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CPCA: Global Automaker Mkt Cap Falls in Sep; Nascent Carmakers' Mkt Value Down 58% YoY
AASTOCKS News·- The China Passenger Car Association reported that the total market capitalization of global automobile manufacturers declined across major markets in September. - US-listed automakers reached RMB 12.9 trillion, down 5 % month-on-month and 13 % year-on-year, while Hong Kong and mainland A-share markets experienced sharper year-on-year drops of 50 % and 36 %, respectively. - Domestic and international vehicle manufacturers faced severe downward pressure, with nascent carmakers and phone-related automakers recording year-on-year market value contractions of 58 % and 59 %, respectively.Trending stocks this week as markets weigh jobs data, yields
Seeking Alpha·- Wall Street closed the week mixed as cooler September jobs data lowered rate-hike odds while Treasury yields climbed, with major indices showing divergent weekly performances. - Key corporate developments included Nvidia's $150 B share-repurchase authorization, Micron's better-than-expected fiscal Q4 results, and AstraZeneca's $2 B investment in Summit Therapeutics. - Additional market highlights featured executive changes at MongoDB, weak Chinese sales impacting Nike, and operational milestones achieved by SpaceX.
