Japan's Indexes Soared 3% Ahead of Leadership Vote On Tuesday

Japan's stock market indexes rebounded on Monday amid improving chances of Takaichi's bid to win the premiership election. 

The Nikkei 225 Stock Average soared 3%, and the broader Topix advanced 2.2% as investors held out for market-supportive policies. 

The Diet is set to elect the next prime minister on Tuesday. 

Japan's LDP struck an alliance with the Japan Innovation Party, paving the way for LDP leader Sanae Takaichi to become the next woman prime minister. 

Takaichi has supported the extension of ultra-loose monetary policy and additional fiscal stimulus to support economic growth. 

Japan's benchmark indexes surged more than 10% over the last three weeks, in what has been widely termed the Takaichi trade. 

In the week ahead, investors are awaiting the release of Japan's international trade and inflation data. 

September exports are likely to confirm global headwinds rooted in the U.S. tariffs, and the overall and core consumer price inflation are likely to stay above the BoJ's targets. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average soared 3% to 48,985.43, and the broader Topix advanced 2.2% to 3,239.29. 

Tokyo Electron advanced 4% to ¥31,330.0, Advantest Corp. gained 3.3% to ¥17,430.0, and Disco Corp. increased 3.3% to ¥53,550.0. 

Nippon Yusen KK inched up 1.1% to ¥5,105.0, Kawasaki Kisen Kaisha Ltd. gained 1.5% to ¥2,133.0, and Mitsui O.S.K. Lines Ltd. inched up 1.5% to ¥4,411.0. 

China Stocks Advanced After Mixed Economic Data Confirmed Expansion

Stocks in China and Hong Kong advanced on Monday after the release of key economic data. 

The Hang Seng Index gained 2.2%, and the mainland-focused CSI 300 index advanced 0.8% amid hopes of improving US-China relations. 

China's third-quarter GDP growth slowed, weighed down by the prolonged property slump and trade tensions with the U.S. 

GDP expanded at 4.8% from a year ago in the September quarter, compared to 5.2% in the second quarter, the National Bureau of Statistics reported on Monday. 

The economic growth eased to the slowest pace since the third quarter in 2024, as economic activities lost momentum amid trade uncertainties, weakening consumer confidence, and a prolonged slump in the property market. 

In the first nine months of the year, the economy expanded at 5.2%. 

China's annual retail sales growth slowed to 3% in September, compared to 3.4% in the previous month, the statistical agency said in a separate report. 

Retail sales rose at the slowest pace since August 2024, with weaker growth in household appliances, precious jewelry, and sports and entertainment products. 

For the nine months to September in 2025, retail sales advanced 4.5% from a year ago. 

The property market slump showed no signs of abating, and prices of new and existing homes fell in September. 

New home prices across 70 cities declined 2.7%, and existing home prices decreased 0.6% from a year ago, respectively. 

The housing market slump extended to the fourth year as several leading developers struggled to complete pre-sold homes and failed to meet loan agreements set by lenders.

Consumer sentiment remained depressed amid a faster decline in existing home prices in the second- and third-tier cities, 5.5% and 5.7%, respectively.  

Industrial production growth accelerated in September, as manufacturing and mining output surged, the statistical agency said on Monday. 

Industrial output expanded 6.5% from a year ago in September, compared to an annual pace of 5.2% in the previous month. 

Output in the manufacturing sector surged to an annual pace of 7.3%, and output in the mining sector advanced to 6.4%. 

China Indexes and Stocks

The Hang Seng Index jumped 2.2% to 25,855.15, and the mainland-focused CSI 300 index added 0.8% to 4,550.33. 

Property stocks faced selling pressure after the September home sales data confirmed the prolonged slump. 

Longfor Group Holdings decreased 1.4% to HK $10.26, China Vanke Company edged up 0.9% to HK $4.56, and Sun Hung Kai Properties added 1.8% to HK $94.40. 

Alibaba Group Holding soared 4.9% to HK $162.10, Tencent Holdings Ltd. added 3.8% to HK $631.0, and Meituan advanced 2.4% to HK $96.75. 

China Stocks Advanced After Mixed Economic Data Confirmed Expansion

Stocks in China and Hong Kong advanced on Monday after the release of key economic data. 

The Hang Seng Index gained 2.2%, and the mainland-focused CSI 300 index advanced 0.8% amid hopes of improving US-China relations. 

China's third-quarter GDP growth slowed, weighed down by the prolonged property slump and trade tensions with the U.S. 

GDP expanded at 4.8% from a year ago in the September quarter, compared to 5.2% in the second quarter, the National Bureau of Statistics reported on Monday. 

The economic growth eased to the slowest pace since the third quarter in 2024, as economic activities lost momentum amid trade uncertainties, weakening consumer confidence, and a prolonged slump in the property market. 

In the first nine months of the year, the economy expanded at 5.2%. 

China's annual retail sales growth slowed to 3% in September, compared to 3.4% in the previous month, the statistical agency said in a separate report. 

Retail sales rose at the slowest pace since August 2024, with weaker growth in household appliances, precious jewelry, and sports and entertainment products. 

For the nine months to September in 2025, retail sales advanced 4.5% from a year ago. 

The property market slump showed no signs of abating, and prices of new and existing homes fell in September. 

New home prices across 70 cities declined 2.7%, and existing home prices decreased 0.6% from a year ago, respectively. 

The housing market slump extended to the fourth year as several leading developers struggled to complete pre-sold homes and failed to meet loan agreements set by lenders.

Consumer sentiment remained depressed amid a faster decline in existing home prices in the second- and third-tier cities, 5.5% and 5.7%, respectively.  

Industrial production growth accelerated in September, as manufacturing and mining output surged, the statistical agency said on Monday. 

Industrial output expanded 6.5% from a year ago in September, compared to an annual pace of 5.2% in the previous month. 

Output in the manufacturing sector surged to an annual pace of 7.3%, and output in the mining sector advanced to 6.4%. 

China Indexes and Stocks

The Hang Seng Index jumped 2.2% to 25,855.15, and the mainland-focused CSI 300 index added 0.8% to 4,550.33. 

Property stocks faced selling pressure after the September home sales data confirmed the prolonged slump. 

Longfor Group Holdings decreased 1.4% to HK $10.26, China Vanke Company edged up 0.9% to HK $4.56, and Sun Hung Kai Properties added 1.8% to HK $94.40. 

Alibaba Group Holding soared 4.9% to HK $162.10, Tencent Holdings Ltd. added 3.8% to HK $631.0, and Meituan advanced 2.4% to HK $96.75. 

Stocks Struggled to Advance Amid Loan Worries Compounded By Tariff Uncertainty

Investors shied away from high-growth and riskier stocks after worries about the regional bank's loan practices resurfaced. 

The S&P 500 index decreased 0.8%, and the tech-heavy Nasdaq Composite dropped 1% amid growing worries about the health of the regional banks. 

Regional banks dropped after Zions Bank and Western Alliance reported a rise in bad loans, sparking worries about the financial health of mid-sized banks. 

Market volatility reached the level last seen in April on Thursday, and gold prices rose to new record highs as investors sought safe haven assets amid Trump's tariff whiplash and constantly changing trade policy. 

The federal government shutdown entered its third week, resulting in an indefinite delay in the release of crucial economic data covering the labor market, consumer spending, and international trade. 

U.S. Stock Movers 

CSX Corp. increased 2.1% to $36.75, and the railroad operator's third-quarter results surpassed market expectations. 

Revenue decreased 1% to $3.6 billion, net income plunged 22% to $694 million from $894 million, and diluted earnings per share dropped to 37 cents from 46 cents a year ago. 

"Volumes totaled 1.6 million units in the quarter, as the effects of the lower export coal prices and a decline in merchandise volume were partially offset by an increase in other revenue, higher pricing in merchandise, and intermodal volume growth," the company said in a statement to investors. 

During the quarter, the company repurchased three million of its own shares at an average price of $33.07, resulting in a total of $112 million. 

Over the nine months, the railroad company acquired a total of 41 million shares for $1.26 billion, averaging $30.61 per share. 

Interactive Brokers Group, Inc. decreased 4.1% to $65.71, despite the global brokerage firm reporting better-than-expected third-quarter results. 

Total net revenue increased to $1.65 billion from $1.36 billion, net income attributable to common stockholders advanced to $263 million from $184 million, and diluted earnings per share rose to 59 cents from 42 cents a year ago. 

Customer accounts increased 32% to 4.13 million, margin loans soared 39% to $77.3 billion, and customer credits increased 33% to $154.8 billion, driving the net interest income higher by 21% to $967 million. 

Stocks Struggled to Advance Amid Loan Worries Compounded By Tariff Uncertainty

Investors shied away from high-growth and riskier stocks after worries about the regional bank's loan practices resurfaced. 

The S&P 500 index decreased 0.8%, and the tech-heavy Nasdaq Composite dropped 1% amid growing worries about the health of the regional banks. 

Regional banks dropped after Zions Bank and Western Alliance reported a rise in bad loans, sparking worries about the financial health of mid-sized banks. 

Market volatility reached the level last seen in April on Thursday, and gold prices rose to new record highs as investors sought safe haven assets amid Trump's tariff whiplash and constantly changing trade policy. 

The federal government shutdown entered its third week, resulting in an indefinite delay in the release of crucial economic data covering the labor market, consumer spending, and international trade. 

U.S. Stock Movers 

CSX Corp. increased 2.1% to $36.75, and the railroad operator's third-quarter results surpassed market expectations. 

Revenue decreased 1% to $3.6 billion, net income plunged 22% to $694 million from $894 million, and diluted earnings per share dropped to 37 cents from 46 cents a year ago. 

"Volumes totaled 1.6 million units in the quarter, as the effects of the lower export coal prices and a decline in merchandise volume were partially offset by an increase in other revenue, higher pricing in merchandise, and intermodal volume growth," the company said in a statement to investors. 

During the quarter, the company repurchased three million of its own shares at an average price of $33.07, resulting in a total of $112 million. 

Over the nine months, the railroad company acquired a total of 41 million shares for $1.26 billion, averaging $30.61 per share. 

Interactive Brokers Group, Inc. decreased 4.1% to $65.71, despite the global brokerage firm reporting better-than-expected third-quarter results. 

Total net revenue increased to $1.65 billion from $1.36 billion, net income attributable to common stockholders advanced to $263 million from $184 million, and diluted earnings per share rose to 59 cents from 42 cents a year ago. 

Customer accounts increased 32% to 4.13 million, margin loans soared 39% to $77.3 billion, and customer credits increased 33% to $154.8 billion, driving the net interest income higher by 21% to $967 million. 

China Indexes Faced Headwinds Amid Trade Uncertainty and Persistent Deflationary Trend

Stocks in China and Hong Kong closed down on Friday and extended weekly losses amid heightened trade uncertainty. 

The Hang Seng Index decreased 1.6%, and the mainland-focused CSI 300 index fell 1.3% ahead of the release of key macroeconomic data on Monday.

The National Bureau of Statistics is set to release China's retail sales and industrial production data on Monday, and economists are signaling caution.

Nominal retail sales in September are likely to advance about 3%, and industrial production is expected to increase 5%, slower than the annual rise of 5.2% in August. 

Retail sales in September are expected to advance 3.5%, slightly higher than the 3.4% in August, reflecting a pre-Golden Week holiday surge.

China's Communist Party is scheduled to start its four-day plenary meeting on Monday, and policymakers are set to discuss social and economic development goals for the next five years. 

Gold and silver marched further into record territory, supported by additional purchases by retail investors and sustained buying by central banks in Asia and the Middle East. 

China Indexes and Stocks 

The Hang Seng Index dropped 1.6% to 25,473.09, and the mainland-focused CSI 300 index decreased 1.3% to 4,559.93. 

For the week, the Hang Seng Index extended losses to 0.8%, and the CSI index edged up 1.4%. 

Airline stocks were volatile after September traffic rose more than expected, driven by the sustained rise in domestic demand. 

Air China decreased 0.2% to HK $5.89, China Southern Airlines added 0.7% to HK $4.43, China Eastern Air added 2.2% to HK $3.62, and Cathay Pacific Group fell 1.1% to HK $10.65. 

Domestic airlines advanced despite the potential U.S. ban on use of Russian airspace for arrivals to U.S. destinations, and the U.S. Department of Transportation is likely to expand its list to include Cathay Pacific.  

China Indexes Faced Headwinds Amid Trade Uncertainty and Persistent Deflationary Trend

Stocks in China and Hong Kong closed down on Friday and extended weekly losses amid heightened trade uncertainty. 

The Hang Seng Index decreased 1.6%, and the mainland-focused CSI 300 index fell 1.3% ahead of the release of key macroeconomic data on Monday.

The National Bureau of Statistics is set to release China's retail sales and industrial production data on Monday, and economists are signaling caution.

Nominal retail sales in September are likely to advance about 3%, and industrial production is expected to increase 5%, slower than the annual rise of 5.2% in August. 

Retail sales in September are expected to advance 3.5%, slightly higher than the 3.4% in August, reflecting a pre-Golden Week holiday surge.

China's Communist Party is scheduled to start its four-day plenary meeting on Monday, and policymakers are set to discuss social and economic development goals for the next five years. 

Gold and silver marched further into record territory, supported by additional purchases by retail investors and sustained buying by central banks in Asia and the Middle East. 

China Indexes and Stocks 

The Hang Seng Index dropped 1.6% to 25,473.09, and the mainland-focused CSI 300 index decreased 1.3% to 4,559.93. 

For the week, the Hang Seng Index extended losses to 0.8%, and the CSI index edged up 1.4%. 

Airline stocks were volatile after September traffic rose more than expected, driven by the sustained rise in domestic demand. 

Air China decreased 0.2% to HK $5.89, China Southern Airlines added 0.7% to HK $4.43, China Eastern Air added 2.2% to HK $3.62, and Cathay Pacific Group fell 1.1% to HK $10.65. 

Domestic airlines advanced despite the potential U.S. ban on use of Russian airspace for arrivals to U.S. destinations, and the U.S. Department of Transportation is likely to expand its list to include Cathay Pacific.  

U.S. Movers: HP Enterprise, J B Hunt, United Airlines

J. B. Hunt Transport Services soared 13% to $156.76, and the trucking and logistics services provider's third-quarter results surpassed market expectations. 

Total operating revenue edged down to $3.05 billion from $3.07 billion, net income increased to $170.8 million from $152.1 million, and diluted earnings per share edged up to $1.76 from $1.49 a year ago. 

The transportation company is experiencing volatile market conditions, as businesses front-load orders ahead of the holiday season and in advance of steep U.S. tariffs. 

Gross revenue declined for the intermodal unit by 1%, for the truckload unit by 4%, for the integrated capacity by 8%, and for dedicated contract services by 1%, respectively. 

These losses were somewhat balanced out by a 3% increase in how efficiently the dedicated contract services unit operated, a 9% rise in revenue for each load in the integrated capacity solution unit, and a 14% growth in the number of loads for the truckload services unit. 

Hewlett Packard Enterprise Company plunged 9.6% to $22.63, and the computing device maker and cloud service provider's fiscal 2026 outlook disappointed investors. 

The company estimated annual revenue to rise between 5% and 10% and adjusted earnings per share between $2.20 and $2.40.

The cloud service provider announced its plans to boost its annual dividend by 10% and increase its stock buyback by $3 billion. 

United Airlines Holdings Inc. decreased 1.1% to $102.95, and the international passenger airline reported mixed third-quarter results.

Total operating revenue increased 2.6% to $15.2 billion from $14.8 billion, net income decreased 1.7% to $949 million from $965 million, and diluted earnings per share were unchanged at $2.90. 

In the third quarter, premium cabin revenue rose 6%, basic economy advanced 4%, cargo revenue advanced 3%, and loyalty revenue jumped 9% from a year ago, respectively. 

U.S. Movers: HP Enterprise, J B Hunt, United Airlines

J. B. Hunt Transport Services soared 13% to $156.76, and the trucking and logistics services provider's third-quarter results surpassed market expectations. 

Total operating revenue edged down to $3.05 billion from $3.07 billion, net income increased to $170.8 million from $152.1 million, and diluted earnings per share edged up to $1.76 from $1.49 a year ago. 

The transportation company is experiencing volatile market conditions, as businesses front-load orders ahead of the holiday season and in advance of steep U.S. tariffs. 

Gross revenue declined for the intermodal unit by 1%, for the truckload unit by 4%, for the integrated capacity by 8%, and for dedicated contract services by 1%, respectively. 

These losses were somewhat balanced out by a 3% increase in how efficiently the dedicated contract services unit operated, a 9% rise in revenue for each load in the integrated capacity solution unit, and a 14% growth in the number of loads for the truckload services unit. 

Hewlett Packard Enterprise Company plunged 9.6% to $22.63, and the computing device maker and cloud service provider's fiscal 2026 outlook disappointed investors. 

The company estimated annual revenue to rise between 5% and 10% and adjusted earnings per share between $2.20 and $2.40.

The cloud service provider announced its plans to boost its annual dividend by 10% and increase its stock buyback by $3 billion. 

United Airlines Holdings Inc. decreased 1.1% to $102.95, and the international passenger airline reported mixed third-quarter results.

Total operating revenue increased 2.6% to $15.2 billion from $14.8 billion, net income decreased 1.7% to $949 million from $965 million, and diluted earnings per share were unchanged at $2.90. 

In the third quarter, premium cabin revenue rose 6%, basic economy advanced 4%, cargo revenue advanced 3%, and loyalty revenue jumped 9% from a year ago, respectively. 

U.S. Movers: Ban k of America, Morgan Stanley, ASML Holding

Bank of America Corp. gained 2.5% to $52.52 after reporting its third-quarter revenue and earnings, which exceeded market expectations. 

Revenue rose 11% to $28.1 billion, net income advanced to $8.5 billion from $6.9 billion, and diluted earnings per share increased to $1.06 from 89 cents a year ago. 

Provisions for credit losses edged down to $1.3 billion, compared to $1.5 billion in the quarter a year ago and $1.6 billion in the second quarter. 

Morgan Stanley jumped 3.5% to $160.88, and the investment bank and asset manager reported a rise in revenue and earnings in the third quarter. 

Revenue rose 18% to $18.2 billion from $15.4 billion, net income advanced 45% to $4.6 billion from $3.2 billion, and diluted earnings per share jumped to $2.80 from $1.88 a year ago. 

Net new asset flow in its wealth management unit jumped to $81 billion and generated a pre-tax margin of 30%. 

Total client assets across the wealth and investment management platform increased to $8.9 trillion. 

ASML Holding jumped 4% to $1,025.37, and the Dutch semiconductor equipment maker said the current fiscal year's revenues are likely to surpass those from fiscal 2025.  

U.S. Movers: Ban k of America, Morgan Stanley, ASML Holding

Bank of America Corp. gained 2.5% to $52.52 after reporting its third-quarter revenue and earnings, which exceeded market expectations. 

Revenue rose 11% to $28.1 billion, net income advanced to $8.5 billion from $6.9 billion, and diluted earnings per share increased to $1.06 from 89 cents a year ago. 

Provisions for credit losses edged down to $1.3 billion, compared to $1.5 billion in the quarter a year ago and $1.6 billion in the second quarter. 

Morgan Stanley jumped 3.5% to $160.88, and the investment bank and asset manager reported a rise in revenue and earnings in the third quarter. 

Revenue rose 18% to $18.2 billion from $15.4 billion, net income advanced 45% to $4.6 billion from $3.2 billion, and diluted earnings per share jumped to $2.80 from $1.88 a year ago. 

Net new asset flow in its wealth management unit jumped to $81 billion and generated a pre-tax margin of 30%. 

Total client assets across the wealth and investment management platform increased to $8.9 trillion. 

ASML Holding jumped 4% to $1,025.37, and the Dutch semiconductor equipment maker said the current fiscal year's revenues are likely to surpass those from fiscal 2025.  

Stocks Rebound as Investors React to Earnings, Gold and Silver Test New Record Highs

Stocks turned higher on Thursday as earnings season picked up pace and the federal government shutdown entered its third week. 

The S&P 500 index added 0.4%, and the Nasdaq Composite advanced 0.6%, and they hovered near record highs. 

Positive earnings from leading commercial banks and investment banks bolstered market sentiment as the earnings season gathered momentum.

Tensions between the U.S. and China stayed elevated, and China imposed retaliatory port fees on US-based ships arriving at its ports. 

The U.S. Department of Transportation announced its plans to disallow Chinese airlines from reaching U.S. airports using Russian airspace. 

The move prompted a strong opposition from five leading Chinese airlines, and they demanded that the U.S. delay its restriction for at least 90 days. 

Gold and silver continued to scale new highs as investors seek safe-haven assets amid growing trust deficiency in the U.S. dollar-denominated assets. 

The ongoing federal government shutdown added to the lack of data visibility at a time when investors are looking to understand the tariffs' impact on U.S. consumers, labor market conditions, international trade trends, and domestic retail sales.  

U.S. Stock Movers

J. B. Hunt Transport Services soared 13% to $156.76, and the trucking and logistics services provider's third-quarter results surpassed market expectations. 

Total operating revenue edged down to $3.05 billion from $3.07 billion, net income increased to $170.8 million from $152.1 million, and diluted earnings per share edged up to $1.76 from $1.49 a year ago. 

The transportation company is experiencing volatile market conditions, as businesses front-load orders ahead of the holiday season and in advance of steep U.S. tariffs. 

Gross revenue declined for the intermodal unit by 1%, for the truckload unit by 4%, for the integrated capacity by 8%, and for dedicated contract services by 1%, respectively. 

These losses were somewhat balanced out by a 3% increase in how efficiently the dedicated contract services unit operated, a 9% rise in revenue for each load in the integrated capacity solution unit, and a 14% growth in the number of loads for the truckload services unit. 

Hewlett Packard Enterprise Company plunged 9.6% to $22.63, and the computing device maker and cloud service provider's fiscal 2026 outlook disappointed investors. 

The company estimated annual revenue to rise between 5% and 10% and adjusted earnings per share between $2.20 and $2.40.

The cloud service provider announced its plans to boost its annual dividend by 10% and increase its stock buyback by $3 billion. 

United Airlines Holdings Inc. decreased 1.1% to $102.95, and the international passenger airline reported mixed third-quarter results.

Total operating revenue increased 2.6% to $15.2 billion from $14.8 billion, net income decreased 1.7% to $949 million from $965 million, and diluted earnings per share were unchanged at $2.90. 

In the third quarter, premium cabin revenue rose 6%, basic economy advanced 4%, cargo revenue advanced 3%, and loyalty revenue jumped 9% from a year ago, respectively. 

Stocks Rebound as Investors React to Earnings, Gold and Silver Test New Record Highs

Stocks turned higher on Thursday as earnings season picked up pace and the federal government shutdown entered its third week. 

The S&P 500 index added 0.4%, and the Nasdaq Composite advanced 0.6%, and they hovered near record highs. 

Positive earnings from leading commercial banks and investment banks bolstered market sentiment as the earnings season gathered momentum.

Tensions between the U.S. and China stayed elevated, and China imposed retaliatory port fees on US-based ships arriving at its ports. 

The U.S. Department of Transportation announced its plans to disallow Chinese airlines from reaching U.S. airports using Russian airspace. 

The move prompted a strong opposition from five leading Chinese airlines, and they demanded that the U.S. delay its restriction for at least 90 days. 

Gold and silver continued to scale new highs as investors seek safe-haven assets amid growing trust deficiency in the U.S. dollar-denominated assets. 

The ongoing federal government shutdown added to the lack of data visibility at a time when investors are looking to understand the tariffs' impact on U.S. consumers, labor market conditions, international trade trends, and domestic retail sales.  

U.S. Stock Movers

J. B. Hunt Transport Services soared 13% to $156.76, and the trucking and logistics services provider's third-quarter results surpassed market expectations. 

Total operating revenue edged down to $3.05 billion from $3.07 billion, net income increased to $170.8 million from $152.1 million, and diluted earnings per share edged up to $1.76 from $1.49 a year ago. 

The transportation company is experiencing volatile market conditions, as businesses front-load orders ahead of the holiday season and in advance of steep U.S. tariffs. 

Gross revenue declined for the intermodal unit by 1%, for the truckload unit by 4%, for the integrated capacity by 8%, and for dedicated contract services by 1%, respectively. 

These losses were somewhat balanced out by a 3% increase in how efficiently the dedicated contract services unit operated, a 9% rise in revenue for each load in the integrated capacity solution unit, and a 14% growth in the number of loads for the truckload services unit. 

Hewlett Packard Enterprise Company plunged 9.6% to $22.63, and the computing device maker and cloud service provider's fiscal 2026 outlook disappointed investors. 

The company estimated annual revenue to rise between 5% and 10% and adjusted earnings per share between $2.20 and $2.40.

The cloud service provider announced its plans to boost its annual dividend by 10% and increase its stock buyback by $3 billion. 

United Airlines Holdings Inc. decreased 1.1% to $102.95, and the international passenger airline reported mixed third-quarter results.

Total operating revenue increased 2.6% to $15.2 billion from $14.8 billion, net income decreased 1.7% to $949 million from $965 million, and diluted earnings per share were unchanged at $2.90. 

In the third quarter, premium cabin revenue rose 6%, basic economy advanced 4%, cargo revenue advanced 3%, and loyalty revenue jumped 9% from a year ago, respectively. 

China-Based Air Carriers Oppose U.S. Plans to Disallow Use of Russian Airspace

Stocks in China and Hong Kong wavered amid rapidly rising trade tensions between the U.S. and China. 

The Hang Seng Index declined 0.6%, and the mainland-focused CSI 300 index inched higher a fraction as investors reviewed the fast-changing trade backdrop between the U.S. and China. 

The U.S. Department of Transportation announced its plans to disallow Chinese airlines operating flights to the U.S. to pass through Russian airspace, angering China-based airlines. 

The use of the Russian airspace gives a cost advantage to Chinese airlines over the U.S. carriers, which are not permitted to travel over Russia.

Air China, China Eastern Airlines, China Southern Airlines, Hainan Airlines, Sichuan Airlines, and Xiamen Airlines have officially opposed the proposal. 

China Indexes and Stocks 

The Hang Seng Index decreased 0.6% to 25,764.24, and the mainland-focused CSI 300 index edged up 0.1% to 4,610.58. 

The latest data from the People's Bank of China confirmed that rotation from bank deposits into the stock market slowed down in September from the previous month. 

Deposits with non-banking financial institutions, including stock brokers, mutual funds, and trusts, decreased by 1.06 trillion yuan, or about $149 billion, while household savings rose by 3 trillion yuan in the period. 

Beijing Yunji Technology surged 36% to HK $130.30 after the robot maker completed its initial public offering in Hong Kong. 

The company sold 6.9 million shares at a price of HK $95.60 per share and raised net proceeds of HK $593.3 million. 

The domestic tranche of the public offering, accounting for 20% of total shares placed, was oversubscribed by 5,657 times, and the international tranche, accounting for 80% of the offering, was oversubscribed by 18 times.

China-Based Air Carriers Oppose U.S. Plans to Disallow Use of Russian Airspace

Stocks in China and Hong Kong wavered amid rapidly rising trade tensions between the U.S. and China. 

The Hang Seng Index declined 0.6%, and the mainland-focused CSI 300 index inched higher a fraction as investors reviewed the fast-changing trade backdrop between the U.S. and China. 

The U.S. Department of Transportation announced its plans to disallow Chinese airlines operating flights to the U.S. to pass through Russian airspace, angering China-based airlines. 

The use of the Russian airspace gives a cost advantage to Chinese airlines over the U.S. carriers, which are not permitted to travel over Russia.

Air China, China Eastern Airlines, China Southern Airlines, Hainan Airlines, Sichuan Airlines, and Xiamen Airlines have officially opposed the proposal. 

China Indexes and Stocks 

The Hang Seng Index decreased 0.6% to 25,764.24, and the mainland-focused CSI 300 index edged up 0.1% to 4,610.58. 

The latest data from the People's Bank of China confirmed that rotation from bank deposits into the stock market slowed down in September from the previous month. 

Deposits with non-banking financial institutions, including stock brokers, mutual funds, and trusts, decreased by 1.06 trillion yuan, or about $149 billion, while household savings rose by 3 trillion yuan in the period. 

Beijing Yunji Technology surged 36% to HK $130.30 after the robot maker completed its initial public offering in Hong Kong. 

The company sold 6.9 million shares at a price of HK $95.60 per share and raised net proceeds of HK $593.3 million. 

The domestic tranche of the public offering, accounting for 20% of total shares placed, was oversubscribed by 5,657 times, and the international tranche, accounting for 80% of the offering, was oversubscribed by 18 times.