This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning, along with: What we're watching What we're reading Economic data releases and earnings If Google has already moved past its most perilous legal challenge and wiggled out of the perception of playing catch-up to its rivals, the remaining question is one of search economics: How can Google make money from AI without dismantling the foundation of its search business? In every quarter this year, ...

Core Insights - Global AI giants are engaging in a user acquisition battle in the Indian market, primarily through large-scale free offerings of paid subscription services [1] - Google has partnered with Reliance Intelligence to provide its Gemini AI service for free to over 500 million users of Reliance Jio, marking a significant escalation in competition within the Indian AI market [1][2] - OpenAI and Perplexity have also launched free subscription services for Indian users, indicating a strategic focus on the Indian market by major AI companies [1][3] Group 1: Google's Initiative - Google has signed an agreement with Reliance Intelligence to offer the Google AI Pro plan for free for 18 months, valued at approximately 39.6 USD per user [2] - The rollout will be phased, starting with young users aged 18 to 25 who have Jio's unlimited 5G plan, eventually covering all Jio users [2] - Google CEO Sundar Pichai expressed excitement about the partnership's potential to promote AI adoption in India [2] Group 2: Competitors' Strategies - OpenAI announced that starting November 4, new users in India will be able to use the ChatGPT Go subscription for free for one year, with the plan previously doubling the number of paid users in India [3] - Perplexity has partnered with Bharti Airtel to offer its Pro service for free to 360 million customers, with a global annual fee of 200 USD [2][3] Group 3: Importance of the Indian Market - The Indian market is crucial for global tech companies due to its vast digital population, with significant user bases on platforms like Facebook, Instagram, YouTube, and WhatsApp [4] - India has approximately 377 million Gen Z individuals contributing 860 billion USD in consumer spending, projected to rise to 2 trillion USD by 2035 [4] - The combination of a large user base and substantial consumer potential positions India as a key battleground for digital services and generative AI competition [4]

Group 1: China Ping An (2318) - The net profit attributable to shareholders for the first three quarters of 2025 reached 132.856 billion CNY, a year-on-year increase of 11.5%[6] - The new business value (NBV) for life and health insurance grew significantly to 35.724 billion CNY, up 46.2% year-on-year[7] - The first-year premium income was 141.769 billion CNY, reflecting a year-on-year growth of 2.3%[7] - The operating profit for the first three quarters was 116.264 billion CNY, a year-on-year increase of 7.2%[6] - The target price is set at 92.7 HKD, representing a potential upside of 65% from the current price[11] Group 2: Pop Mart (9992) - The company reported a revenue growth of 245%-250% year-on-year for Q3 2025, exceeding expectations[17] - Domestic revenue increased by 185%-190%, while overseas revenue surged by 365%-370%[17] - The target price is set at 400.0 HKD, indicating a potential upside of 75.3% from the current price[25] Group 3: Alphabet (GOOGL) - Alphabet achieved a revenue of 102.3 billion USD in Q3 2025, a 16% increase year-on-year, marking its first quarter with over 100 billion USD in revenue[30] - The net profit for the quarter was 35 billion USD, reflecting a year-on-year increase of 33%[30] - The target price is raised to 350 USD, suggesting a potential upside of 27% from the current price[34]

昨天凌晨美股一收盘，不少朋友拿着手机就慌了——纳指一下跌了380点，Meta直接崩了11%，英伟达市值都守不住5万亿了。我刚翻完财报数据，老粉的 消息就发过来了："帮主，科技股是不是凉了？" 别急，做了20年财经记者，又熬了这么多年中长线，今天就跟大伙唠唠这盘面里的门道。 其实早上打开电脑复盘的时候，我还真想起去年跟一个基金经理聊天的场景。他当时就说，科技股涨得太急，早晚得有资金往价值股里躲，没想到这一 天来得这么快。你看这盘面多有意思，Meta跌得最惨，不是因为业绩差，反而是营收增长创了去年一季度以来的新高，问题出在特朗普那"大美丽法 案"上，一下计提了159亿多的一次性费用，市场一看短期利润崩了，先砸为敬。微软也一样，说投OpenAI亏了31亿，资金立马用脚投票。 至于大家关心的另外两件大事，中美会谈和美联储降息，我得给大伙提个醒。会谈一出来，美国的稀土矿商就涨了，但机构都说是"战术性停火"，不是长 期协议，这话点到了要害。就像之前稀土博弈那阵，短期消息能炒一波，但真正的长期机会还得看产业链韧性，这点跟咱们选消费股是一个逻辑，得看 核心需求硬不硬。 美联储降息25个基点，还停了缩表，看着是放水，但鲍威尔说 ...

Core Viewpoint - The U.S. tech sector, represented by the "Magnificent Seven," experienced a pre-market rally, with significant gains in major companies [1] Group 1: Company Performance - Amazon saw a notable increase of 12% [1] - Apple experienced a rise of 2% [1] - Meta, Nvidia, and Alphabet (Google A) each rose by 1% [1] - Tesla increased by 0.9% [1] - Microsoft had a modest gain of 0.2% [1]

Market Overview - The CNN Money Fear and Greed index increased in overall fear level, remaining in the "Fear" zone with a current reading of 37.1, down from 40.4 [1][6] - U.S. stocks closed lower, with the Nasdaq Composite dropping more than 350 points, influenced by mixed earnings from major companies and hawkish comments from Fed Chair Jerome Powell [1][4] Federal Reserve Actions - The Federal Reserve lowered interest rates by 25 basis points to a range of 3.75%-4.00% for the second consecutive meeting, but Powell indicated that further cuts are not guaranteed [2] Company Performance - Meta Platforms Inc. shares fell over 11% due to significant new AI-related capital expenditures [3] - Microsoft Corp. experienced a nearly 3% decline despite exceeding analysts' expectations [3] - Alphabet Inc. saw a 2.5% increase in its stock price [3] Sector Performance - Most sectors in the S&P 500 ended negatively, with consumer discretionary, communication services, and information technology experiencing the largest losses [4] - Real estate and financial sectors performed positively, closing higher [4] - The Dow Jones closed down approximately 110 points, the S&P 500 decreased by 0.99%, and the Nasdaq Composite fell by 1.57% during the session [4] Upcoming Earnings - Investors are anticipating earnings results from Exxon Mobil Corp., Chevron Corp., and Colgate-Palmolive Co. [5]

The CNN Money Fear and Greed index showed an increase in the overall fear level, while the index remained in the “Fear” zone on Thursday.U.S. stocks settled lower on Thursday, with the Nasdaq Composite dipping more than 350 points during the session, weighed down by mixed earnings from the mega-caps and the lingering impact of hawkish remarks from Fed Chair Jerome Powell the day before.The central bank, on Wednesday, lowered rates by 25 basis points to 3.75%-4.00% for the second straight meeting. Fed Chair ...

Data Privacy - Google agrees to delete incognito browsing data collected from users [1]

Ah, the stock market. A bastion of rational thought, predictable trends, and calm, measured reactions to geopolitical events. Or so the textbooks would have you believe. In the era of Donald J. Trump, however, the market has transformed into a high-stakes reality show, where every presidential pronouncement, tweet, or “amazing” deal can send indices on a dizzying ride. The past few days, culminating on October 30, 2025, have offered a particularly rich tapestry of this unique market dynamic, featuring tarif ...

Asian shares are mixed after the U.S. stock market sank from record heights as Wall Street sifted through various developments such as trade relations with China and profits of Big Tech giantsA woman with an umbrella passes the New York Stock Exchange, Monday, Oct. 13, 2025. (AP Photo/Richard Drew)MANILA, Philippines -- Asian shares are mixed after the U.S. stock market sank from record heights as Wall Street sifted through various developments such as trade relations with China and profits of Big Tech gian ...