Daily Highlights
China stocks surge to decade highs on market reopening

Chinese stocks rallied on Thursday as markets reopened after the Golden Week holiday, with the Shanghai Composite climbing 1.32% to 3 934 points—its highest level in over a decade—and the Shenzhen Component gaining 1.47% to 13 725. Mining stocks led the advance amid stronger metals prices and news that Beijing would impose export controls on rare earth production technology to strengthen its global dominance amid escalating US-China tensions. Top gainers according to Trading Economics included Zijin Mining and China Northern Rare Earth, both up 10%, and Zhejiang Huayou Cobalt, which rose 6.70%. Technology shares also gained on renewed global AI optimism, with ZTE Corp, Giga Device Semiconductor, Hygon Information, Foxconn Industrial, and IEIT Systems climbing between 2.10% and 9.50%. Investors also looked ahead to the Communist Party’s leadership meeting on October 20–23 and a possible Xi-Trump meeting at the APEC summit later this month.
US stocks reversed early gains on Thursday, with the major indexes slipping about 0.30% as the S&P 500 and Nasdaq eased after opening at record highs. Consumer discretionary and industrials led losses, while consumer staples outperformed. According to Trading Economics, Apple, Amazon, Alphabet, Tesla, and Walmart each dropped more than 1%, whereas PepsiCo rose 2.50% on strong quarterly results, Delta Air Lines jumped over 5% on upbeat forecasts through 2025, Nvidia gained 2.40% after the US approved billions in chip exports to the UAE, and Costco advanced 2.90% on better-than-expected September sales. Despite the ongoing government shutdown delaying key economic data, traders remain confident the Fed will deliver two more rate cuts this year.
European stocks were mixed on Thursday, with the STOXX 50 erasing early gains after hitting record highs at the open and the broader STOXX 600 slipping 0.30% following a record close in the previous session, dragged lower by weakness in banking shares. HSBC tumbled more than 6% after announcing plans to take its Hong Kong–based unit, Hang Seng Bank, private in a deal worth over HK$290 billion, while Lloyds fell 3.40% on concerns about potential costs tied to the UK motor finance probe. Ferrari plunged over 16% after revising its 2030 outlook and scaling back electrification targets, and L’Oréal and UniCredit each declined around 1%. Offsetting some losses, Hermès climbed 1.40% to its highest level since August, while Siemens, Schneider Electric, Vinci, and Mercedes-Benz posted modest gains. Political uncertainty in France added to the cautious mood, as President Macron said he would appoint a new prime minister within 48 hours.
South African markets were little changed, with the FTSE/JSE All Share Index edging down 0.03% to 110 941 points as investors weighed weaker manufacturing data against firmer commodity prices. The rand held steady near R17.17 to the dollar, supported by a rally in gold and renewed optimism toward emerging markets. Mining stocks, particularly gold and platinum producers, remained the market’s bright spot amid global demand strength, while broader local equities lagged due to subdued industrial output, which fell 1.50% year-on-year in August, highlighting persistent weakness in the manufacturing sector.
Commodities traded mixed as investors reassessed global growth prospects and shifting risk sentiment. Oil prices eased for a second straight session, with Brent crude slipping about 0.50% to around $84.60 per barrel and WTI down 0.60% to $80.10. The decline came as geopolitical tensions in the Middle East appeared to ease and US inventory data pointed to stronger supply, offsetting earlier gains from OPEC+ production restraint. In contrast, gold remained a focal point in the commodities market after recently breaching the $4 000-per-ounce mark for the first time, before easing roughly 2% as traders booked profits. Despite the pullback, the metal remained near record highs, underpinned by ongoing concerns over global economic uncertainty, expectations of further US rate cuts, and continued demand for safe-haven assets from central banks and institutional investors.
| Date | Index | Current Level | 1 Day Move | 1 Month Move | 6 Month Move | 1 Year Move | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Date | 2026-09-04T00:00:00 | IndexALSI | Current Level116687.82 | 1 Day Move1.40 | 1 Month Move3.97 | 6 Month Move-0.46 | 1 Year Move19.16 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Date | 2026-09-04T00:00:00 | IndexBasic minerals | Current Level95238.76 | 1 Day Move2.55 | 1 Month Move24.93 | 6 Month Move-1.18 | 1 Year Move47.04 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Date | 2026-09-04T00:00:00 | IndexFin + Ind 30 | Current Level13244.93 | 1 Day Move0.78 | 1 Month Move-4.64 | 6 Month Move0.06 | 1 Year Move8.25 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Date | 2026-09-04T00:00:00 | IndexFinancial | Current Level63687.74 | 1 Day Move0.73 | 1 Month Move-1.81 | 6 Month Move3.54 | 1 Year Move29.71 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Date | 2026-09-04T00:00:00 | IndexIndustrial index | Current Level130877.07 | 1 Day Move0.84 | 1 Month Move-7.25 | 6 Month Move-2.96 | 1 Year Move-7.23 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

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