. Amazon, Intel, SanDisk and Strategy report after the US close.
TREE NEWS reports: Geely Automobile Holdings reported third-quarter net profit of 4.84 billion yuan, up 28% year on year, on revenue of 98.96 billion yuan, a 10% increase. For the first nine months, net profit reached 13.93 billion yuan, up 6.7%, while revenue rose 13% to 272.56 billion yuan and gross profit climbed 24% to 48.93 billion yuan.
TREE NEWS reports: Alphabet shares fell 9.97% in after-hours trading on Oct. 28 after the company reported third-quarter capital expenditures of $51.355 billion and negative free cash flow of $9.065 billion, with diluted EPS of $2.12 missing the $2.94 consensus. The 10-year Treasury yield rose to 5.05% the same day after the FOMC held rates at 3.75%-4.00% on a 10-2 vote, with Cook and Hammack dissenting in favor of a 25-basis-point hike.
TREE NEWS update: Chengdu Guoxing Aerospace Technology Co. updated its post-hearing information pack on the Hong Kong Stock Exchange on Oct. 29, clearing the exchange’s listing hearing. The filing moves the Chengdu-based satellite technology company a step closer to a Hong Kong initial public offering, though no listing date, offer size or pricing has been disclosed.
TREE NEWS reports: China’s ChiNext Index fell 3.63% at the midday close on Oct. 29, with the Shanghai Composite down 0.93% and the Shenzhen Component down 2.55%, as more than 4,700 stocks declined across the three exchanges. The banking sector bucked the trend, with Qingdao Bank up nearly 8% and the combined market capitalization of the ‘Big Four’ state banks — ICBC, Agricultural Bank of China, Bank of China and China Construction Bank — exceeding 10 trillion yuan for the first time. Computing hardware and memory chip stocks led losses, with Tianfu Communication approaching a 20% limit-down and Biwin Storage falling more than 12%; morning turnover reached 996.7 billion yuan.