Market Update
Indexes In Shanghai and Hong Kong Advanced In January Overlooking Trade and Geopolitical Tensions
Li Chen
30 Jan, 2026
Hong Kong
Stock indexes in China and Hong Kong traded down as investors locked in profits ahead of a flood of earnings reports next week.
The Hang Seng Index decreased 1.6%, and the mainland-focused CSI 300 Index declined 1% amid elevated geopolitical tensions and the possible rise in trade frictions with the U.S.
The Hang Seng Index halted a seven-day rally, and the index gained about 7.4% in January, its best monthly rise since February 2025, when it rose 13%.
In January, the benchmark index in Shanghai increased 3.5%, and the broader CSI 300 Index advanced 1.6%.
In overnight trading in New York, the S&P 500 index decreased 0.1%, and the Nasdaq Composite fell 0.7% after investors reacted to Microsoft's earnings and the Fed's interest rate decisions.
Markets in Asia traded mixed ahead of the ramp-up in earnings next week, and the U.S. president said he will announce his selection for the next Federal Reserve chair on Friday.
China Indexes and Stocks
The Hang Seng Index dropped 1.6% to 27,509.91, and the mainland-focused CSI 300 Index decreased 1% to 4,705.81.
Zijin Mining Group dropped 8% to HK $42.0, and Zijin Gold International plunged 10% to HK $219.20 after gold prices swung 8% in overnight intraday trading in New York.
New World Development rose 3.4% to HK $11.54 after the company confirmed that potential investors approached its parent company, Chow Tai Fook Enterprises.
Fed Sounds Confident About Economy, Flight to Metals Accelerates; Microsoft, IBM, and Meta In Focus
Barry Adams
29 Jan, 2026
New York City
Stocks on Wall Street advanced on Thursday as investors reviewed the latest earnings reports and the Fed's rate decisions.
The S&P 500 index inched up 0.1%, and the tech-heavy Nasdaq Composite advanced 0.2% amid elevated geopolitical risks and trade friction.
In Wednesday's session, the Nasdaq Composite advanced 0.2%, driven by another run-up in Micron Technology, Nvidia, and other leading semiconductor designers.
The widely followed benchmark index crossed 7,000 for the first time in intraday trading on Wednesday, after the Federal Reserve held steady its key lending rate range between 3.5% and 3.75%, as expected.
The central bank signaled that the U.S. economy is holding up and rates "are sufficiently restrictive" in post-decision comments while talking to reporters.
The U.S. Federal Reserve lowered rates three times in 2025, and traders are anticipating at least two additional rate cuts totaling 50 basis points in 2026.
Oil explorers advanced on reports that the U.S. is preparing to conduct additional air strikes in Iran, which could disrupt global crude oil flows.
The U.S. president said that the U.S. naval forces in the region are ready to "act with speed and violence, if necessary," adding to fears that Iran's retaliation could disrupt oil flows through the Strait of Hormuz, responsible for roughly one-third of the global supply.
Gold jumped 2% to $5,525.19 an ounce, and silver advanced 1.9% to $118.79 amid a surge in buying after the U.S. Federal Reserve held the benchmark interest rate range steady.
U.S. Movers
Microsoft Corp. dropped 7% to $448.67 after the software company reported higher-than-expected earnings in its latest quarter, but capital expenditures were ahead of expectations.
Meta Platforms soared 7.4% to $724.97, and the parent company of Facebook reported better-than-expected revenues and earnings in the fourth quarter.
Revenue increased to $59.9 billion, and diluted earnings per share rose to $8.88 per share, and the company forecasted first-quarter sales to range between $53.5 billion and $56.5 billion.
Southwest Airlines jumped 5.6% to $43.16 after the company estimated a higher-than-estimated adjusted profit of $4.0 per share in 2026.
Tesla Inc. rose 3% to $443.20 despite the electric vehicle maker reporting mixed results in the fourth quarter.
Tesla reported its first annual sales decline, driven by a fall in vehicle sales in three of the last four quarters.
IBM rose 9.1% to $320.50, and the legacy tech major's quarterly results surpassed market expectations.
The company reported adjusted earnings of $4.32 per share on revenue of $19.3 billion.
Fed Sounds Confident About Economy, Flight to Metals Accelerates; Microsoft, IBM, and Meta In Focus
Barry Adams
29 Jan, 2026
New York City
Stocks on Wall Street advanced on Thursday as investors reviewed the latest earnings reports and the Fed's rate decisions.
The S&P 500 index inched up 0.1%, and the tech-heavy Nasdaq Composite advanced 0.2% amid elevated geopolitical risks and trade friction.
In Wednesday's session, the Nasdaq Composite advanced 0.2%, driven by another run-up in Micron Technology, Nvidia, and other leading semiconductor designers.
The widely followed benchmark index crossed 7,000 for the first time in intraday trading on Wednesday, after the Federal Reserve held steady its key lending rate range between 3.5% and 3.75%, as expected.
The central bank signaled that the U.S. economy is holding up and rates "are sufficiently restrictive" in post-decision comments while talking to reporters.
The U.S. Federal Reserve lowered rates three times in 2025, and traders are anticipating at least two additional rate cuts totaling 50 basis points in 2026.
Oil explorers advanced on reports that the U.S. is preparing to conduct additional air strikes in Iran, which could disrupt global crude oil flows.
The U.S. president said that the U.S. naval forces in the region are ready to "act with speed and violence, if necessary," adding to fears that Iran's retaliation could disrupt oil flows through the Strait of Hormuz, responsible for roughly one-third of the global supply.
Gold jumped 2% to $5,525.19 an ounce, and silver advanced 1.9% to $118.79 amid a surge in buying after the U.S. Federal Reserve held the benchmark interest rate range steady.
U.S. Movers
Microsoft Corp. dropped 7% to $448.67 after the software company reported higher-than-expected earnings in its latest quarter, but capital expenditures were ahead of expectations.
Meta Platforms soared 7.4% to $724.97, and the parent company of Facebook reported better-than-expected revenues and earnings in the fourth quarter.
Revenue increased to $59.9 billion, and diluted earnings per share rose to $8.88 per share, and the company forecasted first-quarter sales to range between $53.5 billion and $56.5 billion.
Southwest Airlines jumped 5.6% to $43.16 after the company estimated a higher-than-estimated adjusted profit of $4.0 per share in 2026.
Tesla Inc. rose 3% to $443.20 despite the electric vehicle maker reporting mixed results in the fourth quarter.
Tesla reported its first annual sales decline, driven by a fall in vehicle sales in three of the last four quarters.
IBM rose 9.1% to $320.50, and the legacy tech major's quarterly results surpassed market expectations.
The company reported adjusted earnings of $4.32 per share on revenue of $19.3 billion.
Steady International Flows Power Seven-Day Rally In China Stocks
Li Chen
29 Jan, 2026
Hong Kong
Stocks in mainland China and Hong Kong advanced amid earnings optimism and sustained flows to emerging markets.
The Hang Seng Index increased 0.5%, and the mainland-focused CSI 300 index jumped nearly 1% as the Sell America trade continued to direct funds to emerging economies of Asia and Europe.
Oil explorers advanced on reports that the U.S. is preparing to conduct additional air strikes in Iran, which could disrupt global crude oil flows.
The U.S. president said that the U.S. naval forces in the region are ready to "act with speed and violence, if necessary," adding to fears that Iran's retaliation could disrupt oil flows through the Strait of Hormuz, responsible for roughly one third of global supply.
Gold jumped 3% to $5,585 an ounce, and silver advanced 2.5% to $119.50 amid a surge in buying after the U.S. Federal Reserve held the benchmark interest rate range between 3.5% and 3.75%.
The central bank signaled that the U.S. economy is holding up and rates "are sufficiently restrictive" in post-decision comments while talking to reporters.
The U.S. Federal Reserve lowered rates three times in 2025, and traders are anticipating at least two additional rate cuts totaling 50 basis points in 2026.
China Indexes and Stocks
The Hang Seng Index increased 0.5% to 27,963.29, and the mainland-focused CSI 300 Index advanced 0.9% to 4,762.26.
Zijin Gold International decreased 2.6% to HK $242.60, Zijin Mining Group advanced 2.6% to HK $45.82, CNOOC Ltd. gained 2.7% to HK $25.32, and PetroChina increased 2.6% to HK $9.50.
Longfor Group Holdings jumped 4.4% to HK $10.32, China Vanke Company soared 7.3% to HK $4.01, and China Resources Land increased 3.8% to HK $30.94.
Steady International Flows Power Seven-Day Rally In China S
Li Chen
29 Jan, 2026
Hong Kong
Stocks in mainland China and Hong Kong advanced amid earnings optimism and sustained flows to emerging markets.
The Hang Seng Index increased 0.5%, and the mainland-focused CSI 300 index jumped nearly 1% as the Sell America trade continued to direct funds to emerging economies of Asia and Europe.
Oil explorers advanced on reports that the U.S. is preparing to conduct additional air strikes in Iran, which could disrupt global crude oil flows.
The U.S. president said that the U.S. naval forces in the region are ready to "act with speed and violence, if necessary," adding to fears that Iran's retaliation could disrupt oil flows through the Strait of Hormuz, responsible for roughly one third of global supply.
Gold jumped 3% to $5,585 an ounce, and silver advanced 2.5% to $119.50 amid a surge in buying after the U.S. Federal Reserve held the benchmark interest rate range between 3.5% and 3.75%.
The central bank signaled that the U.S. economy is holding up and rates "are sufficiently restrictive" in post-decision comments while talking to reporters.
The U.S. Federal Reserve lowered rates three times in 2025, and traders are anticipating at least two additional rate cuts totaling 50 basis points in 2026.
China Indexes and Stocks
The Hang Seng Index increased 0.5% to 27,963.29, and the mainland-focused CSI 300 Index advanced 0.9% to 4,762.26.
Zijin Gold International decreased 2.6% to HK $242.60, Zijin Mining Group advanced 2.6% to HK $45.82, CNOOC Ltd. gained 2.7% to HK $25.32, and PetroChina increased 2.6% to HK $9.50.
Longfor Group Holdings jumped 4.4% to HK $10.32, China Vanke Company soared 7.3% to HK $4.01, and China Resources Land increased 3.8% to HK $30.94.
U.S. Movers: ASML, Seagate Technology, Texas Instruments, Qorvo
Scott Peters
28 Jan, 2026
New York City
ASML Holding jumped 5.5% to $1,535.68 after the advanced semiconductor equipment company reported strong sales and orders in its latest quarter.
Net sales in the fourth quarter increased to €9.7 billion from €9.2 billion, net income increased to €2.8 billion from €2.7 billion, and diluted earnings per share advanced to €7.34 from €6.83 a year ago.
Net bookings in the quarter rose to €13.2 billion from €5.4 billion in the previous quarter, and backlog at the end of the quarter increased to €38.8 billion.
ASML expects total net sales in the first quarter to be between €8.2 billion and €8.9 billion, with a gross margin between 51% and 53%, and 2026 total net sales to be between €34 billion and €39 billion, with a gross margin between 51% and 53%.
The company announced a new stock repurchase program of up to €12 billion ending at the end of 2028.
Texas Instruments gained 9.3% to $215.0 after the advanced chipmaker issued a better-than-expected outlook for the first quarter.
The company estimated revenue between $4.3 billion and $4.7 billion, and earnings per share between $1.22 and $1.48.
Seagate Technology soared 11% to $411.0 after the digital storage infrastructure company reported higher-than-expected earnings in its latest quarter.
Revenue in the fiscal second quarter increased to $2.8 billion, and adjusted earnings per share were $3.11.
Qorvo Inc. dropped 11% to $73.70 after the chipmaker's current quarter guidance fell short of market expectations.
The company reported higher-than-expected results in the fiscal third quarter, and revenue increased to $993 million, and earnings per share were $2.17.
U.S. Movers: ASML, Seagate Technology, Texas Instruments, Qorvo
Scott Peters
28 Jan, 2026
New York City
ASML Holding jumped 5.5% to $1,535.68 after the advanced semiconductor equipment company reported strong sales and orders in its latest quarter.
Net sales in the fourth quarter increased to €9.7 billion from €9.2 billion, net income increased to €2.8 billion from €2.7 billion, and diluted earnings per share advanced to €7.34 from €6.83 a year ago.
Net bookings in the quarter rose to €13.2 billion from €5.4 billion in the previous quarter, and backlog at the end of the quarter increased to €38.8 billion.
ASML expects total net sales in the first quarter to be between €8.2 billion and €8.9 billion, with a gross margin between 51% and 53%, and 2026 total net sales to be between €34 billion and €39 billion, with a gross margin between 51% and 53%.
The company announced a new stock repurchase program of up to €12 billion ending at the end of 2028.
Texas Instruments gained 9.3% to $215.0 after the advanced chipmaker issued a better-than-expected outlook for the first quarter.
The company estimated revenue between $4.3 billion and $4.7 billion, and earnings per share between $1.22 and $1.48.
Seagate Technology soared 11% to $411.0 after the digital storage infrastructure company reported higher-than-expected earnings in its latest quarter.
Revenue in the fiscal second quarter increased to $2.8 billion, and adjusted earnings per share were $3.11.
Qorvo Inc. dropped 11% to $73.70 after the chipmaker's current quarter guidance fell short of market expectations.
The company reported higher-than-expected results in the fiscal third quarter, and revenue increased to $993 million, and earnings per share were $2.17.
Tech Stocks, Gold, and Silver Rally as Trump's Unpredictability Weighed On the Dollar
Barry Adams
28 Jan, 2026
New York City
Wall Street indexes extended weekly advances ahead of the Fed's rate decisions and quarterly results from leading tech companies.
The S&P 500 index increased 0.4%, and the tech-heavy Nasdaq Composite index gained 0.7% as investors awaited earnings reports from Meta Platforms, Microsoft, and Meta Platforms Wednesday after the close of the regular trading session.
Health insurance stocks extended two-day losses amid pessimism about revenue growth over the next two years as the Trump administration proposed a 0.1% increase in payout for key insurance plans.
Gold surged 1.8% to $5,276.31 a troy ounce, and silver gained 1% to $113.18 an ounce after the U.S. president said he was not concerned about the recent decline in the dollar.
The U.S. dollar weakened for the fifth session in a row and hovered at a four-year low against a basket of currencies amid U.S. policy uncertainty, the chaotic trade policy of the Trump administration, and the attacks on the Federal Reserve's independence.
U.S. Movers
Texas Instruments gained 9.3% to $215.0 after the advanced chipmaker issued a better-than-expected outlook for the first quarter.
The company estimated revenue between $4.3 billion and $4.7 billion, and earnings per share between $1.22 and $1.48.
Seagate Technology soared 11% to $411.0 after the digital storage infrastructure company reported higher-than-expected earnings in its latest quarter.
Revenue in the fiscal second quarter increased to $2.8 billion, and adjusted earnings per share were $3.11.
Qorvo Inc. dropped 11% to $73.70 after the chipmaker's current quarter guidance fell short of market expectations.
The company reported higher-than-expected results in the fiscal third quarter, and revenue increased to $993 million, and earnings per share were $2.17.
Tech Stocks, Gold, and Silver Rally as Trump's Unpredictability Weighed On the Dollar
Barry Adams
28 Jan, 2026
New York City
Wall Street indexes extended weekly advances ahead of the Fed's rate decisions and quarterly results from leading tech companies.
The S&P 500 index increased 0.4%, and the tech-heavy Nasdaq Composite index gained 0.7% as investors awaited earnings reports from Meta Platforms, Microsoft, and Meta Platforms Wednesday after the close of the regular trading session.
Health insurance stocks extended two-day losses amid pessimism about revenue growth over the next two years as the Trump administration proposed a 0.1% increase in payout for key insurance plans.
Gold surged 1.8% to $5,276.31 a troy ounce, and silver gained 1% to $113.18 an ounce after the U.S. president said he was not concerned about the recent decline in the dollar.
The U.S. dollar weakened for the fifth session in a row and hovered at a four-year low against a basket of currencies amid U.S. policy uncertainty, the chaotic trade policy of the Trump administration, and the attacks on the Federal Reserve's independence.
U.S. Movers
Texas Instruments gained 9.3% to $215.0 after the advanced chipmaker issued a better-than-expected outlook for the first quarter.
The company estimated revenue between $4.3 billion and $4.7 billion, and earnings per share between $1.22 and $1.48.
Seagate Technology soared 11% to $411.0 after the digital storage infrastructure company reported higher-than-expected earnings in its latest quarter.
Revenue in the fiscal second quarter increased to $2.8 billion, and adjusted earnings per share were $3.11.
Qorvo Inc. dropped 11% to $73.70 after the chipmaker's current quarter guidance fell short of market expectations.
The company reported higher-than-expected results in the fiscal third quarter, and revenue increased to $993 million, and earnings per share were $2.17.
Japan's Indexes Extended 2-Day Losses Amid Yen Anxieties
Akira Ito
28 Jan, 2026
Tokyo
The yen anxieties dominated in Tokyo's trading amid dampened earnings growth expectations.
The Nikkei 225 Stock Average decreased 0.6%, the mainland-focused Topix fell 0.9%, and the yen hovered at 152.60 against the U.S. dollar.
Over the last four trading sessions, the yen has strengthened 4% against the U.S. dollar amid growing speculation over potential Japan-U.S. joint intervention to prop up the yen.
The U.S. dollar faced renewed pressure, and the currency extended a 4-day decline to over 2% and fell to a four-year low after the U.S. president brushed aside the recent decline.
The Trump administration's chaotic trade policy and attacks on the Federal Reserve's independence, and rising odds of a U.S. government partial shutdown as early as this weekend further pressured the U.S. dollar.
The Bank of Japan's December policy meeting minutes showed that members are ready to raise short-term rates if the outlook for growth and inflation holds.
Japan's central bank held its short-term rates at 0.75% at its first policy meeting of 2026, as widely anticipated, keeping borrowing costs at their highest levels in three decades and ahead of February's snap election.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.6% to 52,996.56, and the broader Topix Index fell 0.9% to 3,530.0.
Japan's export-driven stocks led decliners in Tokyo trading, as the firmer yen dampened earnings outlook.
Sony Group decreased 2.5% to ¥3,401.0, Toyota Motor Corp. declined 2.5% to ¥3,347.0, and Mitsubishi Heavy Industries fell 2.5% to ¥4,418.0.
Sumitomo Mitsui Financial Group decreased 1.3% to ¥5,360.0, Mitsubishi UFJ Financial Group eased 0.4% to ¥2,758.50, and Mizuho Financial Group added 0.7% to ¥6,625.0.
Japan's Indexes Extended 2-Day Losses Amid Yen Anxieties
Akira Ito
28 Jan, 2026
Tokyo
The yen anxieties dominated in Tokyo's trading amid dampened earnings growth expectations.
The Nikkei 225 Stock Average decreased 0.6%, the mainland-focused Topix fell 0.9%, and the yen hovered at 152.60 against the U.S. dollar.
Over the last four trading sessions, the yen has strengthened 4% against the U.S. dollar amid growing speculation over potential Japan-U.S. joint intervention to prop up the yen.
The U.S. dollar faced renewed pressure, and the currency extended a 4-day decline to over 2% and fell to a four-year low after the U.S. president brushed aside the recent decline.
The Trump administration's chaotic trade policy and attacks on the Federal Reserve's independence, and rising odds of a U.S. government partial shutdown as early as this weekend further pressured the U.S. dollar.
The Bank of Japan's December policy meeting minutes showed that members are ready to raise short-term rates if the outlook for growth and inflation holds.
Japan's central bank held its short-term rates at 0.75% at its first policy meeting of 2026, as widely anticipated, keeping borrowing costs at their highest levels in three decades and ahead of February's snap election.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.6% to 52,996.56, and the broader Topix Index fell 0.9% to 3,530.0.
Japan's export-driven stocks led decliners in Tokyo trading, as the firmer yen dampened earnings outlook.
Sony Group decreased 2.5% to ¥3,401.0, Toyota Motor Corp. declined 2.5% to ¥3,347.0, and Mitsubishi Heavy Industries fell 2.5% to ¥4,418.0.
Sumitomo Mitsui Financial Group decreased 1.3% to ¥5,360.0, Mitsubishi UFJ Financial Group eased 0.4% to ¥2,758.50, and Mizuho Financial Group added 0.7% to ¥6,625.0.