Last Week's Recap
1.The US Market - US Stock Show Fast Week
Fast week:The major U.S. stock indexes produced gains of around 2.0% in the first full trading week of 2026. The $S&P 500(.SPX)$ and the $Dow Jones(.DJI)$ surpassed record highs set two weeks earlier, and the $NASDAQ(.IXIC)$ climbed to within 1.2% of its historic peak set more than two months ago.
Small-cap surge: $iShares Russell 2000 ETF(IWM)$ jumped 4.6% for the week and nearly 14% over six weeks, hitting a record high and outperforming large-cap peers.
Metals shine:Precious metals prices rebounded and extended rallies. Gold was trading above $4,520 per ounce and silver surpassed $80 per ounce for the first time.
Dividend gains: S&P 500 net dividend increases jumped to $13.1 billion in Q4 2025 from $10.6 billion in Q3, with Q1 2026 expected to be busy amid record earnings and sales.
Sentiment uptick: U.S. consumer sentiment is up for the second month in a row and at its highest level in four months.
Jobs slump: The economy generated a below-forecast 50,000 jobs in December, provided further evidence of a labor market slowdown.
2. The US Sectors & Stocks - Basic Materials and Consumer Cyclical Lead
Sectors: Basic Materials +5.83%, Consumer Cyclical +4.76%, Industrials+3.49%.
Semiconductor and energy sectors also seen notable gains. Companies like $SanDisk Corp.(SNDK)$ (+37.12%) and $Lam Research(LRCX)$ (+17.99%), reflecting robust investor interest in AI and chip-related stocks. Energy stocks also rallied, with $Chevron(CVX)$ and $Exxon Mobil(XOM)$ benefiting from geopolitical developments in Venezuela.
$NVIDIA(NVDA)$ saw a slight decline of 2.11% despite unveiling its Vera Rubin AI platform at CES 2026, highlighting its leadership in AI infrastructure. However, competition in the AI chip sector remains intense.
$ASML Holding NV(ASML)$ gained 9.46%, supported by strong demand for semiconductor equipment and positive market sentiment following TSMC's robust revenue growth.
$Taiwan Semiconductor Manufacturing(TSM)$ reported a 20.4% year-over-year revenue increase in December, driving a 1.26% weekly gain. The company continues to benefit from AI-driven demand for advanced process technologies.
$APPLIED DIGITAL CORP(APLD)$ surged 34.4% after reporting a 250% year-over-year revenue increase in Q2, driven by strong demand for AI data centers. The company also announced advanced talks with a major AI hyperscaler for a significant lease agreement.
$Advanced Micro Devices(AMD)$ declined 9.08% as competition in the AI hardware market intensified, with Nvidia and AMD both unveiling new AI-focused products at CES 2026.
$Alibaba(BABA)$ fell 3.07% this week, reflecting mixed investor sentiment despite the company's continued investment in its Taobao Flash Sale platform.
$JPMorgan Chase(JPM)$ gained 1.1%, maintaining its position as a top-performing financial stock with a market cap exceeding $900 billion.
3.Hong Kong Market - HSI sees a slight decline of 0.4%
$HSI(HSI)$ :The Hong Kong stock market experienced a slight decline by 0.4% and closed at 26,231.79 . The market was influenced by mixed performances in major tech stocks and concerns over global economic conditions. $HSTECH(HSTECH)$ declined 0.86% and closed 5687.14.
$GEELY AUTO(00175)$ ）saw a decline of 5.5%. The company's announcement of a 26% yoy increase in total sales for 2025, the stock was affected by broader market trends and investor sentiment.
$J&T EXPRESS-W(01519)$ reported a 15.27% yoy increase in parcel volume for 2025, reaching 301.3 billion parcels. The stock rose by 15.3% this week, reflecting strong investor confidence in the company's growth prospects.
$LAOPU GOLD(06181)$ stock surged by 5.95%, driven by strong Lunar New Year demand and positive analyst outlooks. The stock closed at HKD 659.0 on January 9, 2026.
$BYD COMPANY(01211)$ declined by 4.25%. Despite launching new models in its Ocean Network series, the stock was impacted by competitive pressures and market dynamics.
$TENCENT(00700)$ saw a decline of 1.9% this week. The company continued its share buyback program, repurchasing 103.4 million shares for approximately HKD 6.36 billion, but this was not enough to offset broader market trends.
$BABA-W(09988)$ declined by 1.68%. Despite positive developments in its Taobao Flash Sale business, the stock was affected by broader market trends and investor sentiment.
$MEITU(01357)$ rose by 6.73%, driven by positive analyst reports and strong performance in the software and IT services sector.
$XPENG-W(09868)$ declined by 2.24%. The company announced the launch of four new models and plans for large-scale production of humanoid robots and flying cars, but market sentiment remained cautious.
4. Singapore Market - STI rises 1.9% amid positive market sentiment
$Straits Times Index(STI.SI)$ : The Straits Times Index increased a 1.9% and closied at 4744.66. The rise was driven by strong performances in key stocks and positive market sentiment, reflecting investor confidence in the Singapore market.
$YZJ Shipbldg SGD(BS6.SI)$ rose by 4.9%, technical analysis by Phillip Securities Research indicated bullish signals, with the stock breaking out of an ascending triangle pattern.
$DBS(D05.SI)$ increased 2.13% weekly and surged to record highs, same as Oversea-Chinese Banking Corporation (O39 SI) , its price surpassing the $20 mark for the first time ever.
$CONCORD NE(SEG.SI)$ rose by 12.5%, It started secondary trading on the SGX Mainboard, marking an important milestone for the company.
$Comba(STC.SI)$ experienced a significant rise of 109.79%, reflecting strong market performance and investor confidence.
$Ley Choon(Q0X.SI)$ surged by 21.25%, aligning with positive regional trends and a strong US market reaction to geopolitical developments.
$PropNex(OYY.SI)$ rose 8.95%, it announced the withdrawal of a lawsuit against its subsidiary, this development positively impacted the company's reputation and investor sentiment.
$Suntec Reit(T82U.SI)$ reported a 13.4% year-on-year increase in distributable income to 52.4 million Singapore dollars for the quarter ended September 30, 2025. The stock remained stable, reflecting positive performance and confidence in its business operations.
$IFAST(AIY.SI)$ saw a slight increase of 0.1%, it announced a strategic acquisition of a 30% interest in Financial Alliance Corporation Limited for approximately 19.6 million Singapore dollars.
5. Australian Market - ASX 200 sees minor fluctuations amid BlueScope Steel's takeover drama
The Australian stock market experienced minor fluctuations of -0.11%, with the $S&P/ASX 200(XJO.AU)$ closing at 8717.8. The market's movement was influenced by mixed investor sentiment and specific corporate events.
Sectors: oil and gas, electronic equipment, aerospace & defense,soft drinks and aluminum industries lead weekly gains.
$BLUESCOPE STEEL LTD(BSL.AU)$ surged 24.3% as AustralianSuper raised its stake to 13.52% and the board rejected a AU$30/share takeover bid from SGH/Steel Dynamics.
$PLS Group Ltd(PLS.AU)$ rose 7.89%, rose 13.3% YTD 2026. Sensitive to Tesla and EV industry policy changes, PLS indirectly benefits as an upstream lithium supplier. The market remains optimistic about growth in EV and energy storage demand, with lithium as a core material benefiting from structural opportunities.
$JAMES HARDIE INDUSTRIES-CDI(JHX.AU)$ : Rose 5.29%, with its share price primarily influenced by macro factors including interest rate expectations (RBA policy), China demand (real estate and infrastructure), and commodity prices (copper, iron ore).
$WOOLWORTHS GROUP LTD(WOW.AU)$ +2.21%: Australian food and liquor business sales and profits continued to grow, with stable market share. Enhanced online sales and digital engagement generated additional revenue. In an inflationary environment, its "daily essentials" positioning attracted value-conscious consumers.
$ARISTOCRAT LEISURE LTD(ALL.AU)$ +0.00%: The company saw improved gaming machine sales data, digital games business growth, North American market share expansion, and a weaker US dollar exchange rate (boosting overseas revenue proportion).
$BRAMBLES LTD(BXB.AU)$ -0.35%: As an Australian blue-chip, the "Pooling" model's efficiency advantages (e.g., shared and recycled pallets) generate economies of scale. Its business model provides environmental benefits, aligning with ESG (Environmental, Social, and Governance) trends to attract investors.
The Week Ahead
1. Macro Factors -Key Economic Indicators and Earnings Season to Shape Markets
U.S. Macro Focus – Inflation & Fed Outlook
Markets will focus on December U.S. inflation data, with expectations of a 2.7% year-over-year increase, as investors assess the Federal Reserve’s future interest rate decisions.
Producer Price Index (PPI) and retail sales data will also be closely watched.
Europe & Asia – Growth and Trade Data
In Europe, Germany and the U.K. will release GDP figures.
In Asia, China’s trade data will be pivotal, with export growth expected to slow to 2.6% in December.
Earnings Season – Banks in the Spotlight
Earnings season kicks off with major banks including JPMorgan Chase, Bank of America, and Goldman Sachs reporting results, setting the tone for Wall Street.
Geopolitics & Policy Watch
Investors are monitoring geopolitical tensions, particularly in Venezuela and Iran, which are influencing oil prices.
The U.S. Supreme Court’s upcoming decision on Trump’s tariffs remains a key policy risk.
Other Key Events
The J.P. Morgan Healthcare Conference will be closely followed.
Global bond auctions are also set to attract market attention.
2. Earnings Spotlight: BK, BAC, TSM, STT
This week marks the official kickoff of earnings season, led by major U.S. financial institutions and select global bellwethers.
Big Banks Take the Lead
Tuesday–Wednesday: $JPMorgan Chase(JPM)$ , $Bank of America(BAC)$ , $Citigroup(C)$ , $Wells Fargo(WFC)$
Key focus areas include net interest margin trends, loan growth, and management commentary on rate cuts and economic outlook.
Wall Street Heavyweights
Thursday: $Goldman Sachs(GS)$ , $Morgan Stanley(MS)$ , $BlackRock(BLK)$
Markets will be watching investment banking activity, asset inflows, and capital markets recovery signals.
Consumer & Industrials Check-in
Tuesday: $Delta Air Lines(DAL)$
Provides an early read on travel demand, pricing power, and consumer spending resilience.
Global & Tech Highlight
A key bellwether for global semiconductor demand and AI-related capex trends.
Regional Banks Round Out the Week
Friday: $State(STT)$ , $PNC Financial Services Group Inc(PNC)$
Investors will assess balance sheet strength and regional credit conditions.
Overall, this week’s earnings are set to define early market expectations for 2026—especially around rates, growth, and risk appetite.
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