Market Update
Japan's Mixed Economic Updates Highlighted Uneven Recovery
Akira Ito
26 Dec, 2025
Tokyo
Japan's market indexes attempted to rebound on Friday after lackluster trading in three previous sessions.
The Nikkei 225 Stock Average advanced 0.7%, and the broader Topix inched slightly higher amid receding worries about an artificial intelligence bubble.
Stock market indexes extended weekly gains as investors reviewed the latest updates on industrial production, retail sales, jobless rate, and Tokyo-area inflation.
Industrial Output Weakened In November
Japan's industrial output decreased 2.1% from a year ago in November, the Ministry of Economy, Trade and Investment said in its monthly report on Friday.
Industrial production fell 2.6% from the previous month, weakened by a decline in production of personal computers and lithium-ion batteries.
The government agency retained its cautious outlook, confirming that production "fluctuates indecisively."
Jobless Rate Held Steady Amid Labor Shortage
Japan's jobless rate held steady at 2.6% in November, amid stable hiring conditions, according to the latest update from the Ministry of Internal Affairs.
The number of people without jobs fell 2.2% to 1.81 million, and those with jobs increased 0.1% to 68.51 million after adjusting for seasonal factors.
The job seekers increased 4.0% to 520,000, and the agency said that many people may have acquired a job amid a labor shortage in manufacturing and related industries.
New job offers declined 17.2% in retail and wholesale and fell 14.2% in accommodation and restaurant services as businesses adopt labor-saving technologies.
The job availability ratio was unchanged from October at 1.18 in November, meaning 118 jobs were available for every 100 job seekers.
Rising Wages Extend Retail Sales Gains
Japan's retail sales increased for the third consecutive month, according to a separate report released by the Ministry of Economy, Trade and Industry.
Retail sales growth slowed to an annual rate of 1% in November from a 1.7% increase in the previous month.
Steady wage gains supported a rise in consumer spending ahead of the fast-approaching holiday period, and a rebound in inbound tourism contributed to the advance.
Sales increased for automobiles by 3.9%, pharmaceuticals by 5.6%, and machinery and equipment by 7.1%; however, sales for apparel and personal goods decreased by 7.5%, fuel by 5.6%, and non-store retailers by 5.5%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.7% to 50,770.10, and the broader Topix edged up a fraction to 3,419.52.
Stocks advanced, and the Japanese yen traded at 156.02 amid speculation that the Bank of Japan is likely to increase interest rates at a slower-than-expected pace in 2026.
Tokyo Electron increased 1% to ¥34,130.0, Advantest Corp. gained 2.2% to ¥20,230.0, Softbank Group jumped 2.2% to ¥17,895.0, and Fujitsu edged up 0.4% to ¥4,243.0.
Fujitsu advanced on a report that the company has agreed to join a group led by Softbank to develop a next-generation memory for artificial intelligence and supercomputers.
Japan's Mixed Economic Updates Highlighted Uneven Recover
Akira Ito
26 Dec, 2025
Tokyo
Japan's market indexes attempted to rebound on Friday after lackluster trading in three previous sessions.
The Nikkei 225 Stock Average advanced 0.7%, and the broader Topix inched slightly higher amid receding worries about an artificial intelligence bubble.
Stock market indexes extended weekly gains as investors reviewed the latest updates on industrial production, retail sales, jobless rate, and Tokyo-area inflation.
Industrial Output Weakened In November
Japan's industrial output decreased 2.1% from a year ago in November, the Ministry of Economy, Trade and Investment said in its monthly report on Friday.
Industrial production fell 2.6% from the previous month, weakened by a decline in production of personal computers and lithium-ion batteries.
The government agency retained its cautious outlook, confirming that production "fluctuates indecisively."
Jobless Rate Held Steady Amid Labor Shortage
Japan's jobless rate held steady at 2.6% in November, amid stable hiring conditions, according to the latest update from the Ministry of Internal Affairs.
The number of people without jobs fell 2.2% to 1.81 million, and those with jobs increased 0.1% to 68.51 million after adjusting for seasonal factors.
The job seekers increased 4.0% to 520,000, and the agency said that many people may have acquired a job amid a labor shortage in manufacturing and related industries.
New job offers declined 17.2% in retail and wholesale and fell 14.2% in accommodation and restaurant services as businesses adopt labor-saving technologies.
The job availability ratio was unchanged from October at 1.18 in November, meaning 118 jobs were available for every 100 job seekers.
Rising Wages Extend Retail Sales gains
Japan's retail sales increased for the third consecutive month, according to a separate report released by the Ministry of Economy, Trade and Industry.
Retail sales growth slowed to an annual rate of 1% in November from a 1.7% increase in the previous month.
Steady wage gains supported a rise in consumer spending ahead of the fast-approaching holiday period, and a rebound in inbound tourism contributed to the advance.
Sales increased for automobiles by 3.9%, pharmaceuticals by 5.6%, and machinery and equipment by 7.1%; however, sales for apparel and personal goods decreased by 7.5%, fuel by 5.6%, and non-store retailers by 5.5%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.7% to 50,770.10, and the broader Topix edged up a fraction to 3,419.52.
Stocks advanced, and the Japanese yen traded at 156.02 amid speculation that the Bank of Japan is likely to increase interest rates at a slower-than-expected pace in 2026.
Tokyo Electron increased 1% to ¥34,130.0, Advantest Corp. gained 2.2% to ¥20,230.0, Softbank Group jumped 2.2% to ¥17,895.0, and Fujitsu edged up 0.4% to ¥4,243.0.
Fujitsu advanced on a report that the company has agreed to join a group led by Softbank to develop a next-generation memory for artificial intelligence and supercomputers.
Wall Street Indexes Hovered Near Record Highs as Investors Overlooked Economic Updates
Barry Adams
24 Dec, 2025
New York City
Stocks on Wall Street lacked momentum as investors avoided taking additional exposure ahead of the Christmas holiday.
The S&P 500 index edged up 0.1%, and the tech-focused Nasdaq Composite flatlined, and benchmark indexes hovered near record highs.
Gold continued to scale new highs amid elevated and unresolved geopolitical tensions and persistent worries about the U.S. federal government debt.
The S&P 500 index closed at a new record high in the previous session following a rebound in artificial intelligence-linked stocks.
Investors remained cautious despite the U.S. economic growth accelerating in the third quarter, and economists signaled that GDP data are likely to be sharply revised in the months ahead.
Moreover, economic growth in the fourth quarter is likely to take a hit because of the 43-day federal government shutdown.
The New York Stock Exchange will close on Wednesday at 1:00 p.m. ET and will be closed on Thursday for Christmas Day.
However, federal government agencies are closed between December 24 and December 26 and reopen on Monday.
U.S. GDP Growth Accelerated In Third Quarter
Market sentiment recovered after the preliminary estimate of the U.S. economic growth in the third quarter surpassed expectations.
GDP in the third quarter expanded at an annual pace of 4.3%, accelerating from 3.8% in the second quarter, according to a Commerce Department report released Tuesday.
The increase in economic activities was mainly driven by a 3.5% rise in consumer spending from 2.5% and exports expanding 8.8% from -1.8% in the second quarter, respectively.
Government spending recovered to an increase of 2.2% from a decline of 0.1% in the previous quarter, driven by the persistent rise in defense spending as well as buyouts for federal workers.
However, fourth-quarter GDP growth is likely to be sharply lower because of a 43-day federal government shutdown.
Tuesday's report is likely to give the Federal Reserve fewer reasons to raise rates after the next policy in late January.
U.S. Durable Goods Orders Edged Lower in October
Meanwhile, U.S. durable goods orders decreased 2.2% from the previous month, from 2.2% in October to $307.4 billion, the U.S. Census Bureau reported on Tuesday.
Excluding transportation, new orders increased 0.2%, and excluding defense orders, they decreased 1.5% from the previous month, respectively.
Orders excluding defense and volatile transportation, a closely watched proxy for business spending, increased 0.5% to $76.8 billion.
In the first ten months to October, durable goods orders jumped 7.1% from a year ago to $2.9 trillion.
Corporate Profits Growth Rebounded In Third Quarter
Corporate profits increased by 4.2% in the third quarter, according to the preliminary estimate provided by the Bureau of Economic Analysis.
Corporate profits represent the portion of the total income earned from current production that is accounted for by U.S. corporations.
Seasonally adjusted corporate profits with inventory valuation adjustments increased to an annual pace of $4.19 trillion from $4.12 trillion in the third quarter a year ago.
Profits at the domestic financial industry rose to $824.9 billion from $680.9 billion, and at the non-financial industry, they increased to $2.75 trillion from $2.66 trillion a year ago.
Wall Street Indexes Hovered Near Record Highs as Investors Overlooked Economic Updates
Barry Adams
24 Dec, 2025
New York City
Stocks on Wall Street lacked momentum as investors avoided taking additional exposure ahead of the Christmas holiday.
The S&P 500 index edged up 0.1%, and the tech-focused Nasdaq Composite flatlined, and benchmark indexes hovered near record highs.
Gold continued to scale new highs amid elevated and unresolved geopolitical tensions and persistent worries about the U.S. federal government debt.
The S&P 500 index closed at a new record high in the previous session following a rebound in artificial intelligence-linked stocks.
Investors remained cautious despite the U.S. economic growth accelerating in the third quarter, and economists signaled that GDP data are likely to be sharply revised in the months ahead.
Moreover, economic growth in the fourth quarter is likely to take a hit because of the 43-day federal government shutdown.
The New York Stock Exchange will close on Wednesday at 1:00 p.m. ET and will be closed on Thursday for Christmas Day.
However, federal government agencies are closed between December 24 and December 26 and reopen on Monday.
U.S. GDP Growth Accelerated In Third Quarter
Market sentiment recovered after the preliminary estimate of the U.S. economic growth in the third quarter surpassed expectations.
GDP in the third quarter expanded at an annual pace of 4.3%, accelerating from 3.8% in the second quarter, according to a Commerce Department report released Tuesday.
The increase in economic activities was mainly driven by a 3.5% rise in consumer spending from 2.5% and exports expanding 8.8% from -1.8% in the second quarter, respectively.
Government spending recovered to an increase of 2.2% from a decline of 0.1% in the previous quarter, driven by the persistent rise in defense spending as well as buyouts for federal workers.
However, fourth-quarter GDP growth is likely to be sharply lower because of a 43-day federal government shutdown.
Tuesday's report is likely to give the Federal Reserve fewer reasons to raise rates after the next policy in late January.
U.S. Durable Goods Orders Edged Lower in October
Meanwhile, U.S. durable goods orders decreased 2.2% from the previous month, from 2.2% in October to $307.4 billion, the U.S. Census Bureau reported on Tuesday.
Excluding transportation, new orders increased 0.2%, and excluding defense orders, they decreased 1.5% from the previous month, respectively.
Orders excluding defense and volatile transportation, a closely watched proxy for business spending, increased 0.5% to $76.8 billion.
In the first ten months to October, durable goods orders jumped 7.1% from a year ago to $2.9 trillion.
Corporate Profits Growth Rebounded In Third Quarter
Corporate profits increased by 4.2% in the third quarter, according to the preliminary estimate provided by the Bureau of Economic Analysis.
Corporate profits represent the portion of the total income earned from current production that is accounted for by U.S. corporations.
Seasonally adjusted corporate profits with inventory valuation adjustments increased to an annual pace of $4.19 trillion from $4.12 trillion in the third quarter a year ago.
Profits at the domestic financial industry rose to $824.9 billion from $680.9 billion, and at the non-financial industry, they increased to $2.75 trillion from $2.66 trillion a year ago.
Japan's Bond Yields Neared 27-Year High as Fiscal Policy Worries Mounted
Akira Ito
24 Dec, 2025
Tokyo
Japan's market indexes struggled to rebound from the previous session's close, as the domestic government inched closer to finalizing its upcoming fiscal year's budget.
The Nikkei 225 Stock Average and the broader Topix traded around the flatline amid improving confidence as the year-end approached.
Market sentiment recovered following a rise in overnight trading in New York after the preliminary estimate of the U.S. economic growth in the third quarter surpassed expectations.
GDP in the third quarter expanded at an annual pace of 4.3%, accelerating from 3.8% in the second quarter, according to a Commerce Department report released Tuesday.
The increase in economic activities was mainly driven by a 3.5% rise in consumer spending from 2.5% and exports expanding 8.8% from -1.8% in the second quarter, respectively.
Government spending recovered to an increase of 2.2% from a decline of 0.1% in the previous quarter, driven by the persistent rise in defense spending as well as buyouts for federal workers.
However, fourth-quarter GDP growth is likely to be sharply lower because of a 43-day federal government shutdown.
Tuesday's report is likely to give the Federal Reserve fewer reasons to raise rates after the next policy in late January.
The yield on 10-year Japanese government bonds hovered above 2%, and the Japanese yen weakened to 155.86 against the U.S. dollar.
Closer to home, Japan's lawmakers inched closer to approving a record 122 billion yen budget for the upcoming fiscal year 2026, as the newly appointed Prime Minister Sanae Takaichi's administration plans to provide additional stimulus of 21.3 trillion yen to ease household costs.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged up 0.03% to 50,429.56, and the broader Topix eased 0.4% to 3,410.57.
Japan Post Bank rose 0.1% to ¥2,127.50, Daiichi Sankyo edged up 0.2% to ¥3,338.0, and Nomura Holdings decreased 0.3% to ¥1,293.50.
Seven & I Holdings gained 0.1% to ¥2,235.50, Fast Retailing decreased 0.6% to ¥56,630.0, and Takashimaya Co. Ltd fell 0.1% to ¥1,632.0.
Japan's Bond Yields Neared 27-Year High as Fiscal Policy Worries Mounted
Akira Ito
24 Dec, 2025
Tokyo
Japan's market indexes struggled to rebound from the previous session's close, as the domestic government inched closer to finalizing its upcoming fiscal year's budget.
The Nikkei 225 Stock Average and the broader Topix traded around the flatline amid improving confidence as the year-end approached.
Market sentiment recovered following a rise in overnight trading in New York after the preliminary estimate of the U.S. economic growth in the third quarter surpassed expectations.
GDP in the third quarter expanded at an annual pace of 4.3%, accelerating from 3.8% in the second quarter, according to a Commerce Department report released Tuesday.
The increase in economic activities was mainly driven by a 3.5% rise in consumer spending from 2.5% and exports expanding 8.8% from -1.8% in the second quarter, respectively.
Government spending recovered to an increase of 2.2% from a decline of 0.1% in the previous quarter, driven by the persistent rise in defense spending as well as buyouts for federal workers.
However, fourth-quarter GDP growth is likely to be sharply lower because of a 43-day federal government shutdown.
Tuesday's report is likely to give the Federal Reserve fewer reasons to raise rates after the next policy in late January.
The yield on 10-year Japanese government bonds hovered above 2%, and the Japanese yen weakened to 155.86 against the U.S. dollar.
Closer to home, Japan's lawmakers inched closer to approving a record 122 billion yen budget for the upcoming fiscal year 2026, as the newly appointed Prime Minister Sanae Takaichi's administration plans to provide additional stimulus of 21.3 trillion yen to ease household costs.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged up 0.03% to 50,429.56, and the broader Topix eased 0.4% to 3,410.57.
Japan Post Bank rose 0.1% to ¥2,127.50, Daiichi Sankyo edged up 0.2% to ¥3,338.0, and Nomura Holdings decreased 0.3% to ¥1,293.50.
Seven & I Holdings gained 0.1% to ¥2,235.50, Fast Retailing decreased 0.6% to ¥56,630.0, and Takashimaya Co. Ltd fell 0.1% to ¥1,632.0.
Japan WEDNESDAY
Akira Ito
24 Dec, 2025
Tokyo
Japan's market indexes struggled to rebound from the previous session's close, as the domestic government inched closer to finalizing its upcoming fiscal year's budget.
The Nikkei 225 Stock Average and the broader Topix traded around the flatline amid improving confidence as the year-end approached.
Market sentiment recovered following a rise in overnight trading in New York after the preliminary estimate of the U.S. economic growth in the third quarter surpassed expectations.
GDP in the third quarter expanded at an annual pace of 4.3%, accelerating from 3.8% in the second quarter, according to a Commerce Department report released Tuesday.
The increase in economic activities was mainly driven by a 3.5% rise in consumer spending from 2.5% and exports expanding 8.8% from -1.8% in the second quarter, respectively.
Government spending recovered to an increase of 2.2% from a decline of 0.1% in the previous quarter, driven by the persistent rise in defense spending as well as buyouts for federal workers.
However, fourth-quarter GDP growth is likely to be sharply lower because of a 43-day federal government shutdown.
Tuesday's report is likely to give the Federal Reserve fewer reasons to raise rates after the next policy in late January.
The yield on 10-year Japanese government bonds hovered above 2%, and the Japanese yen weakened to 155.86 against the U.S. dollar.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged up 0.03% to 50,429.56, and the broader Topix eased 0.4% to 3,410.57.
Japan Post Bank rose 0.1% to ¥2,127.50, Daiichi Sankyo edged up 0.2% to ¥3,338.0, and Nomura Holdings decreased 0.3% to ¥1,293.50.
Seven & I Holdings gained 0.1% to ¥2,235.50, Fast Retailing decreased 0.6% to ¥56,630.0, and Takashimaya Co. Ltd fell 0.1% to ¥1,632.0.
China Stocks Advanced Ahead of Christmas Break, Gold Scaled New Record High
Li Chen
24 Dec, 2025
Hong Kong
Stocks in China and Hong Kong advanced for the third consecutive session, and investors debated the earnings growth outlook in the year ahead.
The Hang Seng Index and the mainland-focused CSI 300 Index hovered near the flatline in thin trading as investors remained optimistic about the earnings growth outlook.
The Hong Kong Stock Exchange closed after the first session today and will remain closed on Thursday and Friday in celebration of the Christmas holiday.
Gold surpassed $4,500 an ounce in intraday trading as investors continued to accumulate yellow metal amid worries about rising U.S. federal government debt and major central banks replacing holdings of U.S. Treasury notes with the precious metal.
Stock market indexes in Tokyo, Seoul, and Mumbai edged higher, reflecting gains in overnight trading in New York.
China Indexes and Stocks
The Hang Seng Index increased 0.1% to 25,790.55, and the CSI 300 index inched higher 0.1% to 4,615.39.
Artificial intelligence-linked stocks dominated trading in Hong Kong and Shanghai, and investors held out for higher earnings amid rising demands.
Baidu Inc. decreased 0.2% to HK $119.60, SMIC gained 3.3% to HK $71.15, Alibaba Group Holding declined 0.8% to HK $145.90, and Tencent Holdings Ltd. was unchanged at HK $602.0.
Techtronic Industries edged up 0.1% to HK $91.80, Li Ning Co. Ltd eased 1.1% to HK $19.04, and Anta Sports Products Ltd. decreased 0.7% to HK $81.65.
The IPO parade continued for the third session in a row, and one stock was listed on the Shanghai Stock Exchange today.
Ningbo Jansen Superconducting Technologies soared 255% to 66.21 yuan in Shanghai trading.
China Stocks Advanced Ahead of Christmas Break, Gold Scaled New Record High
Li Chen
24 Dec, 2025
Hong Kong
Stocks in China and Hong Kong advanced for the third consecutive session, and investors debated the earnings growth outlook in the year ahead.
The Hang Seng Index and the mainland-focused CSI 300 Index hovered near the flatline in thin trading as investors remained optimistic about the earnings growth outlook.
The Hong Kong Stock Exchange closed after the first session today and will remain closed on Thursday and Friday in celebration of the Christmas holiday.
Gold surpassed $4,500 an ounce in intraday trading as investors continued to accumulate yellow metal amid worries about rising U.S. federal government debt and major central banks replacing holdings of U.S. Treasury notes with the precious metal.
Stock market indexes in Tokyo, Seoul, and Mumbai edged higher, reflecting gains in overnight trading in New York.
China Indexes and Stocks
The Hang Seng Index increased 0.1% to 25,790.55, and the CSI 300 index inched higher 0.1% to 4,615.39.
Artificial intelligence-linked stocks dominated trading in Hong Kong and Shanghai, and investors held out for higher earnings amid rising demands.
Baidu Inc. decreased 0.2% to HK $119.60, SMIC gained 3.3% to HK $71.15, Alibaba Group Holding declined 0.8% to HK $145.90, and Tencent Holdings Ltd. was unchanged at HK $602.0.
Techtronic Industries edged up 0.1% to HK $91.80, Li Ning Co. Ltd eased 1.1% to HK $19.04, and Anta Sports Products Ltd. decreased 0.7% to HK $81.65.
The IPO parade continued for the third session in a row, and one stock was listed on the Shanghai Stock Exchange today.
Ningbo Jansen Superconducting Technologies soared 255% to 66.21 yuan in Shanghai trading.
Japan's Bond Yields Hovered Near 3-Decade Highs and Yen Traded at 1-Year Low
Akira Ito
23 Dec, 2025
Tokyo
Japan's stock market indexes advanced for the third consecutive session in the early morning but hovered near the flatline, and bond yields pulled back.
The Nikkei 225 Stock Average and the broader Topix struggled to hold onto morning gains in the final hours of the trading session.
The yield on 10-year Japanese government bonds edged lower for the second consecutive session after reaching a high of 2.1%.
Investors prepared for higher yields after the Bank of Japan lifted its benchmark rate by 25 basis points to 0.75%, a three-decade high.
The bond yields pushed higher as the Prime Minister Sanae Takaichi's administration prepares to increase government spending in the next fiscal year starting in April.
Japan's government spending in the upcoming fiscal year is likely to exceed last year's budget of 122 trillion yen, or $780 billion, and bond offerings are likely to surpass 28.6 trillion yen, or $184 billion.
The yen hovered near 156.04 against the U.S. dollar despite the Bank of Japan revising its benchmark rates higher last Friday.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.1% to 50,304.99, and the broader Topix inched higher 0.2% to 3,414.16.
Softbank Group decreased 0.7% to ¥17,685. 0, Tokyo Electron fell 0.5% to ¥33,000. 0. Advantest Corp. declined 1.9% to ¥19,680.0.
Japan's Bond Yields Hovered Near 3-Decade Highs and Yen Traded at 1-Year Low
Akira Ito
23 Dec, 2025
Tokyo
Japan's stock market indexes advanced for the third consecutive session in the early morning but hovered near the flatline, and bond yields pulled back.
The Nikkei 225 Stock Average and the broader Topix struggled to hold onto morning gains in the final hours of the trading session.
The yield on 10-year Japanese government bonds edged lower for the second consecutive session after reaching a high of 2.1%.
Investors prepared for higher yields after the Bank of Japan lifted its benchmark rate by 25 basis points to 0.75%, a three-decade high.
The bond yields pushed higher as the Prime Minister Sanae Takaichi's administration prepares to increase government spending in the next fiscal year starting in April.
Japan's government spending in the upcoming fiscal year is likely to exceed last year's budget of 122 trillion yen, or $780 billion, and bond offerings are likely to surpass 28.6 trillion yen, or $184 billion.
The yen hovered near 156.04 against the U.S. dollar despite the Bank of Japan revising its benchmark rates higher last Friday.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.1% to 50,304.99, and the broader Topix inched higher 0.2% to 3,414.16.
Softbank Group decreased 0.7% to ¥17,685. 0, Tokyo Electron fell 0.5% to ¥33,000. 0. Advantest Corp. declined 1.9% to ¥19,680.0.
China Indexes Extended 2025 Gains, Six IPOs Advanced In Trading
Li Chen
23 Dec, 2025
Hong Kong
Investors bid up stocks in hopes that market indexes will continue to advance in the new year.
The Hang Seng Index advanced 0.3%, and the mainland-focused CSI 300 Index edged up 0.3% in thin trading volume dominated by technology stocks and new issues.
Optimism ruled for the second consecutive week amid improving market sentiment and hopes of higher earnings growth in the next year.
Despite the market optimism, the broader economy is facing slowing export momentum, persistent residential market weakness, and elevated jobless rates.
Moreover, retail sales, when adjusted for inflation, are struggling to advance as consumers retrench to basics amid rising economic uncertainties.
China's GDP growth in 2026 is likely to slow to closer to 4%, as more businesses shift production to overseas locations and government spending growth stabilizes.
China Indexes and Stocks
The Hang Seng Index added 0.3% to 25,878.73, and the mainland-focused CSI 300 index edged up 0.3% to 4,635.13.
Three mainland-China-based companies began trading on the Hong Kong Stock Exchange, following four new issues on Monday.
QingSong Health jumped 136% to HK $54.90, and the company priced its initial public offering at HK $22.68 per share.
The digital healthcare and insurance services-related platform operator raised HK$601.9 million in gross proceeds through the sale of 26.5 million shares.
Nuobikan Artificial Intelligence Technology Chengdu soared more than 340% to HK $351, and the technology company priced its initial public offering at HK $80.0 per share.
The railway and power grid industry-focused company raised HK $302.9 million through the sale of 3.8 million shares.
HanX Biopharmaceuticals dropped more than 40% to HK $18.26, and the company priced its initial public offering at HK $32.0 per share.
The oncology therapeutics-focused company raised HK $586.3 million through the sale of 18.3 million shares.
On the mainland, Jiangsu Xihua New Energy Technology soared 150% to 24.91 yuan in Shanghai, RNBC New Energy jumped 210% to 71.20 yuan and Shenzhen Tiansu Calibration & Testing gained 115% to 79.37 yuan in Shenzhen.
China Vanke declined 2% to HK $3.47 after creditors agreed to extend its bond interest payment until the end of January but rejected the proposal to extend principal payment.
China Indexes Extended 2025 Gains, Six IPOs Scaled Advanced In Trading
Li Chen
23 Dec, 2025
Hong Kong
Investors bid up stocks in hopes that market indexes will continue to advance in the new year.
The Hang Seng Index advanced 0.3%, and the mainland-focused CSI 300 Index edged up 0.3% in thin trading volume dominated by technology stocks and new issues.
Optimism ruled for the second consecutive week amid improving market sentiment and hopes of higher earnings growth in the next year.
Despite the market optimism, the broader economy is facing slowing export momentum, persistent residential market weakness, and elevated jobless rates.
Moreover, retail sales, when adjusted for inflation, are struggling to advance as consumers retrench to basics amid rising economic uncertainties.
China's GDP growth in 2026 is likely to slow to closer to 4%, as more businesses shift production to overseas locations and government spending growth stabilizes.
China Indexes and Stocks
The Hang Seng Index added 0.3% to 25,878.73, and the mainland-focused CSI 300 index edged up 0.3% to 4,635.13.
Three mainland-China-based companies began trading on the Hong Kong Stock Exchange, following four new issues on Monday.
QingSong Health jumped 136% to HK $54.90, and the company priced its initial public offering at HK $22.68 per share.
The digital healthcare and insurance services-related platform operator raised HK$601.9 million in gross proceeds through the sale of 26.5 million shares.
Nuobikan Artificial Intelligence Technology Chengdu soared more than 340% to HK $351, and the technology company priced its initial public offering at HK $80.0 per share.
The railway and power grid industry-focused company raised HK $302.9 million through the sale of 3.8 million shares.
HanX Biopharmaceuticals dropped more than 40% to HK $18.26, and the company priced its initial public offering at HK $32.0 per share.
The oncology therapeutics-focused company raised HK $586.3 million through the sale of 18.3 million shares.
On the mainland, Jiangsu Xihua New Energy Technology soared 150% to 24.91 yuan in Shanghai, RNBC New Energy jumped 210% to 71.20 yuan and Shenzhen Tiansu Calibration & Testing gained 115% to 79.37 yuan in Shenzhen.
China Vanke declined 2% to HK $3.47 after creditors agreed to extend its bond interest payment until the end of January but rejected the proposal to extend principal payment.
AI Stocks and Gold and Silver Power Ahead as Year's End Approaches
Barry Adams
22 Dec, 2025
New York City
U.S. stocks edged higher at the start of the holiday-shortened week as artificial intelligence-linked stocks rebounded last week.
The S&P 500 index edged up 0.1%, the Nasdaq Composite increased 0.2%, and gold and silver inched further into record territory.
Investors are hoping that the so-called Magnificent 7 will retain leadership as the year-end approaches and relatively cheaper sectors of the market remain in favor.
On the economic front, the uneven U.S. hirings in October and November confirmed the ongoing pattern over the last seven months, as businesses of all sizes struggle with macroeconomic uncertainty.
The U.S. economy added 64,000 net new jobs in November, and payrolls shrank by 105,000 in October, the U.S. Bureau of Labor Statistics said on Tuesday.
However, skeptical investors questioned the reliability of the jobs data amid low survey participation, and economists signaled sharp downward revisions in the near future.
The payroll data, when viewed in a broader context, reveals a significantly weaker job market than the monthly data indicates.
The so-called K-shaped economy has also put investors on alert amid a brewing affordability crisis as goods prices continue to rise and wages lag overall inflation.
Global markets are likely to lack direction as investors prepare for the year-end and the U.S. federal government closes for extra Christmas holidays between December 24 and 26.
Despite the stock market indexes hovering near record highs, gold and silver rebounded after two weeks of sideways trading.
The governments of the U.S., UK, France, Germany, Japan, and China have accumulated outsized debts, and the debt levels are expected to continue to rise in 2026.
Moreover, central banks of China and Japan and a select few European Union nations are actively lowering their U.S. Treasury holdings and increasing exposure to gold.
This week investors are awaiting the release of delayed economic reports on durable goods orders, industrial output, and the second estimate of the third-quarter GDP.
The New York Stock Exchange will close early at 1:00 p.m. ET on Christmas Eve, while market operations will be suspended Thursday for Christmas Day and reopen regular trading hours on Monday, December 29.
AI Stocks and Gold and Silver Power Ahead as Year's End Approaches
Barry Adams
22 Dec, 2025
New York City
U.S. stocks edged higher at the start of the holiday-shortened week as artificial intelligence-linked stocks rebounded last week.
The S&P 500 index edged up 0.1%, the Nasdaq Composite increased 0.2%, and gold and silver inched further into record territory.
Investors are hoping that the so-called Magnificent 7 will retain leadership as the year-end approaches and relatively cheaper sectors of the market remain in favor.
On the economic front, the uneven U.S. hirings in October and November confirmed the ongoing pattern over the last seven months, as businesses of all sizes struggle with macroeconomic uncertainty.
The U.S. economy added 64,000 net new jobs in November, and payrolls shrank by 105,000 in October, the U.S. Bureau of Labor Statistics said on Tuesday.
However, skeptical investors questioned the reliability of the jobs data amid low survey participation, and economists signaled sharp downward revisions in the near future.
The payroll data, when viewed in a broader context, reveals a significantly weaker job market than the monthly data indicates.
The so-called K-shaped economy has also put investors on alert amid a brewing affordability crisis as goods prices continue to rise and wages lag overall inflation.
Global markets are likely to lack direction as investors prepare for the year-end and the U.S. federal government closes for extra Christmas holidays between December 24 and 26.
Despite the stock market indexes hovering near record highs, gold and silver rebounded after two weeks of sideways trading.
The governments of the U.S., UK, France, Germany, Japan, and China have accumulated outsized debts, and the debt levels are expected to continue to rise in 2026.
Moreover, central banks of China and Japan and a select few European Union nations are actively lowering their U.S. Treasury holdings and increasing exposure to gold.
This week investors are awaiting the release of delayed economic reports on durable goods orders, industrial output, and the second estimate of the third-quarter GDP.
The New York Stock Exchange will close early at 1:00 p.m. ET on Christmas Eve, while market operations will be suspended Thursday for Christmas Day and reopen regular trading hours on Monday, December 29.