- Li Chen
- 27 Mar, 2025
- Hong Kong
Stock market indexes in China and Hong Kong advanced despite the U.S. announcing tariffs on automobile products.
The Hang Seng index advanced 1% and the mainland-focused CSI 300 index gained 0.4%, as investors looked at the new U.S. tariffs.
The Trump administration announced 25% tariffs on automobiles and automobile products from all countries.
Shipments from Mexico, Canada, and the European Union are likely to be impacted most negatively.
Electric vehicle makers advanced because most Chinese companies have little exposure to the U.S. market.
China Indexes and Stocks
The Hang Seng index jumped 1% to 23,729.33, and the mainland-focused CSI 300 index advanced 0.4% to 3,935.86.
BYD gained 2% to HK $406.60, Li Auto advanced HK $103.90, Xpeng decreased 1.5% to HK $80.05, and NIO dropped 4.3% to HK $32.65.
Three new companies were listed on the stock exchange in China.
Soft International Group, the maker of personal hygiene disposable products, advanced 25% to HK$0.62 after the company listed its stock on the Hong Kong Stock Exchange.
Zhejiang Huaye Plastics Machinery, a maker of high-speed resistant industrial components, jumped more than 180% to 58.04 yuan in Shenzhen trading.
Zhejiang Huayuan Auto Technology, the maker of automotive components, jumped five-fold to 25.86 yuan in Shenzhen trading.
- Li Chen
- 27 Mar, 2025
- Hong Kong
Stock market indexes in China and Hong Kong advanced despite the U.S. announcing tariffs on automobile products.
The Hang Seng index advanced 1% and the mainland-focused CSI 300 index gained 0.4%, as investors looked at the new U.S. tariffs.
The Trump administration announced 25% tariffs on automobiles and automobile products from all countries.
Shipments from Mexico, Canada, and the European Union are likely to be impacted most negatively.
Electric vehicle makers advanced because most Chinese companies have little exposure to the U.S. market.
China Indexes and Stocks
The Hang Seng index jumped 1% to 23,729.33, and the mainland-focused CSI 300 index advanced 0.4% to 3,935.86.
BYD gained 2% to HK $406.60, Li Auto advanced HK $103.90, Xpeng decreased 1.5% to HK $80.05, and NIO dropped 4.3% to HK $32.65.
Three new companies were listed on the stock exchange in China.
Soft International Group, the maker of personal hygiene disposable products, advanced 25% to HK$0.62 after the company listed its stock on the Hong Kong Stock Exchange.
Zhejiang Huaye Plastics Machinery, a maker of high-speed resistant industrial components, jumped more than 180% to 58.04 yuan in Shenzhen trading.
Zhejiang Huayuan Auto Technology, the maker of automotive components, jumped five-fold to 25.86 yuan in Shenzhen trading.
- Barry Adams
- 26 Mar, 2025
- New York City
Wall Street indexes faced another wave of selling as the tariff deadline loomed and investors turned cautious.
The S&P 500 index decreased as much as 0.4%, and the Nasdaq Composite declined 1.5% after tech leaders faced renewed pressure ahead of a fresh round of tariffs.
The Trump administration is set to announce a new set of tariffs as early as next week; however, investors are confused amid the constantly changing narrative and lack of details.
Investors are looking for signs of inflation and economic slowdown amid a sharp decline in consumer sentiment and rising prices.
Moreover, businesses are in a holding pattern and postponing investment plans amid a lack of clarity about the tax on imports from China, Japan, India, and the European Union.
Pharmaceutical and automobile makers are expected to face a new wave of import taxes on ingredients, components, and parts.
On the economic front, durable goods orders advanced 0.9% from the previous month to $289.3 billion, the U.S. Census Bureau reported Wednesday.
The January orders were upwardly revised to 3.3%.
Excluding transportation, orders increased 0.7%, while excluding defense, orders advanced 0.8%.
However, non-defense orders excluding aircraft, a barometer for capital goods spending, declined 0.3% from the previous month and fell for the first time in four months.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.1% to 5,773.17, the Nasdaq Composite edged down 0.5% to 18,185.00, and the Russell 2000 index was down 0.5% to 2,099.38.
The yield on 2-year Treasury notes edged lower to 4.01%, 10-year Treasury notes increased to 4.35%, and 30-year Treasury bonds advanced to 4.69%.
WTI crude oil increased $0.68 to $69.68 a barrel, and natural gas prices edged higher by $0.04 to $3.88 a thermal unit.
Gold increased by $2.13 to $3,023.16 an ounce, and silver edged up by $0.04 to $33.71.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.15 to 104.34 and traded at a two-year high.
U.S. Stock Movers
Dollar Tree Inc. increased 2.1% to $68.50, and the deep discount store chain operator reported better-than-expected revenue and earnings in the fourth quarter.
The company said it plans to spin off its Family Dollar business for $1 billion, which the company acquired for $9 billion in 2015.
GameStop Corp. soared 16% to $28.10 after the company's board approved a plan to buy bitcoin and stablecoins with a portion of its cash and diversify its holdings.
Chewy Inc. jumped 5% to $35.34, and the online pet food store reported higher-than-expected fourth quarter revenue of $3.5 billion and adjusted earnings of 28 cents per share.
Worthington Enterprises gained 2.8% to $42.80, and the industrial and consumer cylinder tank maker reported a decline in earnings, but adjusted earnings surpassed expectations.
Revenue in the fiscal third quarter decreased 4% to $42.80, and adjusted earnings were 90 cents per share.
- Barry Adams
- 26 Mar, 2025
- New York City
Wall Street indexes faced another wave of selling as the tariff deadline loomed and investors turned cautious.
The S&P 500 index decreased as much as 0.4%, and the Nasdaq Composite declined 1.5% after tech leaders faced renewed pressure ahead of a fresh round of tariffs.
The Trump administration is set to announce a new set of tariffs as early as next week; however, investors are confused amid the constantly changing narrative and lack of details.
Investors are looking for signs of inflation and economic slowdown amid a sharp decline in consumer sentiment and rising prices.
Moreover, businesses are in a holding pattern and postponing investment plans amid a lack of clarity about the tax on imports from China, Japan, India, and the European Union.
Pharmaceutical and automobile makers are expected to face a new wave of import taxes on ingredients, components, and parts.
On the economic front, durable goods orders advanced 0.9% from the previous month to $289.3 billion, the U.S. Census Bureau reported Wednesday.
The January orders were upwardly revised to 3.3%.
Excluding transportation, orders increased 0.7%, while excluding defense, orders advanced 0.8%.
However, non-defense orders excluding aircraft, a barometer for capital goods spending, declined 0.3% from the previous month and fell for the first time in four months.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.1% to 5,773.17, the Nasdaq Composite edged down 0.5% to 18,185.00, and the Russell 2000 index was down 0.5% to 2,099.38.
The yield on 2-year Treasury notes edged lower to 4.01%, 10-year Treasury notes increased to 4.35%, and 30-year Treasury bonds advanced to 4.69%.
WTI crude oil increased $0.68 to $69.68 a barrel, and natural gas prices edged higher by $0.04 to $3.88 a thermal unit.
Gold increased by $2.13 to $3,023.16 an ounce, and silver edged up by $0.04 to $33.71.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.15 to 104.34 and traded at a two-year high.
U.S. Stock Movers
Dollar Tree Inc. increased 2.1% to $68.50, and the deep discount store chain operator reported better-than-expected revenue and earnings in the fourth quarter.
The company said it plans to spin off its Family Dollar business for $1 billion, which the company acquired for $9 billion in 2015.
GameStop Corp. soared 16% to $28.10 after the company's board approved a plan to buy bitcoin and stablecoins with a portion of its cash and diversify its holdings.
Chewy Inc. jumped 5% to $35.34, and the online pet food store reported higher-than-expected fourth quarter revenue of $3.5 billion and adjusted earnings of 28 cents per share.
Worthington Enterprises gained 2.8% to $42.80, and the industrial and consumer cylinder tank maker reported a decline in earnings, but adjusted earnings surpassed expectations.
Revenue in the fiscal third quarter decreased 4% to $42.80, and adjusted earnings were 90 cents per share.
- Bridgette Randall
- 26 Mar, 2025
- London
European markets lacked direction ahead of the possible U.S. trade tariffs.
Benchmark indexes in Frankfurt and Paris declined, but they edged higher in London as investors prepared for the start of the upcoming earnings season in two weeks.
Market volatility in London was above normal ahead of the release of the Spring Statement from the Chancellor of the Exchequer, Rachel Reeves.
Investors are hoping that the new administration will focus on cutting expenses by as much as £10 billion and refrain from raising taxes.
Market sentiment in the eurozone has been positive after German lawmakers approved raising the debt limit and setting up a special fund to invest in infrastructure.
The historic debt reform decision has raised expectations of higher revenue for defense and technology companies in the region, and Germany is expected to spend as much as 500 billion or about 11% of its GDP on improving its aging infrastructure.
On the earnings front, the UK's consumer price inflation edged slightly lower to 2.8% in February from 3.0% in January, according to the report released by the Office for National Statistics.
Europe Indexes and Yields
The DAX index decreased by 0.1% to 23,089.22, the CAC-40 index edged lower 0.2% to 8,090.63, and the FTSE 100 index advanced by 0.2% to 8,678.26.
The yield on 10-year German bonds inched lower to 2.79%, French bonds increased to 3.48%, the UK gilts moved down to 4.73%, and Italian bonds edged higher to 3.89%.
The euro increased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was higher and traded at 88.33 Swiss cents.
Brent crude increased $0.09 to $73.11 a barrel, and the Dutch TTF natural gas was lower by €0.41 to €40.72 per MWh.
Europe Stock Movers
Vistry Group PLC declined 6% to 609.0 pence after the UK-based home builder reported a sharp decline in earnings in 2024.
Revenue increased to £3.78 billion from £3.56 billion, profit slumped to £74.5 million from £215.0 million, and diluted earnings per share fell to 21.8 pence from 61.3 pence a year ago.
Total completions increased 7% to 17,225 units from 16,118 units in 2023, with partner-funded completions up 18% to 12,633 units from 10,722 units a year ago, and average selling prices remained firm.
Aroundtown SA decreased 5% to €2.23, and Germany's largest landlord reported a decline of 5% in Funds from Operations to €316 million.
Wacker Neuson SE rose 0.7% to €21.40, and the construction equipment maker reported a 16% decline in revenue in 2024.
Porsche Automobil Holding SE increased 0.5% to €37.89, and the German luxury automaker reported a smaller-than-expected loss of €20 billion.
Revenue declined to €40.08 billion from €40.53 billion, net income edged down to €3.48 billion from €5.63 billion, and earnings per diluted share fell to €3.94 from €5.66 a year ago.
The company delivered 310,718 vehicles in 2024, compared to 320,221 a year earlier, and launched its second all-electric model, the new Macan.
The company said it plans to continue investing in diversifying its product portfolio and seek opportunities in the defense sector.
- Bridgette Randall
- 26 Mar, 2025
- London
European markets lacked direction ahead of the possible U.S. trade tariffs.
Benchmark indexes in Frankfurt and Paris declined, but they edged higher in London as investors prepared for the start of the upcoming earnings season in two weeks.
Market volatility in London was above normal ahead of the release of the Spring Statement from the Chancellor of the Exchequer, Rachel Reeves.
Investors are hoping that the new administration will focus on cutting expenses by as much as £10 billion and refrain from raising taxes.
Market sentiment in the eurozone has been positive after German lawmakers approved raising the debt limit and setting up a special fund to invest in infrastructure.
The historic debt reform decision has raised expectations of higher revenue for defense and technology companies in the region, and Germany is expected to spend as much as 500 billion or about 11% of its GDP on improving its aging infrastructure.
On the earnings front, the UK's consumer price inflation edged slightly lower to 2.8% in February from 3.0% in January, according to the report released by the Office for National Statistics.
Europe Indexes and Yields
The DAX index decreased by 0.1% to 23,089.22, the CAC-40 index edged lower 0.2% to 8,090.63, and the FTSE 100 index advanced by 0.2% to 8,678.26.
The yield on 10-year German bonds inched lower to 2.79%, French bonds increased to 3.48%, the UK gilts moved down to 4.73%, and Italian bonds edged higher to 3.89%.
The euro increased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was higher and traded at 88.33 Swiss cents.
Brent crude increased $0.09 to $73.11 a barrel, and the Dutch TTF natural gas was lower by €0.41 to €40.72 per MWh.
Europe Stock Movers
Vistry Group PLC declined 6% to 609.0 pence after the UK-based home builder reported a sharp decline in earnings in 2024.
Revenue increased to £3.78 billion from £3.56 billion, profit slumped to £74.5 million from £215.0 million, and diluted earnings per share fell to 21.8 pence from 61.3 pence a year ago.
Total completions increased 7% to 17,225 units from 16,118 units in 2023, with partner-funded completions up 18% to 12,633 units from 10,722 units a year ago, and average selling prices remained firm.
Aroundtown SA decreased 5% to €2.23, and Germany's largest landlord reported a decline of 5% in Funds from Operations to €316 million.
Wacker Neuson SE rose 0.7% to €21.40, and the construction equipment maker reported a 16% decline in revenue in 2024.
Porsche Automobil Holding SE increased 0.5% to €37.89, and the German luxury automaker reported a smaller-than-expected loss of €20 billion.
Revenue declined to €40.08 billion from €40.53 billion, net income edged down to €3.48 billion from €5.63 billion, and earnings per diluted share fell to €3.94 from €5.66 a year ago.
The company delivered 310,718 vehicles in 2024, compared to 320,221 a year earlier, and launched its second all-electric model, the new Macan.
The company said it plans to continue investing in diversifying its product portfolio and seek opportunities in the defense sector.
- Inga Muller
- 26 Mar, 2025
- Frankfurt
Porsche Automobil Holding SE gained 0.6% to €37.70 after the sports car manufacturer reported results for 2024.
Revenue declined to €40.08 billion from €40.53 billion, net income edged down to €3.48 billion from €5.63 billion, and earnings per diluted share fell to €3.94 from €5.66 a year ago.
The company delivered 310,718 vehicles in 2024, compared to 320,221 a year earlier, and launched its second all-electric model, the new Macan.
“With 86,541 deliveries, North America is once again the largest sales region, recording an increase of one percent compared to the previous year. In China, 56,887 cars were handed over to customers, down 28%,” the company said in a release to investors.
Kingfisher Plc. plunged 10.3% to 251.01 pence after the UK-based retailer reported lower sales in 2024.
Sales declined to £12.78 billion from £12.98 billion, profit dropped to £185 million from £345 million, and diluted earnings per share fell to 9.9 pence from 18.0 pence a year ago.
The company proposed a final dividend of 8.60 pence per share, payable on June 30 to shareholders on record as of May 23, with the ex-dividend date on May 22.
In addition, Kingfisher announced a new share buyback program for £300 million, and since September 2021, the company has completed £900 million of share buybacks.
The new program includes £26 million for repurchase during fiscal year 2025-2026 related to the previous £300 million program.
For the period 2025-2026, the company guided adjusted profit before tax to be between £480 million and £540 million and free cash flow between £420 million and £480 million.
Vonovia SE dropped 1.14% to €24.20 despite the real estate company reporting higher sales in 2024.
Revenue from property management increased to €4.88 billion from €4.71 billion, net loss widened to €6.76 billion from a loss of €896.0 million, and diluted loss per share widened to €7.80 from a loss of €1.09 a year ago.
The company guided for fiscal 2025 adjusted EBITDA to be between €2.70 billion and €2.80 billion, compared to €2.62 billion in 2024, and rental income between €3.3 billion and €3.4 billion, compared to €3.32 billion a year ago.
Smiths Group Plc. gained 3.5% to 2.090 pence after the UK-based engineering company reported half-year results for fiscal 2025 ending in January.
Revenue increased to £1.61 billion from £1.51 billion, comprehensive income climbed to £205 million compared to a loss of £141 million, and diluted earnings per share rose to 48.7 pence from 32.0 pence a year ago.
The company proposed a dividend of 14.23 pence per share, up from 13.55 pence per share in the previous year.
Vistry Group Plc dropped 6.3% to 607.50 pence after the UK-based home construction company reported results for 2024.
Revenue increased to £3.78 billion from £3.56 billion, profit slumped to £74.5 million from £215.0 million, and diluted earnings per share fell to 21.8 pence from 61.3 pence a year ago.
Total completions increased 7% to 17,225 units from 16,118 units in 2023, with partner-funded completions up 18% to 12,633 units from 10,722 units a year ago, and average selling prices remained firm.
Open-market completions were down 15% to 4,592 units from 5,396 units in 2023.
By the end of December, the company’s net debt amounted to £180.7 million, down from £88.8 million a year ago.
Vistry received £2 billion from the government in the form of grant funding for new affordable homes, along with £800 million of top-up funding previously announced.
“The funding will drive investment momentum across the affordable housing sector ahead of the launch of the 2026 affordable homes program.”
- Inga Muller
- 26 Mar, 2025
- Frankfurt
Porsche Automobil Holding SE gained 0.6% to €37.70 after the sports car manufacturer reported results for 2024.
Revenue declined to €40.08 billion from €40.53 billion, net income edged down to €3.48 billion from €5.63 billion, and earnings per diluted share fell to €3.94 from €5.66 a year ago.
The company delivered 310,718 vehicles in 2024, compared to 320,221 a year earlier, and launched its second all-electric model, the new Macan.
“With 86,541 deliveries, North America is once again the largest sales region, recording an increase of one percent compared to the previous year. In China, 56,887 cars were handed over to customers, down 28%,” the company said in a release to investors.
Kingfisher Plc. plunged 10.3% to 251.01 pence after the UK-based retailer reported lower sales in 2024.
Sales declined to £12.78 billion from £12.98 billion, profit dropped to £185 million from £345 million, and diluted earnings per share fell to 9.9 pence from 18.0 pence a year ago.
The company proposed a final dividend of 8.60 pence per share, payable on June 30 to shareholders on record as of May 23, with the ex-dividend date on May 22.
In addition, Kingfisher announced a new share buyback program for £300 million, and since September 2021, the company has completed £900 million of share buybacks.
The new program includes £26 million for repurchase during fiscal year 2025-2026 related to the previous £300 million program.
For the period 2025-2026, the company guided adjusted profit before tax to be between £480 million and £540 million and free cash flow between £420 million and £480 million.
Vonovia SE dropped 1.14% to €24.20 despite the real estate company reporting higher sales in 2024.
Revenue from property management increased to €4.88 billion from €4.71 billion, net loss widened to €6.76 billion from a loss of €896.0 million, and diluted loss per share widened to €7.80 from a loss of €1.09 a year ago.
The company guided for fiscal 2025 adjusted EBITDA to be between €2.70 billion and €2.80 billion, compared to €2.62 billion in 2024, and rental income between €3.3 billion and €3.4 billion, compared to €3.32 billion a year ago.
Smiths Group Plc. gained 3.5% to 2.090 pence after the UK-based engineering company reported half-year results for fiscal 2025 ending in January.
Revenue increased to £1.61 billion from £1.51 billion, comprehensive income climbed to £205 million compared to a loss of £141 million, and diluted earnings per share rose to 48.7 pence from 32.0 pence a year ago.
The company proposed a dividend of 14.23 pence per share, up from 13.55 pence per share in the previous year.
Vistry Group Plc dropped 6.3% to 607.50 pence after the UK-based home construction company reported results for 2024.
Revenue increased to £3.78 billion from £3.56 billion, profit slumped to £74.5 million from £215.0 million, and diluted earnings per share fell to 21.8 pence from 61.3 pence a year ago.
Total completions increased 7% to 17,225 units from 16,118 units in 2023, with partner-funded completions up 18% to 12,633 units from 10,722 units a year ago, and average selling prices remained firm.
Open-market completions were down 15% to 4,592 units from 5,396 units in 2023.
By the end of December, the company’s net debt amounted to £180.7 million, down from £88.8 million a year ago.
Vistry received £2 billion from the government in the form of grant funding for new affordable homes, along with £800 million of top-up funding previously announced.
“The funding will drive investment momentum across the affordable housing sector ahead of the launch of the 2026 affordable homes program.”
- Akira Ito
- 26 Mar, 2025
- Tokyo
Japan's investors shifted their attention to comments from the chief of the Bank of Japan, and bond yields traded at a 16-year high.
The Nikkei 225 Stock Average gained 0.6%, and the broader TOPIX advanced 0.5%, and the benchmark indexes extended gains for the second consecutive session.
Bank of Japan Governor Kazuo Ueda told parliament that the central bank is prepared to continue interest rates if future economic data meet expectations.
Ueda confirmed that economic metrics and growth so far have met expectations laid out by the central bank, and the cycle of rising wages supporting consumer spending is intact.
Japan's 10-year government bond yield edged higher to a 16-year high of 1.59%, and then the yen traded at 150.35 against the U.S. dollar.
Last week, the central bank left its short-term rate at 0.5%, citing U.S. trade policy uncertainty and economic slowdown in China.
On the economic front, producer price inflation eased in February, according to the latest data available from the Bank of Japan.
The measure of inflation slowed to an annual pace of 3.0% from the upwardly revised annual rate of 3.2% in January, and prices were flat from the previous month.
Excluding international transportation, producer price inflation increased at an annual pace of 3.1% and rose 0.1% on a monthly basis.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.6%, and the broader TOPIX advanced 0.5% to 2,812.89.
Exporters, technology stocks, industrials, and financial services providers led the most actively traded stocks list.
Nintendo Co. Ltd. surged 5.5% to ¥11,330.0 after positive comments from Goldman raised expectations of a faster increase in user base.
Technology stocks led gains in Tokyo following the advance in tech leaders in overnight trading in New York.
Tokyo Electron gained 1.6% to ¥22,670.0, Advantest Corp. increased 0.6% to ¥7,781.0, Disco Corp. inched up 2.6% to ¥35,190.0, and Lasertec added 0.3% to ¥13,985.0.
Marubeni Corp. added 0.5% to ¥2,552.0, Sumitomo Corp. jumped 0.6% to ¥3,647.0, Itochu Corp. increased 0.8% to ¥7,178.0, and Mitsui & Co. Ltd. advanced 2.6% to ¥2,990.0.
- Akira Ito
- 26 Mar, 2025
- Tokyo
Japan's investors shifted their attention to comments from the chief of the Bank of Japan, and bond yields traded at a 16-year high.
The Nikkei 225 Stock Average gained 0.6%, and the broader TOPIX advanced 0.5%, and the benchmark indexes extended gains for the second consecutive session.
Bank of Japan Governor Kazuo Ueda told parliament that the central bank is prepared to continue interest rates if future economic data meet expectations.
Ueda confirmed that economic metrics and growth so far have met expectations laid out by the central bank, and the cycle of rising wages supporting consumer spending is intact.
Japan's 10-year government bond yield edged higher to a 16-year high of 1.59%, and then the yen traded at 150.35 against the U.S. dollar.
Last week, the central bank left its short-term rate at 0.5%, citing U.S. trade policy uncertainty and economic slowdown in China.
On the economic front, producer price inflation eased in February, according to the latest data available from the Bank of Japan.
The measure of inflation slowed to an annual pace of 3.0% from the upwardly revised annual rate of 3.2% in January, and prices were flat from the previous month.
Excluding international transportation, producer price inflation increased at an annual pace of 3.1% and rose 0.1% on a monthly basis.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.6%, and the broader TOPIX advanced 0.5% to 2,812.89.
Exporters, technology stocks, industrials, and financial services providers led the most actively traded stocks list.
Nintendo Co. Ltd. surged 5.5% to ¥11,330.0 after positive comments from Goldman raised expectations of a faster increase in user base.
Technology stocks led gains in Tokyo following the advance in tech leaders in overnight trading in New York.
Tokyo Electron gained 1.6% to ¥22,670.0, Advantest Corp. increased 0.6% to ¥7,781.0, Disco Corp. inched up 2.6% to ¥35,190.0, and Lasertec added 0.3% to ¥13,985.0.
Marubeni Corp. added 0.5% to ¥2,552.0, Sumitomo Corp. jumped 0.6% to ¥3,647.0, Itochu Corp. increased 0.8% to ¥7,178.0, and Mitsui & Co. Ltd. advanced 2.6% to ¥2,990.0.
- Li Chen
- 26 Mar, 2025
- Hong Kong
Stock market indexes in China and Hong Kong lacked direction, and investors took a wait-and-see approach amid elevated geopolitical uncertainties.
The Hang Seng advanced 0.2%, and the mainland-focused CSI index decreased 0.4%, and benchmark indexes traded in a tight range amid weak sentiment.
Investors have been on the sidelines after the recent run-up in technology stocks, uncertainty about U.S. trade policy, and lack of catalysts for corporate earnings growth.
Beijing's policymakers have failed to follow through after announcing a raft of stimulus measures last year and reiterating their commitment to supporting the revival of the property market and consumer confidence.
In addition, Beijing is struggling to devise its trade stance amid constantly changing U.S. trade policy and shifting priorities in the European Union.
The sharp escalation in U.S. tariffs and stricter implementation of the de minimus rule have sharply slowed down new orders for small manufacturing companies in several sectors and caused widespread job losses in Shenzhen, Ningbo, and Guangzhou.
China Indexes and Stocks
The Hang Seng index increased 0.2% to 23,406.73, and the mainland-focused CSI 300 index fell 0.4% to 3,920.44.
Contemporary Ampere Technology Limited decreased 0.3% to 259.02 yuan, and the largest maker of electric vehicle batteries received an approval from the mainland securities regulator to list its stock on the Hong Kong Stock Exchange and raise $5 billion.
Nio advanced 0.6% to HK $34.01, and the company's chief executive, William Li, said that the electric vehicle maker is expected to break even in the fourth quarter.
Li Auto, Xpeng, and BYD advanced following Nio's announcement.