Nvidia earnings, APEC summit, US retail sales to drive markets week
Nvidia reports Q3 earnings Tuesday after CEO resignation; APEC CEO Summit starts Tuesday in Shenzhen; US retail sales data due Tuesday; China releases October economic data Monday; Hong Kong CPI due Friday.
Nvidia will report its third-quarter earnings on Tuesday, after its market capitalisation swung from US$1.9 trillion to US$3.9 trillion as of Friday, following the resignation of former chief executive Jensen Huang amid revelations of extramarital affairs, according to The Standard. Analysts forecast the chip giant's earnings growth will reach 90 per cent on revenue of US$109 billion (HK$850.2 billion) for the company's fiscal third quarter, based on LSEG data.
A batch of Chinese tech giants will release their latest results in the coming week, including Tencent, Baidu, Alibaba, JD.com, Kuaishou Technology, NetEase and Lenovo.
Twelve leaders of Asia-Pacific Economic Cooperation (APEC) economies will attend the APEC CEO Summit 2026, scheduled for Tuesday to Wednesday in Shenzhen. Chinese President Xi Jinping, along with leaders from Australia, Canada, Chile, China's Hong Kong, Indonesia, the Republic of Korea, Malaysia, Mexico, Russia, Thailand and Vietnam, will attend the summit. Representatives from 115 Fortune Global 500 companies will also participate. The APEC Economic Leaders' Meeting is set for Wednesday and Thursday.
Tuesday's US retail sales figures will be the focus for the market. The data will offer a read on whether inflation is still building, potentially paving the way for the Federal Reserve to hike rates. US consumer prices grew more than forecast in October, up 0.4 per cent, leading investors to bet on further Fed rate hikes in coming months.
China will release October industrial output, retail sales, fixed asset investment data and the unemployment rate on Monday. The market estimated that China's industrial output in October will slow from the 5.5 per cent increase recorded a month prior to 5.3 per cent, while retail sales are expected to log a 0.8 per cent growth in October, compared with the 1.1 per cent increase in September.
Hong Kong consumer price index figures for October will be released on Friday, after logging a 1.9 per cent rise a month ago.