Market Update
Japan's Indexes Trimmed Strong Weekly Gains Amid Renewed Doubts About Elevated AI Spending
Akira Ito
13 Feb, 2026
Tokyo
Japan's stocks traded down on Friday and trimmed weekly advances following losses on Wall Street amid renewed AI concerns.
The Nikkei 225 Stock Average decreased 0.7%, and the broader Topix dropped 1% as investors booked profit following a surge earlier in the week.
Benchmark indexes soared more than 7% after the ruling LDP party expanded its seat count in the lower house following a historic win in Sunday's election.
Prime Minister Sanae Takaichi's administration is looking to provide additional fiscal stimulus and eliminate the tax on food products for one year.
The larger-than-usual stimulus could provide a boost to corporate earnings without putting additional pressure on the yen.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 0.7% to 57,263.33, and the broader Topix Index decreased 1.0% following a surge earlier in the week.
Friday's market sell-off was prompted by a decline in AI-linked stocks in overnight trading on Wall Street.
SoftBank Group dropped 9% to ¥4,389.0 despite the leading technology company returning to quarterly profit on higher valuation gains linked to OpenAI.
Kioxia Holdings Corp. soared 5.7% to ¥22,385.0, and the memory chipmaker reported strong quarterly profit, supported by an AI-driven rally in NAND memory prices.
Japan's Indexes Trimmed Strong Weekly Gains Amid Renewed Doubts About Elevated AI Spending
Akira Ito
13 Feb, 2026
Tokyo
Japan's stocks traded down on Friday and trimmed weekly advances following losses on Wall Street amid renewed AI concerns.
The Nikkei 225 Stock Average decreased 0.7%, and the broader Topix dropped 1% as investors booked profit following a surge earlier in the week.
Benchmark indexes soared more than 7% after the ruling LDP party expanded its seat count in the lower house following a historic win in Sunday's election.
Prime Minister Sanae Takaichi's administration is looking to provide additional fiscal stimulus and eliminate the tax on food products for one year.
The larger-than-usual stimulus could provide a boost to corporate earnings without putting additional pressure on the yen.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 0.7% to 57,263.33, and the broader Topix Index decreased 1.0% following a surge earlier in the week.
Friday's market sell-off was prompted by a decline in AI-linked stocks in overnight trading on Wall Street.
SoftBank Group dropped 9% to ¥4,389.0 despite the leading technology company returning to quarterly profit on higher valuation gains linked to OpenAI.
Kioxia Holdings Corp. soared 5.7% to ¥22,385.0, and the memory chipmaker reported strong quarterly profit, supported by an AI-driven rally in NAND memory prices.
AI-Fueled Business Disruption Worries Dominated Sentiment In China
Li Chen
13 Feb, 2026
Hong Kong
Stocks in China traded down on Friday and extended weekly losses amid growing concerns about the AI-related business disruptions in several industries.
The Hang Seng Index decreased 1.8%, and the mainland-focused CSI 300 Index eased 0.8% as investors debated the future earnings growth outlook.
For the week, the Hang Seng Index decreased 1.6%, and the CSI Index declined 0.3%, reflecting growing unease about the elevated AI infrastructure spending and lagging returns.
Those worries were compounded by the business disruption concerns in the software services, healthcare administration, financial services providers, and manufacturing industry.
Commodities markets also faced another week of elevated volatility as regulators tightened margin rules for the purchase of gold and silver and curbed excessive speculation.
China Indexes and Stocks
The Hang Seng Index decreased 1.8% to 26,547.97, and the mainland-focused CSI 300 Index declined 0.8% to 4,681.92.
Zijin Mining Group decreased 5.2% to HK $42.68, and Zijin Gold International dropped 2.2% amid a weakness in prices for gold and silver.
Lenovo Group rebounded 2.2% to HK $9.20 after falling as much as 7% in the previous session after the company reported a sharp decline in December quarter profit.
The PC maker reported a 21% decline in profit on record revenue of $2.22 billion, largely driven by a surge in memory prices fueled by the rapid expansion of AI data centers.
MiniMax Group soared 9.4% to HK $643.50 after the company released AI models to improve business workflow.
MiniMax claimed that its latest AI models, which cost a fraction of similar models released by OpenAI and Anthropic, are "too cheap to meter."
AI companies have often been criticized for exaggerating claims of their models' capabilities.
AI-Fueled Business Disruption Worries Dominated Market Sentiment In China
Li Chen
13 Feb, 2026
Hong Kong
Stocks in China traded down on Friday and extended weekly losses amid growing concerns about the AI-related business disruptions in several industries.
The Hang Seng Index decreased 1.8%, and the mainland-focused CSI 300 Index eased 0.8% as investors debated the future earnings growth outlook.
For the week, the Hang Seng Index decreased 1.6%, and the CSI Index declined 0.3%, reflecting growing unease about the elevated AI infrastructure spending and lagging returns.
Those worries were compounded by the business disruption concerns in the software services, healthcare administration, financial services providers, and manufacturing industry.
Commodities markets also faced another week of elevated volatility as regulators tightened margin rules for the purchase of gold and silver and curbed excessive speculation.
China Indexes and Stocks
The Hang Seng Index decreased 1.8% to 26,547.97, and the mainland-focused CSI 300 Index declined 0.8% to 4,681.92.
Zijin Mining Group decreased 5.2% to HK $42.68, and Zijin Gold International dropped 2.2% amid a weakness in prices for gold and silver.
Lenovo Group rebounded 2.2% to HK $9.20 after falling as much as 7% in the previous session after the company reported a sharp decline in December quarter profit.
The PC maker reported a 21% decline in profit on record revenue of $2.22 billion, largely driven by a surge in memory prices fueled by the rapid expansion of AI data centers.
MiniMax Group soared 9.4% to HK $643.50 after the company released AI models to improve business workflow.
MiniMax claimed that its latest AI models, which cost a fraction of similar models released by OpenAI and Anthropic, are "too cheap to meter."
AI companies have often been criticized for exaggerating claims of their models' capabilities.
January's Job Growth Raised Prospects of Future Downward Revisions
Barry Adams
11 Feb, 2026
New York City
Wall Street indexes meandered on Wednesday as investors awaited the release of key economic data this week.
The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite declined 0.2% as investors reacted to the latest corporate results.
The U.S. economy likely added 130,000 net new jobs in January, reinforcing signs of a cooling job market as employers shift their focus on cutting operating costs in the face of a sharp jump in tariffs.
The jobless rate fell to 4.3%, while annual wage gains slowed to 3.7% from 3.8% in December.
The Bureau of Labor Statistics also released its annual benchmark revisions and updated seasonal adjustment factors, and these revisions are expected to confirm a sharply slower pace of hiring in 2025.
The change in total nonfarm payroll employment for November was revised down by 15,000 to 41,000, and the change for December was revised down by 2,000, to 48,000.
With these revisions, employment in November and December combined is 17,000 lower than previously reported.
After the revisions, U.S. employers added 181,000 net new jobs in 2025, sharply lower than the previous estimate of 584,000.
U.S. Movers
Lyft Inc. decreased 17.7% to $13.86 after the ride-hailing platform operator's first quarter adjusted earnings outlook fell short of market expectations.
Revenue in the fourth quarter increased 3% to $1.6 billion from $1.55 billion, net income soared to $2.8 billion from $61.7 million, and diluted earnings per share rose to $6.72 from 15 cents a year ago.
The fourth quarter results included a benefit from the release of the valuation allowance.
Gross bookings increased to $5.1 billion from $4.3 billion, active riders rose to 29.2 million from 24.7 million, and active rides advanced to 243.5 million from 218.5 million a year ago, respectively.
Robinhood Markets plunged 9.2% to $77.68 after the trading app operator reported weaker-than-expected revenue in the fourth quarter.
Revenue increased 27% to $1.28 billion from $1.0 billion, net income decreased to $605 million from $916 million, and diluted earnings per share dropped to 66 cents from $1.01 a year ago.
Net income in the prior year included $424 million from the tax benefit and regulatory accrual.
In the fourth quarter, transaction-based revenues increased 15% to $776 million, primarily driven by other transaction revenue advances of 300% to $147 million, options revenue rises of 41% to $314 million, and equities revenue jumps of 54% to $94 million, partially offset by cryptocurrencies revenue of $221 million, which declined 38%.
January's Job Growth Raised Prospects of Future Downward Revisions
Barry Adams
11 Feb, 2026
New York City
Wall Street indexes meandered on Wednesday as investors awaited the release of key economic data this week.
The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite declined 0.2% as investors reacted to the latest corporate results.
The U.S. economy likely added 130,000 net new jobs in January, reinforcing signs of a cooling job market as employers shift their focus on cutting operating costs in the face of a sharp jump in tariffs.
The jobless rate fell to 4.3%, while annual wage gains slowed to 3.7% from 3.8% in December.
The Bureau of Labor Statistics also released its annual benchmark revisions and updated seasonal adjustment factors, and these revisions are expected to confirm a sharply slower pace of hiring in 2025.
The change in total nonfarm payroll employment for November was revised down by 15,000 to 41,000, and the change for December was revised down by 2,000, to 48,000.
With these revisions, employment in November and December combined is 17,000 lower than previously reported.
After the revisions, U.S. employers added 181,000 net new jobs in 2025, sharply lower than the previous estimate of 584,000.
U.S. Movers
Lyft Inc. decreased 17.7% to $13.86 after the ride-hailing platform operator's first quarter adjusted earnings outlook fell short of market expectations.
Revenue in the fourth quarter increased 3% to $1.6 billion from $1.55 billion, net income soared to $2.8 billion from $61.7 million, and diluted earnings per share rose to $6.72 from 15 cents a year ago.
The fourth quarter results included a benefit from the release of the valuation allowance.
Gross bookings increased to $5.1 billion from $4.3 billion, active riders rose to 29.2 million from 24.7 million, and active rides advanced to 243.5 million from 218.5 million a year ago, respectively.
Robinhood Markets plunged 9.2% to $77.68 after the trading app operator reported weaker-than-expected revenue in the fourth quarter.
Revenue increased 27% to $1.28 billion from $1.0 billion, net income decreased to $605 million from $916 million, and diluted earnings per share dropped to 66 cents from $1.01 a year ago.
Net income in the prior year included $424 million from the tax benefit and regulatory accrual.
In the fourth quarter, transaction-based revenues increased 15% to $776 million, primarily driven by other transaction revenue advances of 300% to $147 million, options revenue rises of 41% to $314 million, and equities revenue jumps of 54% to $94 million, partially offset by cryptocurrencies revenue of $221 million, which declined 38%.
China Inflationary Forces Cooled In January, SMIC Offered Cautious Outlook
Li Chen
11 Feb, 2026
Hong Kong
Stocks in China attempted to advance ahead of Lunar New Year holidays next week, and investors reacted to corporate news.
The Hang Seng Index increased 0.4%, and the mainland-focused CSI 300 Index advanced 0.2% amid expectations of an improving earnings outlook for artificial intelligence-linked stocks.
In thin trading ahead of next week's holiday-shortened week, investors reacted to the latest quarterly results from Wuxi Biologics, SMIC, Shaanxi International, and NetEase.
China's inflationary pressures eased in January amid persistent consumer demand growth and supply overcapacity worries.
Consumer price inflation eased to 0.2% in January from 0.8% in December, driven by a decrease in food prices for the first time in three months.
The so-called core inflation, which excludes food and energy prices, inched higher 0.8% after rising by 1.2% in November and December.
On a monthly basis, consumer price inflation rose 0.2%, matching the December level, added the National Bureau of Statistics.
China's producer price inflation declined for the 40th consecutive month as businesses struggled with intense price competition, according to a separate report by the statistical bureau.
Producer price inflation decreased 1.4% in January, slowing from a 1.9% decline in December and marking the weakest fall since July 2024 as Beijing urged businesses to refrain from excessive price competition.
China Indexes and Stocks
The Hang Seng Index added 0.4% to 27,281.92, and the tech-heavy Nasdaq Composite advanced 0.2% to 4,717.41.
Lenovo Group advanced 1% to HK $9.44 ahead of the PC maker's quarterly results amid expectations of the company benefiting from a data center-driven investment supercycle.
SMIC declined 1% to HK$68.85 after the advanced chipmaker's results surpassed market expectations based on strong demand for its chips, but the company's cautious outlook negatively impacted its stock price.
The company reported a 61% rise in profit to $172.9 million in the fourth quarter, and revenue surged to a record high of $2.49 billion.
China Inflationary Forces Cooled In January, SMIC Offered Cautious
Li Chen
11 Feb, 2026
Hong Kong
Stocks in China attempted to advance ahead of Lunar New Year holidays next week, and investors reacted to corporate news.
The Hang Seng Index increased 0.4%, and the mainland-focused CSI 300 Index advanced 0.2% amid expectations of an improving earnings outlook for artificial intelligence-linked stocks.
In thin trading ahead of next week's holiday-shortened week, investors reacted to the latest quarterly results from Wuxi Biologics, SMIC, Shaanxi International, and NetEase.
China's inflationary pressures eased in January amid persistent demand growth worries and supply overcapacity worries.
Consumer price inflation eased to 0.2% in January from 0.8% in December, driven by a decrease in food prices for the first time in three months.
The so-called core inflation, which excludes food and energy prices, inched higher 0.8% after rising by 1.2% in November and December.
On a monthly basis, consumer price inflation rose 0.2%, matching the December level, added the National Bureau of Statistics.
China's producer price inflation declined for the 40th consecutive month as businesses struggled with intense price competition, according to a separate report by the statistical bureau.
Producer price inflation decreased 1.4% in January, slowing from a 1.9% decline in December and marking the weakest fall since July 2024 as Beijing urged businesses to refrain from excessive price competition.
China Indexes and Stocks
The Hang Seng Index added 0.4% to 27,281.92, and the tech-heavy Nasdaq Composite advanced 0.2% to 4,717.41.
Lenovo Group advanced 1% to HK $9.44 ahead of the PC maker's quarterly results amid expectations of the company benefiting from a data center-driven investment supercycle.
SMIC declined 1% to HK$68.85 after the advanced chipmaker's results surpassed market expectations based on strong demand for its chips, but the company's cautious outlook negatively impacted its stock price.
The company reported a 61% rise in profit to $172.9 million in the fourth quarter, and revenue surged to a record high of $2.49 billion.
U.S. Movers: On Semiconductor, Upwork
Scott Peters
10 Feb, 2026
New York City
On Semiconductor Corp. decreased 4.5% to $62.11 after the advanced chipmaker reported mixed fourth-quarter results.
Revenue decreased to $1.5 billion from $1.7 billion, net income attributable to shareholders fell to $181.8 million from $379.9 million, and diluted earnings per share eased to 45 cents from 88 cents a year ago.
The company announced a new share repurchase program of up to $6 billion over the next three years and established a new collaboration agreement with GlobalFoundries to develop and manufacture next-generation gallium nitride (GaN) power devices, beginning with 650 volts.
On Semiconductor estimated first-quarter revenue to range between $1.44 billion and $1.54 billion and diluted earnings per share between 28 cents and 38 cents.
Upwork Inc. plunged 24% to $14.16 after the freelance platform operator reported a sharp decline in active clients at the end of 2025 and offered a weak revenue outlook for the current quarter.
Revenue increased 4% to $198.4 million from $119.1 million, net income plunged to $15.6 million from $147.2 million, and diluted earnings per share dropped to 12 cents from $1.03 a year ago.
The income tax benefit of $128.8 million in the fourth quarter of 2024 swung to a provision of $18.4 million in the corresponding period in 2025, which sharply impacted the net income in the final quarter of 2025.
Active clients at the end of 2025 decreased to 785,000 from 832,000, and gross sales value increased 7% to $5,129 from the same period a year ago, respectively.
U.S. Movers: On Semiconductor, Upwork
Scott Peters
10 Feb, 2026
New York City
On Semiconductor Corp. decreased 4.5% to $62.11 after the advanced chipmaker reported mixed fourth-quarter results.
Revenue decreased to $1.5 billion from $1.7 billion, net income attributable to shareholders fell to $181.8 million from $379.9 million, and diluted earnings per share eased to 45 cents from 88 cents a year ago.
The company announced a new share repurchase program of up to $6 billion over the next three years and established a new collaboration agreement with GlobalFoundries to develop and manufacture next-generation gallium nitride (GaN) power devices, beginning with 650 volts.
On Semiconductor estimated first-quarter revenue to range between $1.44 billion and $1.54 billion and diluted earnings per share between 28 cents and 38 cents.
Upwork Inc. plunged 24% to $14.16 after the freelance platform operator reported a sharp decline in active clients at the end of 2025 and offered a weak revenue outlook for the current quarter.
Revenue increased 4% to $198.4 million from $119.1 million, net income plunged to $15.6 million from $147.2 million, and diluted earnings per share dropped to 12 cents from $1.03 a year ago.
The income tax benefit of $128.8 million in the fourth quarter of 2024 swung to a provision of $18.4 million in the corresponding period in 2025, which sharply impacted the net income in the final quarter of 2025.
Active clients at the end of 2025 decreased to 785,000 from 832,000, and gross sales value increased 7% to $5,129 from the same period a year ago, respectively.
U.S. Investors Hold Out for Higher Highs Despite Recent AI Jitters
Barry Adams
10 Feb, 2026
New York City
U.S. stocks edged lower in early trading, and investors awaited key economic data later in the week.
The S&P 500 Index declined 0.06%, and the tech-heavy Nasdaq Composite decreased 0.2% after rallying for two straight sessions.
Bargain hunters returned on Friday, and the advance in tech stocks continued for the second consecutive session on Monday as optimism prevailed.
Despite last week's sell-off, investors are hopeful that market indexes can continue to make new highs amid earnings optimism.
On the economic front, retail sales data are scheduled on Tuesday, nonfarm payrolls on Wednesday, and a consumer inflation update on Friday.
This week, investors are looking forward to the release of quarterly updates from Coca-Cola Company, Cisco, Hasbro, Spotify, McDonald's, Applied Materials, Becton Dickinson, Arista Networks, S&P Global, and Moody's Corporation.
U.S. Movers
On Semiconductor Corp. decreased 4.5% to $62.11 after the advanced chipmaker reported mixed fourth-quarter results.
Revenue decreased to $1.5 billion from $1.7 billion, net income attributable to shareholders fell to $181.8 million from $379.9 million, and diluted earnings per share eased to 45 cents from 88 cents a year ago.
The company announced a new share repurchase program of up to $6 billion over the next three years and established a new collaboration agreement with GlobalFoundries to develop and manufacture next-generation gallium nitride (GaN) power devices, beginning with 650 volts.
On Semiconductor estimated first-quarter revenue to range between $1.44 billion and $1.54 billion and diluted earnings per share between 28 cents and 38 cents.
Upwork Inc. plunged 24% to $14.16 after the freelance platform operator reported a sharp decline in active clients at the end of 2025 and offered a weak revenue outlook for the current quarter.
Revenue increased 4% to $198.4 million from $119.1 million, net income plunged to $15.6 million from $147.2 million, and diluted earnings per share dropped to 12 cents from $1.03 a year ago.
The income tax benefit of $128.8 million in the fourth quarter of 2024 swung to a provision of $18.4 million in the corresponding period in 2025, which sharply impacted the net income in the final quarter of 2025.
Active clients at the end of 2025 decreased to 785,000 from 832,000, and gross sales value increased 7% to $5,129 from the same period a year ago, respectively.
U.S. Investors Hold Out for Higher Highs Despite Recent AI Jitters
Barry Adams
10 Feb, 2026
New York City
U.S. stocks edged lower in early trading, and investors awaited key economic data later in the week.
The S&P 500 Index declined 0.06%, and the tech-heavy Nasdaq Composite decreased 0.2% after rallying for two straight sessions.
Bargain hunters returned on Friday, and the advance in tech stocks continued for the second consecutive session on Monday as optimism prevailed.
Despite last week's sell-off, investors are hopeful that market indexes can continue to make new highs amid earnings optimism.
On the economic front, retail sales data are scheduled on Tuesday, nonfarm payrolls on Wednesday, and a consumer inflation update on Friday.
This week, investors are looking forward to the release of quarterly updates from Coca-Cola Company, Cisco, Hasbro, Spotify, McDonald's, Applied Materials, Becton Dickinson, Arista Networks, S&P Global, and Moody's Corporation.
U.S. Movers
On Semiconductor Corp. decreased 4.5% to $62.11 after the advanced chipmaker reported mixed fourth-quarter results.
Revenue decreased to $1.5 billion from $1.7 billion, net income attributable to shareholders fell to $181.8 million from $379.9 million, and diluted earnings per share eased to 45 cents from 88 cents a year ago.
The company announced a new share repurchase program of up to $6 billion over the next three years and established a new collaboration agreement with GlobalFoundries to develop and manufacture next-generation gallium nitride (GaN) power devices, beginning with 650 volts.
On Semiconductor estimated first-quarter revenue to range between $1.44 billion and $1.54 billion and diluted earnings per share between 28 cents and 38 cents.
Upwork Inc. plunged 24% to $14.16 after the freelance platform operator reported a sharp decline in active clients at the end of 2025 and offered a weak revenue outlook for the current quarter.
Revenue increased 4% to $198.4 million from $119.1 million, net income plunged to $15.6 million from $147.2 million, and diluted earnings per share dropped to 12 cents from $1.03 a year ago.
The income tax benefit of $128.8 million in the fourth quarter of 2024 swung to a provision of $18.4 million in the corresponding period in 2025, which sharply impacted the net income in the final quarter of 2025.
Active clients at the end of 2025 decreased to 785,000 from 832,000, and gross sales value increased 7% to $5,129 from the same period a year ago, respectively.
Takaichi's Election Win Powers 2-Day Tokyo Market Rally
Akira Ito
10 Feb, 2026
Tokyo
Stocks in Japan advanced for the second consecutive session on Tuesday following Prime Minister Sanae Takaichi's solid victory in Sunday's general election.
The Nikkei 225 Stock Average soared 2.4%, the broader Topix Index increased 1.8%, and the yen strengthened to 155.45 against the U.S. dollar.
Prime Minister Sanae Takaichi is expected to push for higher government spending, lower income tax, and suspension of the 8% sales tax on food for two years.
However, investors are worried that the government's focus on expanding fiscal spending could spike inflation and drive the yen lower.
For now, investors appear to give Takaichi's administration the benefit of the doubt after she said expanded stimulus measures are not likely to strain Japan's public finances.
In overnight trading, benchmark indexes in New York advanced for the second consecutive session on Monday as investors searched for bargains in recently beaten-down stocks.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 2.4% to 57,683.64, and the broader Topix Index added 1.8% to 3,851.34.
Fujikura Ltd. jumped 4.5% to ¥22,945.0, Kioxia Holdings Corp. advanced 2.4% to ¥18,780.0, and SoftBank Group increased 11% to ¥4,717.0.
Sumitomo Mitsui Financial Group increased 2.9% to ¥6,157.0, Mitsubishi UFJ Financial Group advanced 2.7% to ¥3,039.0, and Mizuho Financial Group 3.9% to ¥7,850.0.
Takaichi's Election Win Powers 2-Day Tokyo Market Rally
Akira Ito
10 Feb, 2026
Tokyo
Stocks in Japan advanced for the second consecutive session on Tuesday following Prime Minister Sanae Takaichi's solid victory in Sunday's general election.
The Nikkei 225 Stock Average soared 2.4%, the broader Topix Index increased 1.8%, and the yen strengthened to 155.45 against the U.S. dollar.
Prime Minister Sanae Takaichi is expected to push for higher government spending, lower income tax, and suspension of the 8% sales tax on food for two years.
However, investors are worried that the government's focus on expanding fiscal spending could spike inflation and drive the yen lower.
For now, investors appear to give Takaichi's administration the benefit of the doubt after she said expanded stimulus measures are not likely to strain Japan's public finances.
In overnight trading, benchmark indexes in New York advanced for the second consecutive session on Monday as investors searched for bargains in recently beaten-down stocks.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 2.4% to 57,683.64, and the broader Topix Index added 1.8% to 3,851.34.
Fujikura Ltd. jumped 4.5% to ¥22,945.0, Kioxia Holdings Corp. advanced 2.4% to ¥18,780.0, and SoftBank Group increased 11% to ¥4,717.0.
Sumitomo Mitsui Financial Group increased 2.9% to ¥6,157.0, Mitsubishi UFJ Financial Group advanced 2.7% to ¥3,039.0, and Mizuho Financial Group 3.9% to ¥7,850.0.
Improving Sentiment Lifted Tech Stocks in China and Hong Kong Trading
Li Chen
10 Feb, 2026
Hong Kong
Bargain hunters returned in search of beaten-down tech stocks in Tuesday's trading amid improving market sentiment.
The Hang Seng Index increased 0.4%, and the CSI 300 Index edged higher 0.01% following a 2-day rebound in tech stocks in New York.
Technology, the Internet, and artificial intelligence-driven stocks rebounded as investors held out for higher earnings.
The S&P 500 index and the Nasdaq Composite extended 2-day gains to over 2.5% amid receding fears of business model disruption for software services providers.
Last week, software service providers dropped as much as 10% amid fears that the recent advances in artificial intelligence could slow down future revenue growth.
Benchmark indexes in Japan jumped 2.5% and extended a 2-day gain over 6% after the ruling LDP party increased its seat count in the lower house of the parliament in a historic win.
China Indexes and Stocks
The Hang Seng Index gained 0.4% to 27,170.44, and the CSI 300 Index edged up 0.01% to 4,719.81.
Alibaba Group gained 1.6% to HK $160.0, JD.com Inc. added 2.2% to HK $110.40, Tencent Holdings decreased 1.1% to HK $553.0, and Meituan declined 3.2% to HK $88.15.
Axera Semiconductor traded at HK $28.48 after the artificial intelligence chip maker priced its offering at HK $28.20 per share.
The system-on-chip designer raised HK $2.96 billion in gross proceeds through the sale of 104.9 million shares.
Axera's stock struggled to advance despite the company's public offering being oversubscribed by more than 74 times during the book-building process.
On Monday, Montage Technology soared 65% after the designer of high-speed interconnects for data centers listed its stock on the exchanges in Hong Kong and Shanghai and raised HK$7 billion.