On October 28th (Monday), all three major U.Sstock indexes saw collective gains, with the Dow Jones increasing by 0.65%, the Nasdaq by 0.26%, and the S&P 500 advancing by 0.27% at market close.

Chinese stocks listed in the U.Shad a strong performance, with the Nasdaq Golden Dragon China Index climbing by 4.05%. Notable individual stocks included Douyu, which surged nearly 15%, Huya jumping over 12%, and names like Miniso, NIO, and iQIYI all seeing increases exceeding 10%. XPeng and Bilibili also posted substantial gains of nearly 9% and more than 7%, respectively.

A new trend appears to be emerging in global markets: extended trading hoursRecently, exchanges in the U.Sand Japan have opted to increase trading times, reflecting a broader shift towards longer trading windows.

Market worries about escalating tensions in the Middle East have eased, resulting in a dramatic drop in international oil prices, plummeting over 6%—the most significant decline in more than two years.

In a noteworthy parallel, gold prices have soared throughout the year, frequently hitting new highs, while silver recently reached its highest levels in nearly 12 years.

U.S

stock indexes close slightly higher

Upon closing on October 28, the Dow added 273.17 points for a 0.65% increase, finishing at 42,387.57; the Nasdaq advanced by 48.58 points or 0.26% to 18,567.19; and the S&P 500 closed up 15.40 points, rising 0.27% to 5,823.52.

This week is particularly busy for earnings reports, as five tech giants—Alphabet, Microsoft, Meta Platforms, Amazon, and Apple—will reveal their latest financial performancesThe market is eager to see if the reports from these industry leaders will propel the Nasdaq to new heights.

Additionally, investors are closely monitoring a series of economic data set to be released this week, including preliminary GDP figures for the U.S

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in the third quarter, the Personal Consumption Expenditures (PCE) price index for September, and employment statistics for October.

Data from Wind indicates that the combined market capitalization of the seven tech giants constitutes approximately 30% of the S&P 500, with these stocks rallying over 31.9% in the first half of the year—driving the index to repeatedly set historical highsMarket analysts suggest that the robust performance of tech stocks was the primary force behind the S&P's record-breaking milestones.

Chinese stocks soar more than 4%, leading the market

On the same day, the Nasdaq Golden Dragon China Index jumped over 4%, marking a leading trend in the market.

Focusing on individual stocks, Miniso and Huya experienced gains exceeding 10%, while NIO rose more than 9% and XPeng over 8%. Other notable increases included Niu Technologies, Tiger Brokers, and Douyu with rises above 7%, alongside Bilibili, Qudian, iQIYI, WeRide, and Kingsoft Cloud all surpassing 6%. Stocks like Fangdd and New Oriental saw gains over 5%, while Tencent Music and Trip.com grew above 4%. Even companies like Baidu and JD.com increased by over 3%, with Alibaba and Pinduoduo also rising by over 2%.

According to UBS's China Internet Research Head, Fang Jinchong, recent macro policies in China are yielding benefits and departments are visibly coordinated to support the economy

While consumer confidence may take time to recover, market sentiment has improved significantlyFang also noted that internet industry participants are feeling optimistic about the prospects, favoring platform businesses over content-based firmsHe anticipated room for growth in online penetration in the local lifestyle marketThe current PEG (Price/Earnings to Growth) ratio for China’s internet sector stands at about 1.1, aligned with historical averages, but considering the government's economic stimulus and a thawing competitive landscape, Fang believes valuations remain underestimated, with potential for the PEG to rise to 1.3 being a reasonable expectation.

Recently, several foreign institutions have been bullish about Chinese assets, aggressively raising their target prices.

For instance, Bank of America raised Bilibili's target from HKD 147 to HKD 176, and JD’s from HKD 145 to HKD 173; Nomura increased Tencent’s target from HKD 478 to HKD 500, while adjusting Meituan's target from HKD 151 to HKD 224.

Moreover, Credit Lyonnais adjusted Great Wall Motor’s target from HKD 14.2 to HKD 17, reasserting an "outperform" rating; Citigroup raised PetroChina’s H-share target from HKD 7.5 to HKD 8, maintaining a "buy" rating; and Macquarie slightly increased Pinduoduo's U.S

stock target from USD 224 to USD 227, also reaffirming an "outperform" rating.

International oil prices fall sharply over 6%

On October 28, in the commodities market, gold remained stable while oil prices significantly declined.

Spot gold in London fell by 0.16% and spot silver dipped by 0.08%, while COMEX saw a slight increase in gold and a rise of 0.21% in silverIn Shanghai, both gold and silver exhibited rises of 0.28% and 0.26%, respectively.

However, it's noteworthy that the price of silver futures in New York reached a peak of $35.07 per ounce on October 23, marking the highest level since the end of 2012. "With silver's price hike (approximately 40%) exceeding that of gold (approximately 33%) this year, many Wall Street investment institutions are beginning to fear that the forthcoming decline in silver prices could be steeper than that of gold, leading to early profit-taking," said a precious metals trader from a Wall Street hedge fund.

WTI December crude futures dropped by $4.40, closing at $67.38 per barrel, down 6.13%, marking the largest single-day decrease since July 2022; Brent December crude futures fell by $4.63, settling at $71.42 per barrel, down 6.09%.

Recently, Citigroup took the initiative to revise down its forecast for Brent crude oil prices, citing a diminishing risk premium driven by geopolitical tensions in the Middle East

Citigroup lowered its three-month Brent oil price outlook from $74 per barrel to $70, and its six to twelve-month outlook from $72 to $60 per barrel.

Multiple countries extend stock trading hours

The extension of trading hours in major global markets appears to be a developing trend, with exchanges in the U.Sand Japan implementing longer trading times.

Recently, the New York Stock Exchange announced plans to extend trading hours for its fully electronic exchange, NYSE Arca, to 22 hours on each business day, pending regulatory approvalThe new hours will start at 1:30 AM ET and continue until 11:30 PM, allowing all U.S

listed stocks, ETFs, and closed-end funds to participate in this extended trading regime.

Current trading hours at the NYSE run from 4 AM to 8 PM ETThe extended trading period refers to pre-market and after-hours sessions outside the regular trading window (9:30 AM to 4 PM).

Zhao Qingming noted that the increasing interconnectedness of global financial markets and the rising frequency of cross-border transactions highlight the growing demand among global investors for regional asset allocation and risk managementAlongside advancements in the underlying information technology conditions for trading and settlement, there is a collective desire among market participants for exchanges to extend trading hours to provide more flexible opportunities for investorsVarious stock markets, including those in Japan and China, are also making efforts to push such reforms.

Before the U.S