China Indexes Advanced Ahead of Holiday Break, Four New Listings Plunged

Li Chen
22 Dec, 2025
Hong Kong

Stocks advanced on Monday in China and Hong Kong at the start of the holiday-shortened week. 

The Hang Seng Index increased 0.3%, and the mainland-focused CSI 300 index advanced 0.8% as investors adjusted positions as the year-end approached. 

The Hong Kong Stock Exchange will close early on December 24, while market operations will be suspended on December 25 and 26 and reopen regular trading hours on December 29.  

The Stock Connect, the electronic link that facilitates traders in mainland China to purchase stocks in Hong Kong, will also halt its trading in the early afternoon on December 24 and reopen on December 29.  

Optimism prevailed in Monday's trading as investors held out for a strong finish in 2025, driven by expectations of higher earnings.  

Across Asia, benchmark indexes advanced nearly 2% in Tokyo and Seoul, edged higher 1% in Sydney, and gained a fraction in Taiwan and Malaysia. 

China Stocks and Movers 

The Hang Seng Index increased 0.3% to 25,768.64, and the mainland-focused CSI 300 index added 0.8% to 4,604.43. 

E-commerce and AI-linked stocks dominated market gainers on Monday.

Alibaba Group advanced 1.1%, Tencent Holdings edged up 0.1%, Baidu Inc. jumped 2%, and Meituan inched higher 0.2%. 

On the downside, ZTO Express, Xiaomi, and NetEase declined between 1% and 2%. 

Four new companies listed on the Hong Kong Stock Exchange on Monday, as companies raced to complete initial public offerings ahead of the year's end. 

BenQ BM Holding dropped nearly 40% to HK $5.75, and the general hospital group priced its initial public offering at HK $9.34 per share. 

The company raised HK$625.8 million in gross proceeds through the sale of 67 million shares. 

B&K Corporation Ltd. dropped 7% to HK $35.40, and the biopharma company priced its offering at HK $38.20 per share. 

The protein therapy-focused company raised gross proceeds of HK $674.2 million through the sale of 17.6 million shares. 

Impression Dahongpao plunged more than 25% to HK $2.70, and the cultural tourism-focused company priced its initial offering at HK $3.60 per share. 

The cultural tourism services provider and hotel management company raised gross proceeds of HK $129.96 million through the sale of 36.1 million shares. 

Nanhua Futures decreased 19% to HK $9.50, and the company priced its initial public offering at HK $12.0 per share. 

The futures brokerage company raised gross proceeds of HK $1.3 billion through the sale of 107.6 million shares.  

China Indexes Advanced Ahead of Holiday Break, Four New Listings Plunged

Li Chen
22 Dec, 2025
Hong Kong

Stocks advanced on Monday in China and Hong Kong at the start of the holiday-shortened week. 

The Hang Seng Index increased 0.3%, and the mainland-focused CSI 300 index advanced 0.8% as investors adjusted positions as the year-end approached. 

The Hong Kong Stock Exchange will close early on December 24, while market operations will be suspended on December 25 and 26 and reopen regular trading hours on December 29.  

The Stock Connect, the electronic link that facilitates traders in mainland China to purchase stocks in Hong Kong, will also halt its trading in the early afternoon on December 24 and reopen on December 29.  

Optimism prevailed in Monday's trading as investors held out for a strong finish in 2025, driven by expectations of higher earnings.  

Across Asia, benchmark indexes advanced nearly 2% in Tokyo and Seoul, edged higher 1% in Sydney, and gained a fraction in Taiwan and Malaysia. 

China Stocks and Movers 

The Hang Seng Index increased 0.3% to 25,768.64, and the mainland-focused CSI 300 index added 0.8% to 4,604.43. 

E-commerce and AI-linked stocks dominated market gainers on Monday.

Alibaba Group advanced 1.1%, Tencent Holdings edged up 0.1%, Baidu Inc. jumped 2%, and Meituan inched higher 0.2%. 

On the downside, ZTO Express, Xiaomi, and NetEase declined between 1% and 2%. 

Four new companies listed on the Hong Kong Stock Exchange on Monday, as companies raced to complete initial public offerings ahead of the year's end. 

BenQ BM Holding dropped nearly 40% to HK $5.75, and the general hospital group priced its initial public offering at HK $9.34 per share. 

The company raised HK$625.8 million in gross proceeds through the sale of 67 million shares. 

B&K Corporation Ltd. dropped 7% to HK $35.40, and the biopharma company priced its offering at HK $38.20 per share. 

The protein therapy-focused company raised gross proceeds of HK $674.2 million through the sale of 17.6 million shares. 

Impression Dahongpao plunged more than 25% to HK $2.70, and the cultural tourism-focused company priced its initial offering at HK $3.60 per share. 

The cultural tourism services provider and hotel management company raised gross proceeds of HK $129.96 million through the sale of 36.1 million shares. 

Nanhua Futures decreased 19% to HK $9.50, and the company priced its initial public offering at HK $12.0 per share. 

The futures brokerage company raised gross proceeds of HK $1.3 billion through the sale of 107.6 million shares.  

U.S. Movers: FedEx, Nike

Scott Peters
19 Dec, 2025
New York City

Nike Inc. dropped 10.5% to $58.75 despite the athletic shoemaker's quarterly results surpassing market expectations, but sales weakness in China and U.S. tariff-driven hits to overall margins pressured the stock. 

Revenue in the fiscal second quarter ending in November increased 1% to $12.4 billion from $12.35 billion, net income plunged 32% to $792 million from $1.2 billion, and diluted earnings per share dropped to 53 cents from 78 cents a year ago. 

Nike said gross margin decreased 300 basis points to 40.6% and inventories declined 3% to $7.7 billion, primarily due to higher tariffs in the U.S. 

The increase in North America sales by 9% to $5.6 billion from $5.2 billion was offset by a 17% plunge in Greater China sales to $1.4 billion from $1.7 billion a year ago. 

FedEx Corp. decreased 2.2% to $281.0, and the parcel delivery company's fiscal second-quarter results topped market expectations. 

Revenue in the fiscal second quarter of 2026 ending in November increased 7% to $23.5 billion from $22.0 billion, net income increased 29% to $956 million from $741 million, and diluted earnings per share jumped 33% to $4.04 from $3.03 a year ago. 

FedEx confirmed it is on track to change its fiscal year-end to December 31 from May 31, effective June 1, 2026.  

The company revised its fiscal 2026 revenue growth outlook to range between 5% and 6% from the previous range between 4% and 6%. 

FedEx revised its diluted earnings per share range to between $14.60 and $16.0 from the previous estimated range between $14.20 and $16.0, before retirement plan accounting adjustments. 

The Memphis, Tennessee-based company lowered its pension contributions estimate to $275 million, compared to the prior forecast of up to $400 million.  The company reiterated its capital expenditure estimate of $4.5 billion in the current fiscal year.

U.S. Movers: FedEx, Nike

Scott Peters
19 Dec, 2025
New York City

Nike Inc. dropped 10.5% to $58.75 despite the athletic shoemaker's quarterly results surpassing market expectations, but sales weakness in China and U.S. tariff-driven hits to overall margins pressured the stock. 

Revenue in the fiscal second quarter ending in November increased 1% to $12.4 billion from $12.35 billion, net income plunged 32% to $792 million from $1.2 billion, and diluted earnings per share dropped to 53 cents from 78 cents a year ago. 

Nike said gross margin decreased 300 basis points to 40.6% and inventories declined 3% to $7.7 billion, primarily due to higher tariffs in the U.S. 

The increase in North America sales by 9% to $5.6 billion from $5.2 billion was offset by a 17% plunge in Greater China sales to $1.4 billion from $1.7 billion a year ago. 

FedEx Corp. decreased 2.2% to $281.0, and the parcel delivery company's fiscal second-quarter results topped market expectations. 

Revenue in the fiscal second quarter of 2026 ending in November increased 7% to $23.5 billion from $22.0 billion, net income increased 29% to $956 million from $741 million, and diluted earnings per share jumped 33% to $4.04 from $3.03 a year ago. 

FedEx confirmed it is on track to change its fiscal year-end to December 31 from May 31, effective June 1, 2026.  

The company revised its fiscal 2026 revenue growth outlook to range between 5% and 6% from the previous range between 4% and 6%. 

FedEx revised its diluted earnings per share range to between $14.60 and $16.0 from the previous estimated range between $14.20 and $16.0, before retirement plan accounting adjustments. 

The Memphis, Tennessee-based company lowered its pension contributions estimate to $275 million, compared to the prior forecast of up to $400 million.  The company reiterated its capital expenditure estimate of $4.5 billion in the current fiscal year.

Investors Questioned Cooler U.S. Inflation Report, Benchmark Indexes Under Pressure

Barry Adams
19 Dec, 2025
New York City

Stocks on Wall Street lacked momentum, and investors debated the accuracy of the latest inflation update. 

The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite decreased 0.2% amid growing skepticism about the latest consumer price inflation report. 

Benchmark indexes headed higher on Thursday after November's inflation weakened to 2.7% and the core rate held at 2.6%. 

However, investors worried that the methodology used to calculate the cost of shelter may understate the overall inflation by a significant margin. 

The U.S. Bureau of Labor Statistics estimated the owner's equivalent inflation rate at zero, because the 43-day government shutdown prevented the federal agency from collecting key economic data. 

The shelter cost is likely to be sharply revised in December's inflation report, which could reaccelerate overall inflation to above 3.2%, higher than the Fed's target rate. 

Moreover, the federal government shutdown also prompted retailers to launch holiday sales earlier than usual, contributing to a downward pressure on the index. 

In international news, major central banks announced their rate decision on Thursday and Friday. 

The Bank of Japan increased its short-term rate by 25 basis points to 0.75%, increasing rates to a 30-year high, as policymakers race to normalize policy after a decade of an ultra-loose stance. 

On Thursday, the European Central Bank and the Bank of England announced their rate decisions, matching market expectations. 

The ECB held steady its reference rate at 2% and lifted its GDP growth outlook as inflation hovered near the 2% target rate. 

The Bank of England trimmed its policy rate by 25 basis points to 3.75% and signaled that, despite the weakening inflationary forces, future rate cuts are not assured in February and March 2026. 

U.S. Movers 

Nike Inc. dropped 10.5% to $58.75 despite the athletic shoemaker's quarterly results surpassing market expectations, but sales weakness in China and U.S. tariff-driven hits to overall margins pressured the stock. 

FedEx Corp. decreased 2.2% to $281.0, and the parcel delivery company's fiscal second-quarter results topped market expectations. 

Investors Questioned Cooler U.S. Inflation Report, Benchmark Indexes Under Pressure

Barry Adams
19 Dec, 2025
New York City

Stocks on Wall Street lacked momentum, and investors debated the accuracy of the latest inflation update. 

The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite decreased 0.2% amid growing skepticism about the latest consumer price inflation report. 

Benchmark indexes headed higher on Thursday after November's inflation weakened to 2.7% and the core rate held at 2.6%. 

However, investors worried that the methodology used to calculate the cost of shelter may understate the overall inflation by a significant margin. 

The U.S. Bureau of Labor Statistics estimated the owner's equivalent inflation rate at zero, because the 43-day government shutdown prevented the federal agency from collecting key economic data. 

The shelter cost is likely to be sharply revised in December's inflation report, which could reaccelerate overall inflation to above 3.2%, higher than the Fed's target rate. 

Moreover, the federal government shutdown also prompted retailers to launch holiday sales earlier than usual, contributing to a downward pressure on the index. 

In international news, major central banks announced their rate decision on Thursday and Friday. 

The Bank of Japan increased its short-term rate by 25 basis points to 0.75%, increasing rates to a 30-year high, as policymakers race to normalize policy after a decade of an ultra-loose stance. 

On Thursday, the European Central Bank and the Bank of England announced their rate decisions, matching market expectations. 

The ECB held steady its reference rate at 2% and lifted its GDP growth outlook as inflation hovered near the 2% target rate. 

The Bank of England trimmed its policy rate by 25 basis points to 3.75% and signaled that, despite the weakening inflationary forces, future rate cuts are not assured in February and March 2026. 

U.S. Movers 

Nike Inc. dropped 10.5% to $58.75 despite the athletic shoemaker's quarterly results surpassing market expectations, but sales weakness in China and U.S. tariff-driven hits to overall margins pressured the stock. 

FedEx Corp. decreased 2.2% to $281.0, and the parcel delivery company's fiscal second-quarter results topped market expectations. 

BoJ Delivered Widely Anticipated Rate Increase and Signaled Readiness for Future Hikes

Akira Ito
19 Dec, 2025
Tokyo

Japan's indexes advanced after the Bank of Japan delivered a widely anticipated rate hike, and investors reviewed the latest inflation update. 

The Nikkei 225 Stock Average gained 1.1%, the broader Topix increased 0.9%, and the yen approached the 156 mark against the U.S. dollar. 

The Bank of Japan increased its key short-term interest rate by 25 basis points to 0.75%, matching the market expectations. 

The central bank raised rates to the highest level in 30 years after inflation stayed above the policymakers' target rate of 2% for the 44th consecutive month in November. 

The central bank signaled that future rate hikes are likely if its estimate of wage hikes and inflation materializes, confirming market expectations of as many as two rate hikes in 2026.  

Japan's central bank ended its ultra-loose monetary policy last year and raised rates two times to 0.5% as the surging food prices drove the overall inflation rate above the 2% level for nearly four years. 

The Bank of Japan, in its post-meeting statement, reiterated its inflation outlook to converge to 2% before the end of fiscal year 2027. 

The overall inflation eased slightly to 2.9% in November from 3.0% in October, and the core rate, which excludes volatile food prices, held steady at 3.0% during the same period.  

The yield on the 10-year Japanese government bond inched higher by 3.0 basis points to 2.0%, reaching the highest level since May 2026. 

Japan Indexes and Stocks 

Benchmark indexes advanced in Tokyo trading on Friday, supported by the BoJ's rate action and higher closing in overnight trading in New York. 

The Nikkei 225 Stock Average increased 1.1% to 49,533.07, and the broader Topix inched higher 0.9% to 3,385.83. 

After a week of volatile trading, the Nikkei 225 Stock Average closed down 1.5%, and the Topix fell 1.2%. 

Softbank Group Holding advanced 6.6% to ¥17,150.0, Tokyo Electron Ltd. increased 3% to ¥31,220.0, and Advantest Corp. added 2.2% to ¥19,235.0. 

Mitsubishi UFJ Financial Group increased 1.5% to ¥2,465.50, Sumitomo Mitsui Financial Group advanced 2.3% to ¥5,025.0, and Mizuho Financial Group gained 1.1% to ¥5,665.0. 

BoJ Delivered Widely Anticipated Rate Increase and Signaled Readiness for Future Hikes

Akira Ito
19 Dec, 2025
Tokyo

Japan's indexes advanced after the Bank of Japan delivered a widely anticipated rate hike, and investors reviewed the latest inflation update. 

The Nikkei 225 Stock Average gained 1.1%, the broader Topix increased 0.9%, and the yen approached the 156 mark against the U.S. dollar. 

The Bank of Japan increased its key short-term interest rate by 25 basis points to 0.75%, matching the market expectations. 

The central bank raised rates to the highest level in 30 years after inflation stayed above the policymakers' target rate of 2% for the 44th consecutive month in November. 

The central bank signaled that future rate hikes are likely if its estimate of wage hikes and inflation materializes, confirming market expectations of as many as two rate hikes in 2026.  

Japan's central bank ended its ultra-loose monetary policy last year and raised rates two times to 0.5% as the surging food prices drove the overall inflation rate above the 2% level for nearly four years. 

The Bank of Japan, in its post-meeting statement, reiterated its inflation outlook to converge to 2% before the end of fiscal year 2027. 

The overall inflation eased slightly to 2.9% in November from 3.0% in October, and the core rate, which excludes volatile food prices, held steady at 3.0% during the same period.  

The yield on the 10-year Japanese government bond inched higher by 3.0 basis points to 2.0%, reaching the highest level since May 2026. 

Japan Indexes and Stocks 

Benchmark indexes advanced in Tokyo trading on Friday, supported by the BoJ's rate action and higher closing in overnight trading in New York. 

The Nikkei 225 Stock Average increased 1.1% to 49,533.07, and the broader Topix inched higher 0.9% to 3,385.83. 

After a week of volatile trading, the Nikkei 225 Stock Average closed down 1.5%, and the Topix fell 1.2%. 

Softbank Group Holding advanced 6.6% to ¥17,150.0, Tokyo Electron Ltd. increased 3% to ¥31,220.0, and Advantest Corp. added 2.2% to ¥19,235.0. 

Mitsubishi UFJ Financial Group increased 1.5% to ¥2,465.50, Sumitomo Mitsui Financial Group advanced 2.3% to ¥5,025.0, and Mizuho Financial Group gained 1.1% to ¥5,665.0. 

China Indexes Extended 3-Day Rally Tracking Wall Street Gains

Li Chen
19 Dec, 2025
Hong Kong

Friday's rebound extended the three-day market rally as investors added positions to high-flying technology stocks.  

The Hang Seng Index gained 0.7%, and the mainland-focused CSI 300 index gained 0.6%. 

Undeterred investors, domestic and foreign, stepped up to increase stock exposure amid a risk-on market sentiment, following a rally in overnight trading in New York. 

In cautious trading, investors bid up stocks in technology, pharmaceutical, and specialty retail sectors. 

U.S. inflation cooled to 2.7% in November from 3.0% in September, the U.S. Bureau of Labor Statistics reported Thursday. 

The overall inflation edged lower, and food prices rose 2.6%, energy prices advanced 4.2%, shelter costs increased 3%, and medical care costs advanced 2.9%. 

However, the prices for new vehicles rose 0.6%, and used vehicle prices advanced 3.6%. 

The statistical agency canceled the October inflation report after the 43-day federal government shutdown prevented the BLS from collecting key data. 

The lower-than-expected inflation in November supported the advance on Wall Street, powering a rally in Asian markets on Friday.

China Indexes and Stocks 

The Hang Seng Index increased 0.7% to 25,663.41, and the mainland-focused CSI 300 index edged up 0.6% to 4,580.64. 

The Hang Seng Index decreased 0.2%, and the CSI 300 index advanced 0.7% after a week of volatile trading. 

Alibaba Group advanced 0.8% to HK $145.20, Tencent Holdings gained 1.1% to HK $612.0, and Baidu added 1.1% to HK $118.90. 

CiDi dropped 5% to HK $241.0, and the truck maker priced its initial public offering at HK $263.0 per share. 

The autonomous commercial vehicle maker sold 5.4 million shares and raised HK$1.4 billion in gross proceeds. 

Xizang Zhihui Mining soared 110% to HK $9.52, and the zinc mining company priced its initial public offering at HK $4.51 per share. 

The zinc, lead, and copper mining company sold 121.9 million shares and raised gross proceeds of HK $550.0 million. 

China Indexes Extended 3-Day Rally Tracking Wall Street Gains

Li Chen
19 Dec, 2025
Hong Kong

Friday's rebound extended the three-day market rally as investors added positions to high-flying technology stocks.  

The Hang Seng Index gained 0.7%, and the mainland-focused CSI 300 index gained 0.6%. 

Undeterred investors, domestic and foreign, stepped up to increase stock exposure amid a risk-on market sentiment, following a rally in overnight trading in New York. 

In cautious trading, investors bid up stocks in technology, pharmaceutical, and specialty retail sectors. 

U.S. inflation cooled to 2.7% in November from 3.0% in September, the U.S. Bureau of Labor Statistics reported Thursday. 

The overall inflation edged lower, and food prices rose 2.6%, energy prices advanced 4.2%, shelter costs increased 3%, and medical care costs advanced 2.9%. 

However, the prices for new vehicles rose 0.6%, and used vehicle prices advanced 3.6%. 

The statistical agency canceled the October inflation report after the 43-day federal government shutdown prevented the BLS from collecting key data. 

The lower-than-expected inflation in November supported the advance on Wall Street, powering a rally in Asian markets on Friday.

China Indexes and Stocks 

The Hang Seng Index increased 0.7% to 25,663.41, and the mainland-focused CSI 300 index edged up 0.6% to 4,580.64. 

The Hang Seng Index decreased 0.2%, and the CSI 300 index advanced 0.7% after a week of volatile trading. 

Alibaba Group advanced 0.8% to HK $145.20, Tencent Holdings gained 1.1% to HK $612.0, and Baidu added 1.1% to HK $118.90. 

CiDi dropped 5% to HK $241.0, and the truck maker priced its initial public offering at HK $263.0 per share. 

The autonomous commercial vehicle maker sold 5.4 million shares and raised HK$1.4 billion in gross proceeds. 

Xizang Zhihui Mining soared 110% to HK $9.52, and the zinc mining company priced its initial public offering at HK $4.51 per share. 

The zinc, lead, and copper mining company sold 121.9 million shares and raised gross proceeds of HK $550.0 million. 

U.S. Movers: MillerKnoll, Micron Technology

Scott Peters
18 Dec, 2025
New York City

Micron Technology soared 10.3% to $248.90 after the advanced chipmaker estimated a surge in revenue in the current quarter and delivered fiscal first-quarter results that surpassed market expectations. 

Revenue in the fiscal first quarter ending in November increased to $13.6 billion from $8.7 billion, net income soared to $5.2 billion from $1.9 billion, and diluted earnings per share rose to $4.60 from $1.67 a year ago. 

The company estimated fiscal second quarter revenue of $18.7 billion with a $400 million band, gross margin between 66% and 68%, and diluted earnings per share to range between $7.99 and $8.39. 

MillerKnoll Inc. surged 8.2% to $18.96 after the office furniture maker reported its fiscal second-quarter results and strong forecast for the current quarter. 

Revenue in the fiscal second quarter ending in November decreased 1.6% to $955.2 million from $970.4 million, net income decreased to $25.2 million from $34.1 million, and diluted earnings per share fell to 35 cents from 49 cents a year ago. 

The company estimated fiscal third quarter sales to range between $923 million and $963 million, gross margin between 37.9% and 38.9%, and adjusted diluted earnings per share between 42 cents and 48 cents.  

U.S. Movers: MillerKnoll, Micron Technology

Scott Peters
18 Dec, 2025
New York City

Micron Technology soared 10.3% to $248.90 after the advanced chipmaker estimated a surge in revenue in the current quarter and delivered fiscal first-quarter results that surpassed market expectations. 

Revenue in the fiscal first quarter ending in November increased to $13.6 billion from $8.7 billion, net income soared to $5.2 billion from $1.9 billion, and diluted earnings per share rose to $4.60 from $1.67 a year ago. 

The company estimated fiscal second quarter revenue of $18.7 billion with a $400 million band, gross margin between 66% and 68%, and diluted earnings per share to range between $7.99 and $8.39. 

MillerKnoll Inc. surged 8.2% to $18.96 after the office furniture maker reported its fiscal second-quarter results and strong forecast for the current quarter. 

Revenue n the fiscal second quarter ending in November decreased 1.6% to $955.2 million from $970.4 million, net income decreased to $25.2 million from $34.1 million, and diluted earnings per share fell to 35 cents from 49 cents a year ago. 

The company estimated fiscal third quarter sales to range between $923 million and $963 million, gross margin between 37.9% and 38.9%, and adjusted diluted earnings per share between 42 cents and 48 cents.  

U.S. Inflation In Focus Amid Delayed Reports and Sky-High Goods Tariffs

Barry Adams
18 Dec, 2025
New York City

U.S. stocks lacked direction in early trading as investors avoided increasing exposure to stocks amid macroeconomic uncertainty and concerns about AI infrastructure investment. 

The S&P 500 index inched up 0.7%, and the tech-focused Nasdaq Composite edged up 1.3%. 

Stocks on Wall Street are struggling to halt broader market decline over the last five trading sessions amid rising concerns about the durability of elevated levels of investment in AI technology infrastructure. 

The recent market weakness was exacerbated in Wednesday's trading after Oracle's primary investor withdrew its support from the $10 billion data center in Michigan. 

The Blue Owl Capital's withdrawal from Oracle's deal sent shudders through the AI landscape and dragged down stocks of AMD, Broadcom, Cisco, Nvidia, and other leading tech players. 

Investors positioned for the release of the consumer price index for November, as prices rose at a faster rate than the Fed's target rate of 2%. 

The consumer price index advanced by 2.7%, and the core rate, which excludes volatile and food prices, rose 2.6%, according to the preliminary estimate released by the U.S. Bureau of Labor Statistics.  

November's CPI report is the first inflation report from the U.S. Bureau of Labor Statistics since the ending of the government shutdown and is likely to confirm resurgent goods inflation driven by steep tariffs implemented by the Trump administration. 

The BLS canceled the October inflation report as the agency was unable to retroactively collect necessary data due to the federal government shutdown.

U.S. Movers 

Micron Technology soared 10.3% to $248.90 after the advanced chipmaker estimated a surge in revenue in the current quarter and delivered fiscal first-quarter results that surpassed market expectations. 

MillerKnoll Inc. surged 8.2% to $18.96 after the office furniture maker reported its fiscal second-quarter results and strong forecast for the current quarter. 

U.S. Inflation In Focus Amid Delayed Reports and Sky-High Goods Tariffs

Barry Adams
18 Dec, 2025
New York City

U.S. stocks lacked direction in early trading as investors avoided increasing exposure to stocks amid macroeconomic uncertainty and concerns about AI infrastructure investment. 

The S&P 500 index inched up 0.01%, and the tech-focused Nasdaq Composite edged down 0.3%. 

Stocks on Wall Street are struggling to halt broader market decline over the last five trading sessions amid rising concerns about the durability of elevated levels of investment in AI technology infrastructure. 

The recent market weakness was exacerbated in Wednesday's trading after Oracle's primary investor withdrew its support from the $10 billion data center in Michigan. 

The Blue Owl Capital's withdrawal from Oracle's deal sent shudders through the AI landscape and dragged down stocks of AMD, Broadcom, Cisco, Nvidia, and other leading tech players. 

Investors positioned for the release of the consumer price index for November, as prices rose at a faster rate than the Fed's target rate of 2%. 

The consumer price index advanced 3.1%, and the core rate, which excludes volatile and food prices, rose 3.0%, according to an estimate provided by Ticker.com research. 

November's CPI report will be the first inflation report from the U.S. Bureau of Labor Statistics since the ending of the government shutdown and is likely to confirm resurgent goods inflation driven by steep tariffs implemented by the Trump administration. 

The BLS canceled the October inflation report as the agency was unable to retroactively collect necessary data due to the federal government shutdown.

U.S. Movers 

Micron Technology soared 10.3% to $248.90 after the advanced chipmaker estimated a surge in revenue in the current quarter and delivered fiscal first-quarter results that surpassed market expectations. 

MillerKnoll Inc. surged 8.2% to $18.96 after the office furniture maker reported its fiscal second-quarter results and strong forecast for the current quarter. 

Global Tech Sell-Off Extended Weekly Losses In Tokyo

Akira Ito
18 Dec, 2025
Tokyo

Weakening market sentiment and rate-decision anxieties kept market indexes down in Tokyo for the fourth consecutive session. 

The Nikkei 225 Stock Average decreased 1.1%, the broader Topix declined 0.5%, and the yen held near the 155 level ahead of rate decisions. 

The Bank of Japan is widely anticipated to raise its benchmark rate by 25 basis points to 0.75%, and investors are awaiting the central bank's rate outlook for 2026. 

Japan's policymakers are struggling to contain the steep decline in yen while supporting the broader economic activities amid an uncertain outlook for exports. 

The European Central Bank and the Bank of England are expected to hold steady their benchmark rates amid weakening inflation and an anemic economic growth outlook. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average declined 1.1% to 48,971.47, and the broader Topix fell 0.5% to 3,353.78. 

In Tokyo, tech stocks led the broader market sell-off following losses in overnight trading in New York. 

The latest tech-driven sell-off was exacerbated by a report that Oracle's primary investor in its data center investments decided to pull out from a $10 billion project in Michigan. 

Oracle disputed the reports and said the center project is on track, and the news was first reported by the Financial Times.  

The jittery investors avoided additional exposure to high-flying tech stocks, dampening tech stocks across the globe.  

Softbank Group decreased 3.3% to ¥16,205.0, Tokyo Electron declined 3% to ¥30,370.0, and Advantest Corp. fell 3.6% to ¥18,750.0. 

Defense stocks remained in focus as Japan's lawmakers prepare to loosen restrictions surrounding the sale of arms and military technology to international buyers. 

IHI Corp. declined 2.6% to ¥2,739.0, Fujikura Ltd. decreased 3.5% to ¥15,950.0, and Kawasaki Heavy Industries dropped 4.6% to ¥10,990.0.