China Indexes Attempted to Rebound Amid as Policymakers Set Growth Tar

Stocks in China rebounded, tracking gains in overnight trading in New York, and crude oil prices extended their gains amid ongoing conflict in the Middle East.

The Hang Seng Index increased 0.8%, and the mainland-focused CSI 300 Index advanced 1.3% as investors set aside worries of the U.S.-Iran conflict engulfing more nations in the region. 

China's National People's Congress set the gross domestic product growth target for 2026 between 4.5% and 5.0% at the start of the annual parliamentary session in Beijing. 

China's policymakers set a lower economic growth target as they shifted their focus to technological innovation and high-value-added activities.

China Indexes and Stocks 

The Hang Seng Index increased 0.8% to 25,462.30, and the CSI 300 Index advanced 1.3% to 4,662.81. 

Cosco Shipping Holdings increased 2.8% to HK $15.99, China Merchants Port Holdings advanced 2.6% to HK $17.15, and Overseas International gained 2.6% to HK $156.80. 

Middle East Conflict Adds Another Layer of Uncertainty for Investors and Central Banks

U.S. stocks extended their losses for the third day this week as investors weighed the impact of higher oil prices on the U.S. economy and future monetary policy outcomes.

The S&P 500 index decreased 0.4%, and the tech-heavy Nasdaq Composite declined 0.5% as war in the Middle East intensified. 

Crude oil prices hovered near $75 a barrel, and natural gas prices traded around $3 per MMBtu as the U.S., Israel, and Iran exchanged air attacks. 

Gold futures prices rose 2% to $5,197 an ounce and extended a three-day increase to 10% as the U.S.-Iran conflict entered its fifth day and the outcome remained uncertain. 

Iran stepped up retaliatory strikes and directed its drone and missile attacks to neighboring nations, including the UAE, Saudi Arabia, Kuwait, and Qatar.

The rapidly shifting military situation in Iran and the Middle East roiled markets as far as in India, Japan, China, and South Korea.

Benchmark indexes in Seoul plunged 12%, in Tokyo dropped 4%, in Hong Kong fell 2%, and in Mumbai eased 1.4%. 

Market indexes in Europe attempted to rebound between 1% and 2% and reversed the two-day decline of as much as 5%.

U.S. Movers 

Ahead of earnings results later today, Abercrombie & Fitch advanced 4%, Okta inched higher 0.4%, and Broadcom Inc. edged up 1.3%. 

ConocoPhillips, Chevron, and Exxon Mobil declined around 1% amid worries that the U.S. energy companies' oil fields and assets could be vulnerable in the Middle East.

Middle East Conflict Adds Another Layer of Uncertainty for Investors and Central Banks

U.S. stocks extended their losses for the third day this week as investors weighed the impact of higher oil prices on the U.S. economy and future monetary policy outcomes.

The S&P 500 index decreased 0.4%, and the tech-heavy Nasdaq Composite declined 0.5% as war in the Middle East intensified. 

Crude oil prices hovered near $75 a barrel, and natural gas prices traded around $3 per MMBtu as the U.S., Israel, and Iran exchanged air attacks. 

Gold futures prices rose 2% to $5,197 an ounce and extended a three-day increase to 10% as the U.S.-Iran conflict entered its fifth day and the outcome remained uncertain. 

Iran stepped up retaliatory strikes and directed its drone and missile attacks to neighboring nations, including the UAE, Saudi Arabia, Kuwait, and Qatar.

The rapidly shifting military situation in Iran and the Middle East roiled markets as far as in India, Japan, China, and South Korea.

Benchmark indexes in Seoul plunged 12%, in Tokyo dropped 4%, in Hong Kong fell 2%, and in Mumbai eased 1.4%. 

Market indexes in Europe attempted to rebound between 1% and 2% and reversed the two-day decline of as much as 5%.

U.S. Movers 

Ahead of earnings results later today, Abercrombie & Fitch advanced 4%, Okta inched higher 0.4%, and Broadcom Inc. edged up 1.3%. 

ConocoPhillips, Chevron, and Exxon Mobil declined around 1% amid worries that the U.S. energy companies' oil fields and assets could be vulnerable in the Middle East.

Japan's Indexes Extended Weekly Losses to 10% as U.S.-Iran Conflict Drags On

Japan's indexes declined for the third day in a row as the surge in oil prices dampened market sentiment across Asia.

The Nikkei 225 Stock Average fell nearly 4%, the broader Topix dropped 3.6%, and the yen weakened to 157.45 against the U.S. dollar.

Investors are increasingly factoring in the possibility of a prolonged U.S.-Iran conflict expanding to the wider group of nations in the Middle East.

Investors worried that the higher energy prices could stoke worldwide inflation and slow down economic growth and disrupt energy supplies for a prolonged time.

Japan Indexes and Stocks

The Nikkei 225 Stock Average dropped 3.7% to 54,220.74, and the broader Topix decreased 3.6% to 3,637.59.

Benchmark indexes extended this week's losses to over 10% following the start of war in the Middle East. 

Nippon Yusen KK decreased 3.5% to ¥5,376.0, Mitsui O.S.K Lines dropped 2.8% to ¥5,887.0, and Kawasaki Kisen Kaisha Ltd fell 2.4% to ¥2,508.0. 

Toyota Motor, Honda Motor, and Nissan Motor fell between 4% and 7%, and Hitachi, Komatsu, and Nippon Steel declined between 4% and 6%. 

Tokyo Electron, Advantest Corp., and SoftBank Group plunged between 5% and 9%.

Japan's Indexes Extended Weekly Losses to 10% as U.S.-Iran Conflict Dragged On

Japan's indexes declined for the third day in a row as the surge in oil prices dampened market sentiment across Asia.

The Nikkei 225 Stock Average fell nearly 4%, the broader Topix dropped 3.6%, and the yen weakened to 157.45 against the U.S. dollar.

Investors are increasingly factoring in the possibility of a prolonged U.S.-Iran conflict expanding to the wider group of nations in the Middle East.

Investors worried that the higher energy prices could stoke worldwide inflation and slow down economic growth and disrupt energy supplies for a prolonged time.

Japan Indexes and Stocks

The Nikkei 225 Stock Average dropped 3.7% to 54,220.74, and the broader Topix decreased 3.6% to 3,637.59.

Benchmark indexes extended this week's losses to over 10% following the start of war in the Middle East. 

Nippon Yusen KK decreased 3.5% to ¥5,376.0, Mitsui O.S.K Lines dropped 2.8% to ¥5,887.0, and Kawasaki Kisen Kaisha Ltd fell 2.4% to ¥2,508.0. 

Toyota Motor, Honda Motor, and Nissan Motor fell between 4% and 7%, and Hitachi, Komatsu, and Nippon Steel declined between 4% and 6%. 

Tokyo Electron, Advantest Corp., and SoftBank Group plunged between 5% and 9%.

Market Sell-off Deepens in China and Asia as Military Strikes In the Middle East Intensifies

Stocks in China, Hong Kong, and Asia continued to drift amid a growing realization that the conflict in the Middle East is likely to drag on. 

The sharp rise in crude oil prices for the third day in a row stoked fears of a rebound in inflation and a decline in economic growth. 

Brent crude oil prices advanced to $82.15 a barrel as investors began to factor in the possibility of a prolonged war in the Middle East involving as many as twelve nations.

China imports about 90% of Iran's crude oil exports, and 22% of the world's natural gas exports pass through the Strait of Hormuz, which is closed down by Iran.

The worry of energy supply disruptions weighed on stock prices around the world and drove higher oil prices for the third day in a row. 

Market indexes in Japan fell more than 3% for the second consecutive session, and they plunged 11%, extending a two-day decline to more than 18%. 

China's business activities rose in February amid an improving business climate ahead of the start of the Lunar Year.

The RatingDog China General Manufacturing PMI advanced to 52.1 in February from 50.3 in January, marking the expansion for the third month in a row and increasing to the highest level since December 2020.

The service sector activities expanded in February, reversing the deceleration over the last four months. 

The RatingDog China General Services PMI soared to 56.7 in February from 52.3 in the previous month, reaching the highest level since May 2023.

China Indexes and Stocks 

The Hang Seng Index decreased 2.8% to 25,037.75, and the mainland-focused CSI 300 Index declined 1.6% to 4,581.06. 

COSCO declined 7% to HK $15.15, China Merchants Port Holdings decreased 2.5% to HK $16.53, and Orient Overseas International fell 3.2% to HK $152.70.

Market Sell-off Deepens in China and Asia as Military Strikes In the Middle East Inte

Stocks in China, Hong Kong, and Asia continued to drift amid a growing realization that the conflict in the Middle East is likely to drag on. 

The sharp rise in crude oil prices for the third day in a row stoked fears of a rebound in inflation and a decline in economic growth. 

Brent crude oil prices advanced to $82.15 a barrel as investors began to factor in the possibility of a prolonged war in the Middle East involving as many as twelve nations.

China imports about 90% of Iran's crude oil exports, and 22% of the world's natural gas exports pass through the Strait of Hormuz, which is closed down by Iran.

The worry of energy supply disruptions weighed on stock prices around the world and drove higher oil prices for the third day in a row. 

Market indexes in Japan fell more than 3% for the second consecutive session, and they plunged 11%, extending a two-day decline to more than 18%. 

China's business activities rose in February amid an improving business climate ahead of the start of the Lunar Year.

The RatingDog China General Manufacturing PMI advanced to 52.1 in February from 50.3 in January, marking the expansion for the third month in a row and increasing to the highest level since December 2020.

The service sector activities expanded in February, reversing the deceleration over the last four months. 

The RatingDog China General Services PMI soared to 56.7 in February from 52.3 in the previous month, reaching the highest level since May 2023.

China Indexes and Stocks 

The Hang Seng Index decreased 2.8% to 25,037.75, and the mainland-focused CSI 300 Index declined 1.6% to 4,581.06. 

COSCO declined 7% to HK $15.15, China Merchants Port Holdings decreased 2.5% to HK $16.53, and Orient Overseas International fell 3.2% to HK $152.70.

U.S. Movers: Best Buy, MongoDB, Plug Power, Target

MongoDB plunged 28% to $235.37 after the database software company's current-quarter estimate fell short of market expectations. 

Target Corp. jumped 4.4% to $118.51 after the retail store chain operator reported results for the fiscal fourth quarter ending on January 31. 

Net sales decreased to $30.5 billion from $30.9 billion, net income fell to $1.04 billion from $1.1 billion, and diluted earnings per share eased to $2.30 from $2.41 a year ago. 

The company estimated fiscal 2026 net sales to rise 2%, earnings per share to be $7.50, and adjusted earnings per share to be $8.50.

The big-box retailer added that sales and traffic picked up in the last two months of the holiday quarter, and February sales rose compared to a year ago.

The Minneapolis-based retailer did not repurchase any shares in the fourth quarter, and as of the end of the fourth quarter, the company had approximately $8.3 billion available under the repurchase program.

Plug Power Inc. jumped 13.8% to $2.06 after the hydrogen fuel cell and electrolyzer systems developer reported strong sales in the fourth quarter. 

Best Buy jumped 14% to $70.57 after the electronics retailer reported better-than-expected fiscal fourth-quarter results.

Revenue decreased to $13.8 billion from $13.9 billion, net income jumped to $514 million from $117 million, and diluted earnings per share advanced to $2.56 from $0.54 a year ago. 

In the quarter, the company returned a total of $272 million to shareholders through dividends of $199 million and stock repurchases of $73 million. 

Same store sales in the quarter declined 0.8%, compared to an increase of 0.5% a year ago. 

In fiscal 2026, the company returned a total of $1.07 billion to shareholders through dividends of $801 million and share repurchases of $273 million. 

The company expects to repurchase stocks worth $300 million in the fiscal year 2027. 

The company increased its quarterly dividend by 1%, 96 cents per share, payable on April 14 to shareholders on record on March 24.

U.S. Movers: Best Buy, MongoDB, Plug Power, Target

MongoDB plunged 28% to $235.37 after the database software company's current-quarter estimate fell short of market expectations. 

Target Corp. jumped 4.4% to $118.51 after the retail store chain operator reported results for the fiscal fourth quarter ending on January 31. 

Net sales decreased to $30.5 billion from $30.9 billion, net income fell to $1.04 billion from $1.1 billion, and diluted earnings per share eased to $2.30 from $2.41 a year ago. 

The company estimated fiscal 2026 net sales to rise 2%, earnings per share to be $7.50, and adjusted earnings per share to be $8.50.

The big-box retailer added that sales and traffic picked up in the last two months of the holiday quarter, and February sales rose compared to a year ago.

The Minneapolis-based retailer did not repurchase any shares in the fourth quarter, and as of the end of the fourth quarter, the company had approximately $8.3 billion available under the repurchase program.

Plug Power Inc. jumped 13.8% to $2.06 after the hydrogen fuel cell and electrolyzer systems developer reported strong sales in the fourth quarter. 

Best Buy jumped 14% to $70.57 after the electronics retailer reported better-than-expected fiscal fourth-quarter results.

Revenue decreased to $13.8 billion from $13.9 billion, net income jumped to $514 million from $117 million, and diluted earnings per share advanced to $2.56 from $0.54 a year ago. 

In the quarter, the company returned a total of $272 million to shareholders through dividends of $199 million and stock repurchases of $73 million. 

Same store sales in the quarter declined 0.8%, compared to an increase of 0.5% a year ago. 

In fiscal 2026, the company returned a total of $1.07 billion to shareholders through dividends of $801 million and share repurchases of $273 million. 

The company expects to repurchase stocks worth $300 million in the fiscal year 2027. 

The company increased its quarterly dividend by 1%, 96 cents per share, payable on April 14 to shareholders on record on March 24.

U.S. and Global Markets Plunged 3% as Energy Prices Soared 8%

World stock indexes turned sharply lower, and crude oil prices soared after conflict in the Middle East engulfed at least eleven nations for the third day in a row. 

The S&P 500 index decreased 2.2%, and the tech-heavy Nasdaq Composite dropped 2.7% as investors begin to factor in the likelihoods of a prolonged war in the Middle East. 

The prices of crude oil soared 8% and natural gas jumped 7% in New York and advanced a whopping 39% in Europe. 

Natural gas futures prices surpassed the 2023 high and reached €60.25 per MWh after surging almost 39% in the previous session.

Energy prices catapulted for the second consecutive day after Iran closed down the Strait of Hormuz, a transit thoroughfare for about one fifth of global oil and gas shipments.

The fears of a prolonged war dragged down market indexes in South Korea by 7%, in Japan by 3%, in Hong Kong by 1%, in India by 1%, and in Europe between 3% and 4%. 

U.S. Movers 

MongoDB plunged 28% to $235.37 after the database software company's current-quarter estimate fell short of market expectations. 

Target Corp. jumped 4.4% to $118.51 after the retail store chain operator reported results for the fiscal fourth quarter ending on January 31. 

Net sales decreased to $30.5 billion from $30.9 billion, net income fell to $1.04 billion from $1.1 billion, and diluted earnings per share eased to $2.30 from $2.41 a year ago. 

The company estimated fiscal 2026 net sales to rise 2%, earnings per share to be $7.50, and adjusted earnings per share to be $8.50.

The big-box retailer added that sales and traffic picked up in the last two months of the holiday quarter, and February sales rose compared to a year ago.

The Minneapolis-based retailer did not repurchase any shares in the fourth quarter, and as of the end of the fourth quarter, the company had approximately $8.3 billion available under the repurchase program.

Plug Power Inc. jumped 13.8% to $2.06 after the hydrogen fuel cell and electrolyzer systems developer reported strong sales in the fourth quarter. 

Best Buy jumped 14% to $70.57 after the electronics retailer reported better-than-expected fiscal fourth-quarter results.

U.S. and Global Markets Plunged 3% as Energy Prices Soared 8%

World stock indexes turned sharply lower, and crude oil prices soared after conflict in the Middle East engulfed at least eleven nations for the third day in a row. 

The S&P 500 index decreased 2.2%, and the tech-heavy Nasdaq Composite dropped 2.7% as investors begin to factor in the likelihoods of a prolonged war in the Middle East. 

The prices of crude oil soared 8% and natural gas jumped 7% in New York and advanced a whopping 39% in Europe. 

Natural gas futures prices surpassed the 2023 high and reached €60.25 per MWh after surging almost 39% in the previous session.

Energy prices catapulted for the second consecutive day after Iran closed down the Strait of Hormuz, a transit thoroughfare for about one fifth of global oil and gas shipments.

The fears of a prolonged war dragged down market indexes in South Korea by 7%, in Japan by 3%, in Hong Kong by 1%, in India by 1%, and in Europe between 3% and 4%. 

U.S. Movers 

MongoDB plunged 28% to $235.37 after the database software company's current-quarter estimate fell short of market expectations. 

Target Corp. jumped 4.4% to $118.51 after the retail store chain operator reported results for the fiscal fourth quarter ending on January 31. 

Net sales decreased to $30.5 billion from $30.9 billion, net income fell to $1.04 billion from $1.1 billion, and diluted earnings per share eased to $2.30 from $2.41 a year ago. 

The company estimated fiscal 2026 net sales to rise 2%, earnings per share of $7.50, and adjusted earnings per share of $8.50.

The big-box retailer added that sales and traffic picked up in the last two months of the holiday quarter, and February sales rose compared to a year ago.

The Minneapolis-based retailer did not repurchase any shares in the fourth quarter, and as of the end of the fourth quarter, the company had approximately $8.3 billion available under the repurchase program.

Plug Power Inc. jumped 13.8% to $2.06 after the hydrogen fuel cell and electrolyzer systems developer reported strong sales in the fourth quarter. 

Best Buy jumped 14% to $70.57 after the electronics retailer reported better-than-expected fiscal fourth-quarter results.

Japan's Benchmark Indexes Dropped 3%, Jobless Rate Advanced to a Five-Month High

Japan's benchmark indexes plunged amid escalating tensions in the Middle East and intensifying worries of global inflation. 

The Nikkei 225 Stock Average plunged 3%, the broader Topix declined 2.8%, and the yen weakened to 157.31 against the U.S. dollar.

The long-running covert war between the U.S. and Iran entered a new chapter this weekend, as the joint U.S.-Israel bombings targeted more than 1,200 locations and killed top military and political leaders.

Brent crude oil prices rose 2.8% to $79.78 a barrel and extended a two-day surge by 14% after Iran effectively shut down the Strait of Hormuz. 

About 20% of global oil and gas transits through the narrow passage, which is largely controlled by the Iranian military and used by Asian nations for their energy supplies.   

Japan's January Jobless Rate Jumped to a 5-Month High

Japan's jobless rate in January advanced to a five-month high, and the labor force shrank to a five-month low, according to the latest report from the Ministry of Internal Affairs & Communications.

The annual unemployment rate increased to 2.7% from 2.6% in the previous month, and the number of unemployed increased by 60,000 to 1.91 million. 

The weakness in the jobs market was largely driven by an uncertain outlook for exports and the ongoing weakness in the small to medium manufacturing sector. 

Employment fell by 290,000 to 68.2 million, while the labor force shrank by 210,000 to a five-month low of 70.1 million. 

In addition, the jobs-to-applicant ratio dropped to 1.18 from December's estimate of 1.19. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average dropped 3% to 56,331.31, and the broader Topix Index decreased 2.8% to 3,789.16. 

Export-driven companies led decliners in Tokyo trading for the second session in a row. 

Toyota Motor decreased 6.4% to ¥3,693.0, Hitachi Ltd. declined 4.9% to ¥4,817.0, Sony Group dropped 6.3% to ¥3,373.0, and Fast Retailing Co. Ltd. fell 4.6% to ¥64,630.0. 

Mitsui O.S.K. Lines decreased 0.3% to ¥6,035.0, Nippon Yusen KK fell 0.3% to ¥5,585.0, and Kawasaki Kisen Kaisha fell 2.5% to ¥2,593.0.  

Japan's Benchmark Indexes Dropped 3%, Jobless Rate Advanced to a Five-Month High

Japan's benchmark indexes plunged amid escalating tensions in the Middle East and intensifying worries of global inflation. 

The Nikkei 225 Stock Average plunged 3%, the broader Topix declined 2.8%, and the yen weakened to 157.31 against the U.S. dollar.

The long-running covert war between the U.S. and Iran entered a new chapter this weekend, as the joint U.S.-Israel bombings targeted more than 1,200 locations and killed top military and political leaders.

Brent crude oil prices rose 2.8% to $79.78 a barrel and extended a two-day surge by 14% after Iran effectively shut down the Strait of Hormuz. 

About 20% of global oil and gas transits through the narrow passage, which is largely controlled by the Iranian military and used by Asian nations for their energy supplies.   

Japan's January Jobless Rate Jumped to a 5-Month High

Japan's jobless rate in January advanced to a five-month high, and the labor force shrank to a five-month low, according to the latest report from the Ministry of Internal Affairs & Communications.

The annual unemployment rate increased to 2.7% from 2.6% in the previous month, and the number of unemployed increased by 60,000 to 1.91 million. 

The weakness in the jobs market was largely driven by an uncertain outlook for exports and the ongoing weakness in the small to medium manufacturing sector. 

Employment fell by 290,000 to 68.2 million, while the labor force shrank by 210,000 to a five-month low of 70.1 million. 

In addition, the jobs-to-applicant ratio dropped to 1.18 from December's estimate of 1.19. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average dropped 3% to 56,331.31, and the broader Topix Index decreased 2.8% to 3,789.16. 

Export-driven companies led decliners in Tokyo trading for the second session in a row. 

Toyota Motor decreased 6.4% to ¥3,693.0, Hitachi Ltd. declined 4.9% to ¥4,817.0, Sony Group dropped 6.3% to ¥3,373.0, and Fast Retailing Co. Ltd. fell 4.6% to ¥64,630.0. 

Mitsui O.S.K. Lines decreased 0.3% to ¥6,035.0, Nippon Yusen KK fell 0.3% to ¥5,585.0, and Kawasaki Kisen Kaisha fell 2.5% to ¥2,593.0.