- Barry Adams
- 28 Feb, 2025
- New York City
Stocks pulled back for the second week in a row, and benchmark indexes are set to close down in February amid heightened worries linked to the state of the U.S. economy.
The S&P 500 index edged up 0.2%, and the Nasdaq Composite advanced a fraction, but both indexes are set to close down for the week and the month.
The S&P 500 index is down 2% and the Nasdaq by 5% as of the close of Thursday, as investors worried about resurgent inflation and a weakening economic backdrop.
In February, the S&P 500 index is down nearly 3%, and the Nasdaq Composite has lost 5.4% after initial euphoria surrounding the presidential election waned.
On the economic front, the Personal Consumption Expenditure price index eased to 2.5% in January from 2.6% in December, the Commerce Department reported Friday.
Core inflation, which excludes volatile food and energy prices, slowed to 2.6% from 2.8%.
On a monthly basis, headline and core inflation increased 0.3% from the previous month.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.1% to 5,870.30, the Nasdaq Composite edged down 0.1% to 18,522.64, and the Russell 2000 index was down 0.3% to 2,133.30.
The yield on 2-year Treasury notes edged lower to 4.06%, 10-year Treasury notes decreased to 4.26%, and 30-year Treasury bonds declined to 4.53%.
WTI crude oil decreased $0.80 to $69.55 a barrel, and natural gas prices edged lower by $0.03 to $3.90 a thermal unit.
Gold decreased by $25.48 to $2,850.32 an ounce, and silver edged down by $0.16 to $31.06.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.02 to 107.27 and traded at a two-year high.
U.S. Stock Movers
Redfin Corporation dropped 11.5% to $6.76 after the real estate broker reported a wider-than-expected loss in its latest quarter.
Rocket Lab USA dropped 12% to $17.50, and the company reported sharply higher revenue in the fourth quarter.
Revenue soared 121% to $132 million, net loss expanded to $52.4 million from $50.5 million, and diluted losses per share were nearly unchanged at 10 cents.
Nvidia Corporation declined 1% to $118.76 and extended a two-day loss to 10%, despite the artificial intelligence company reporting a surge in revenue and earnings in its latest quarter.
Dell Technologies dropped 4.4% to $103.17, despite the personal computer and server maker reporting a rise in demand driven by the need for artificial intelligence applications.
Autodesk Inc. dropped 3% to $271.66, despite the design software developer's estimated annual sales increase in 2025, and announced its plans to cut its workforce by 1,350.
- Bridgette Randall
- 28 Feb, 2025
- London
European stock market indexes struggled to advance on the final day of the week amid rising trade tension, mixed economic data, and positive earnings.
Benchmark indexes in Frankfurt and Paris declined, but they advanced in London and Milan.
Market sentiment was negatively impacted by the ongoing U.S. policy uncertainty and looming threats of additional tariffs on exports from the European Union.
On the economic front, investors reviewed the latest inflation updates from France and Germany.
France's consumer price inflation slowed to 0.8% in February from 1.7% in January, driven by a sharp fall in energy prices.
Consumer price inflation fell to the lowest level since February 2021, according to the latest monthly report released by INSEE.
Germany's consumer price inflation held steady at 2.3% in February, matching the annual pace in the previous month, according to data released by the Federal Statistical Office, or Destatis.
The slowdown in service inflation to 3.8% from 4.0% and the additional decline in energy prices to 1.8% from 1.6% were offset by a significant rise in food price inflation to 2.4% from 0.8%.
UK house prices advanced for the sixth month in a row in February as buyers continued to step up despite the slowing economic backdrop.
The Nationwide House Price Index increased 0.4% from the previous month and rose 3.9% on an annual basis in January.
The average price of a house purchased through the largest building society in the UK advanced to £270,493.
Europe Indexes and Yields
The DAX index decreased by 0.4% to 22,469.76, the CAC-40 index edged lower 0.4% to 8,071.14, and the FTSE 100 index advanced by 0.1% to 8,764.98.
The yield on 10-year German bonds inched lower to 2.39%, French bonds decreased to 3.12%, the UK gilts moved down to 4.49%, and Italian bonds edged lower to 3.46%.
The euro decreased to $1.04; the British pound was lower at $1.26; and the U.S. dollar was higher and traded at 90.18 Swiss cents.
Brent crude decreased $0.67 to $72.90 a barrel, and the Dutch TTF natural gas was higher by €0.56 to €45.79 per MWh.
Europe Stock Movers
Automakers extended losses for the second consecutive week amid a muted sales outlook in the European Union, falling sales in China, and rising trade barriers in the U.S.
Volkswagen AG decreased 0.5% to €106.30, Mercedes-Benz Group fell 0.9% to €59.46, and Renault SA fell 0.6% to €49.33.
Valeo SE plunged 9.5% to €9.82, and the French auto parts maker said new orders plunged after customers canceled orders because of economic uncertainty.
"New orders were down year on year, due to significant postponements by automaker customers who are reconsidering their product offerings and pushing back their decisions until 2025.
In addition, the unsettled economic and technological environment has led certain customers to cancel orders representing around 10% of order intake for 2022 and 2023, for a total of €7.3 billion," the company said in a statement to investors.
Allianz SE dropped 0.9% to €330.40, despite the German insurance company reporting strong results underpinned by strength in all business segments.
Pearson PLC jumped as much as 4% to 1,346.0 pence after the education company reported strong results and launched a new stock repurchase program.
International Consolidated Airlines Group SA jumped 5% to 355.80 pence after the parent company of British Airways, Aer Lingus, and Iberia reported record profit for the second consecutive year.
- Bridgette Randall
- 28 Feb, 2025
- London
European stock market indexes struggled to advance on the final day of the week amid rising trade tension, mixed economic data, and positive earnings.
Benchmark indexes in Frankfurt and Paris declined, but they advanced in London and Milan.
Market sentiment was negatively impacted by the ongoing U.S. policy uncertainty and looming threats of additional tariffs on exports from the European Union.
On the economic front, investors reviewed the latest inflation updates from France and Germany.
France's consumer price inflation slowed to 0.8% in February from 1.7% in January, driven by a sharp fall in energy prices.
Consumer price inflation fell to the lowest level since February 2021, according to the latest monthly report released by INSEE.
Germany's consumer price inflation held steady at 2.3% in February, matching the annual pace in the previous month, according to data released by the Federal Statistical Office, or Destatis.
The slowdown in service inflation to 3.8% from 4.0% and the additional decline in energy prices to 1.8% from 1.6% were offset by a significant rise in food price inflation to 2.4% from 0.8%.
UK house prices advanced for the sixth month in a row in February as buyers continued to step up despite the slowing economic backdrop.
The Nationwide House Price Index increased 0.4% from the previous month and rose 3.9% on an annual basis in January.
The average price of a house purchased through the largest building society in the UK advanced to £270,493.
Europe Indexes and Yields
The DAX index decreased by 0.4% to 22,469.76, the CAC-40 index edged lower 0.4% to 8,071.14, and the FTSE 100 index advanced by 0.1% to 8,764.98.
The yield on 10-year German bonds inched lower to 2.39%, French bonds decreased to 3.12%, the UK gilts moved down to 4.49%, and Italian bonds edged lower to 3.46%.
The euro decreased to $1.04; the British pound was lower at $1.26; and the U.S. dollar was higher and traded at 90.18 Swiss cents.
Brent crude decreased $0.67 to $72.90 a barrel, and the Dutch TTF natural gas was higher by €0.56 to €45.79 per MWh.
Europe Stock Movers
Automakers extended losses for the second consecutive week amid a muted sales outlook in the European Union, falling sales in China, and rising trade barriers in the U.S.
Volkswagen AG decreased 0.5% to €106.30, Mercedes-Benz Group fell 0.9% to €59.46, and Renault SA fell 0.6% to €49.33.
Valeo SE plunged 9.5% to €9.82, and the French auto parts maker said new orders plunged after customers canceled orders because of economic uncertainty.
"New orders were down year on year, due to significant postponements by automaker customers who are reconsidering their product offerings and pushing back their decisions until 2025.
In addition, the unsettled economic and technological environment has led certain customers to cancel orders representing around 10% of order intake for 2022 and 2023, for a total of €7.3 billion," the company said in a statement to investors.
Allianz SE dropped 0.9% to €330.40, despite the German insurance company reporting strong results underpinned by strength in all business segments.
Pearson PLC jumped as much as 4% to 1,346.0 pence after the education company reported strong results and launched a new stock repurchase program.
International Consolidated Airlines Group SA jumped 5% to 355.80 pence after the parent company of British Airways, Aer Lingus, and Iberia reported record profit for the second consecutive year.
- Scott Peters
- 28 Feb, 2025
- New York City
Monster Beverage Corp. gained 3% to $53.51 after the energy drink maker reported stronger sales in the fourth quarter of 2024.
Net sales increased to $1.81 billion from $1.73 billion, net income declined to $270.71 million from $366.98 million, and earnings per diluted share fell to 28 cents from 35 cents a year ago.
The company gained market share leadership in a number of countries for its Monster Energy brand, including a very strong market presence in the Republic of Ireland, as reported by Nielsen.
The company is also exploring opportunities for distribution of its alcohol products in certain international markets.
During the fourth quarter, no shares of the company's common stock were repurchased, and as of February 26, approximately $500 million remained available for repurchase under the previously authorized repurchase program.
Duolingo Inc. plunged 7.4% to $348.02 despite the language learning platform operator reporting higher earnings for the fourth quarter of 2024.
Revenue increased 39% to $209.55 million from $150.98 million, and net and comprehensive income jumped 15% to $13.91 million from $12.12 million a year ago.
The monthly active users’ ratio advanced 32% to 116.7 million from 88.4 million, and paid subscribers amounted to 9.5 million, up 43% from 6.6 million a year ago.
The company introduced Video Call, a real-time conversation feature, and now aims to make it powered by an artificial intelligence conversation partner to further differentiate Duolingo Max as a premium offering.
Autodesk Inc. gained 1.3% to $285.99 after the engineering software and services provider reported a 12% revenue increase in the fourth quarter of fiscal 2025 ending in January.
Revenue increased to $1.64 billion from $1.47 billion, net income jumped to $303 million from $282 million, and earnings per diluted share rose to $1.40 from $1.31 a year ago.
The company guided for the first quarter of fiscal 2026 revenue between $1.60 billion and $1.61 billion, compared to $1.4 billion a year ago, and GAAP earnings per share between 76 cents and 90 cents, compared to $1.16 in the same quarter a year ago.
- Scott Peters
- 28 Feb, 2025
- New York City
Monster Beverage Corp. gained 3% to $53.51 after the energy drink maker reported stronger sales in the fourth quarter of 2024.
Net sales increased to $1.81 billion from $1.73 billion, net income declined to $270.71 million from $366.98 million, and earnings per diluted share fell to 28 cents from 35 cents a year ago.
The company gained market share leadership in a number of countries for its Monster Energy brand, including a very strong market presence in the Republic of Ireland, as reported by Nielsen.
The company is also exploring opportunities for distribution of its alcohol products in certain international markets.
During the fourth quarter, no shares of the company's common stock were repurchased, and as of February 26, approximately $500 million remained available for repurchase under the previously authorized repurchase program.
Duolingo Inc. plunged 7.4% to $348.02 despite the language learning platform operator reporting higher earnings for the fourth quarter of 2024.
Revenue increased 39% to $209.55 million from $150.98 million, and net and comprehensive income jumped 15% to $13.91 million from $12.12 million a year ago.
The monthly active users’ ratio advanced 32% to 116.7 million from 88.4 million, and paid subscribers amounted to 9.5 million, up 43% from 6.6 million a year ago.
The company introduced Video Call, a real-time conversation feature, and now aims to make it powered by an artificial intelligence conversation partner to further differentiate Duolingo Max as a premium offering.
Autodesk Inc. gained 1.3% to $285.99 after the engineering software and services provider reported a 12% revenue increase in the fourth quarter of fiscal 2025 ending in January.
Revenue increased to $1.64 billion from $1.47 billion, net income jumped to $303 million from $282 million, and earnings per diluted share rose to $1.40 from $1.31 a year ago.
The company guided for the first quarter of fiscal 2026 revenue between $1.60 billion and $1.61 billion, compared to $1.4 billion a year ago, and GAAP earnings per share between 76 cents and 90 cents, compared to $1.16 in the same quarter a year ago.
- Inga Muller
- 28 Feb, 2025
- Frankfurt
Saint-Gobain dropped 1.3% to €94.90 after the French producer of construction, high-performance, and other materials reported lower revenue in fiscal 2024 ending in December.
Sales dropped 2.9% to €46.57 billion from €47.94 billion, net income increased 6.6% to €2.84 billion from €2.67 billion, and earnings per diluted share rose 8.2% to €5.69 from €5.26 a year ago.
The company expects an operating margin of more than 11.0% in 2025, compared to 11.4% in 2024.
Saint-Gobain proposed a 5% increase of dividend to €2.20 per share for 2024, and its total shareholder return was 32%.
The company said it completed its share buyback program one year earlier than expected and announced a new €400 million stock repurchase program in 2025.
WPP Plc. plunged 15.6% to 650 pence after the UK-based advertising and public relations company offered a muted revenue outlook, impacted by weakness in China and U.S. uncertainty.
Revenue in fiscal 2024 declined 0.7% to £14.74 billion from £14.84 billion, profit dropped 5.6% to £969 million from £1.03 billion, and earnings per diluted share fell 5.9% to 88.3 pence from 93.8 pence a year ago.
The company guided comparable revenue to be flat to down 2%, with performance improving in the second half of 2025.
The advertising services provider said the operating margin is expected to be around flat, excluding the impact of foreign exchange.
Last year, WPP sold its majority stake in FGS Global for $1.7 billion, unlocking significant value for its shareholders.
Holcim AG dropped 0.6% to CHF 95.66 after the Swiss building materials manufacturer beat analyst expectations for the fourth quarter of 2024 ending in December.
Net sales declined 2.2% to CHF 26.41 billion from CHF 27.01 billion, net income fell 4.4% to CHF 2.93 billion from CHF 3.06 billion, and earnings per share decreased 2.3% to CHF 5.24 from CHF 5.37 a year ago.
Net sales in the fourth quarter dropped 1.9% to CHF 6.47 billion from CHF 6.60 billion a year ago.
The company guided for fiscal 2025 sales growth at mid-single digits in local currency, further expansion of recurring EBIT margin, and earnings per share up 5.3% to CHF 5.70 from CHF 5.24 a year ago.
Holcim proposed an 11% increase in dividend to CHF 3.10 per share.
The company plans the listing of its North American business, on track to occur by the end of the first half of 2025.
Pearson Plc. gained 1.4% to 1,335 pence after the U.K.-based educational publishing and services company reported higher profit in fiscal 2024 ending in December.
Sales declined to £3.55 billion from £3.67 billion, profit jumped to £435 million from £380 million, and earnings per diluted share rose to 63.5 pence from 52.7 pence a year ago.
The company proposed a final dividend of 16.6 pence per share, payable on May 9 to shareholders on the register as of March 21.
Rightmove Plc. gained 0.6% to 674 pence after the U.K.'s largest property portal reported a 7% revenue increase in fiscal 2024 ending in December.
Revenue increased to £389.88 million from £364.32 million, profit declined to £192.71 million from £199.15 million, and earnings per diluted share fell to 24.3 pence from 24.4 pence a year ago.
The company proposed a 7% increase in the final dividend for 2024 to 6.1 pence per share, compared to 5.7 pence per share in 2023, and the total dividend for 2024 is up 5% to 9.8 pence per share, compared to 9.3 pence per share in 2023.
Rightmove returned £181.7 million of surplus cash to shareholders through share buybacks and dividends during 2024, compared to £201.7 million in 2023.
The company guided for fiscal 2025 revenue growth between 8% and 10%, and an underlying operating margin of 70%, flat to 2024.
Teleperformance SE traded flat at €100.20 after the French business process outsourcing company reported revenue acceleration after a year of consolidation.
Revenue in fiscal 2024 increased to €10.28 billion from €8.34 billion, net profit declined to €523 million from €592 million, and earnings per diluted share fell to €8.71 from €10.01 a year ago.
Fourth-quarter revenue rose to €2.68 billion from €2.40 billion a year ago.
The company plans to launch a new investment program in artificial intelligence partnerships with a target of €100 million in 2025, after signing a first partnership with Sanas, a real-time speech understanding provider, on February 19.
- Inga Muller
- 28 Feb, 2025
- Frankfurt
Saint-Gobain dropped 1.3% to €94.90 after the French producer of construction, high-performance, and other materials reported lower revenue in fiscal 2024 ending in December.
Sales dropped 2.9% to €46.57 billion from €47.94 billion, net income increased 6.6% to €2.84 billion from €2.67 billion, and earnings per diluted share rose 8.2% to €5.69 from €5.26 a year ago.
The company expects an operating margin of more than 11.0% in 2025, compared to 11.4% in 2024.
Saint-Gobain proposed a 5% increase of dividend to €2.20 per share for 2024, and its total shareholder return was 32%.
The company said it completed its share buyback program one year earlier than expected and announced a new €400 million stock repurchase program in 2025.
WPP Plc. plunged 15.6% to 650 pence after the UK-based advertising and public relations company offered a muted revenue outlook, impacted by weakness in China and U.S. uncertainty.
Revenue in fiscal 2024 declined 0.7% to £14.74 billion from £14.84 billion, profit dropped 5.6% to £969 million from £1.03 billion, and earnings per diluted share fell 5.9% to 88.3 pence from 93.8 pence a year ago.
The company guided comparable revenue to be flat to down 2%, with performance improving in the second half of 2025.
The advertising services provider said the operating margin is expected to be around flat, excluding the impact of foreign exchange.
Last year, WPP sold its majority stake in FGS Global for $1.7 billion, unlocking significant value for its shareholders.
Holcim AG dropped 0.6% to CHF 95.66 after the Swiss building materials manufacturer beat analyst expectations for the fourth quarter of 2024 ending in December.
Net sales declined 2.2% to CHF 26.41 billion from CHF 27.01 billion, net income fell 4.4% to CHF 2.93 billion from CHF 3.06 billion, and earnings per share decreased 2.3% to CHF 5.24 from CHF 5.37 a year ago.
Net sales in the fourth quarter dropped 1.9% to CHF 6.47 billion from CHF 6.60 billion a year ago.
The company guided for fiscal 2025 sales growth at mid-single digits in local currency, further expansion of recurring EBIT margin, and earnings per share up 5.3% to CHF 5.70 from CHF 5.24 a year ago.
Holcim proposed an 11% increase in dividend to CHF 3.10 per share.
The company plans the listing of its North American business, on track to occur by the end of the first half of 2025.
Pearson Plc. gained 1.4% to 1,335 pence after the U.K.-based educational publishing and services company reported higher profit in fiscal 2024 ending in December.
Sales declined to £3.55 billion from £3.67 billion, profit jumped to £435 million from £380 million, and earnings per diluted share rose to 63.5 pence from 52.7 pence a year ago.
The company proposed a final dividend of 16.6 pence per share, payable on May 9 to shareholders on the register as of March 21.
Rightmove Plc. gained 0.6% to 674 pence after the U.K.'s largest property portal reported a 7% revenue increase in fiscal 2024 ending in December.
Revenue increased to £389.88 million from £364.32 million, profit declined to £192.71 million from £199.15 million, and earnings per diluted share fell to 24.3 pence from 24.4 pence a year ago.
The company proposed a 7% increase in the final dividend for 2024 to 6.1 pence per share, compared to 5.7 pence per share in 2023, and the total dividend for 2024 is up 5% to 9.8 pence per share, compared to 9.3 pence per share in 2023.
Rightmove returned £181.7 million of surplus cash to shareholders through share buybacks and dividends during 2024, compared to £201.7 million in 2023.
The company guided for fiscal 2025 revenue growth between 8% and 10% and an underlying operating margin of 70%, compared to 73% in 2023.
Teleperformance SE traded flat at €100.20 after the French business process outsourcing company reported revenue acceleration after a year of consolidation.
Revenue in fiscal 2024 increased to €10.28 billion from €8.34 billion, net profit declined to €523 million from €592 million, and earnings per diluted share fell to €8.71 from €10.01 a year ago.
Fourth-quarter revenue rose to €2.68 billion from €2.40 billion a year ago.
The company plans to launch a new investment program in artificial intelligence partnerships with a target of €100 million in 2025, after signing a first partnership with Sanas, a real-time speech understanding provider, on February 19.
- Akira Ito
- 28 Feb, 2025
- Tokyo
Stock market indexes in Tokyo turned sharply lower amid escalating trade tensions and rising U.S. economic policy uncertainty.
The Nikkei 225 stock average declined nearly 3%, and the broader TOPIX fell 2%, and they extended weekly losses to 4% and 2%, respectively.
Stocks in Japan and in Asia plunged after the U.S. president confirmed the start of a 25% tariff on goods shipped from Mexico and Canada from March 4.
In addition, the White House imposed an additional 10% tariff on top of the previously announced 10% tariffs a month ago on Chinese exports, increasing the total import tax on some Chinese products to as high as 60%.
The sharp escalation of tariffs weighed on the market sentiment, and softer-than-expected economic data also accelerated the market decline.
Tokyo-area consumer price inflation eased to 2.9% in February from 3.4% in January, according to data from the Ministry of Internal Affairs.
Local education subsidies and energy price relief played a role in keeping inflation down.
Consumer prices, which exclude food prices, rose 2.2%, and core inflation, which excludes food and energy prices, held steady at 1.9%.
Japan's retail sales in January advanced 3.9%, up from a downwardly revised 3.5% in December, according to the latest data available from the Ministry of Economy, Trade & Industry.
Retail sales advanced for the 34th month in a row and rose at the fastest pace since February 2024, driven by a steady rise in wages.
On a monthly basis, retail sales increased 0.5%, rebounding from an upwardly revised 0.8% decrease in December.
Another report by the ministry showed industrial production declined in January from the previous month by 1.1%, following a 0.2% fall in the previous month and extending losses to the third consecutive month.
On an annual basis, industrial production increased 2.6%, rebounding from a loss of 1.6% in December, and the first increase in three months.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 2.9% to 37,155.50, and the broader TOPIX dropped 2% to 2,682.09.
Semiconductor equipment makers faced selling in Friday's trading and extended weekly losses, tracking the decline in overnight trading in New York.
Tokyo Electron, Advantest, Disco Corp., and Lasertec Corp. fell between 6% and 9%.
- Akira Ito
- 28 Feb, 2025
- Tokyo
Stock market indexes in Tokyo turned sharply lower amid escalating trade tensions and rising U.S. economic policy uncertainty.
The Nikkei 225 stock average declined nearly 3%, and the broader TOPIX fell 2%, and they extended weekly losses to 4% and 2%, respectively.
Stocks in Japan and in Asia plunged after the U.S. president confirmed the start of a 25% tariff on goods shipped from Mexico and Canada from March 4.
In addition, the White House imposed an additional 10% tariff on top of the previously announced 10% tariffs a month ago on Chinese exports, increasing the total import tax on some Chinese products to as high as 60%.
The sharp escalation of tariffs weighed on the market sentiment, and softer-than-expected economic data also accelerated the market decline.
Tokyo-area consumer price inflation eased to 2.9% in February from 3.4% in January, according to data from the Ministry of Internal Affairs.
Local education subsidies and energy price relief played a role in keeping inflation down.
Consumer prices, which exclude food prices, rose 2.2%, and core inflation, which excludes food and energy prices, held steady at 1.9%.
Japan's retail sales in January advanced 3.9%, up from a downwardly revised 3.5% in December, according to the latest data available from the Ministry of Economy, Trade & Industry.
Retail sales advanced for the 34th month in a row and rose at the fastest pace since February 2024, driven by a steady rise in wages.
On a monthly basis, retail sales increased 0.5%, rebounding from an upwardly revised 0.8% decrease in December.
Another report by the ministry showed industrial production declined in January from the previous month by 1.1%, following a 0.2% fall in the previous month and extending losses to the third consecutive month.
On an annual basis, industrial production increased 2.6%, rebounding from a loss of 1.6% in December, and the first increase in three months.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 2.9% to 37,155.50, and the broader TOPIX dropped 2% to 2,682.09.
Semiconductor equipment makers faced selling in Friday's trading and extended weekly losses, tracking the decline in overnight trading in New York.
Tokyo Electron, Advantest, Disco Corp., and Lasertec Corp. fell between 6% and 9%.
- Li Chen
- 28 Feb, 2025
- Hong Kong
Stock market indexes in China and Hong Kong dropped sharply amid escalating trade tensions with the U.S.
The Hang Seng index dropped more than 3%, and the mainland-focused CSI 300 declined 2%, as investors worried that continual increases in the U.S. tariffs will dampen China's export growth.
For the week, the Hang Seng index and the CSI 300 index declined more than 2%, and they trimmed this year's gains.
The decline in Hong Kong indexes was driven by a sharp fall in tech and broader stock indexes on Wall Street as traders rotated out of stocks and chased rising bond yields.
The yield on the 10-year Treasury notes rose and approached 4.8%, and the additional U.S. tariffs are likely to fuel inflation, slow down economic growth, and encourage the Federal Reserve to keep higher interest rates for longer.
The latest market sell-off was sparked by comments from the U.S. president that goods from Mexico and Canada will face 25% tariffs as of next week.
Moreover, Chinese exports will face an additional tariff of 10% on top of the previously announced 10% tariffs a month ago.
Overall, many consumer and electronic goods shipped from mainland China now attract as much as 60% in tariffs, compared to no import tax in 2014.
Despite the Trump rhetoric and new tariffs, exports of goods made by Chinese companies to the U.S. will continue to rise over the next four years, as manufacturers shift production to Mexico, Vietnam, and the ASEAN region.
China Indexes and Stocks
The Hang Seng index declined 3.4% to 22,918.05, and the CSI 300 index dropped 2% to 3,890.05.
Internet platform operators and advanced technology companies extended weekly losses in Friday's trading, as new U.S. tariffs could spark a slowdown in sales.
Moreover, the DeepSeek-driven rally faced a wall of stretched valuation and growing skepticism that the emergence of affordable artificial intelligence may fall short in delivering earnings growth as widely anticipated.
Alibaba Group Holding decreased 5.8% to HK $127.90, Tencent Holdings dropped 3.3% to HK $478.80, and JD.com fell 4.4% to HK $160.0.
- Li Chen
- 28 Feb, 2025
- Hong Kong
Stock market indexes in China and Hong Kong dropped sharply amid escalating trade tensions with the U.S.
The Hang Seng index dropped more than 3%, and the mainland-focused CSI 300 declined 2%, as investors worried that continual increases in the U.S. tariffs will dampen China's export growth.
For the week, the Hang Seng index and the CSI 300 index declined more than 2%, and they trimmed this year's gains.
The decline in Hong Kong indexes was driven by a sharp fall in tech and broader stock indexes on Wall Street as traders rotated out of stocks and chased rising bond yields.
The yield on the 10-year Treasury notes rose and approached 4.8%, and the additional U.S. tariffs are likely to fuel inflation, slow down economic growth, and encourage the Federal Reserve to keep higher interest rates for longer.
The latest market sell-off was sparked by comments from the U.S. president that goods from Mexico and Canada will face 25% tariffs as of next week.
Moreover, Chinese exports will face an additional tariff of 10% on top of the previously announced 10% tariffs a month ago.
Overall, many consumer and electronic goods shipped from mainland China now attract as much as 60% in tariffs, compared to no import tax in 2014.
Despite the Trump rhetoric and new tariffs, exports of goods made by Chinese companies to the U.S. will continue to rise over the next four years, as manufacturers shift production to Mexico, Vietnam, and the ASEAN region.
China Indexes and Stocks
The Hang Seng index declined 3.4% to 22,918.05, and the CSI 300 index dropped 2% to 3,890.05.
Internet platform operators and advanced technology companies extended weekly losses in Friday's trading, as new U.S. tariffs could spark a slowdown in sales.
Moreover, the DeepSeek-driven rally faced a wall of stretched valuation and growing skepticism that the emergence of affordable artificial intelligence may fall short in delivering earnings growth as widely anticipated.
Alibaba Group Holding decreased 5.8% to HK $127.90, Tencent Holdings dropped 3.3% to HK $478.80, and JD.com fell 4.4% to HK $160.0.
- Arun Goswami
- 28 Feb, 2025
- Mumbai
Cummins India Ltd. dropped 2.5% to ₹2,744.40 despite diesel and natural gas engine makers reporting a slight increase in net income and a 22% jump in revenue in the December quarter.
Consolidated revenue increased to ₹3,207.5 crore from ₹2,640.8 crore, after-tax profit rose to ₹558.5 crore from ₹498.9 crore, and diluted earnings per share jumped to ₹20.15 from ₹18 a year ago.
The company's board declared a third interim dividend for the financial year 2025 of ₹18 per share.
Exicom Tele-Systems Ltd. decreased 3.4% to ₹154.90 after the electric vehicle charging solution provider swung to a loss in the December quarter.
Consolidated revenue declined to ₹202.9 crore from ₹265.3 crore, after-tax losses swung to ₹49 crore from a profit of ₹9 crore, and diluted losses per share swung to ₹4.05 from a profit of 98 paisa a year ago.
Welspun Corp Ltd. fell 2.7% to ₹736.10 despite the steel and plastic pipes maker reporting a two-fold increase in net income in the December quarter.
Consolidated revenue decreased to ₹3,656.6 crore from ₹4,758.2 crore, after-tax profit rose to ₹672.2 crore from ₹293.7 crore, and diluted earnings per share jumped to ₹26.60 from ₹11.13 a year ago.
The company's board declared a third interim dividend for the financial year 2025 of ₹5 per share.
Gujarat Gas Ltd. plunged 0.9% to ₹376.75 despite the gas distribution company reporting a slight increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹4,391 crore from ₹4,107.3 crore, net income increased to ₹221.6 crore from ₹220.3 crore, and diluted earnings per share rose to ₹3.22 from ₹3.20 a year ago.
Info Edge Ltd. declined 5% to ₹7,016.65 despite the company reporting a two-and-a-half-fold increase in earnings in the December quarter.
Consolidated revenue decreased to ₹9,094.8 crore from ₹9,194.5 crore, after-tax profit rose to ₹2,884.2 crore from ₹1,194.5 crore, and diluted earnings per share jumped to ₹22.18 from ₹11.26 a year ago.
The company's board declared a third interim dividend for the financial year 2025 of ₹12 per share.
Abbott India Ltd. dropped 2% to ₹2,935 after the company reported a 13% increase in revenue in the December quarter.
Consolidated revenue advanced to ₹1,686 crore from ₹1,492.8 crore, net income increased to ₹360.8 crore from ₹311 crore, and diluted earnings per share rose to ₹169.78 from ₹146.89 a year ago.
GE Vernova Ltd. fell 2.9% to ₹1,336.30 despite the energy company reporting a three-fold increase in earnings in the December quarter.
Consolidated revenue increased to ₹1,099.4 crore from ₹834.7 crore, after-tax profit jumped to ₹142.6 crore from ₹49.3 crore, and diluted earnings per share rose to ₹5.57 from ₹1.93 a year ago.
Symphony Ltd. decreased 2% to ₹1,085.35 after the home appliances company swung to a loss in the December quarter.
Consolidated revenue advanced to ₹249 crore from ₹262 crore, after-tax losses swung to ₹10 crore from a profit of ₹41 crore, and diluted losses per share swung to ₹1.37 from a profit of ₹8.11 a year ago.
- Arun Goswami
- 28 Feb, 2025
- Mumbai
Cummins India Ltd. dropped 2.5% to ₹2,744.40 despite diesel and natural gas engine makers reporting a slight increase in net income and a 22% jump in revenue in the December quarter.
Consolidated revenue increased to ₹3,207.5 crore from ₹2,640.8 crore, after-tax profit rose to ₹558.5 crore from ₹498.9 crore, and diluted earnings per share jumped to ₹20.15 from ₹18 a year ago.
The company's board declared a third interim dividend for the financial year 2025 of ₹18 per share.
Exicom Tele-Systems Ltd. decreased 3.4% to ₹154.90 after the electric vehicle charging solution provider swung to a loss in the December quarter.
Consolidated revenue declined to ₹202.9 crore from ₹265.3 crore, after-tax losses swung to ₹49 crore from a profit of ₹9 crore, and diluted losses per share swung to ₹4.05 from a profit of 98 paisa a year ago.
Welspun Corp Ltd. fell 2.7% to ₹736.10 despite the steel and plastic pipes maker reporting a two-fold increase in net income in the December quarter.
Consolidated revenue decreased to ₹3,656.6 crore from ₹4,758.2 crore, after-tax profit rose to ₹672.2 crore from ₹293.7 crore, and diluted earnings per share jumped to ₹26.60 from ₹11.13 a year ago.
The company's board declared a third interim dividend for the financial year 2025 of ₹5 per share.
Gujarat Gas Ltd. plunged 0.9% to ₹376.75 despite the gas distribution company reporting a slight increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹4,391 crore from ₹4,107.3 crore, net income increased to ₹221.6 crore from ₹220.3 crore, and diluted earnings per share rose to ₹3.22 from ₹3.20 a year ago.
Info Edge Ltd. declined 5% to ₹7,016.65 despite the company reporting a two-and-a-half-fold increase in earnings in the December quarter.
Consolidated revenue decreased to ₹9,094.8 crore from ₹9,194.5 crore, after-tax profit rose to ₹2,884.2 crore from ₹1,194.5 crore, and diluted earnings per share jumped to ₹22.18 from ₹11.26 a year ago.
The company's board declared a third interim dividend for the financial year 2025 of ₹12 per share.
Abbott India Ltd. dropped 2% to ₹2,935 after the company reported a 13% increase in revenue in the December quarter.
Consolidated revenue advanced to ₹1,686 crore from ₹1,492.8 crore, net income increased to ₹360.8 crore from ₹311 crore, and diluted earnings per share rose to ₹169.78 from ₹146.89 a year ago.
GE Vernova Ltd. fell 2.9% to ₹1,336.30 despite the energy company reporting a three-fold increase in earnings in the December quarter.
Consolidated revenue increased to ₹1,099.4 crore from ₹834.7 crore, after-tax profit jumped to ₹142.6 crore from ₹49.3 crore, and diluted earnings per share rose to ₹5.57 from ₹1.93 a year ago.
Symphony Ltd. decreased 2% to ₹1,085.35 after the home appliances company swung to a loss in the December quarter.
Consolidated revenue advanced to ₹249 crore from ₹262 crore, after-tax losses swung to ₹10 crore from a profit of ₹41 crore, and diluted losses per share swung to ₹1.37 from a profit of ₹8.11 a year ago.