- Li Chen
- 22 Aug, 2025
- Hong Kong
Benchmark indexes in China and Hong Kong resumed their upward march, as investors sought bargains and chased returns.
The Hang Seng Index edged up 0.3%, the mainland-focused CSI 300 index gained 1.1%, and investors rotated into stock from fixed-income securities.
The low interest rates, persistent malaise in the property market, and record-high prices in gold have driven investors to riskier assets.
Investors are rotating out of fixed-income securities and products and increasing exposure to stocks.
Foreign investors have been increasing exposure to China stocks trading in Hong Kong amid low valuation and a stable earnings growth outlook.
Economists are estimating that China's economy will deliver the growth rate of 5% set by the government, despite the ongoing trade tensions with the U.S.
State-controlled financial companies are increasing their exposure to mainland-China-based stocks as well.
China Indexes and Stocks
The Hang Seng Index increased 0.3% to 25,184.66, and the CSI 300 Index rose 1.1% to 4,338.65.
For the week, the CSI 300 index gained 2.9% and the Hang Seng trimmed losses to 0.5%.
Kuaishou Technology gained 3.5% to HK $74.60, and the short-video sharing platform operator reported better-than-expected profit in the latest quarter and declared a special dividend.
Semiconductor Manufacturing International gained 6.5% to HK $54.95 after a report suggested that Nvidia is looking to halt production of the China-focused H20 chip for artificial intelligence applications.
Stock brokerage firms advanced as investors rotated their investments from fixed-income securities into stocks.
CSC Financial added 3.9% to HK $14.75, Everbright Securities gained 2.8% to HK $11.59, and China Galaxy Securities added 0.2% to HK $12.30.
- Li Chen
- 22 Aug, 2025
- Hong Kong
Benchmark indexes in China and Hong Kong resumed their upward march, as investors sought bargains and chased returns.
The Hang Seng Index edged up 0.3%, the mainland-focused CSI 300 index gained 1.1%, and investors rotated into stock from fixed-income securities.
The low interest rates, persistent malaise in the property market, and record-high prices in gold have driven investors to riskier assets.
Investors are rotating out of fixed-income securities and products and increasing exposure to stocks.
Foreign investors have been increasing exposure to China stocks trading in Hong Kong amid low valuation and a stable earnings growth outlook.
Economists are estimating that China's economy will deliver the growth rate of 5% set by the government, despite the ongoing trade tensions with the U.S.
State-controlled financial companies are increasing their exposure to mainland-China-based stocks as well.
China Indexes and Stocks
The Hang Seng Index increased 0.3% to 25,184.66, and the CSI 300 Index rose 1.1% to 4,338.65.
For the week, the CSI 300 index gained 2.9% and the Hang Seng trimmed losses to 0.5%.
Kuaishou Technology gained 3.5% to HK $74.60, and the short-video sharing platform operator reported better-than-expected profit in the latest quarter and declared a special dividend.
Semiconductor Manufacturing International gained 6.5% to HK $54.95 after a report suggested that Nvidia is looking to halt production of the China-focused H20 chip for artificial intelligence applications.
Stock brokerage firms advanced as investors rotated their investments from fixed-income securities into stocks.
CSC Financial added 3.9% to HK $14.75, Everbright Securities gained 2.8% to HK $11.59, and China Galaxy Securities added 0.2% to HK $12.30.
- Scott Peters
- 21 Aug, 2025
- New York City
TJX Companies Inc. inched higher 2.2% to $139.24, and the off-price apparel and home fashion retailer reported a 9% increase in its earnings in the latest quarter.
Consolidated revenue in the fiscal second quarter ending on August 2 increased 4% to $14.4 billion from $13.5 billion, net income jumped to $1.2 billion from $1.1 billion, and diluted earnings per share rose to $1.10 from 96 paise a year ago.
Consolidated comparable same-store sales rose 4% from a year ago, surpassing the management's expectations.
Comparable store sales at the U.S. Marmaxx locations, which include Marshalls and TJ Maxx stores, rose 5% compared to 3%; Home Goods slowed to 2% from 5%; and in Canada eased to 2% from 9% a year ago, respectively.
During the second quarter, TJX returned a total of $1.0 billion to shareholders through share repurchases and dividends, including the repurchase of 4.1 million shares for $515 million, and paid $474 million in shareholder dividends.
During the first half of fiscal 2026, TJX returned a total of $2.0 billion to shareholders through share repurchases and dividends, including the repurchase of 9.2 million shares for $1.1 billion, and paid $894 million in shareholder dividends.
TJX guided fiscal third-quarter consolidated comparable sales to increase between 2% and 3%, with a pretax profit margin between 12.0% and 12.1%, and diluted earnings per share between $1.17 and $1.19 a quarter ago.
TJX guided full-year consolidated comparable sales to increase by 3%, with a pretax profit margin between 11.4% and 11.5%, and diluted earnings per share between $4.52 and $4.57 a year ago.
The company projects share repurchases between $2.0 and $2.5 billion during the fiscal year ending January 31, 2026.
Lowe's Companies Inc. rose 2.5% to $264.13, and the home improvement retailer reported a rise in net income in the second quarter.
Consolidated revenue inched higher to $24 billion from $23.6 billion, net income climbed to $2.40 billion from $2.38 billion, and diluted earnings per share soared to $4.28 from $4.18 a year ago.
During the quarter, the company invested $1.3 billion for the acquisition of Artisan Design Group and paid $645 million in dividends.
Lowe's estimated full-year total sales to be between $84.5 billion and $85.5 billion, comparable sales to increase by 1%, and diluted earnings per share to be between $12.10 and $12.35, with the effective tax rate to be approximately 24.5% and the operating margin to range between 12.1% and 12.2% a year earlier, respectively.
Target Corp. plunged 9.5% to $96.90 after the big-box retailer reported a decline in sales in the second quarter, and same-store sales and consumer transactions also declined.
Consolidated revenue in the fiscal second quarter ending on August 2 edged down 0.9% to $25.2 billion from $25.4 billion, net income plunged 22% to $935 million from $1.2 billion, and diluted earnings per share fell to $2.06 from $2.58 a year ago.
During the second quarter, Target increased dividends per share by 1.8% and paid $509 million to its shareholders.
Comparable sales declined 1.9% in the fiscal second quarter, driven by a 3.2% drop in comparable store sales, partially offset by a 4.3% increase in comparable digital sales.
For the fiscal year, the company retained its outlook of a single-digit decline in sales and earnings per share between $8.0 and $10.0.
The retailer estimated adjusted earnings per share, which excludes gains from litigation settlements in the first quarter, to fall between $7.0 and $9.0.
In addition, the company announced that the longtime CEO Brian Cornell would retire in February, and chief operating officer Michael Fiddelke, a two-decade veteran at the company, will assume the post on February 1.
- Scott Peters
- 20 Aug, 2025
- New York City
TJX Companies Inc. inched higher 2.2% to $139.24, and the off-price apparel and home fashion retailer reported a 9% increase in its earnings in the latest quarter.
Consolidated revenue in the fiscal second quarter ending on August 2 increased 4% to $14.4 billion from $13.5 billion, net income jumped to $1.2 billion from $1.1 billion, and diluted earnings per share rose to $1.10 from 96 paise a year ago.
Consolidated comparable same-store sales rose 4% from a year ago, surpassing the management's expectations.
Comparable store sales at the U.S. Marmaxx locations, which include Marshalls and TJ Maxx stores, rose 5% compared to 3%; Home Goods slowed to 2% from 5%; and in Canada eased to 2% from 9% a year ago, respectively.
During the second quarter, TJX returned a total of $1.0 billion to shareholders through share repurchases and dividends, including the repurchase of 4.1 million shares for $515 million, and paid $474 million in shareholder dividends.
During the first half of fiscal 2026, TJX returned a total of $2.0 billion to shareholders through share repurchases and dividends, including the repurchase of 9.2 million shares for $1.1 billion, and paid $894 million in shareholder dividends.
TJX guided fiscal third-quarter consolidated comparable sales to increase between 2% and 3%, with a pretax profit margin between 12.0% and 12.1%, and diluted earnings per share between $1.17 and $1.19 a quarter ago.
TJX guided full-year consolidated comparable sales to increase by 3%, with a pretax profit margin between 11.4% and 11.5%, and diluted earnings per share between $4.52 and $4.57 a year ago.
The company projects share repurchases between $2.0 and $2.5 billion during the fiscal year ending January 31, 2026.
Lowe's Companies Inc. rose 2.5% to $264.13, and the home improvement retailer reported a rise in net income in the second quarter.
Consolidated revenue inched higher to $24 billion from $23.6 billion, net income climbed to $2.40 billion from $2.38 billion, and diluted earnings per share soared to $4.28 from $4.18 a year ago.
During the quarter, the company invested $1.3 billion for the acquisition of Artisan Design Group and paid $645 million in dividends.
Lowe's estimated full-year total sales to be between $84.5 billion and $85.5 billion, comparable sales to increase by 1%, and diluted earnings per share to be between $12.10 and $12.35, with the effective tax rate to be approximately 24.5% and the operating margin to range between 12.1% and 12.2% a year earlier, respectively.
Target Corp. plunged 9.5% to $96.90 after the big-box retailer reported a decline in sales in the second quarter, and same-store sales and consumer transactions also declined.
Consolidated revenue in the fiscal second quarter ending on August 2 edged down 0.9% to $25.2 billion from $25.4 billion, net income plunged 22% to $935 million from $1.2 billion, and diluted earnings per share fell to $2.06 from $2.58 a year ago.
During the second quarter, Target increased dividends per share by 1.8% and paid $509 million to its shareholders.
Comparable sales declined 1.9% in the fiscal second quarter, driven by a 3.2% drop in comparable store sales, partially offset by a 4.3% increase in comparable digital sales.
For the fiscal year, the company retained its outlook of a single-digit decline in sales and earnings per share between $8.0 and $10.0.
The retailer estimated adjusted earnings per share, which excludes gains from litigation settlements in the first quarter, to fall between $7.0 and $9.0.
In addition, the company announced that the longtime CEO Brian Cornell would retire in February, and chief operating officer Michael Fiddelke, a two-decade veteran at the company, will assume the post on February 1.
- Barry Adams
- 21 Aug, 2025
- New York City
The U.S. benchmark indexes extended losses to the fifth session in a row, driven by a sell-off in tech stocks.
The S&P 500 index declined 0.2%, and the tech-heavy Nasdaq Composite decreased 0.3%, as investors booked profit in high-flying tech stocks.
The leading technology stocks have rebounded as much as 80% from the lows reached on April 21, after worries of a global trade war receded.
Despite the sharp rebound, tariff uncertainty looms, and the de minimis exemption of $800 per day is set to expire today.
U.S. EU Shed More Light on Tariff Details, High Auto Duties to Stay for Now
The U.S. and the European Union announced more details about the trade framework agreed upon in July.
The U.S. is committed to “apply the higher of either the U.S. Most Favored Nation (MFN) tariff rate or a tariff rate of 15%, comprised of the MFN tariff and a reciprocal tariff, on originating goods of the European Union.”
Most goods shipped from the European Union will attract 15% tariffs, including lumber, pharmaceuticals, and semiconductors.
The U.S. tariffs on vehicles shipped from the European Union could drop to 15% from 25% once the EU introduces legislation to remove all tariffs on U.S. industrial goods.
In addition, the European Union will eliminate tariffs on all U.S. industrial goods and provide "preferential market access" to a wider range of U.S. agricultural products and seafood.
Continuing Jobless Claims Near Two Million Mark
Initial jobless claims for the week ending on August 16 advanced to 235,000, an increase of 11,000 from the previous week, according to the U.S. Department of Labor.
Continuing claims, which lags by one week, rose by 30,000 to 1.97 million, and reached the highest level since November 6, 2021.
The jobless claims report provides another data point to policymakers, and confirms the muted hiring activity amid a slowdown in the labor market as businesses struggle with uncertainty stemming from the constantly changing U.S. trade policy.
U.S. Stock Movers
Coty Inc. dropped 21% to $3.85, and the cosmetic company reported weaker-than-expected fiscal first-quarter results.
In addition, the retailer said sales and earnings in the first half are likely to remain depressed before they recover in the second half.
Walmart Inc. decreased 3.2% to $99.36, and the retailer's fiscal second-quarter earnings fell short of market expectations.
- Barry Adams
- 21 Aug, 2025
- New York City
The U.S. benchmark indexes extended losses to the fifth session in a row, driven by a sell-off in tech stocks.
The S&P 500 index declined 0.2%, and the tech-heavy Nasdaq Composite decreased 0.3%, as investors booked profit in high-flying tech stocks.
The leading technology stocks have rebounded as much as 80% from the lows reached on April 21, after worries of a global trade war receded.
Despite the sharp rebound, tariff uncertainty looms, and the de minimis exemption of $800 per day is set to expire today.
The U.S. and the European Union announced more details about the trade framework agreed upon in July.
The U.S. is committed to “apply the higher of either the U.S. Most Favored Nation (MFN) tariff rate or a tariff rate of 15%, comprised of the MFN tariff and a reciprocal tariff, on originating goods of the European Union.”
Most goods shipped from the European Union will attract 15% tariffs, including lumber, pharmaceuticals, and semiconductors.
The U.S. tariffs on vehicles shipped from the European Union could drop to 15% from 25% once the EU introduces legislation to remove all tariffs on U.S. industrial goods.
In addition, the European Union will eliminate tariffs on all U.S. industrial goods and provide "preferential market access" to a wider range of U.S. agricultural products and seafood.
U.S. Stock Movers
Coty Inc. dropped 21% to $3.85, and the cosmetic company reported weaker-than-expected fiscal first-quarter results.
In addition, the retailer said sales and earnings in the first half are likely to remain depressed before they recover in the second half.
Walmart Inc. decreased 3.2% to $99.36, and the retailer's fiscal second-quarter earnings fell short of market expectations.
- Scott Peters
- 20 Aug, 2025
- New York City
Home Depot Inc. increased 0.1% to $407.69 after the home improvement retailer reported a slight increase in revenue and a marginal decline in net income in the latest quarter.
Consolidated revenue increased 4.9% to $45.3 billion from $43.2 billion, net income inched lower 0.2% to $4.55 billion from $4.56 billion, and diluted earnings per share edged down 0.4% to $4.58 from $4.60 a year ago.
Home Depot estimated full-year total sales to increase by 2.8%, comparable sales to increase by 1%, but diluted earnings per share to decline by 3% from a year ago to $14.91.
The company said it plans to open approximately 13 new stores during the fiscal year 2025.
Medtronic Plc. rose 0.2% to $90.04 after the medical device maker reported a marginal decline in profit in the fiscal first quarter ending on July 25.
Consolidated revenue in the quarter increased 8.4% to $8.6 billion from $7.9 billion, net income inched lower to $1.047 billion from $1.049 billion, and diluted earnings per share edged higher to 81 cents from 80 cents a year ago.
The company guided full-year revenue to rise between 6.5% and 6.8% and non-GAAP earnings per share to rise approximately 4.5% and range between $5.60 and $5.66.
Toll Brothers Inc. declined 1.7% to $130, and the expensive home builder reported a decline in profit in the fiscal third quarter ending in July.
Consolidated revenue in the quarter increased to $2.95 billion from $2.72 billion, net income declined to $369.6 million from $374.6 million, and diluted earnings per share edged higher to $3.73 from $3.60 a year ago.
On July 25, the company paid a quarterly dividend of $0.25 per share to shareholders on record on July 11.
During the fiscal third quarter, Toll Brothers returned a total of $226 million to shareholders through share repurchases and dividends, including the repurchase of 1.8 million shares at an average price of $112.40 per share.
For the fiscal fourth quarter, Toll Brothers expects the average delivered price per home to be between $0.97 million and $0.98 million, the adjusted home sales gross margin to be 27%, and SG&A to be 8.3% of revenue.
The company delivered 2,959 homes at an average price of $974,000, generating record fiscal third-quarter home sales revenue of $2.9 billion, said chairman and chief executive officer Douglas C. Yearley Jr.
In the quarter, the company signed home sales contracts worth $2.41 billion, matching the contract value a year ago, but contracted home units fell 4% to 2,388.
The average sale price of a new home contract was $1.0 million, up 4.5% from a year ago.
The backlog value decreased 10% to $6.38 billion at the end of the third quarter, and homes in backlog were 5,492, down 19% from a year ago, respectively.
- Scott Peters
- 20 Aug, 2025
- New York City
Home Depot Inc. increased 0.1% to $407.69 after the home improvement retailer reported a slight increase in revenue and a marginal decline in net income in the latest quarter.
Consolidated revenue increased 4.9% to $45.3 billion from $43.2 billion, net income inched lower 0.2% to $4.55 billion from $4.56 billion, and diluted earnings per share edged down 0.4% to $4.58 from $4.60 a year ago.
Home Depot estimated full-year total sales to increase by 2.8%, comparable sales to increase by 1%, but diluted earnings per share to decline by 3% from a year ago to $14.91.
The company said it plans to open approximately 13 new stores during the fiscal year 2025.
Medtronic Plc. rose 0.2% to $90.04 after the medical device maker reported a marginal decline in profit in the fiscal first quarter ending on July 25.
Consolidated revenue in the quarter increased 8.4% to $8.6 billion from $7.9 billion, net income inched lower to $1.047 billion from $1.049 billion, and diluted earnings per share edged higher to 81 cents from 80 cents a year ago.
The company guided full-year revenue to rise between 6.5% and 6.8% and non-GAAP earnings per share to rise approximately 4.5% and range between $5.60 and $5.66.
Toll Brothers Inc. declined 1.7% to $130, and the expensive home builder reported a decline in profit in the fiscal third quarter ending in July.
Consolidated revenue in the quarter increased to $2.95 billion from $2.72 billion, net income declined to $369.6 million from $374.6 million, and diluted earnings per share edged higher to $3.73 from $3.60 a year ago.
On July 25, the company paid a quarterly dividend of $0.25 per share to shareholders on record on July 11.
During the fiscal third quarter, Toll Brothers returned a total of $226 million to shareholders through share repurchases and dividends, including the repurchase of 1.8 million shares at an average price of $112.40 per share.
For the fiscal fourth quarter, Toll Brothers expects the average delivered price per home to be between $0.97 million and $0.98 million, the adjusted home sales gross margin to be 27%, and SG&A to be 8.3% of revenue.
The company delivered 2,959 homes at an average price of $974,000, generating record fiscal third-quarter home sales revenue of $2.9 billion, said chairman and chief executive officer Douglas C. Yearley Jr.
In the quarter, the company signed home sales contracts worth $2.41 billion, matching the contract value a year ago, but contracted home units fell 4% to 2,388.
The average sale price of a new home contract was $1.0 million, up 4.5% from a year ago.
The backlog value decreased 10% to $6.38 billion at the end of the third quarter, and homes in backlog were 5,492, down 19% from a year ago, respectively.
- Akira Ito
- 21 Aug, 2025
- Tokyo
Japan's stock market indexes extended losses for the third consecutive session, following a tech sell-off on Wall Street.
The Nikkei 225 Stock Average fell 0.7%, and the broader Topix decreased 0.7%, amid the unwinding of a rally in artificial intelligence-linked stocks.
On the domestic front, Japan's manufacturing sector activities edged closer to stability, but the services sector growth stabilized.
The S&P Global Japan Manufacturing PMI inched higher to 49.9 in August from a final 48.9 in July.
The manufacturing sector activity growth contracted for the 13th month over the past 14-month period.
The weakness in exports, which weighed on the overall activity levels in the sector, highlighted the sector's vulnerability to the U.S. trade policy.
The S&P Global Japan Services PMI slowed to 52.7 in August from 53.6 in July, indicating a softer level of activities.
The composite PMI output index, which includes manufacturing and services, inched higher to 51.9 in August from 51.6 in July.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.7% to 42,590.21, and the broader Topix fell 0.5% to 3,084.38.
Tech stocks led the decliners in Tokyo, following the weakness in artificial intelligence-related stocks.
Tokyo Electron Ltd. decreased 2.3% to ¥20,435.0, Advantest Corp. gained 2% to ¥10,975.0, Lasertec Corp. fell 3% to ¥15,655.0, and Disco Corp. eased 1.4% to ¥38,760.0.
Daiichi Sankyo Ltd. decreased 7% to ¥3,718.0, Takeda Pharmaceutical Co. Ltd. edged down 0.7% to ¥4,533.0, and Astellas Pharma dropped 1.1% to ¥1,677.50.
- Akira Ito
- 21 Aug, 2025
- Tokyo
Japan's stock market indexes extended losses for the third consecutive session, following a tech sell-off on Wall Street.
The Nikkei 225 Stock Average fell 0.7%, and the broader Topix decreased 0.7%, amid the unwinding of a rally in artificial intelligence-linked stocks.
On the domestic front, Japan's manufacturing sector activities edged closer to stability, but the services sector growth stabilized.
The S&P Global Japan Manufacturing PMI inched higher to 49.9 in August from a final 48.9 in July.
The manufacturing sector activity growth contracted for the 13th month over the past 14-month period.
The weakness in exports, which weighed on the overall activity levels in the sector, highlighted the sector's vulnerability to the U.S. trade policy.
The S&P Global Japan Services PMI slowed to 52.7 in August from 53.6 in July, indicating a softer level of activities.
The composite PMI output index, which includes manufacturing and services, inched higher to 51.9 in August from 51.6 in July.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.7% to 42,590.21, and the broader Topix fell 0.5% to 3,084.38.
Tech stocks led the decliners in Tokyo, following the weakness in artificial intelligence-related stocks.
Tokyo Electron Ltd. decreased 2.3% to ¥20,435.0, Advantest Corp. gained 2% to ¥10,975.0, Lasertec Corp. fell 3% to ¥15,655.0, and Disco Corp. eased 1.4% to ¥38,760.0.
Daiichi Sankyo Ltd. decreased 7% to ¥3,718.0, Takeda Pharmaceutical Co. Ltd. edged down 0.7% to ¥4,533.0, and Astellas Pharma dropped 1.1% to ¥1,677.50.
- Akira Ito
- 21 Aug, 2025
- Tokyo
- Akira Ito
- 21 Aug, 2025
- Tokyo
Japan's stock market indexes extended losses for the third consecutive session, following a tech sell-off on Wall Street.
The Nikkei 225 Stock Average fell 0.7%, and the broader Topix decreased 0.7%, amid the unwinding of a rally in artificial intelligence-linked stocks.
On the domestic front, Japan's manufacturing sector activities edged closer to stability, but the services sector growth stabilized.
The S&P Global Japan Manufacturing PMI inched higher to 49.9 in August from a final 48.9 in July.
The manufacturing sector activity growth contracted for the 13th month over the past 14-month period.
The weakness in exports, which weighed on the overall activity levels in the sector, highlighted the sector's vulnerability to the U.S. trade policy.
The S&P Global Japan Services PMI slowed to 52.7 in August from 53.6 in July, indicating a softer level of activities.
The composite PMI output index, which includes manufacturing and services, inched higher to 51.9 in August from 51.6 in July.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.7% to 42,590.21, and the broader Topix fell 0.5% to 3,084.38.
Tech stocks led the decliners in Tokyo, following the weakness in artificial intelligence-related stocks.
Tokyo Electron Ltd. decreased 2.3% to ¥20,435.0, Advantest Corp. gained 2% to ¥10,975.0, Lasertec Corp. fell 3% to ¥15,655.0, and Disco Corp. eased 1.4% to ¥38,760.0.
Daiichi Sankyo Ltd. decreased 7% to ¥3,718.0, Takeda Pharmaceutical Co. Ltd. edged down 0.7% to ¥4,533.0, and Astellas Pharma dropped 1.1% to ¥1,677.50.
- Li Chen
- 21 Aug, 2025
- Hong Kong
China and Hong Kong indexes diverged on Thursday as investors focused on the latest batch of earnings and debated the rate path.
The Hang Seng index eased 0.1%, the mainland-focused CSI 300 index inched higher 0.7%, and Hong Kong investors held out for a possible rate cut by the U.S. Federal Reserve next month.
Mainland stocks advanced for the sixth consecutive session amid sustained buying by the large state-controlled institutions and individual investors.
Last week, China released a mixed batch of economic data that is weighing on investor sentiment.
Cautious consumers, persistent residential real estate market weakness, and uncertain U.S. trade policy are some of the key factors denting the market sentiment.
Moreover, the job market is facing additional headwinds as large- and medium-sized businesses accelerate their investments in the ASEAN region, Mexico, and Brazil.
China Indexes and Stocks
The Hang Seng index decreased 0.1% to 25,130.51, and the mainland-focused CSI 300 index edged up 0.7% to 4,301.71.
Baidu Inc. decreased 2.6% to HK $85.10 after the search engine company reported the largest decline in quarterly revenue in about three years.
Meituan dropped 1.5% to HK $119.0, JD.com Inc. fell 0.6% to HK $122.10, and Alibaba Group Holding eased 0.5% to HK $116.80.
Hong Kong Exchanges and Clearing Ltd. edged up 0.6% to HK $443.80, and the financial services provider reported a 39% increase in profit in the first half.
- Li Chen
- 21 Aug, 2025
- Hong Kong
China and Hong Kong indexes diverged on Thursday as investors focused on the latest batch of earnings and debated the rate path.
The Hang Seng index eased 0.1%, the mainland-focused CSI 300 index inched higher 0.7%, and Hong Kong investors held out for a possible rate cut by the U.S. Federal Reserve next month.
Mainland stocks advanced for the sixth consecutive session amid sustained buying by the large state-controlled institutions and individual investors.
Last week, China released a mixed batch of economic data that is weighing on investor sentiment.
Cautious consumers, persistent residential real estate market weakness, and uncertain U.S. trade policy are some of the key factors denting the market sentiment.
Moreover, the job market is facing additional headwinds as large- and medium-sized businesses accelerate their investments in the ASEAN region, Mexico, and Brazil.
China Indexes and Stocks
The Hang Seng index decreased 0.1% to 25,130.51, and the mainland-focused CSI 300 index edged up 0.7% to 4,301.71.
Baidu Inc. decreased 2.6% to HK $85.10 after the search engine company reported the largest decline in quarterly revenue in about three years.
Meituan dropped 1.5% to HK $119.0, JD.com Inc. fell 0.6% to HK $122.10, and Alibaba Group Holding eased 0.5% to HK $116.80.
Hong Kong Exchanges and Clearing Ltd. edged up 0.6% to HK $443.80, and the financial services provider reported a 39% increase in profit in the first half.