Eva Daily Market Brief — Saturday 10 Oct 2026

🇦🇺 AU

• ASX 200 closed the week at 8,716.6, +0.64% Friday — a solid finish after Thursday's wobble, though the week itself ended flat.
• Uranium complex cracked hard: PDN 8.39, DYL 0.98, BOE 1.36 — sharp late-week slide off the back of profit-taking, no new company news.
• PLS 3.50 (−5.4%) and the broader lithium basket keep grinding lower; rare earths fumbled too, LYC finished at 12.41 flat.
• Lifters at the large end: CSL 183.84 (+1.3%), WES 77.35 (+1.7%), BHP 60.94 (−0.4%). Big-four banks mixed near the low end of a choppy week.
• The read for the week: the mid-tier resources names are now down 25-30% off the September highs — theme rotation, not company deterioration.

🌏 HK

• Hong Kong trim: Hang Seng 23,785.79 (−1.4%) Friday close for the week; tech did the damage on the way down.
• But the quality names snapped back into Friday: 0700 Tencent 424.8 (+3.3%), 9988 Alibaba 107.0 (+2.6%), 3690 Meituan 71.5 (+3.0%).
• Standout: 1810 Xiaomi 25.96, +9.7% Friday on huge volume (255.6m shares) — sign of a genuine re-rating or near-term blow-off, keep it watch-listed.
• Net read for the week: HSI still bottoming the September slide, but the bounce is V-shaped and fragile.

🇺🇸 US

• US ended firm: S&P 7,811.54, Nasdaq composite 27,366.17, both +0.6% Friday; VIX 14.84, back in calm territory.
• NVDA was the day's soft spot, 229.28 (−0.5%) — still digesting the last 3 sessions of AI-trade labouring, no sign of strength cracking though.
• TSLA 382.70 (+2.1%) — the strongest growth name on the list this week, reclaiming the $380 zone.
• Safe havens: GLD 384.58 (+1.6%), TLT 77.98 (+0.1%) — gold ripped again through the week, TLT churned without direction.

📊 Context

• AUD/USD 0.699, steady.
• 10-year yield 5.24% — no bond-market accident, equities are driving by earnings and flows.
• Gold futures 4,220.3 (+1.5% Friday) — fresh record territory, safe-haven bid intact.

🎯 Eva's Read

• Desk view on the uranium slide: PDN at 8.39 is below the desk alert level — sizing down on any further weekly close downside rather than averaging in.
• Xiaomi's +9.7% session is the kind of move that marks either a fresh leg up or the start of mean reversion — treat it with suspicion, not conviction.
• Gold at record highs keeps the hard-asset leg of the portfolio the highest-conviction position today.
• Growth names are the crowded part of the tape again — trim the strongest, don't chase.
• Anchor: in a mixed tape, discipline on stops is worth more than any one-day view.