US President Trump: Chip manufacturers are returning to the United States because of tariffs.

Key News: 1. Indian trade official: India and the US may soon agree on reciprocal tariffs as the first part of an agreement. Stock News: 1. Niu Technologies (NIU.O) reported Q3 revenue of RMB 1.69 billion. 2. Alibaba (BABA.N) announced the launch of the public beta version of its Qianwen app, directly competing with ChatGPT. 3. Boeing (BA.N) Commercial CEO confirmed that it has received approval from the Federal Aviation Administration to proceed to the next phase of certification testing for its 777X aircraft. 4. Google (GOOG.O) announced on Friday plans to invest $40 billion in three new data centers in Texas, a move aimed at boosting the state's artificial intelligence (AI) computing power. 5. Novo Nordisk (NVO.N): Lowered the price of its weight-loss drugs in the US to combat the threat of generic drugs, offering weight-loss drugs for out-of-pocket patients at prices lower than Eli Lilly's Wegovy and Ozempic, which are priced at $349 per month in the US. 6. XPeng Motors (XPEV.N): Q3 2025 revenue was RMB 20.38 billion, compared to RMB 10.1 billion in the same period last year; Q4 revenue outlook is RMB 21.5 billion-23 billion; Q4 vehicle deliveries are expected to be between 125,000 and 132,000 vehicles. 7. Sohu (SOHU.O): In the third quarter of this year, Sohu's total revenue was US$180 million, a 19% increase compared to the same period in 2024. Net profit under non-GAAP accounting standards was US$9 million, turning a profit year-on-year. 8. According to a recent report by Mark Gurman, Apple (AAPL.O) plans to break its long-standing unified fall release schedule starting in 2026, releasing flagship models in September each year, while entry-level and mid-range models will be launched the following spring. 9. Disney (DIS.N) executives said the company’s adjusted earnings per share for fiscal year 2025 will increase by 19% year-over-year, and management expects EPS to continue to grow by double digits in fiscal year 2026. The company also announced that it will increase its share buyback program to $7 billion next year.

Market news: Britain is considering retaliatory measures against the EU over steel tariffs.