Market Update
Japan's Indexes Struggled to Maintain Momentum Amid Weakness In Tech Stocks and Inflation Worries
Akira Ito
28 May, 2026
Tokyo
Japan's indexes scaled back on Wednesday from record highs set on Tuesday, as investors booked profit in technology stocks.
The Nikkei 225 Stock Average decreased 1.3%, and the broader TOPIX fell 1.4%.
The pullback in AI-related and semiconductor equipment makers dragged down broader market sentiment, and uncertainty linked to the reopening of the Strait of Hormuz weighed.
Investor sentiment deteriorated as investors digested comments from Bank of Japan Governor Kazuo Ueda.
Earlier in the week, Governor Ueda warned about mounting inflationary pressures driven by higher energy prices and tighter supply conditions for energy products.
However, the central bank chief stopped short of indicating if the policy committee is ready to raise rates at the next meeting.
Benchmark indexes in Hong Kong, South Korea, and India dropped between 1% and 3%, and crude oil prices rebounded following the resumption of hostilities in the Middle East.
The Brent crude oil price rose 3.6% to $97.63 a barrel as negotiators between the U.S. and Iran remained deadlocked over several key issues, including disruption of commercial shipment through the Strait of Hormuz.
In overnight trading in New York, broader benchmarks hovered near record highs, as investor sentiment remained positive and AI-linked stocks continued to scale new highs.
Computer memory chipmakers, advanced semiconductor designers, and data networking equipment makers dominated gainers in trading.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 1.3% to 64,133.42, and the broader TOPIX dropped 1.4% to 3,866.10.
SoftBank Group decreased 5.3%, Tokyo Electron decreased 1.5%, Advantest Corp. fell 3.7%, and Lasertec Corp. plunged 5.4%.
Tech Pullback and Hormuz Uncertainties Weighed on China's Indexes
Li Chen
28 May, 2026
Hong Kong
China's indexes pulled back amid a lack of corporate news, and investors reviewed the latest developments in the Middle East.
The Hang Seng Index decreased 2.2%, and the mainland-focused CSI 300 Index declined 0.5%, led by a sharp sell-off in AI-related stocks.
The weakness in semiconductor and AI-related stocks weighed on market sentiment amid worries about elevated valuations and the sustainability of demand from AI hyperscalers.
Benchmark indexes in Japan, South Korea, and India dropped between 1% and 3%, and crude oil prices rebounded following the resumption of hostilities in the Middle East.
The U.S. conducted additional strikes in Iran, despite the ongoing peace talks between the two nations.
The uncertainty surrounding the U.S.-Iran peace negotiations weighed on the market sentiment in Asia, and crude oil prices soared 4%.
The Brent crude oil price rose 3.9% to $97.78 a barrel as negotiators between the U.S. and Iran remained deadlocked over several key issues, including disruption of commercial shipment through the Strait of Hormuz.
China Indexes and Stocks
The Hang Seng Index decreased 2.2% to 24,750.60, and the mainland-focused CSI 300 Index fell 0.5% to 4,881.17.
Hygon Information Technology decreased 2.5%, Cambricon Technologies Corp. increased 0.4%, and NAURA Technology Group advanced 2.9%.
Alibaba Group declined 3%, Tencent Holdings plunged 3%, and JD.com fell 0.5%.
Tech Pullback and Hormuz Uncertainties Weighed on China's Indexes
Li Chen
28 May, 2026
Hong Kong
China's indexes pulled back amid a lack of corporate news, and investors reviewed the latest developments in the Middle East.
The Hang Seng Index decreased 2.2%, and the mainland-focused CSI 300 Index declined 0.5%, led by a sharp sell-off in AI-related stocks.
The weakness in semiconductor and AI-related stocks weighed on market sentiment amid worries about elevated valuations and the sustainability of demand from AI hyperscalers.
Benchmark indexes in Japan, South Korea, and India dropped between 1% and 3%, and crude oil prices rebounded following the resumption of hostilities in the Middle East.
The U.S. conducted additional strikes in Iran, despite the ongoing peace talks between the two nations.
The uncertainty surrounding the U.S.-Iran peace negotiations weighed on the market sentiment in Asia, and crude oil prices soared 4%.
The Brent crude oil price rose 3.9% to $97.78 a barrel as negotiators between the U.S. and Iran remained deadlocked over several key issues, including disruption of commercial shipment through the Strait of Hormuz.
China Indexes and Stocks
The Hang Seng Index decreased 2.2% to 24,750.60, and the mainland-focused CSI 300 Index fell 0.5% to 4,881.17.
Hygon Information Technology decreased 2.5%, Cambricon Technologies Corp. increased 0.4%, and NAURA Technology Group advanced 2.9%.
Alibaba Group declined 3%, Tencent Holdings plunged 3%, and JD.com fell 0.5%.
U.S. Benchmark Indexes Reached New Record Highs, AI Bull Market Lifted Memory Chip Makers
Barry Adams
27 May, 2026
New York City
Wall Street indexes advanced on Wednesday and extended the market rally to the ninth consecutive week amid optimism about AI trading.
The S&P 500 index increased 0.3%, and the tech-heavy Nasdaq Composite advanced 0.7% following the rise in computer memory chip markers.
The two widely followed benchmark indexes extended the market rally to the ninth week, as investors shifted their focus to critical players benefiting from the current AI bull market.
Crude oil extended this week's decline for the second consecutive session and dropped by 4% to $90.47 a barrel amid speculation that the U.S. and Iran are inching closer to an agreement, despite the renewed U.S. attacks.
In metals trading, gold, silver, and copper fell, tracking lower prices in the energy markets.
Gold decreased 1.4% to $4,434.69 an ounce, silver declined 3.7% to $74.17 an ounce, and copper fell 0.7% to $6.40 a pound.
U.S. Movers
Dick's Sporting Goods decreased 3.9% to $224.0 after the company's first-quarter earnings missed market expectations.
The specialty retailer posted adjusted earnings per share of $2.90 on revenue of $5.2 billion, and the company reaffirmed its full-year adjusted earnings outlook.
Bath & Body Works jumped 11% to $19.60 after the company reported its first-quarter results.
The retailer estimated second-quarter earnings per share between 20 cents and 25 cents, surpassing market expectations of 19 cents.
Zscaler plunged 24.5% to $138.55 after the cloud security company's current quarter earnings per share fell short of market expectations.
Revenue in the fiscal third quarter rose to $850 million, and adjusted earnings per share increased to $1.08, surpassing market estimates.
However, the cloud security company guided current quarter revenue between $875 million and $878 million, lower than the market expectations of $879 million.
Box Inc. dropped 2.2% to $25.06 after the company reported its latest quarterly results and issued a softer-than-expected full-year adjusted earnings outlook of $1.56 per share.
U.S. Benchmark Indexes Reached New Record Highs, AI Bull Market Lifted Memory Chip Makers
Barry Adams
27 May, 2026
New York City
Wall Street indexes advanced on Wednesday and extended the market rally to the ninth consecutive week amid optimism about AI trading.
The S&P 500 index increased 0.3%, and the tech-heavy Nasdaq Composite advanced 0.7% following the rise in computer memory chip markers.
The two widely followed benchmark indexes extended the market rally to the ninth week, as investors shifted their focus to critical players benefiting from the current AI bull market.
Crude oil extended this week's decline for the second consecutive session and dropped by 4% to $90.47 a barrel amid speculation that the U.S. and Iran are inching closer to an agreement, despite the renewed U.S. attacks.
In metals trading, gold, silver, and copper fell, tracking lower prices in the energy markets.
Gold decreased 1.4% to $4,434.69 an ounce, silver declined 3.7% to $74.17 an ounce, and copper fell 0.7% to $6.40 a pound.
U.S. Movers
Dick's Sporting Goods decreased 3.9% to $224.0 after the company's first-quarter earnings missed market expectations.
The specialty retailer posted adjusted earnings per share of $2.90 on revenue of $5.2 billion, and the company reaffirmed its full-year adjusted earnings outlook.
Bath & Body Works jumped 11% to $19.60 after the company reported its first-quarter results.
The retailer estimated second-quarter earnings per share between 20 cents and 25 cents, surpassing market expectations of 19 cents.
Zscaler plunged 24.5% to $138.55 after the cloud security company's current quarter earnings per share fell short of market expectations.
Revenue in the fiscal third quarter rose to $850 million, and adjusted earnings per share increased to $1.08, surpassing market estimates.
However, the cloud security company guided current quarter revenue between $875 million and $878 million, lower than the market expectations of $879 million.
Box Inc. dropped 2.2% to $25.06 after the company reported its latest quarterly results and issued a softer-than-expected full-year adjusted earnings outlook of $1.56 per share.
Japan's Indexes Hit New Intraday Highs Amid AI Enthusiasm
Akira Ito
27 May, 2026
Tokyo
Japan's benchmark indexes scaled new intraday highs, tracking gains in overnight trading in New York.
The Nikkei 225 Stock Average jumped as much as 1.3%, and the broader TOPIX advanced 0.4% before settling at lower levels towards the end of the session.
Broader market averages traded around the flatline, and chip stocks extended two-month gains following advances in overnight trading in New York.
The AI investment boom in the U.S. and Europe positions Asian chipmakers as key beneficiaries, including Japan's semiconductor equipment makers.
The U.S. companies alone have announced a commitment of at least $700 billion for AI infrastructure investment. over the next three years.
AI- and semiconductor-linked stocks led the gainers in Wednesday's trading, and investor sentiment was further boosted by cautious optimism that the U.S. and Iran could still reach a peace agreement despite renewed hostilities.
Moreover, the yield on the 10-year Japanese government bonds eased to 2.71%, as markets scaled back near-term interest rate hikes from the Bank of Japan.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased a fraction to 64,999.41, and the broader TOPIX decreased 0.5% to 64,999.41.
Tokyo Electron increased 2.5%, Advantest Corp. jumped 4%, Kioxia Holdings decreased 4%, and SoftBank Group dropped 7%.
Nippon Yusen fell 0.5%, Mitsui OSK Lines decreased 1.8%, and Kawasaki Kisen Kaisha declined 2.7%.
Japan's Indexes Hit New Intraday Highs Amid AI Enthusiasm
Akira Ito
27 May, 2026
Tokyo
Japan's benchmark indexes scaled new intraday highs, tracking gains in overnight trading in New York.
The Nikkei 225 Stock Average jumped as much as 1.3%, and the broader TOPIX advanced 0.4% before settling at lower levels towards the end of the session.
Broader market averages traded around the flatline, and chip stocks extended two-month gains following advances in overnight trading in New York.
The AI investment boom in the U.S. and Europe positions Asian chipmakers as key beneficiaries, including Japan's semiconductor equipment makers.
The U.S. companies alone have announced a commitment of at least $700 billion for AI infrastructure investment. over the next three years.
AI- and semiconductor-linked stocks led the gainers in Wednesday's trading, and investor sentiment was further boosted by cautious optimism that the U.S. and Iran could still reach a peace agreement despite renewed hostilities.
Moreover, the yield on the 10-year Japanese government bonds eased to 2.71%, as markets scaled back near-term interest rate hikes from the Bank of Japan.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased a fraction to 64,999.41, and the broader TOPIX decreased 0.5% to 64,999.41.
Tokyo Electron increased 2.5%, Advantest Corp. jumped 4%, Kioxia Holdings decreased 4%, and SoftBank Group dropped 7%.
Nippon Yusen fell 0.5%, Mitsui OSK Lines decreased 1.8%, and Kawasaki Kisen Kaisha declined 2.7%.
China's Industrial profit Growth Accelerated Despite Middle East Tensions
Li Chen
27 May, 2026
Hong Kong
China's benchmark indexes hovered near recent levels, and investors bid up chip stocks.
The Hang Seng Index declined 0.8%, the mainland-focused CSI 300 Index decreased 0.5%, and the rising hostilities in the Middle East weighed on the market sentiment.
Broader market averages traded around the flatline, and chip stocks extended two-month gains following advances in overnight trading in New York.
The AI investment boom in the U.S. and Europe positions Asian chipmakers as key beneficiaries. The U.S. companies alone have announced a commitment of at least $700 billion for AI infrastructure investment. over the next three years.
Despite the U.S. conducting airstrikes targeting locations in Iran, hopes of easing Middle East tensions further boosted investor sentiment.
Domestically, China's industrial profit accelerated in the first four months to April, as the boom in AI infrastructure investment boosted demand for steel, construction, electrical equipment, and advanced chips.
Industrial profit between January and April 2026 increased 18.2% compared to a 15.5% rise in the first quarter from a year ago, respectively.
State-owned enterprises posted a 17.1% rise in profit to 827.2 billion yuan, joint-stock companies reported a 24% increase in profit to 1.8 trillion yuan, and private firms reported a 23.7% rise in profit to 651.1 billion yuan, according to the National Bureau of Statistics.
The rise in the industrial profit confirmed the resilience of the industrial sector despite the persistent geopolitical uncertainties linked to the tensions in the Middle East.
In April industrial profit soared 24.7%, the largest monthly increase since November 2023, after a 15.8% rise in March, the statistical bureau confirmed.
China Indexes and Stocks
The Hang Seng Index decreased 0.8% to 25,385.34, and the mainland-focused CSI 300 Index fell 0.5% to 4,922.16.
NAURA Technology Group declined 1.6%, SMIC advanced 0.2%, and Hua Hong Semiconductor rose 4.5%.
Alibaba Group, Tencent Holding, and Meituan dropped between 1% and 3%.
China's Industrial profit Growth Accelerated Despite Middle East Tensions
Li Chen
27 May, 2026
Hong Kong
China's benchmark indexes hovered near recent levels, and investors bid up chip stocks.
The Hang Seng Index declined 0.8%, the mainland-focused CSI 300 Index decreased 0.5%, and the rising hostilities in the Middle East weighed on the market sentiment.
Broader market averages traded around the flatline, and chip stocks extended two-month gains following advances in overnight trading in New York.
The AI investment boom in the U.S. and Europe positions Asian chipmakers as key beneficiaries. The U.S. companies alone have announced a commitment of at least $700 billion for AI infrastructure investment. over the next three years.
Despite the U.S. conducting airstrikes targeting locations in Iran, hopes of easing Middle East tensions further boosted investor sentiment.
Domestically, China's industrial profit accelerated in the first four months to April, as the boom in AI infrastructure investment boosted demand for steel, construction, electrical equipment, and advanced chips.
Industrial profit between January and April 2026 increased 18.2% compared to a 15.5% rise in the first quarter from a year ago, respectively.
State-owned enterprises posted a 17.1% rise in profit to 827.2 billion yuan, joint-stock companies reported a 24% increase in profit to 1.8 trillion yuan, and private firms reported a 23.7% rise in profit to 651.1 billion yuan, according to the National Bureau of Statistics.
The rise in the industrial profit confirmed the resilience of the industrial sector despite the persistent geopolitical uncertainties linked to the tensions in the Middle East.
In April industrial profit soared 24.7%, the largest monthly increase since November 2023, after a 15.8% rise in March, the statistical bureau confirmed.
China Indexes and Stocks
The Hang Seng Index decreased 0.8% to 25,385.34, and the mainland-focused CSI 300 Index fell 0.5% to 4,922.16.
NAURA Technology Group declined 1.6%, SMIC advanced 0.2%, and Hua Hong Semiconductor rose 4.5%.
Alibaba Group, Tencent Holding, and Meituan dropped between 1% and 3%.
U.S. Rally Enters Ninth Week with Strong Gains and Crude Oil Extends Recent Decline
Barry Adams
26 May, 2026
New York City
Wall Street indexes in New York advanced in Tuesday's trading after investors returned from a three-day weekend.
The S&P 500 Index gained 0.6%, and the tech-focused Nasdaq Composite advanced 0.9% following a sharp decrease in global crude oil prices.
The West Texas Intermediate crude oil price decreased 4.9% to $91.83 a barrel, and the international Brent price declined 5.1% to $98.29 a barrel.
Oil prices remained volatile amid mixed and often conflicting statements from the U.S. president, and investors speculated that the U.S.-Iran peace process may move forward.
The U.S. military conducted several airstrikes targeting locations in southern Iran and billed the latest string of attacks as "defensive."
Iran's military vowed to carry out retaliatory attacks targeting the U.S. military bases and Israel's military installations.
In international trading, benchmark indexes in China and Japan eased amid worries of a prolonged closure of the Strait of Hormuz, as the oil-dependent economies in Asia rely for most of their energy products on the narrow passageway.
Benchmark indexes in Shanghai and Mumbai declined between 0.2% and 0.6%, but the rise in the AI-linked stocks lifted market indexes in Tokyo by 0.6% and Seoul by 2.5%.
The yield on 10-year U.S. Treasuries edged lower to 4.49% amid growing speculation that the elevated energy prices over the last two months are likely to keep the Federal Reserve's policymakers from lowering rates in the immediate future.
At the start of 2026, the Fed signaled as many as two rate cuts of 25 basis points by the year's end; however, the U.S.-Israel war on Iran has reignited inflationary forces, dimming the prospect of any rate cut in the second half of the year.
Moreover, small businesses are struggling under the unpredictable tariff regime, and consumers are battling high fuel, transportation, and food prices, adding another layer of worry for policymakers.
U.S. Movers
Ferrari N.V. dropped 3% to $337.47 after the luxury vehicle maker unveiled its first electric vehicle prices around $640,000.
The Italian company's stock dropped as much as 6.5% in Milan's trading as investors worried that the company may be moving away from the combustion engine-driven models, which are generally preferred by the sports enthusiast.
U.S. Indexes Advanced 1% and Crude Oil Plunged 5% On Hormuz Hopes
Barry Adams
26 May, 2026
New York City
Wall Street indexes in New York advanced in Tuesday's trading after investors returned from a three-day weekend.
The S&P 500 Index gained 0.6%, and the tech-focused Nasdaq Composite advanced 0.9% following a sharp decrease in global crude oil prices.
The West Texas Intermediate crude oil price decreased 4.9% to $91.83 a barrel, and the international Brent price declined 5.1% to $98.29 a barrel.
Oil prices remained volatile amid mixed and often conflicting statements from the U.S. president, and investors speculated that the U.S.-Iran peace process may move forward.
The U.S. military conducted several airstrikes targeting locations in southern Iran and billed the latest string of attacks as "defensive."
Iran's military vowed to carry out retaliatory attacks targeting the U.S. military bases and Israel's military installations.
In international trading, benchmark indexes in China and Japan eased amid worries of a prolonged closure of the Strait of Hormuz, as the oil-dependent economies in Asia rely for most of their energy products on the narrow passageway.
Benchmark indexes in Shanghai and Mumbai declined between 0.2% and 0.6%, but the rise in the AI-linked stocks lifted market indexes in Tokyo by 0.6% and Seoul by 2.5%.
The yield on 10-year U.S. Treasuries edged lower to 4.49% amid growing speculation that the elevated energy prices over the last two months are likely to keep the Federal Reserve's policymakers from lowering rates in the immediate future.
At the start of 2026, the Fed signaled as many as two rate cuts of 25 basis points by the year's end; however, the U.S.-Israel war on Iran has reignited inflationary forces, dimming the prospect of any rate cut in the second half of the year.
Moreover, small businesses are struggling under the unpredictable tariff regime, and consumers are battling high fuel, transportation, and food prices, adding another layer of worry for policymakers.
U.S. Movers
Ferrari N.V. dropped 3% to $337.47 after the luxury vehicle maker unveiled its first electric vehicle prices around $640,000.
The Italian company's stock dropped as much as 6.5% in Milan's trading as investors worried that the company may be moving away from the combustion engine-driven models, which are generally preferred by the sports enthusiast.
U.S. Accelerates Oil Diplomacy in Asia, Targeting Japan, S. Korea, and Philippines
Akira Ito
26 May, 2026
Tokyo
Benchmark indexes in Japan edged lower from record highs amid the renewed violence in the Middle East.
The Nikkei 225 Stock Average decreased 0.1%, the broader TOPIX declined 0.01%, and the yen hovered near 159 against the U.S. dollar.
Traders reviewed the ongoing tensions in the Middle East after the U.S. renewed attacks on targets in southern Iran despite the two weeks of ceasefire.
The Brent crude oil prices rose 1% to $98.35 a barrel following the latest US attacks, undermining the prospects of a near-term peace deal between the US and Iran.
Crude oil prices regained their upward momentum, and the energy product shipments through the Strait of Hormuz remained disrupted for the eighth week under the dual blockade.
Japan is likely to run out of its crude oil reserves by the end of August if the government fails to secure additional supplies from the U.S.
The Trump administration is pushing oil exports to its allies in Asia, including Japan, South Korea, and the Philippines.
Japan is expected to source as much as 70% of its LNG imports from the U.S., switching from shipments from Gulf nations in the Middle East.
The U.S. Secretary of Foreign Affairs, Marco Rubio, visited India this week in an effort to shore up the sale of U.S. and Venezuelan crude oil.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.1% to 65,084.72, and the broader TOPIX edged up 0.01% to 3,944.70.
Softbank Group Corp. soared 11% to ¥7,804.00, and the company extended its 4-day gain to over 50% on reports that two of its portfolio companies, Open AI and SB Energy, are closer to filing initial public offerings in the U.S.
Kioxa Holdings, Fujikura Holdings, Tokyo Electron, and Advantest Corp. decreased between 4% and 6%.
Nippon Yusen declined 1.3%, Mitsui O.S.K. Lines fell 0.3%, and the Kawasaki Kisen Kaisha rose 1.0%.
U.S. Accelerates Oil Diplomacy In Asia Targeting Japan S. Korea and Philippines
Akira Ito
26 May, 2026
Tokyo
Benchmark indexes in Japan edged lower from record highs amid the renewed violence in the Middle East.
The Nikkei 225 Stock Average decreased 0.1%, the broader TOPIX declined 0.01%, and the yen hovered near 159 against the U.S. dollar.
Traders reviewed the ongoing tensions in the Middle East after the U.S. renewed attacks on targets in southern Iran despite the two weeks of ceasefire.
The Brent crude oil prices rose 1% to $98.35 a barrel following the latest US attacks, undermining the prospects of a near-term peace deal between the US and Iran.
Crude oil prices regained the upward momentum as the shipments through the Strait of Hormuz remained disrupted for the eighth week under the dual blockade.
Japan is likely to run out of its crude oil reserves by the end of August if the government fails to secure additional supplies from the U.S.
The Trump administration is pushing oil exports to its allies in Asia, including Japan, South Korea, and the Philippines.
Japan is expected to source as much as 70% of its LNG imports from the U.S., switching from shipments from Gulf nations in the Middle East.
The U.S. Secretary of Foreign Affairs, Marco Rubio, visited India this week in an effort to shore up the sale of U.S. and Venezuelan crude oil.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.1% to 65,084.72, and the broader TOPIX edged up 0.01% to 3,944.70.
Softbank Group Corp. soared 11% to ¥7,804.00, and the company extended its 4-day gain to over 50% on reports that two of its portfolio companies, Open AI and SB Energy, are closer to filing initial public offerings in the U.S.
Kioxa Holdings, Fujikura Holdings, Tokyo Electron, and Advantest Corp. decreased between 4% and 6%.
Nippon Yusen declined 1.3%, Mitsui O.S.K. Lines fell 0.3%, and the Kawasaki Kisen Kaisha rose 1.0%.
China's Indexes Lacked Directions After U.S. Resumed Attacks in Iran, SMIC In Focus
Li Chen
26 May, 2026
Hong Kong
Benchmark indexes in mainland China and Hong Kong struggled amid ongoing tensions in the Middle East.
The Hang Seng Index increased 0.5%, and the mainland-focused CSI 300 Index declined 0.3% after the U.S. carried out air attacks targeting locations in southern Iran.
The Brent crude oil prices rose 1% to $98.35 a barrel following the latest US attacks, undermining the prospects of a near-term peace deal between the US and Iran.
Crude oil prices regained the upward momentum as the shipments through the Strait of Hormuz remained disrupted for the eighth week under the dual blockade.
China Indexes and Stocks
The Hang Seng Index increased 0.5% to 25,742.97, and the mainland-focused CSI 300 Index decreased 0.3% to 4,907.69.
Internet platform operators led the most actively traded stocks in Hong Kong.
Alibaba Group increased 1.3% to HK $128.60, Tencent Holdings decreased 0.3% to HK $440.00, and Baidu Inc. declined 0.3% to HK $127.90.
SMIC soared 8.5% to HK $86.65 after the company won the final regulatory hurdle to acquire the remaining 49% stake in its Beijing-based foundry unit.
The company won a one-year approval to issue 547.2 million Class A shares to five shareholders of Semiconductor Manufacturing North China, or SMNC, according to the latest stock exchange filing.
The proposed transaction values the 49% stake at 40.6 billion yuan, or $6.0 billion, and the new shares will be issued at a price of 74.20 yuan per share.
China's Indexes Lacked Directions After U.S. Resumed Attacks in Iran, SMIC In Focus
Li Chen
26 May, 2026
Hong Kong
Benchmark indexes in mainland China and Hong Kong struggled amid ongoing tensions in the Middle East.
The Hang Seng Index increased 0.5%, and the mainland-focused CSI 300 Index declined 0.3% after the U.S. carried out air attacks targeting locations in southern Iran.
The Brent crude oil prices rose 1% to $98.35 a barrel following the latest US attacks, undermining the prospects of a near-term peace deal between the US and Iran.
Crude oil prices regained the upward momentum as the shipments through the Strait of Hormuz remained disrupted for the eighth week under the dual blockade.
China Indexes and Stocks
The Hang Seng Index increased 0.5% to 25,742.97, and the mainland-focused CSI 300 Index decreased 0.3% to 4,907.69.
Internet platform operators led the most actively traded stocks in Hong Kong.
Alibaba Group increased 1.3% to HK $128.60, Tencent Holdings decreased 0.3% to HK $440.00, and Baidu Inc. declined 0.3% to HK $127.90.
SMIC soared 8.5% to HK $86.65 after the company won the final regulatory hurdle to acquire the remaining 49% stake in its Beijing-based foundry unit.
The company won a one-year approval to issue 547.2 million Class A shares to five shareholders of Semiconductor Manufacturing North China, or SMNC, according to the latest stock exchange filing.
The proposed transaction values the 49% stake at 40.6 billion yuan, or $6.0 billion, and the new shares will be issued at a price of 74.20 yuan per share.