Market Update
Japan's Indexes Hovered Near Record Highs, Imports Declined
Akira Ito
17 Sep, 2025
Tokyo
Japan's benchmark indexes turned lower and flirted near record highs after weak international trade data.
The Nikkei 225 Stock Average declined 0.01%, and the broader Topix decreased 0.6% after imports fell for the fifth month in 2025 and exports declined for the fourth consecutive month in August.
Japan's International Trade Deficit Shrank In August
Japan's imports declined 5.2% from a year ago to 8.7 trillion yen, highlighting sluggish domestic demand despite the government's efforts to support consumption and subsidize energy prices.
Japan's exports eased to 8.4 trillion yen from 9.5 trillion yen in July and were slightly below 8.43 trillion yen from a year ago, Japan's ministry of finance reported Wednesday.
The sharp escalation in U.S. tariffs continued to whiplash Japan's exports, and the U.S. lowered its tariffs to 15% on all Japanese goods from the proposed 25% and 27.5% on automobiles and auto parts.
Overall the trade deficit in August shrank sharply to 242.5 billion yen from 711.4 billion yen a year ago.
The export-driven economy of Japan is likely to face softer economic growth as businesses struggle to find new markets outside of North America.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.01% to 44,866.90, and the broader Topix fell 0.6% to 3,149.67.
Sanrio Co. Ltd. increased 0.6% to ¥6,947.0, SoftBank dropped 2% to ¥17,925.0, and Nintendo declined 1.7% to ¥13,535.0.
Tokyo Electron advanced 5% to ¥24,190.0, Advantest Corp. decreased 2.2% to ¥13,810.0, and Disco Corp. increased 1.2% to ¥45,010.0.
China Indexes Reached New 4-Year Highs Amid Flurry of Successful Public Offerings
Li Chen
17 Sep, 2025
Hong Kong
China's stock market indexes advanced, and investors snapped up technology stocks amid earnings optimism.
The Hang Seng index increased 1.4%, and the mainland-focused CSI 300 index edged higher 0.6% amid positive market sentiment following the US-China "trade framework agreement."
Despite the optimistic outlook signaled by trade negotiators, few details were released, and sources in Shanghai and Beijing confirmed that the U.S. and China have significant differences in how to lower trade barriers.
Leaders of the U.S. and China are set to talk on Friday, which could lead to finalization of the transfer of TikTok's U.S. assets and a possible announcement of China's purchase of soybeans and jet aircraft.
China Indexes and Stocks
The Hang Seng Index added 1.4% to 26,805.49, and the mainland-focused CSI 300 index increased 0.6% to 4,550.58.
Tencent Holdings increased 2% to HK$658.0, and the WeChat messaging app operator announced the completion of a 9 billion yuan, or $1.3 billion, offshore bond offering.
Alibaba Group Holding advanced 5% to HK$161.20, Meituan increased 4.4% to HK$105.50, and JD.com jumped 5.7% to HK$137.40.
Baidu Inc. jumped 15% to HK$130.50 after the search engine operator completed a 4.4 billion senior notes offering.
160 Health International soared 148% to HK$137.40, and the mainland-based company priced its initial public offering at HK$11.89 per share.
The digital healthcare matching platform operator sold 33.65 million shares and raised net proceeds of HK$316.1 million.
The company claimed to have 55.2 million registered individual users and 902,300 medical professionals on its platform.
China Indexes Reached New 4-Year Highs Amid Flurry of Successful Public Offerings
Li Chen
17 Sep, 2025
Hong Kong
China's stock market indexes advanced, and investors snapped up technology stocks amid earnings optimism.
The Hang Seng index increased 1.4%, and the mainland-focused CSI 300 index edged higher 0.6% amid positive market sentiment following the US-China "trade framework agreement."
Despite the optimistic outlook signaled by trade negotiators, few details were released, and sources in Shanghai and Beijing confirmed that the U.S. and China have significant differences in how to lower trade barriers.
Leaders of the U.S. and China are set to talk on Friday, which could lead to finalization of the transfer of TikTok's U.S. assets and a possible announcement of China's purchase of soybeans and jet aircraft.
China Indexes and Stocks
The Hang Seng Index added 1.4% to 26,805.49, and the mainland-focused CSI 300 index increased 0.6% to 4,550.58.
Tencent Holdings increased 2% to HK$658.0, and the WeChat messaging app operator announced a completion of a 9 billion yuan, or $1.3 billion, offshore bond offering.
Alibaba Group Holding advanced 5% to HK$161.20, Meituan increased 4.4% to HK$105.50, and JD.com jumped 5.7% to HK$137.40.
Baidu Inc. jumped 15% to HK$130.50 after the search engine operator completed a 4.4 billion senior notes offering.
160 Health International soared 148% to HK$137.40, and the mainland-based company priced its initial public offering at HK$11.89 per share.
The digital healthcare matching platform operator sold 33.65 million shares and raised net proceeds of HK$316.1 million.
The company claimed to have 55.2 million registered individual users and 902,300 medical professionals on its platform.
U.S. Movers: Dave & Buster's Entertainment, Hain Celestial Group
Scott Peters
16 Sep, 2025
New York City
Dave & Buster’s Entertainment Inc. dropped 17.3% to $20 after the entertainment and dining company reported a 72% drop in profit in the fiscal second quarter ending on August 5.
Consolidated revenue inched up to $557.4 million from $557.1 million, net income plunged to $11.4 million from $40.3 million, and diluted earnings per share fell to 32 cents from 99 cents a year ago.
Comparable store sales decreased 3.0%.
During the second quarter, the company opened three new Dave & Buster's stores.
The company’s same-store sales quarter-to-date trends in the fiscal third quarter are consistent with where they were exiting the second quarter.
The company plans to open at least five additional international franchise stores in the next six months.
CEO Tarun Lal emphasized a renewed focus on guest experience, innovation, and long-term sales and cash flow growth.
Hain Celestial Group, Inc., fell 1.9% to $1.59 after the health and wellness consumer goods company reported more than a ninety-fold jump in net loss in the fourth quarter ended on June 30.
The company is in the middle of streamlining its portfolio of organic personal care products and natural foods, and the latest quarterly results were hit by a one-time charge related to "goodwill and certain intangible assets, as well as assets held for sale."
Consolidated revenue inched lower to $363.3 million from $418.8 million, net loss expanded to $272.6 million from $2.9 million, and diluted losses per share advanced to $3.06 from $0.03 a year ago.
Adjusted EBITDA fell to $114 million from $155 million, while free cash flow turned negative to $3 million compared to $83 million in the prior year.
The company recorded pre-tax impairment charges of $496 million, primarily related to goodwill and intangible assets. Net debt decreased to $650 million from $690 million.
"We are taking decisive action to optimize cash, deleverage our balance sheet, stabilize sales, and improve profitability as we recognize our performance has not met expectations,” said Alison Lewis, Interim President and CEO.
Stock Movers: Dave & Buster, Hain Celestial Group
Scott Peters
16 Sep, 2025
New York City
Dave & Buster’s Entertainment Inc. dropped 17.3% to $20 after the entertainment and dining company reported a 72% drop in profit in the fiscal second quarter ending on August 5.
Consolidated revenue inched up to $557.4 million from $557.1 million, net income plunged to $11.4 million from $40.3 million, and diluted earnings per share fell to 32 cents from 99 cents a year ago.
Comparable store sales decreased 3.0%.
During the second quarter, the company opened three new Dave & Buster's stores.
The company’s same-store sales quarter-to-date trends in the fiscal third quarter are consistent with where they were exiting the second quarter.
The company plans to open at least five additional international franchise stores in the next six months.
CEO Tarun Lal emphasized a renewed focus on guest experience, innovation, and long-term sales and cash flow growth.
Hain Celestial Group, Inc., fell 1.9% to $1.59 after the health and wellness consumer goods company reported more than a ninety-fold jump in net loss in the fourth quarter ended on June 30.
The company is in the middle of streamlining its portfolio of organic personal care products and natural foods, and the latest quarterly results were hit by a one-time charge.
Consolidated revenue inched lower to $363.3 million from $418.8 million, net loss expanded to $272.6 million from $2.9 million, and diluted losses per share advanced to $3.06 from $0.03 a year ago.
Adjusted EBITDA fell to $114 million from $155 million, while free cash flow turned negative to $3 million compared to $83 million in the prior year.
The company recorded pre-tax impairment charges of $496 million, primarily related to goodwill and intangible assets. Net debt decreased to $650 million from $690 million.
"We are taking decisive action to optimize cash, deleverage our balance sheet, stabilize sales, and improve profitability as we recognize our performance has not met expectations,” said Alison Lewis, Interim President and CEO.
Receding Trade War Fears Drive Wall Street Indexes to New Record Highs
Barry Adams
16 Sep, 2025
New York City
U.S. stocks advanced on Tuesday and attempted to extend gains of the previous two weeks.
The S&P 500 index edged up 0.1%, and the tech-focused Nasdaq Composite advanced 0.2% amid receding fears of a trade war between the U.S. and China.
Trade negotiators signaled that the world's two largest economies have reached a preliminary "framework agreement" that could lower trade and investment barriers.
However, trade economists were skeptical because of the lack of specific details and ambiguous announcements from the U.S. and Chinese trade officials.
A source in Beijing confirmed that the two sides are far apart on the tariff levels, rare-earth mineral export rules, and agriculture product trade.
Moreover, the so-called TikTok "agreement" lacks firm and binding conditions and a deadline to complete the financial transaction.
On the economic front, seasonally adjusted, but not for price changes, retail and food services sales advanced 5% from a year ago for August, the U.S. Census Bureau reported Tuesday.
Seasonally adjusted retail and food services sales increased 0.6% from the previous month, to $732.0 billion.
Nonstore retailers were up 10.1% from last year, while food service and drinking places were up 6.5% from August 2024.
Meanwhile, sales excluding food services, auto dealers, building materials stores, and gasoline stations, which are used to calculate gross domestic product, increased 0.7%, following a 0.5% rise in the previous month.
In overseas trading, benchmark indexes in Japan advanced to new record highs ahead of the Bank of Japan's rate decisions on Friday.
India's Sensex index extended gains of the previous week after the jobless rate dropped to a record low of 5.1% in August and the trade deficit shrank sharply following the steady increase in exports and a decline in crude oil prices.
The euro hit a new four-year high of $1.18 after the investor sentiment in the Eurozone and Germany surpassed market expectations.
U.S. Stock Movers
Tech stocks led gainers on Tuesday and extended gains of the previous six trading sessions.
Alphabet Inc. gained 0.9% to $253.99, Tesla Inc. advanced 1.3% to $415.50, and Amazon Inc. inched up 0.4% to $232.90.
Oracle Corp. jumped 5% to $319.80 following a CBS News report that the software company is a part of a consortium that could acquire control of the China-based TikTok.
Receding Trade War Fears Drive Wall Street Indexes to New Record Highs
Barry Adams
16 Sep, 2025
New York City
U.S. stocks advanced on Tuesday and attempted to extend gains of the previous two weeks.
The S&P 500 index edged up 0.1%, and the tech-focused Nasdaq Composite advanced 0.2% amid receding fears of a trade war between the U.S. and China.
Trade negotiators signaled that the world's two largest economies have reached a preliminary "framework agreement" that could lower trade and investment barriers.
However, trade economists were skeptical because of the lack of specific details and ambiguous announcements from the U.S. and Chinese trade officials.
A source in Beijing confirmed that the two sides are far apart on the tariff levels, rare-earth mineral export rules, and agriculture product trade.
Moreover, the so-called TikTok "agreement" lacks firm and binding conditions and a deadline to complete the financial transaction.
In overseas trading, benchmark indexes in Japan advanced to new record highs ahead of the Bank of Japan's rate decisions on Friday.
India's Sensex index extended gains of the previous week after the jobless rate dropped to a record low of 5.1% in August and the trade deficit shrank sharply following the steady increase in exports and a decline in crude oil prices.
The euro hit a new four-year high of $1.18 after the investor sentiment in the Eurozone and Germany surpassed market expectations.
U.S. Stock Movers
Tech stocks led gainers on Tuesday and extended gains of the previous six trading sessions.
Alphabet Inc. gained 0.9% to $253.99, Tesla Inc. advanced 1.3% to $415.50, and Amazon Inc. inched up 0.4% to $232.90.
Oracle Corp. jumped 5% to $319.80 following a CBS News report that the software company is a part of a consortium that could acquire control of the China-based TikTok.
India's Trade Deficit Shrank and Jobless Rate Eased In August, Vehicle Sales Dropped 9%
Arjun Pandit
16 Sep, 2025
Mumbai
India's market indexes advanced on Tuesday following positive economic data.
The Sensex index increased 0.5%, the Nifty index edged up 0.4%, and the Indian rupee strengthened to 88.04 against the U.S. dollar.
Overall trade deficit shrank, jobless rate fell, but passenger vehicle sales fell sharply in August.
India's Trade Deficit Improved In August
India's overall exports and imports advanced, and the trade deficit shrank in August, according to the latest data released by the Ministry of Commerce and Industry.
Overall exports increased 10% to $69.2 billion from $63.2 billion, imports decreased 7% to $79.0 billion from $85 billion, and the trade deficit shrank to $9.9 billion from $26.7 billion a year ago, respectively.
Goods exports rose to $35.1 billion from $32.9 billion, and imports shrank to $61.6 billion from $68.5 billion a year ago, respectively.
Exports of gems & jewelry increased by 15.6% to $2.3 billion from $2.0, petroleum products increased by 6.5% to $4.5 billion from $4.2 billion, and drugs & pharmaceuticals increased by 6.9% to $2.5 billion from $2.3 billion a year ago, respectively.
Services exports surged to $34 billion from $30.3 billion, and imports rose $17.5 billion from $16.5 billion a year ago, respectively.
August's Jobless Rate Dropped to Record Low
India's jobless rate improved for the second consecutive month to August and dropped to a record low, according to the latest update from the National Statistical Office.
Overall, the jobless rate edged lower to 5.1% from 5.2% in July, and the labor participation rate inched higher to 55% from 54.9% in July.
India's Vehicle Sales Dropped 9% In August
Passenger vehicle sales plunged 9% from a year ago in August as consumers retrenched, according to a report released by the Society of Indian Automobile Manufacturers.
Passenger vehicle sales dropped to 280,839 units from 301,000 in the previous month, amid stagnant wages and elevated vehicle prices.
The monthly data excludes sales from Mercedes-Benz, BMW, Jaguar Land Rover, and Volvo.
"The landmark decision of the Government of India to reduce the GST (Goods and Services Tax) rates on vehicles will go a long way in enabling broader access to mobility and injecting fresh momentum into the Indian automotive sector in the upcoming festive season," said Rajesh Menon, Director General of SIAM.
India Indexes and Stocks
The Sensex index increased 0.5% to 82,171.76, and the Nifty index gained 0.4% to 25,179.35.
NCC Ltd. increased 1.6% to ₹215.55 after the company won a 2,090.5 crore order from the Water Resources Department of Bihar.
Adani Enterprises advanced 0.4% to ₹2,392.90 after the company won an order worth 4,081 crore for constructing a 12.9 km ropeway connecting Sonprayag to Kedarnath.
NTPC Green Energy advanced 2.2% to ₹105.79, and the company commissioned a 25 MW solar energy project in Gujarat.
India's Trade Deficit Shrank and Jobless Rate Eased In August, Vehicle Sales Dropped 9%
Arjun Pandit
16 Sep, 2025
Mumbai
India's market indexes advanced on Tuesday following positive economic data.
The Sensex index increased 0.5%, the Nifty index edged up 0.4%, and the Indian rupee strengthened to 88.04 against the U.S. dollar.
Overall trade deficit shrank, jobless rate fell, but passenger vehicle sales fell sharply in August.
India's Trade Deficit Improved In August
India's overall exports and imports advanced, and the trade deficit shrank in August, according to the latest data released by the Ministry of Commerce and Industry.
Overall exports increased 10% to $69.2 billion from $63.2 billion, imports decreased 7% to $79.0 billion from $85 billion, and the trade deficit shrank to $9.9 billion from $26.7 billion a year ago, respectively.
Goods exports rose to $35.1 billion from $32.9 billion, and imports shrank to $61.6 billion from $68.5 billion a year ago, respectively.
Exports of gems & jewelry increased by 15.6% to $2.3 billion from $2.0, petroleum products increased by 6.5% to $4.5 billion from $4.2 billion, and drugs & pharmaceuticals increased by 6.9% to $2.5 billion from $2.3 billion a year ago, respectively.
Services exports surged to $34 billion from $30.3 billion, and imports rose $17.5 billion from $16.5 billion a year ago, respectively.
August's Jobless Rate Dropped to Record Low
India's jobless rate improved for the second consecutive month to August and dropped to a record low, according to the latest update from the National Statistical Office.
Overall, the jobless rate edged lower to 5.1% from 5.2% in July, and the labor participation rate inched higher to 55% from 54.9% in July.
India's Vehicle Sales Dropped 9% In August
Passenger vehicle sales plunged 9% from a year ago in August as consumers retrenched, according to a report released by the Society of Indian Automobile Manufacturers.
Passenger vehicle sales dropped to 280,839 units from 301,000 in the previous month, amid stagnant wages and elevated vehicle prices.
The monthly data excludes sales from Mercedes-Benz, BMW, Jaguar Land Rover, and Volvo.
"The landmark decision of the Government of India to reduce the GST (Goods and Services Tax) rates on vehicles will go a long way in enabling broader access to mobility and injecting fresh momentum into the Indian automotive sector in the upcoming festive season," said Rajesh Menon, Director General of SIAM.
India Indexes and Stocks
The Sensex index increased 0.5% to 82,171.76, and the Nifty index gained 0.4% to 25,179.35.
NCC Ltd. increased 1.6% to ₹215.55 after the company won a 2,090.5 crore order from the Water Resources Department of Bihar.
Adani Enterprises advanced 0.4% to ₹2,392.90 after the company won an order worth 4,081 crore for constructing a 12.9 km ropeway connecting Sonprayag to Kedarnath.
NTPC Green Energy advanced 2.2% to ₹105.79, and the company commissioned a 25 MW solar energy project in Gujarat.
Japan Indexes Closed at New Highs Ahead of Rate Decisions
Akira Ito
16 Sep, 2025
Tokyo
Stock market indexes in Tokyo edged higher on Tuesday, tracking overnight gains on Wall Street.
The Nikkei 225 Stock Average inched up 0.4%, and the broader Topix gained 0.3%, and investor sentiment was positive following the 3-day weekend.
The Bank of Japan is widely anticipated to hold its short-term rate at 0.5% and update its inflation and economic growth outlook following a two-day meeting on Friday.
Investor sentiment was cautious amid the lingering uncertainty about the Japan-US trade talks and the LDP leadership elections after the sudden resignation of the prime minister, Shigeru Ishiba.
The Bank of Japan is worried that the export-driven economy of Japan may struggle to expand amid unpredictable U.S. trade policy, and wage gains at small- and mid-sized corporations are lagging increases at larger and export-driven companies.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged up 0.4% to 44,908.62, and the broader Topix inched higher 0.3% to 3,170.26.
Semiconductor equipment makers led gainers in Tokyo following sharp increases in tech stocks in New York.
Tokyo Electron Ltd. increased 1.9% to ¥23,015.0, Advantest Corp. added 1.3% to ¥14,130.0, and Disco Corp. jumped 8.2% to ¥44,460.0.
Toyota Motor Corp. added 1.6% to ¥2,934.50, Honda Motor Co. Ltd. increased 0.7% to ¥1,661.0, and Nissan Motor Co. Ltd. decreased 0.4% to ¥363.0.
Japan Indexes Closed at New Highs Ahead of Rate Decisions
Akira Ito
16 Sep, 2025
Tokyo
Stock market indexes in Tokyo edged higher on Tuesday, tracking overnight gains on Wall Street.
The Nikkei 225 Stock Average inched up 0.4%, and the broader Topix gained 0.3%, and investor sentiment was positive following the 3-day weekend.
The Bank of Japan is widely anticipated to hold its short-term rate at 0.5% and update its inflation and economic growth outlook following a two-day meeting on Thursday.
Investor sentiment was cautious amid the lingering uncertainty about the Japan-US trade talks and the LDP leadership elections after the sudden resignation of the prime minister, Shigeru Ishiba.
The Bank of Japan is worried that the export-driven economy of Japan may struggle to expand amid unpredictable U.S. trade policy, and wage gains at small- and mid-sized corporations are lagging increases at larger and export-driven companies.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged up 0.4% to 44,908.62, and the broader Topix inched higher 0.3% to 3,170.26.
Semiconductor equipment makers led gainers in Tokyo following sharp increases in tech stocks in New York.
Tokyo Electron Ltd. increased 1.9% to ¥23,015.0, Advantest Corp. added 1.3% to ¥14,130.0, and Disco Corp. jumped 8.2% to ¥44,460.0.
Toyota Motor Corp. added 1.6% to ¥2,934.50, Honda Motor Co. Ltd. increased 0.7% to ¥1,661.0, and Nissan Motor Co. Ltd. decreased 0.4% to ¥363.0.
China and U.S. Tout Trade Framework Agreement Again, Hesai Group In Focus After Hong Kong Listing
Li Chen
16 Sep, 2025
Hong Kong
Stock market indexes in China and Hong Kong lacked direction, and investors awaited details of the US-China "trade framework agreement."
The Hang Seng index fluctuated around the flatline, and the mainland-focused CSI 300 index edged down 0.4% following mixed macroeconomic data on Monday.
Investor sentiment was cautious, and US-China trade negotiations in Madrid, Spain, showed a little progress.
Both sides agreed to lower trade and investment barriers and "agreed" to "transfer" ownership of TikTok to a U.S.-controlled entity.
The leaders of the two nations are expected to talk on Friday; however, expectations for a trade agreement are low.
Moreover, only a month is left for China to finalize its purchase of U.S. soybeans, and China purchases as much as 50% of U.S. soybeans.
The U.S. government heavily subsidizes local farmers to produce soybeans, corn, and wheat, and a significant amount of crop production is exported to China and other nations.
China Indexes and Stocks
The Hang Seng index was nearly unchanged at 26,466.45, and the mainland-focused CSI 300 index decreased 0.4% to 4,515.86.
Tariff and international travel-sensitive stocks were in focus in Shanghai and Hong Kong.
Trip.com Group advanced 3% to HK$591.0, Alibaba Group Holding decreased 0.3% to HK$154.10, and China Hongqiao Group dropped 5% to HK$25.22.
Hesai Group jumped 11% to HK237.20, and the mainland-based company listed its stock on the Hong Kong Stock Exchange.
The lidar sensor maker sold 19.55 million shares and raised about HK$4.2 billion, or US$531 million, in a secondary offering. International investors purchased about 90% of the stocks.
China and U.S. Tout Trade Framework Agreement Again, Hesai Group In Focus After Hong Kong Listing
Li Chen
16 Sep, 2025
Hong Kong
Stock market indexes in China and Hong Kong lacked direction, and investors awaited details of the US-China "trade framework agreement."
The Hang Seng index fluctuated around the flatline, and the mainland-focused CSI 300 index edged down 0.4% following mixed macroeconomic data on Monday.
Investor sentiment was cautious, and US-China trade negotiations in Madrid, Spain, showed a little progress.
Both sides agreed to lower trade and investment barriers and "agreed" to "transfer" ownership of TikTok to a U.S.-controlled entity.
The leaders of the two nations are expected to talk on Friday; however, expectations for a trade agreement are low.
Moreover, only a month is left for China to finalize its purchase of U.S. soybeans, and China purchases as much as 50% of U.S. soybeans.
The U.S. government heavily subsidizes local farmers to produce soybeans, corn, and wheat, and a significant amount of crop production is exported to China and other nations.
China Indexes and Stocks
The Hang Seng index was nearly unchanged at 26,466.45, and the mainland-focused CSI 300 index decreased 0.4% to 4,515.86.
Tariff and international travel-sensitive stocks were in focus in Shanghai and Hong Kong.
Trip.com Group advanced 3% to HK$591.0, Alibaba Group Holding decreased 0.3% to HK$154.10, and China Hongqiao Group dropped 5% to HK$25.22.
Hesai Group jumped 11% to HK237.20, and the mainland-based company listed its stock on the Hong Kong Stock Exchange.
The lidar sensor maker sold 19.55 million shares and raised about HK$4.2 billion, or US$531 million, in a secondary offering. International investors purchased about 90% of the stocks.