Market Update
China and Asia Markets Extended Weekly Losses as AI Bubble Worries Gripped Investors
Li Chen
21 Nov, 2025
Hong Kong
Stocks in China, Hong Kong, and Asia fell sharply, reflecting weakness in overnight trading on Wall Street.
The Hang Seng Index dropped 2%, and the mainland-focused CSI 300 index declined 1% amid renewed worries about AI sector valuation and a lackluster U.S. jobs report.
Markets in Japan fell as much as 3%, and in South Korea, they plunged 4%, dragged down by steep declines in semiconductor-related stocks, as investors reassessed valuations and growth outlook over the next two years.
For the week, the Hang Seng Index closed down 4%, and the mainland-focused CSI 300 index fell 3%, and they registered their worst weekly losses since early April.
Global market sentiment is turning negative as investors step back from riskier bets amid persistent uncertainty linked to the U.S. monetary policy.
Investors have dialed down expectations of a U.S. rate cut at the next policy meeting in three weeks, as inflation risks outweigh labor market weakness.
China Indexes and Stocks
The Hang Seng Index decreased 2% to 25,300.28, and the mainland-focused CSI 300 index declined 1% to 4,476.40.
Property stocks advanced on speculation that the central government is likely to announce additional measures to support home sales for first-time buyers.
China Vanke increased 0.5% to HK $4.23, Longfor Group jumped 3.4% to HK $10.09, and China Overseas Land & Investment edged up 0.2% to HK $13.74.
Alibaba Group Holding decreased 4% to HK $148.50, Tencent Holdings dropped 1.6% to HK $611.0, and Baidu Inc. plunged 6% to HK $106.40.
Nvidia's Results Revive AI Rally and Support Global Advance
Barry Adams
20 Nov, 2025
New York City
Investors returned to increase exposure to AI chipmakers, and the sharp rebound in tech stocks on Thursday powered another day of upswing on Wall Street.
The S&P 500 index increased 0.6%, and the tech-heavy Nasdaq Composite gained 1.1% after Nvidia's quarterly results surpassed market expectations.
Nvidia's solid growth in sales and earnings and outlook soothed investor jitters over the AI spending cycle; however, analysts warned chip sales are not the weakest link in the current AI boom.
Debt-driven data centers built by leading tech companies, including Meta Platforms, Oracle, OpenAI, and Alphabet, are viewed by many as the pursuit of profitless market share.
For now, Nvidia's results supported an advance in the broader AI ecosystem, including chipmakers AMD, Broadcom, Marvell Technology, Qualcomm, Western Digital, and electric power equipment makers and suppliers, including Eaton and GE Vernova.
The U.S. Bureau of Labor Statistics is set to release long-delayed September nonfarm payrolls data on Thursday.
Economists are estimating payrolls to expand by 33,000, a slight uptick from an increase of 22,000 in August.
U.S. Stock Movers
Nvidia Corp., the AI chip maker at the center of a seven-month-long market rally, reported revenue soared 62% from a year ago to a record $57 billion in its latest quarter, soothing market nerves.
Revenue soared 62% to $57 billion from $35.1 billion, net income advanced 65% to $31.9 billion from $19.3 billion, and diluted earnings per share jumped to $1.30 from 78 cents a year ago.
Data-center segment revenue soared to a record $51.2 billion, up 25% from the previous quarter and up 66% from a year ago.
During the first nine months of fiscal 2026, the company returned $37 billion to shareholders in the form of shares repurchased and cash dividends.
The company had $62.2 billion remaining under its share repurchase authorization at the end of the fiscal third quarter.
The company's current-quarter revenue guidance exceeded market expectations, easing worries that surging valuations were ahead of fundamentals.
The company estimated revenue in the fiscal fourth quarter of $65 billion, plus or minus 2%, and earlier the company announced a strategic partnership with OpenAI to deploy at least 10 gigawatts of Nvidia systems for OpenAI’s next-generation AI infrastructure.
CEO Jensen Huang said demand for its Blackwell chips is "off the charts," confirming that AI chip demand is not likely to cool in the near future as leading tech companies continue to build large data centers.
Following Nvidia's stronger-than-expected quarterly results and outlook, AI supply chain-driven stocks rallied in Japan, South Korea, and Taiwan.
Palo Alto Networks decreased 4.5% to $191.60 after the company announced its fiscal first quarter results ending in October.
Revenue increased 16% to $2.5 billion from $2.1 billion, net income decreased to $334 million from $351 million, and diluted earnings per share eased to 47 cents from 49 cents a year ago.
The cybersecurity company estimated fiscal second quarter revenue to range between $2.57 billion and $2.59 billion, representing annual growth between 14% and 15%.
In addition, the company forecast diluted non-GAAP net income per share in the range of $0.93 to $0.95, using 711 million to 715 million shares outstanding.
Nvidia's Results Revive AI Rally and Support Global Advance
Barry Adams
20 Nov, 2025
New York City
Investors returned to increase exposure to AI chipmakers, and the sharp rebound in tech stocks on Thursday powered another day of upswing on Wall Street.
The S&P 500 index increased 0.6%, and the tech-heavy Nasdaq Composite gained 1.1% after Nvidia's quarterly results surpassed market expectations.
Nvidia's solid growth in sales and earnings and outlook soothed investor jitters over the AI spending cycle; however, analysts warned chip sales are not the weakest link in the current AI boom.
Debt-driven data centers built by leading tech companies, including Meta Platforms, Oracle, OpenAI, and Alphabet, are viewed by many as the pursuit of profitless market share.
For now, Nvidia's results supported an advance in the broader AI ecosystem, including chipmakers AMD, Broadcom, Marvell Technology, Qualcomm, Western Digital, and electric power equipment makers and suppliers, including Eaton and GE Vernova.
The U.S. Bureau of Labor Statistics is set to release long-delayed September nonfarm payrolls data on Thursday.
Economists are estimating payrolls to expand by 33,000, a slight uptick from an increase of 22,000 in August.
U.S. Stock Movers
Nvidia Corp., the AI chip maker at the center of a seven-month-long market rally, reported revenue soared 62% from a year ago to a record $57 billion in its latest quarter, soothing market nerves.
Revenue soared 62% to $57 billion from $35.1 billion, net income advanced 65% to $31.9 billion from $19.3 billion, and diluted earnings per share jumped to $1.30 from 78 cents a year ago.
Data-center segment revenue soared to a record $51.2 billion, up 25% from the previous quarter and up 66% from a year ago.
During the first nine months of fiscal 2026, the company returned $37 billion to shareholders in the form of shares repurchased and cash dividends.
The company had $62.2 billion remaining under its share repurchase authorization at the end of the fiscal third quarter.
The company's current-quarter revenue guidance exceeded market expectations, easing worries that surging valuations were ahead of fundamentals.
The company estimated revenue in the fiscal fourth quarter of $65 billion, plus or minus 2%, and earlier the company announced a strategic partnership with OpenAI to deploy at least 10 gigawatts of Nvidia systems for OpenAI’s next-generation AI infrastructure.
CEO Jensen Huang said demand for its Blackwell chips is "off the charts," confirming that AI chip demand is not likely to cool in the near future as leading tech companies continue to build large data centers.
Following Nvidia's stronger-than-expected quarterly results and outlook, AI supply chain-driven stocks rallied in Japan, South Korea, and Taiwan.
Palo Alto Networks decreased 4.5% to $191.60 after the company announced its fiscal first quarter results ending in October.
Revenue increased 16% to $2.5 billion from $2.1 billion, net income decreased to $334 million from $351 million, and diluted earnings per share eased to 47 cents from 49 cents a year ago.
The cybersecurity company estimated fiscal second quarter revenue to range between $2.57 billion and $2.59 billion, representing annual growth between 14% and 15%.
In addition, the company forecast diluted non-GAAP net income per share in the range of $0.93 to $0.95, using 711 million to 715 million shares outstanding.
U.S. Movers: Nvidia Corp.
Scott Peters
20 Nov, 2025
New York City
Nvidia Corp., the AI chip maker at the center of a seven-month-long market rally, reported revenue soared 62% from a year ago to a record $57 billion in its latest quarter, soothing market nerves.
Revenue in the quarter ending in October soared 62% to $57 billion from $35.1 billion, net income advanced 65% to $31.9 billion from $19.3 billion, and diluted earnings per share jumped to $1.30 from 78 cents a year ago.
Data-center segment revenue soared to a record $51.2 billion, up 25% from the previous quarter and up 66% from a year ago.
During the first nine months of fiscal 2026, the company returned $37 billion to shareholders in the form of shares repurchased and cash dividends.
The company had $62.2 billion remaining under its share repurchase authorization at the end of the fiscal third quarter.
The company's current-quarter revenue guidance exceeded market expectations, easing worries that surging valuations were ahead of fundamentals.
The company estimated revenue in the fiscal fourth quarter of $65 billion, plus or minus 2%, and earlier the company announced a strategic partnership with OpenAI to deploy at least 10 gigawatts of Nvidia systems for OpenAI’s next-generation AI infrastructure.
Nvidia's strong revenue growth eased market worries that the race to build data centers could slow down in the near future, after CEO Jensen Huang said that demand for its Blackwell chips is "off the charts."
Following Nvidia's stronger-than-expected quarterly results and outlook, AI supply chain-driven stocks rallied in Japan, South Korea, and Taiwan.
U.S. Movers: Nvidia Corp.
Scott Peters
20 Nov, 2025
New York City
Nvidia Corp., the AI chip maker at the center of a seven-month-long market rally, reported revenue soared 62% from a year ago to a record $57 billion in its latest quarter, soothing market nerves.
Revenue in the quarter ending in October soared 62% to $57 billion from $35.1 billion, net income advanced 65% to $31.9 billion from $19.3 billion, and diluted earnings per share jumped to $1.30 from 78 cents a year ago.
Data-center segment revenue soared to a record $51.2 billion, up 25% from the previous quarter and up 66% from a year ago.
During the first nine months of fiscal 2026, the company returned $37 billion to shareholders in the form of shares repurchased and cash dividends.
The company had $62.2 billion remaining under its share repurchase authorization at the end of the fiscal third quarter.
The company's current-quarter revenue guidance exceeded market expectations, easing worries that surging valuations were ahead of fundamentals.
The company estimated revenue in the fiscal fourth quarter of $65 billion, plus or minus 2%, and earlier the company announced a strategic partnership with OpenAI to deploy at least 10 gigawatts of Nvidia systems for OpenAI’s next-generation AI infrastructure.
Nvidia's strong revenue growth eased market worries that the race to build data centers could slow down in the near future, after CEO Jensen Huang said that demand for its Blackwell chips is "off the charts."
Following Nvidia's stronger-than-expected quarterly results and outlook, AI supply chain-driven stocks rallied in Japan, South Korea, and Taiwan.
Nvidia Corp., the AI chip maker at the center of a seven-month-long market rally, reported revenue soared 62% from a year ago to a record $57 billion in its latest quarter, soothing market nerves.
Revenue soared 62% to $57 billion from $35.1 billion, net income advanced 65% to $31.9 billion from $19.3 billion, and diluted earnings per share jumped to $1.30 from 78 cents a year ago.
Data-center segment revenue soared to a record $51.2 billion, up 25% from the previous quarter and up 66% from a year ago.
During the first nine months of fiscal 2026, the company returned $37 billion to shareholders in the form of shares repurchased and cash dividends.
The company had $62.2 billion remaining under its share repurchase authorization at the end of the fiscal third quarter.
The company's current-quarter revenue guidance exceeded market expectations, easing worries that surging valuations were ahead of fundamentals.
The company estimated revenue in the fiscal fourth quarter of $65 billion, plus or minus 2%, and earlier the company announced a strategic partnership with OpenAI to deploy at least 10 gigawatts of Nvidia systems for OpenAI’s next-generation AI infrastructure.
Nvidia's strong revenue growth eased market worries that the race to build data centers could slow down in the near future, after CEO Jensen Huang said that demand for its Blackwell chips is "off the charts."
Following Nvidia's stronger-than-expected quarterly results and outlook, AI supply chain-driven stocks rallied in Japan, South Korea, and Taiwan.
20 Nov, 2025