On Tuesday, U.S. stocks closed higher, and the substantial drop in U.S. Treasury yields provided support for the stock indices.  

A Federal Reserve official stated that interest rates were already high enough and did not need further increases, further boosting market risk appetite.  

Investors continued to monitor developments in the Israeli-Palestinian conflict. 

Amid the escalation of the Israeli-Palestinian conflict, investors turned to traditional safe-haven assets such as government bonds, causing bond prices to rise and yields to fall.  

The sharp decline in U.S. Treasury yields supported the U.S. stock market, as the recent rapid increase in U.S. Treasury yields had raised concerns among stock investors. 

The strike by the United Auto Workers Union (UAW) against the three major Detroit automakers entered its fourth week, resulting in losses exceeding $5.5 billion, surpassing any automotive industry strike this century. 

U.S. Stocks 

Fundamental Analysis: 

Clean energy and shipping sectors led the gains, with Sunrun, fuel cell energy, JinkoSolar, and First Solar all rising significantly.  

Large-cap tech stocks mostly saw gains, including American Superconductor (USAS), AMD, Tesla, Meta (formerly Facebook), and NVIDIA, while Amazon made modest gains.  

Streaming, precious metals, and luxury goods sectors saw declines, with Netflix and Tapestry leading the losses. 

Popular Chinese tech stocks experienced a general uptick, with the Nasdaq Golden Dragon Index rising by over 3%.  

Bilibili, Futu Holdings, NIO, iQiyi, Tencent Music, Manbang Group, and Li Auto all recorded gains. JD.com, XPeng Motors, Weibo, Alibaba, Pinduoduo, and NetEase also saw increases, while Vipshop Holdings experienced a slight decline. 

Technical Analysis:   

(S&P 500 Index, 1-day chart) 

Market Trends: 

• Dow Jones Industrial Average gained 134.65 points, up 0.40%, closing at 33,739.30. 
• Nasdaq Composite Index (Nasdaq) rose 78.60 points, up 0.58%, closing at 13,562.84. 
• S&P 500 Index increased by 22.58 points, up 0.52%, closing at 4,358.24. 

Hong Kong Stocks 

All three major indices saw gains. In the tech sector, companies like Meituan, Alibaba, JD.com, Tencent, and Baidu all rose by over 1%.  

Property stocks had mixed performance, with China Evergrande Group surging but Sunac China Holdings falling.  

Automotive stocks, led by NIO, saw widespread gains.  

The electronic components sector had strong advances, with Qutoutiao Technology surging over 20%.  

The pharmaceutical sector was active, with healthcare outsourcing concepts gaining traction, and Kang Long Chemicals seeing an 11% increase. 

Auto stocks rally, leading with a 6% surge by NIO.  

On the news front, on October 10th, the China Association of Automobile Manufacturers released data indicating preliminary statistics: In September, the new energy vehicle market recorded 743,000 units in retail sales, a year-on-year increase of 21% and a month-on-month growth of 4%.  

Cumulatively for this year, retail sales have reached 5.186 million units, reflecting a year-on-year surge of 34%.  

Furthermore, national passenger car manufacturers saw a year-on-year growth of 26% in wholesale of new energy vehicles, with a 4% increase compared to the previous month.  

Their year-to-date wholesale figures totaled 5.911 million units, showcasing a 37% year-on-year increase. 

Technical Analysis:   

(Hang Seng Index, 1-day chart) 

Market Trends: 

• Hang Seng Index (HSI) increased by 1.44%, closing at 17,743.93. 
• Hang Seng Tech Index (HSTECH) rose by 2.1%, closing at 3,956.07. 
• Hang Seng China Enterprises Index (HSCEI) gained 1.47%, closing at 6,141.29. 

FTSE China A50 Index 

Fundamental Analysis: 

Peripheral markets collectively rose, and in the early morning of October 11, A-shares opened higher.  

The market showed initial volatility and later continued to fluctuate, with all three major indices falling slightly in the morning. However, the Growth Enterprise Market (GEM) maintained an increase of over 1%. 

In terms of industry sectors, medical services, pharmaceuticals, medical devices, biotech products, and semiconductors saw significant gains, while mining, precious metals, gas, petroleum, and coal industries saw declines.  

Conceptually, CRO (Contract Research Organization), weight loss drugs, SPD, satellite communications, and innovative pharmaceuticals were active. 

Technical Analysis: 

(SSE Composite Index, 1-day chart) 

Market Trends: 

• Shanghai Composite Index (SHCOMP) increased by 0.19%, closing at 3,081.52. 
• Shenzhen Component Index (SZCOMP) rose by 0.74%, closing at 10,124.5. 
• ChiNext Index (CHINEXT) gained 1.2%, closing at 2,011.86. 
• SSE STAR Market 50 Index (SSE50) increased by 1.13%, closing at 891.99. 

Forward-looking Statements    
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