Daily News
Taiwan Leads Asia Higher as Nikkei Gains 3%; Nasdaq Rebounds 1% After Worst Session in 18 Months; Gold Climbs Above $4,100; Crude Holds Near $91
09 November 2026
Today in Brief
Asia-Pacific markets were mostly higher on Monday, led by Taiwan’s Weighted Index, which rose almost 5% on a rebound in TSMC and Foxconn; Japan’s Nikkei 225 gained 3.25% and the Topix climbed 3.44%, South Korea’s Kospi rose 1.15% and Hong Kong’s Hang Seng added 1.03%, while the small-cap Kosdaq slipped 0.23%. U.S. stocks were mixed Friday — the Nasdaq bounced 1.09% to 24,579.42 and the S&P 500 rose 0.31% to 7,376.86, while the Dow lost 237.33 points to 51,285.73 — as investors bought the dip in chip stocks after Thursday’s punishing sell-off. Gold climbed above $4,100 an ounce as weaker oil prices eased inflationary pressures, though stronger October jobs data lifted expectations of a December Fed rate hike, while crude traded around $91 per barrel after Trump said further strikes on Iran were “highly unlikely” if negotiations make significant progress.
In other news: China’s producer price inflation hit 5.7% in October, its fastest pace since June 2022, while consumer inflation slowed to 0.7%; Trump said renewed Iran strikes were “highly unlikely” if talks progress but warned he could still strike; Iranian media suggested weekend blasts in southern Iran were not U.S. attacks as both sides reported ships hit near the Strait of Hormuz; Israeli President Isaac Herzog tapped opposition candidate Gadi Eisenkot to form a government in a setback for Netanyahu; Nvidia’s board opened an investigation into CEO Jensen Huang’s relationship with an alleged Chinese spy; Berkshire Hathaway more than doubled its third-quarter buybacks to $9.6 billion as operating earnings declined; Google acquired Crusoe’s Wyoming data centre site following a $17 billion investment announcement; and Microsoft is reportedly winding down an arrangement to rent AI cloud capacity from Oracle.
Over in Asia, markets were mostly up on Monday, with Taiwanese equities leading the rise
Over in Asia, markets were mostly up on Monday, with Taiwanese equities leading the rise. The Taiwan Weighted Index was almost 5% up, powered by a rebound in key stocks TSMC and Hon Hai Precision Industry — also known as Foxconn. The Nikkei 225 gained 3.25% and the Topix climbed 3.44%, powered by financial and consumer cyclical stocks. South Korea’s benchmark Kospi index rose 1.15%, after initially starting in negative territory, while the small-cap Kosdaq index declined 0.23%. Tech heavyweights Samsung Electronics and SK Hynix were up 2.49% and 2.03% respectively. Hong Kong’s Hang Seng Index was up 1.03%, while the CSI 300 index on mainland China was 0.3% higher.
Nasdaq rebounds 1% following worst session in 18 months as traders snap up tech shares
The Nasdaq Composite rebounded on Friday as some investors bought the dip in chip stocks following a punishing sell-off that sent the index into correction territory. The tech-heavy Nasdaq bounced 1.09% to close at 24,579.42. The S&P 500 rose 0.31% to end at 7,376.86, while the Dow Jones Industrial Average lost 237.33 points, or 0.46%, and settled at 51,285.73. Worries of a potential slowdown in data center construction following big Democratic wins in the House and Senate and key state governorships hit U.S. markets hard on Thursday. The heavy selling on Thursday sent the three major stock averages to their worst one-day losses since April 2025.
Gold climbed above $4,100 per ounce on Monday, extending last week’s gains as weaker oil prices eased inflationary pressures
Gold climbed above $4,100 per ounce on Monday, extending last week’s gains as weaker oil prices eased inflationary pressures, although expectations of a more hawkish Federal Reserve capped further upside. Oil prices remained under pressure after President Donald Trump said it was “highly unlikely” he would authorize additional strikes on Iran if negotiations over its nuclear program and the reopening of the Strait of Hormuz make significant progress. Meanwhile, US data released on Friday showed that job growth accelerated in October, while the unemployment rate declined to 4.1%, highlighting the resilience of the labour market and strengthening expectations of a potential Fed rate hike in December.
Crude oil prices traded around $91 per barrel on Monday, holding losses from last week
Crude oil prices traded around $91 per barrel on Monday, holding losses from last week after President Donald Trump said it was “highly unlikely” that he would authorize further strikes on Iran if negotiations over its nuclear program and the reopening of the Strait of Hormuz make significant progress. Trump has also acknowledged that the unpopular conflict, which has pushed oil and gasoline prices higher, contributed to Republicans’ historic defeat in the midterm elections. WTI crude plunged nearly 13% last week amid expectations that Democrats would push for a swift resolution to the Middle East conflict.
China wholesale inflation hits highest in more than four years as consumer measure slows
Producer prices in China grew at the fastest rate since June 2022, accelerating for the third month in a row. The PPI for October came in at 5.7%, compared to the 5.3% expected by economists polled by Reuters. The increase was driven by a sharp rise in prices in the mining and raw materials industries. The increase was driven by very strong external demand, Zhang Zhiwei, president and chief economist at Pinpoint Asset Management, told CNBC’s “Squawk Box Asia.” Consumer inflation in China slowed to 0.7% in October, its first deceleration after two straight months of increases. The figure missed expectations of a 0.8% rise from economists polled by Reuters, and was lower than the 0.9% seen in September.
Trump says renewed Iran strikes ‘highly unlikely’ if talks progress but warns he could still strike
President Donald Trump said he is “highly unlikely” to restart open war with Iran, but warned he could still strike the country as Washington tries to reach a deal with Tehran to end the conflict. The now more than eight-month-old war, which stoked inflation and sent oil prices surging, has seen repeated bursts of fighting separated by ceasefires and peace talks for months. It was widely speculated that Trump might restart open conflict after the midterm elections, where his Republican Party lost badly to Democrats. Trump’s comments came during an interview with CNN, where he said restarting the war is unlikely as long as talks to constrain Iran’s nuclear program and reopen the Strait of Hormuz make progress. “It depends on whether or not they sign a very strong agreement,” Trump said. “The answer is highly unlikely it’s going to be necessary. They’re a failing nation.”
Iran suggests blasts are not U.S. attacks as both sides report ships hit
Iranian media suggested explosions in southern Iran on Saturday evening were related to Iranian military activities rather than U.S. strikes, while both sides reported that shipping had been hit in or near the Strait of Hormuz. Iran’s state television said officials had not confirmed any missile strikes on Iranian territory following blasts heard in several areas, including on Qeshm Island in the strait. President Donald Trump had hinted at renewing major attacks on Iran after last week’s US midterm elections but there has been no sign of a large-scale U.S. military operation, which Iran has said it would respond to by striking U.S. and Israeli targets. Both sides have continued strikes on vessels in the Strait of Hormuz, however, restricting exports of energy and other commodities vital to the world economy.
Israel’s president taps opposition candidate Eisenkot to form a government, in setback for Netanyahu
Israeli President Isaac Herzog said Saturday night that he was giving opposition candidate Gadi Eisenkot the first opportunity to form a governing coalition following elections on Oct. 27. Eisenkot, a former military chief who ran as the main challenger to Prime Minister Benjamin Netanyahu, is now a step closer to ousting Israel’s longest-serving premier. “This is the time to establish a national emergency government. I will do anything possible to prove us worthy,” Eisenkot posted on his X account just after the presidential announcement. He has up to six weeks to form a coalition, a challenging task in a deeply divided country reeling from the Oct. 7, 2023, Hamas-led attacks and the three years of wars that have followed in Gaza and beyond.
Nvidia investigates CEO Jensen Huang’s relationship with alleged Chinese spy
Nvidia has opened an investigation into co-founder and CEO Jensen Huang’s relationship with a businesswoman who intelligence agencies say is a Chinese spy. U.S. intelligence agencies have expressed concerns that the woman, Alice Huang, who is affiliated with a cloud company and an Nvidia customer called Megaspeed, has been passing information to Beijing, according to reports in The New York Times and the Financial Times. Huang told Nvidia staff in an email on Sunday that he had an affair with the woman and that Nvidia’s board of directors had opened an independent investigation into the spying allegations. “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did,” Huang wrote in the message. “I am deeply sorry.”
Berkshire Hathaway more than doubles buybacks in third quarter as earnings decline
Berkshire Hathaway said Saturday it accelerated its share repurchases during the third quarter, as operating and overall profits took a hit. The Greg Abel-led conglomerate bought back $9.6 billion worth of Berkshire stock. That’s more than double the $4.5 billion repurchased in the second quarter and brings the company’s total buybacks for 2026 to about $14.4 billion. The sharp increase came as Berkshire’s operating earnings — those from wholly-owned businesses — fell year over year, as profits from its insurance business pulled back. Berkshire operating profits totalled $12.705 billion, down 5.8% from $13.485 billion in the year-earlier period. Insurance underwriting tumbled 43% year on year to $1.352 billion, while insurance investment income declined 14% to $2.734 billion. Berkshire’s railroad, energy and manufacturing businesses all saw earnings grow year over year.
Google acquires Wyoming data centre site from AI infrastructure firm Crusoe
Google has acquired Crusoe’s data centre site in southeast Wyoming, the AI infrastructure developer said on Friday, a day after the Alphabet unit announced a $17-billion investment in the project. Here are some details. Google announced the investment on Thursday to build its first data centre in Wyoming, expanding its AI infrastructure despite growing political opposition to such projects in parts of the US. Crusoe said it has completed its involvement in the project’s pre-development phase, which included site selection, government approvals and power strategy. The deal’s financial terms were not disclosed. The campus was initially developed by Crusoe and Tallgrass Energy. Google on Thursday said it would build the facility in partnership with Tallgrass Energy, as well as Black Hills Energy, American Electric Power and Related Digital
Microsoft is winding down Oracle deal to rent AI cloud capacity, reports
Microsoft is winding down an arrangement to rent AI computing from Oracle as part of a larger reassessment of billions of dollars in cloud partnerships, Bloomberg News reported on Friday, citing people familiar with the matter. Shares of Oracle and Microsoft were flat in afternoon trading. Both stocks had come under pressure this week after a Democratic midterm election sweep in the US raised worries about tighter scrutiny that could threaten the AI industry’s breakneck expansion. Microsoft had been turning off rented computing capacity from Oracle in recent months after declining to renew the contract, according to the Bloomberg report.