Volatile Crude Oil Prices Rebound Amid Uncertainty Over Hormuz Shipping Resumption

Barry Adams
17 Mar, 2026
New York City

U.S. stocks lost ground after the volatile crude oil prices reversed the previous session's decline amid the uncertainty over the formation of a U.S.-led international coalition to escort oil tankers in the Middle East. 

The S&P 500 Index decreased 0.4%, the tech-heavy Nasdaq Composite eased 0.6%, and crude oil prices rose as much as 4%. 

Crude oil prices in New York advanced 2.8% to $96.15 a barrel, and the Brent crude oil prices in London rose 2.9% to $102.25 a barrel as tensions remained high in the Strait of Hormuz. 

European nations and NATO members showed little urgency in participating in the U.S.-led coalition to protect shipping through the Strait of Hormuz. 

Israel's unprovoked war on Iran, supported by the U.S., is approaching the end of its third week and has engulfed at least fifteen neighboring nations. 

Moreover, Trump's false promises of ending the war and "achieving military objectives" in less than a week are wreaking havoc on passenger and cargo travel through the regions, roiling the global economy, and stoking worldwide inflation.

With the 60% jump in oil prices, the U.S.-Israel war is now stoking food inflation over 10% and adding 65 cents a gallon to retail prices of gasoline at U.S. gas stations. 

Moreover, retail petrol prices in Japan, South Korea, India, and Europe have jumped between 8% and 25%.

U.S. Movers 

Dollar General Corp. gained 2.3% to $134.85 after the deep discount retailer reported better-than-expected results in the fiscal fourth quarter ending on January 31.

Net sales increased to $10.9 billion from $10.3 billion, net income soared to $426.3 million from $191.2 million, and diluted earnings per share rose to $1.93 from 87 cents a year ago. 

In the quarter a year ago, the earnings per share included a negative impact of approximately $0.81 per share related to the "store portfolio optimization review."

Same store sales in the fiscal year rose 3.0%, driven by a 4.3% increase in sales in the fourth quarter. 

The fiscal year same-store sales rise reflected increases of 1.6% in customer traffic and 1.4% in average transaction amount and was driven by a growth in each of the consumables, seasonal, home products, and apparel categories.

The company's Board of Directors announced a 59-cent per share dividend payable on April 21 to shareholders on record on April 7. 

For the fiscal year 2026, the company estimated net sales to rise between 3.7% and 4.2%, diluted earnings per share between $7.10 and $7.35, and same-store sales growth in the range between 2.2% and 2.7%. 

Volatile Crude Oil Prices Rebound Amid Uncertainty Over Hormuz Shipping Resumption

Barry Adams
17 Mar, 2026
New York City

U.S. stocks lost ground after the volatile crude oil prices reversed the previous session's decline amid the uncertainty over the formation of a U.S.-led international coalition to escort oil tankers in the Middle East. 

The S&P 500 Index decreased 0.4%, the tech-heavy Nasdaq Composite eased 0.6%, and crude oil prices rose as much as 4%. 

Crude oil prices in New York advanced 2.8% to $96.15 a barrel, and the Brent crude oil prices in London rose 2.9% to $102.25 a barrel as tensions remained high in the Strait of Hormuz. 

European nations and NATO members showed little urgency in participating in the U.S.-led coalition to protect shipping through the Strait of Hormuz. 

Israel's unprovoked war on Iran, supported by the U.S., is approaching the end of its third week and has engulfed at least fifteen neighboring nations. 

Moreover, Trump's false promises of ending the war and "achieving military objectives" in less than a week are wreaking havoc on passenger and cargo travel through the regions, roiling the global economy, and stoking worldwide inflation.

With the 60% jump in oil prices, the U.S.-Israel war is now stoking food inflation over 10% and adding 65 cents a gallon to retail prices of gasoline at U.S. gas stations. 

Moreover, retail petrol prices in Japan, South Korea, India, and Europe have jumped between 8% and 25%.

U.S. Movers 

Dollar General Corp. gained 2.3% to $134.85 after the deep discount retailer reported better-than-expected results in the fiscal fourth quarter ending on January 31.

Net sales increased to $10.9 billion from $10.3 billion, net income soared to $426.3 million from $191.2 million, and diluted earnings per share rose to $1.93 from 87 cents a year ago. 

In the quarter a year ago, the earnings per share included a negative impact of approximately $0.81 per share related to the "store portfolio optimization review."

Same store sales in the fiscal year rose 3.0%, driven by a 4.3% increase in sales in the fourth quarter. 

The fiscal year same-store sales rise reflected increases of 1.6% in customer traffic and 1.4% in average transaction amount and was driven by a growth in each of the consumables, seasonal, home products, and apparel categories.

The company's Board of Directors announced a 59-cent per share dividend payable on April 21 to shareholders on record on April 7. 

For the fiscal year 2026, the company estimated net sales to rise between 3.7% and 4.2%, diluted earnings per share between $7.10 and $7.35, and same-store sales growth in the range between 2.2% and 2.7%. 

Japan Investors Reacted to Strait of Hormuz Developments Ahead of BoJ Rate Decisions

Akira Ito
17 Mar, 2026
Tokyo

Stocks in Tokyo edged higher for the second successive session amid easing worries over the passage of energy products through the Strait of Hormuz. 

The Nikkei 225 Stock Average inched higher 0.3%, and the broader Topix Index advanced 0.8% as easing oil prices lifted investor sentiment. 

Crude oil prices eased in early trading as several tankers safely navigated critical thoroughfares, supporting the expectations that energy product exports may return to normal levels sooner than expected.

Last week, the International Energy Agency, a group of 32 wealthy nations, announced its plan to release historic quantities of crude oil from its reserves, arresting the sharp escalation in oil prices.

Over the last two weeks, oil shock has gripped financial markets, and Asian markets have led the decline in global markets. Since the start of Israel's war on Iran, benchmark indexes in Japan have plunged 9%, in South Korea dropped 12%, and in India decreased 7%.

Markets in Europe have eased around 4%, and the U.S. lost about 3.6% as the U.S.-Iran war approached the end of the third week.

Meanwhile, the Bank of Japan is anticipated to hold its benchmark rates at the end of its 2-day meeting ending on March 19, amid heightened uncertainty over the Iran war's impact on the domestic economy and inflation.

Japan Indexes and Stocks 

The Nikkei 225 Stock Average added 0.3% to 53,902.67, and the broader Topix Index increased 0.8% to 3,637.21. 

Defense and financial stocks led gainers in Tokyo for the second consecutive session. 

Mitsubishi UFJ, Mizuho Financial, and Sumitomo Mitsui Financial gained around 2% ahead of the central bank's rate decisions. 

Mitsubishi Heavy gained 2.2%, Kawasaki Heavy advanced 0.4%, and IHI Corp. increased 1.8%. 

Nippon Yusen Corp. advanced 6.2% to ¥5,972.0, Mitsui O.S.K. Lines added 4.2% to ¥6,291.0, and Kawasaki Kisen Kaisha jumped 6.9% to ¥2,827.50.

Japan Investors Reacted to Strait of Hormuz Developments

Akira Ito
17 Mar, 2026
Tokyo

Stocks in Tokyo edged higher for the second successive session amid easing worries over the passage of energy products through the Strait of Hormuz. 

The Nikkei 225 Stock Average inched higher 0.3%, and the broader Topix Index advanced 0.8% as easing oil prices lifted investor sentiment. 

Crude oil prices eased in early trading as several tankers safely navigated critical thoroughfares, supporting the expectations that energy product exports may return to normal levels sooner than expected.

Last week, the International Energy Agency, a group of 32 wealthy nations, announced its plan to release historic quantities of crude oil from its reserves, arresting the sharp escalation in oil prices.

Over the last two weeks, oil shock has gripped financial markets, and Asian markets have led the decline in global markets. Since the start of Israel's war on Iran, benchmark indexes in Japan have plunged 9%, in South Korea dropped 12%, and in India decreased 7%.

Markets in Europe have eased around 4%, and the U.S. lost about 3.6% as the U.S.-Iran war approached the end of the third week.

Meanwhile, the Bank of Japan is anticipated to hold its benchmark rates at the end of its 2-day meeting ending on March 19, amid heightened uncertainty over the Iran war's impact on the domestic economy and inflation.

Japan Indexes and Stocks 

The Nikkei 225 Stock Average added 0.3% to 53,902.67, and the broader Topix Index increased 0.8% to 3,637.21. 

Defense and financial stocks led gainers in Tokyo for the second consecutive session. 

Mitsubishi UFJ, Mizuho Financial, and Sumitomo Mitsui Financial gained around 2% ahead of the central bank's rate decisions. 

Mitsubishi Heavy gained 2.2%, Kawasaki Heavy advanced 0.4%, and IHI Corp. increased 1.8%. 

Nippon Yusen Corp. advanced 6.2% to ¥5,972.0, Mitsui O.S.K. Lines added 4.2% to ¥6,291.0, and Kawasaki Kisen Kaisha jumped 6.9% to ¥2,827.50.

Tech Stocks Powered Rally In China Extended Broader Advance to Second Consecutive Day

Li Chen
17 Mar, 2026
Hong Kong

Stocks in China and Hong Kong advanced, tracking gains in overnight trading on Wall Street.

The Hang Seng Index added more than 1%, and the mainland-focused CSI 300 Index inched higher by 0.4%.

Stock market sentiment recovered in China and Asia amid easing worries over geopolitical conflict and inflation. 

However, tensions remained high, as Israeli military and politicians consider possibilities of using nuclear warheads against Iran to counter successful drone strikes.

The Israeli war on Iran, supported by the U.S., has already expanded to at least fifteen neighboring nations, including leading energy suppliers Qatar, Kuwait, Saudi Arabia, and Bahrain. 

The U.S. president said on Monday that the scheduled meeting with China's leader Xi Jinping for March 31 to April 2 may be delayed, as Trump's war on Iran extends to the third week.

China Indexes and Stocks 

The Hang Seng Index added 1.1% to 26,108.90, and the mainland-focused CSI 300 Index inched up 0.4% to 4,690.94. 

Tech stocks led gainers for the second session in a row, as bargain hunters returned. 

Alibaba Group, Meituan, Baidu, Tencent Holdings, and Xiaomi gained between 0.4% and 1.2%. 

Bright Smart Securities & Commodities Group soared 65% to HK $15.29 after the company said Ant Group-led takeover received regulatory approvals, clearing major hurdles for the deal to complete by March 30.

Tech Stocks Powered Rally In China Extended Broader Advance to Second Consecutive Day

Li Chen
17 Mar, 2026
Hong Kong

Stocks in China and Hong Kong advanced, tracking gains in overnight trading on Wall Street.

The Hang Seng Index added more than 1%, and the mainland-focused CSI 300 Index inched higher by 0.4%.

Stock market sentiment recovered in China and Asia amid easing worries over geopolitical conflict and inflation. 

However, tensions remained high, as Israeli military and politicians consider possibilities of using nuclear warheads against Iran to counter successful drone strikes.

The Israeli war on Iran, supported by the U.S., has already expanded to at least fifteen neighboring nations, including leading energy suppliers Qatar, Kuwait, Saudi Arabia, and Bahrain. 

The U.S. president said on Monday that the scheduled meeting with China's leader Xi Jinping for March 31 to April 2 may be delayed, as Trump's war on Iran extends to the third week.

China Indexes and Stocks 

The Hang Seng Index added 1.1% to 26,108.90, and the mainland-focused CSI 300 Index inched up 0.4% to 4,690.94. 

Tech stocks led gainers for the second session in a row, as bargain hunters returned. 

Alibaba Group, Meituan, Baidu, Tencent Holdings, and Xiaomi gained between 0.4% and 1.2%. 

Bright Smart Securities & Commodities Group soared 65% to HK $15.29 after the company said Ant Group-led takeover received regulatory approvals, clearing major hurdles for the deal to complete by March 30.

U.S. Stocks Remained Under Pressure for Fourth Consecutive Week

Barry Adams
16 Mar, 2026
New York City

Stocks on Wall Street attempted to rebound from another losing week, and investors reviewed the fast-changing war in the Middle East. 

The S&P 500 Index edged up 0.4%, and the tech-heavy Nasdaq Composite inched higher 0.6%.

World markets turned lower for the second consecutive week as crude prices raced to multi-year highs as conflict in the Middle East showed no signs of easing. 

China's generally positive economic data painted a positive picture for the start of 2026 as retail sales, industrial production, and overall fixed-asset investment advanced in the first two months. 

China's trade surplus continued to advance, driven by a rise in global exports despite geopolitical headwinds. 

China's retail sales advanced 2.8%, industrial output rose 6.3%, and the jobless rate ticked up to 5.3%, according to the statistical bureau.

The sustained rise in exports and China's large rebate program contributed to the solid economic data. 

As exports became less reliable and more volatile, China's policymakers have been pushing for higher domestic consumer spending, renewable energy-driven projects, and digital products. 

Despite the 11.1% decline in real estate investment, overall fixed investment increased 1.8% in the two-month period, confirming the sustained government spending. 

China's new home prices declined 3.2% from a year ago across 70 cities in the February period, according to the National Bureau of Statistics. 

New home prices fell for the 32nd consecutive month and decreased at the steepest pace since June.

Crude oil prices advanced for the fourth week, and the Strait of Hormuz, the key passage for oil shipments in the region, remained closed for the third week. 

In early trading on Monday, the Texas crude oil advanced 1% to $100.36 a barrel before settling down to $97.25 a barrel, and Brent crude edged up 0.3% to 103.35 a barrel. 

U.S. Movers 

Oil companies led the most actively traded stocks in New York. 

Exxon Mobil, Chevron, ConocoPhillips, and EOG Resources advanced between 0.5% and 2%. 

Micron Technology advanced 4.4% to $444.60, and the memory chipmaker announced its plan to build a second plant in Taiwan. 

U.S. Stocks Remained Under Pressure for Fourth Consecutive Week

Barry Adams
16 Mar, 2026
New York City

Stocks on Wall Street attempted to rebound from another losing week, and investors reviewed the fast-changing war in the Middle East. 

The S&P 500 Index edged up 0.4%, and the tech-heavy Nasdaq Composite inched higher 0.6%.

World markets turned lower for the second consecutive week as crude prices raced to multi-year highs as conflict in the Middle East showed no signs of easing. 

China's generally positive economic data painted a positive picture for the start of 2026 as retail sales, industrial production, and overall fixed-asset investment advanced in the first two months. 

China's trade surplus continued to advance, driven by a rise in global exports despite geopolitical headwinds. 

China's retail sales advanced 2.8%, industrial output rose 6.3%, and the jobless rate ticked up to 5.3%, according to the statistical bureau.

The sustained rise in exports and China's large rebate program contributed to the solid economic data. 

As exports became less reliable and more volatile, China's policymakers have been pushing for higher domestic consumer spending, renewable energy-driven projects, and digital products. 

Despite the 11.1% decline in real estate investment, overall fixed investment increased 1.8% in the two-month period, confirming the sustained government spending. 

China's new home prices declined 3.2% from a year ago across 70 cities in the February period, according to the National Bureau of Statistics. 

New home prices fell for the 32nd consecutive month and decreased at the steepest pace since June.

Crude oil prices advanced for the fourth week, and the Strait of Hormuz, the key passage for oil shipments in the region, remained closed for the third week. 

In early trading on Monday, the Texas crude oil advanced 1% to $100.36 a barrel before settling down to $97.25 a barrel, and Brent crude edged up 0.3% to 103.35 a barrel. 

U.S. Movers 

Oil companies led the most actively traded stocks in New York. 

Exxon Mobil, Chevron, ConocoPhillips, and EOG Resources advanced between 0.5% and 2%. 

Micron Technology advanced 4.4% to $444.60, and the memory chipmaker announced its plan to build a second plant in Taiwan. 

China's Economy Showed Resilience at Start of 2026, New Home Prices Extended Decline

Li Chen
16 Mar, 2026
Hong Kong

China's stocks lacked direction amid geopolitical uncertainty and growing worries about external shocks to the economy. 

The Hang Seng Index increased 1.2%, and the mainland-focused CSI 300 Index decreased 0.2% as investors debated the latest economic updates.

Retail sales, fixed-asset investment, urban jobless rate, and home prices showed a mixed economic picture over the January-February period from a year ago.

China's retail sales advanced 2.8%, industrial output rose 6.3%, and the jobless rate ticked up to 5.3%, according to the statistical bureau.

The sustained rise in exports and China's large rebate program contributed to the solid economic data. 

As exports became less reliable and more volatile, China's policymakers have been pushing for higher domestic consumer spending, renewable energy-driven projects, and digital products. 

Despite the 11.1% decline in real estate investment, overall fixed investment increased 1.8% in the two-month period, confirming the sustained government spending. 

China's new home prices declined 3.2% from a year ago across 70 cities in the February period, according to the National Bureau of Statistics. 

New home prices fell for the 32nd consecutive month and decreased at the steepest pace since June.

The latest data confirmed the uphill task faced by policymakers in stabilizing the residential housing market, and so far the government's measured and incremental supports have failed to arrest price decline.

New home prices from a year ago in Beijing declined 2.3%, in Shenzhen fell 5.5%, in Guangzhou decreased 5.1%, and in Tianjin eased 4.2%.

However, prices in Shanghai rose 4.2%, matching the pace of increase in the previous month. 

China Indexes and Stocks 

The Hang Seng Index increased 1.2% to 25,778.81, and the mainland-focused CSI 300 Index decreased 0.2% to 4,662.84. 

Tech stocks in Hong Kong rebounded amid improving sentiment, and investors searched for bargains. 

Tencent Holdings, Xiaomi, Alibaba Group, and Meituan gained between 1% and 5%. 

China's Economy Showed Resilience at Start of 2026, New Home Prices Extended Decline

Li Chen
16 Mar, 2026
Hong Kong

China's stocks lacked direction amid geopolitical uncertainty and growing worries about external shocks to the economy. 

The Hang Seng Index increased 1.2%, and the mainland-focused CSI 300 Index decreased 0.2% as investors debated the latest economic updates.

Retail sales, fixed-asset investment, urban jobless rate, and home prices showed a mixed economic picture over the January-February period from a year ago.

China's retail sales advanced 2.8%, industrial output rose 6.3%, and the jobless rate ticked up to 5.3%, according to the statistical bureau.

The sustained rise in exports and China's large rebate program contributed to the solid economic data. 

As exports became less reliable and more volatile, China's policymakers have been pushing for higher domestic consumer spending, renewable energy-driven projects, and digital products. 

Despite the 11.1% decline in real estate investment, overall fixed investment increased 1.8% in the two-month period, confirming the sustained government spending. 

China's new home prices declined 3.2% from a year ago across 70 cities in the February period, according to the National Bureau of Statistics. 

New home prices fell for the 32nd consecutive month and decreased at the steepest pace since June.

The latest data confirmed the uphill task faced by policymakers in stabilizing the residential housing market, and so far the government's measured and incremental supports have failed to arrest price decline.

New home prices from a year ago in Beijing declined 2.3%, in Shenzhen fell 5.5%, in Guangzhou decreased 5.1%, and in Tianjin eased 4.2%.

However, prices in Shanghai rose 4.2%, matching the pace of increase in the previous month. 

China Indexes and Stocks 

The Hang Seng Index increased 1.2% to 25,778.81, and the mainland-focused CSI 300 Index decreased 0.2% to 4,662.84. 

Tech stocks in Hong Kong rebounded amid improving sentiment, and investors searched for bargains. 

Tencent Holdings, Xiaomi, Alibaba Group, and Meituan gained between 1% and 5%. 

Japan's Indexes Extended Losses Amid Broad Sell-Off Driven by Resurgent Inflation Worries

Akira Ito
13 Mar, 2026
Tokyo

Stocks in Tokyo declined on Friday as tensions in the Middle East escalated amid hardening positions by the leaders of Iran and the U.S. 

The Nikkei 225 Stock Average decreased 1.3%, the broader Topix declined 0.7%, and the yen weakened to a multi-month low of 159.75 against the U.S. dollar. 

About 80% of oil and gas shipments through the Strait of Hormuz arrive at ports in Asia, and a prolonged disturbance in the shipments is likely to drive food and fuel prices higher in the region. 

Retail petrol prices in South Korea, Japan, and India have already surged between 30% and 50% over the last three weeks, driven by the worries that shipments from the Middle East producers may be curtailed for weeks, if not months.

In addition, a weaker yen is likely to amplify imported inflation as oil prices rise, potentially nudging the central bank to normalize interest rates at an accelerated pace. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average decreased 1.3% to HK$53,753.12, and the broader Topix Index fell 0.7% to 3,625.91. 

For the week, two benchmark indexes advanced more than 3%, despite the elevated tensions in the Middle East and worries of a resurgent inflation. 

Technology and consumer stocks led the downturn on Friday. 

Kioxia Holdings decreased 0.9%, Advantest Corp. fell 3.4%, Tokyo Electron declined 3.6%, and SoftBank Group eased 4.5%. 

Fast Retailing decreased 0.5%, Seven and I Holdings rose 0.6%, and Eneos Holdings advanced 0.5%. 

Marubeni Corp. advanced 4%, Itochu Corp. gained an additional 0.6%, and Mitsubishi Corp. increased 1.8%. 

Japan's Indexes Extended Losses Amid Broad Sell-Off Driven by Resurgent Inflation Worries

Akira Ito
13 Mar, 2026
Tokyo

Stocks in Tokyo declined on Friday as tensions in the Middle East escalated amid hardening positions by the leaders of Iran and the U.S. 

The Nikkei 225 Stock Average decreased 1.3%, the broader Topix declined 0.7%, and the yen weakened to a multi-month low of 159.75 against the U.S. dollar. 

About 80% of oil and gas shipments through the Strait of Hormuz arrive at ports in Asia, and a prolonged disturbance in the shipments is likely to drive food and fuel prices higher in the region. 

Retail petrol prices in South Korea, Japan, and India have already surged between 30% and 50% over the last three weeks, driven by the worries that shipments from the Middle East producers may be curtailed for weeks, if not months.

In addition, a weaker yen is likely to amplify imported inflation as oil prices rise, potentially nudging the central bank to normalize interest rates at an accelerated pace. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average decreased 1.3% to HK$53,753.12, and the broader Topix Index fell 0.7% to 3,625.91. 

For the week, two benchmark indexes advanced more than 3%, despite the elevated tensions in the Middle East and worries of a resurgent inflation. 

Technology and consumer stocks led the downturn on Friday. 

Kioxia Holdings decreased 0.9%, Advantest Corp. fell 3.4%, Tokyo Electron declined 3.6%, and SoftBank Group eased 4.5%. 

Fast Retailing decreased 0.5%, Seven and I Holdings rose 0.6%, and Eneos Holdings advanced 0.5%. 

Marubeni Corp. advanced 4%, Itochu Corp. gained an additional 0.6%, and Mitsubishi Corp. increased 1.8%. 

China's Indexes Trimmed Weekly Gains, Crude Oil Prices Hovered Near Multi-Year Highs

Li Chen
13 Mar, 2026
Hong Kong

Stocks in China and Hong Kong declined as Middle East tensions show no signs of easing. 

The Hang Seng Index decreased 0.5%, and the mainland-focused CSI 300 Index declined 0.02% amid resurgent crude oil prices. 

The Middle East tensions remained elevated as the U.S. and Iran hardened their positions amid mounting destruction and loss of lives. 

Israel, despite its hawkish rhetoric and military superiority over Iran, has been successfully hit by Iran's missiles and drones. Moreover, U.S. military bases have suffered severe damage in Bahrain, Kuwait, and Doha.

Advanced weapons are not likely to determine the outcome of the latest phase of war on Iran, as Israel ramped up its attacks on Lebanon and several cities in Iran, including Tehran.

The Brent crude price soared above $100 a barrel after the recently appointed Iran's Supreme Leader, Mojtaba Khemenei, declared his intentions to keep the Strait of Hormuz closed for the foreseeable future. 

The U.S. president, reversing his earlier position, announced his plans to continue the war and prevent Iran from pursuing its nuclear weapons program. 

Israel is widely estimated to have at least 200 nuclear-powered weapons, capable of wiping out all nations in the Middle East and Europe. 

China Indexes and Stocks 

The Hang Seng Index decreased 0.5% to 25,593.25, and the mainland-focused CSI 300 Index edged down 0.02% to 4,686.51. 

Ocean freight companies led the most actively traded stocks following elevated tensions in the Middle East. 

Orient Overseas International decreased 5.1% to HK $146.30, COSCO Shipping Holdings dropped 2.8% to HK $15.48, and China Merchants Port Holdings declined 0.1% to HK $16.88. 

ZTO Express increased 2.9% to HK $189.70, and JD.com gained 1.1% to HK $110.80. 

MTR Corp. declined 6% to HK$32.54 after the Mass Transit Railway system operator reported a 7% decline in net income in 2025. 

Cathay Pacific dropped 3.3% to HK $12.55 after the airline announced its 2025 net income advanced 9.5% to HK $10.82 billion. 

The increase in profit was driven by a higher passenger capacity and a surge in demand for its cargo services. 

The conglomerate Swire Pacific lowered its stake in the company to raise working capital. 

The group, in a regulatory filing on Friday, confirmed it sold 153.05 million shares at HK $11.74 each on the previous trading day, offering a 9.6% discount to Thursday's closing price of HK $12.99.

China's Indexes Trimmed Weekly Gains, Crude Oil Prices Hovered Near Multi-Year Highs

Li Chen
13 Mar, 2026
Hong Kong

Stocks in China and Hong Kong declined as Middle East tensions show no signs of easing. 

The Hang Seng Index decreased 0.5%, and the mainland-focused CSI 300 Index declined 0.02% amid resurgent crude oil prices. 

The Middle East tensions remained elevated as the U.S. and Iran hardened their positions amid mounting destruction and loss of lives. 

Israel, despite its hawkish rhetoric and military superiority over Iran, has been successfully hit by Iran's missiles and drones. Moreover, U.S. military bases have suffered severe damage in Bahrain, Kuwait, and Doha.

Advanced weapons are not likely to determine the outcome of the latest phase of war on Iran, as Israel ramped up its attacks on Lebanon and several cities in Iran, including Tehran.

The Brent crude price soared above $100 a barrel after the recently appointed Iran's Supreme Leader, Mojtaba Khemenei, declared his intentions to keep the Strait of Hormuz closed for the foreseeable future. 

The U.S. president, reversing his earlier position, announced his plans to continue the war and prevent Iran from pursuing its nuclear weapons program. 

Israel is widely estimated to have at least 200 nuclear-powered weapons, capable of wiping out all nations in the Middle East and Europe. 

China Indexes and Stocks 

The Hang Seng Index decreased 0.5% to 25,593.25, and the mainland-focused CSI 300 Index edged down 0.02% to 4,686.51. 

Ocean freight companies led the most actively traded stocks following elevated tensions in the Middle East. 

Orient Overseas International decreased 5.1% to HK $146.30, COSCO Shipping Holdings dropped 2.8% to HK $15.48, and China Merchants Port Holdings declined 0.1% to HK $16.88. 

ZTO Express increased 2.9% to HK $189.70, and JD.com gained 1.1% to HK $110.80. 

MTR Corp. declined 6% to HK$32.54 after the Mass Transit Railway system operator reported a 7% decline in net income in 2025. 

Crude Oil Prices Soared Amid Prolonged Strait of Hormuz Shipment Disruption Worries

Barry Adams
12 Mar, 2026
New York City

Crude oil prices soared amid worries of a prolonged oil supply disruption through the Strait of Hormuz, which is likely to remain suspended for a while.

The S&P 500 Index decreased 0.3%, and the tech-heavy Nasdaq Composite dropped 0.4% as investors reviewed the fast-changing situation in the Middle East.

The futures for immediate-month delivery of a barrel of West Texas Intermediate crude oil jumped 4.5% to $91.59, and Brent crude advanced 6% to $95.78. 

Brent crude prices surged as much as $100 a barrel before settling down near the $96 level despite the International Energy Agency announcing a historic release of emergency crude oil reserves. 

The Trump administration said it will lead the coordinated release with 172 million barrels, but they will be available in the market after three months.

Stock and crude oil markets overlooked the IEA announcement as Iraq said it would close its ports after two of its ships were struck. 

Tensions remained high, and the U.S. and Israel war showed no sign of receding, despite claims by the U.S. president.

U.S. Movers

Dick's Sporting Goods jumped 4.3% to $203.93 after the specialty retailer reported better-than-expected financial results for the fiscal fourth quarter ending on January 31. 

Revenue in the quarter rose 59.9% to $6.2 billion from $3.9 billion, net income fell to $127 million from $300 million, and diluted earnings per share decreased to $3.45 from $3.62 a year ago. 

The retailer estimated full-year fiscal 2026 consolidated earnings per diluted share to be in the range of $13.70 to $14.70 and adjusted consolidated earnings per diluted share to be in the range of $13.50 to $14.50.

The increase in comparable sales in the quarter slowed to 3.1% from 6.6% in the period a year ago, prior to the purchase of Foot Locker. 

Bumble Inc. soared 22.9% to $3.46 after the dating app operator reported strong adjusted earnings and revenue in the fiscal fourth quarter. 

Altassin Corp. increased 1.1% to $76.24 after the company announced it would eliminate 10%, or about 1,550, of its staff following a companywide restructuring. 

The company's stock has dropped about 85% from its peak in October 2021 amid worries that generative AI tools could disrupt its business model.