Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Chinese electric vehicle (EV) stocks slipped on Thursday, mirroring losses in Tesla Inc (NASDAQ:TSLA) after the U.S. automaker posted disappointing third-quarter earnings and warned of significantly higher expenses in the coming year.
Shares of Tesla’s Chinese rivals fell in tandem, with BYD Co (HK:1211) dropping 0.9%, while NIO Inc (HK:9866), Li Auto Inc (HK:2015), Zhejiang Leapmotor Technology Co Ltd (HK:9863), and Xpeng Inc (HK:9868) declined between 0.9% and 2.5%. The downturn followed Tesla’s nearly 4% post-market drop, after its Q3 profit missed forecasts despite achieving record-high revenue.
Tesla’s revenue surge, driven by record vehicle deliveries, was offset by rising costs tied to trade tariffs and artificial intelligence development. The company also cautioned that its capital expenditures would rise sharply in 2026 as it accelerates its shift from electric vehicles toward AI and robotics.
While Tesla’s Q3 delivery boom benefited from the expiration of U.S. EV tax credits, this demand spike may not be sustainable. Outside the U.S., Tesla continues to face slower sales in Europe and Asia, where competition from Chinese automakers is intensifying.
Industry analysts warn that increasing competition and weaker global demand could trigger more price cuts from Tesla, putting additional pressure on Chinese EV makers. Earlier in October, Tesla launched cheaper versions of its Model 3 and Model Y vehicles, intensifying the ongoing price war in China’s EV market.
The Chinese EV sector remains locked in fierce competition as established players and newcomers like Xiaomi Corp (HK:1810) race to capture market share. Tesla’s aggressive price reductions in China have further strained profit margins across the industry, fueling volatility for investors in both U.S. and Hong Kong-listed EV stocks.
