Japan Markets Plunged 3% After U.S. Imposed Stiff Tariffs On All Imports

Akira Ito
03 Apr, 2025
Tokyo

Stock market indexes plunged and dropped to six-month lows after the U.S. president announced sweeping tariffs covering all imports. 

The Nikkei 225 Stock Average and the broader TOPIX declined 3% after the U.S. imposed 24% tariffs on imports of goods from Japan and 25% on Japanese automobiles. 

The widely anticipated move is expected to hit hard shipments of Japanese automobiles, consumer goods, chemicals, and machinery to the United States. 

Manufacturing companies are scrambling to understand details of the tariffs, implementation plans, and scope of taxes. 

The U.S. announced additional tariffs of 34% on goods shipped from China, 25% from South Korea, 26% from India, and 20% from the European Union. 

All imports will be taxed at least 10% starting as early as this week; however, there are some key engineered products and minerals that may be excluded from the newly imposed taxes.

The wide-ranging tariffs are likely to be inflationary and shrink worldwide trade, as key trading partners prepare to announce their retaliatory tariffs on U.S. exports. 

China, Japan, South Korea, Vietnam, and the European Union are expected to target U.S. agricultural products and services. 

Shipments from Japan account for less than 5% of all goods imports to the United States but account for about 19% of all Japanese goods exports.

Japan Indexes and Stocks 

The Nikkei 225 Stock Average dropped 2.8% to 34,735.93, and the broader TOPIX index declined 3% to 2,568.61.  

Toyota Motor declined 5% to ¥2,518.50, Honda Motor fell 2.1% to ¥1,329.50, and Nissan Motor decreased 3.7% to ¥361.40. 

In addition, Nissan confirmed it has suspended parts of production in Mexico, as the company had previously announced. 

IHI Corp. declined 4.9% to ¥10,265.0, Kawasaki Heavy Industries dropped 7% to ¥8,393.0, and Mitsubishi Heavy Industries fell 1.9% to ¥2,517.50.

Sony Group Corp. declined 3.5% to ¥3,512.0, Canon Inc. fell 4.9% to ¥4,463.0, Olympus Corp. decreased 3.2% to ¥1,853.0, and Fanuc dropped 5.7% to ¥3,835.0.

U.S. Movers: BlackBerry, RH, UniFirst

Scott Peters
03 Apr, 2025
New York City

BlackBerry Ltd. dropped 4.7% to $3.23 after the enterprise software and services provider reported fiscal fourth quarter 2025 results.

Revenue declined to $141.7 million from $152.9 million, net loss shrank to $7.4 million from a loss of $56.2 million, and diluted loss per share narrowed to 1 cent from a loss of 10 cents a year ago.

For the full fiscal year 2025, revenue declined to $534 million from $759.1 million, net loss shrank to $79 million from a loss of $130.2 million, and diluted loss per share narrowed to 13 cents from a loss of 22 cents a year ago.

The company guided fiscal first quarter 2026 revenue to be between $107 million and $115 million, compared to $144 million a year ago, and non-GAAP basic earnings per share between 1 cent and breakeven, compared to a loss of 3 cents a year earlier.

For the full year, the software company estimated revenue to be between $504 million and $534 million and non-GAAP basic earnings per share between 8 cents and 10 cents, compared to adjusted basic income per share of 2 cents in 2025.

UniFirst Corp. edged down 4.7% to $168.90 after the uniform and protective clothing provider reported results for the fiscal second quarter of 2025.

Revenue jumped to $602.22 million from $590.71 million, net income climbed to $24.46 million from $20.46 million, and diluted income per share rose to $1.31 from $1.09 a year ago.

For the year half, revenue increased to $1.21 billion from $1.18 billion, net income jumped to $67.56 million from $62.78 million, and diluted income per share rose to $3.62 from $3.35 a year earlier.

The company guided for fiscal 2025 revenue to be between $2.42 billion and $2.43 billion, compared to $2.43 billion in 2024, and diluted earnings per share between $7.30 and $7.70, compared to $7.77 a year ago.

RH plunged 26.1% to $184.25 after the retailer of luxury home furniture and decorative products reported fourth quarter of 2024 results.

Revenue increased to $812.41 million from $738.26 million, net income jumped to $13.92 million from $11.38 million, and diluted earnings per share edged up to 69 cents from 57 cents a year ago.

For the full year, revenue climbed to $3.18 billion from $3.03 billion, net income slumped to $72.41 million from $127.56 million, and diluted earnings per share fell to $3.62 from $5.91 a year ago.

The company guided fiscal first quarter 2025 revenue growth to be between 12.5% and 7%, compared to $726.96 million a year ago, an adjusted operating margin of 6.5% to 7.0%, and an adjusted EBITDA margin of 12.5% to 13.0%.

For the full fiscal year 2025, the retailer estimated revenue growth to be between 10% and 13%, adjusted operating margin between 14% and 15%, and adjusted EBITDA margin between 20% and 21%.

The company intends to open seven design galleries, two outdoor galleries, and two new concept galleries during 2025.

“We believe post each opening we will begin to have the scale to support the necessary advertising investments to accelerate our growth in Europe,” the company said in a release to investors.

The lifestyle products retailer expects “an inflection of the business in Europe as the company begins to open in the important brand-building markets of Paris in 2025, plus London and Milan in 2026,” the company added in the statement.

U.S. Movers: BlackBerry, RH, UniFirst

Scott Peters
03 Apr, 2025
New York City

BlackBerry Ltd. dropped 4.7% to $3.23 after the enterprise software and services provider reported fiscal fourth quarter 2025 results.

Revenue declined to $141.7 million from $152.9 million, net loss shrank to $7.4 million from a loss of $56.2 million, and diluted loss per share narrowed to 1 cent from a loss of 10 cents a year ago.

For the full fiscal year 2025, revenue declined to $534 million from $759.1 million, net loss shrank to $79 million from a loss of $130.2 million, and diluted loss per share narrowed to 13 cents from a loss of 22 cents a year ago.

The company guided fiscal first quarter 2026 revenue to be between $107 million and $115 million, compared to $144 million a year ago, and non-GAAP basic earnings per share between 1 cent and breakeven, compared to a loss of 3 cents a year earlier.

For the full year, the software company estimated revenue to be between $504 million and $534 million and non-GAAP basic earnings per share between 8 cents and 10 cents, compared to adjusted basic income per share of 2 cents in 2025.

UniFirst Corp. edged down 4.7% to $168.90 after the uniform and protective clothing provider reported results for the fiscal second quarter of 2025.

Revenue jumped to $602.22 million from $590.71 million, net income climbed to $24.46 million from $20.46 million, and diluted income per share rose to $1.31 from $1.09 a year ago.

For the year half, revenue increased to $1.21 billion from $1.18 billion, net income jumped to $67.56 million from $62.78 million, and diluted income per share rose to $3.62 from $3.35 a year earlier.

The company guided for fiscal 2025 revenue to be between $2.42 billion and $2.43 billion, compared to $2.43 billion in 2024, and diluted earnings per share between $7.30 and $7.70, compared to $7.77 a year ago.

RH plunged 26.1% to $184.25 after the retailer of luxury home furniture and decorative products reported fourth quarter of 2024 results.

Revenue increased to $812.41 million from $738.26 million, net income jumped to $13.92 million from $11.38 million, and diluted earnings per share edged up to 69 cents from 57 cents a year ago.

For the full year, revenue climbed to $3.18 billion from $3.03 billion, net income slumped to $72.41 million from $127.56 million, and diluted earnings per share fell to $3.62 from $5.91 a year ago.

The company guided fiscal first quarter 2025 revenue growth to be between 12.5% and 7%, compared to $726.96 million a year ago, an adjusted operating margin of 6.5% to 7.0%, and an adjusted EBITDA margin of 12.5% to 13.0%.

For the full fiscal year 2025, the retailer estimated revenue growth to be between 10% and 13%, adjusted operating margin between 14% and 15%, and adjusted EBITDA margin between 20% and 21%.

The company intends to open seven design galleries, two outdoor galleries, and two new concept galleries during 2025.

“We believe post each opening we will begin to have the scale to support the necessary advertising investments to accelerate our growth in Europe,” the company said in a release to investors.

The lifestyle products retailer expects “an inflection of the business in Europe as the company begins to open in the important brand-building markets of Paris in 2025, plus London and Milan in 2026,” the company added in the statement.

Europe Movers: Stolt Nielsen, Topps Tiles

Inga Muller
03 Apr, 2025
Frankfurt

Topps Tiles Plc. dropped 6.8% to 31.70 pence after the UK-based tile retailer issued a fiscal first-half update.

Sales in the first half were £127.7 million, 4% higher than £122.6 million in the previous year.

“While trading through January was slower, volumes began to build progressively thereafter, with this improving trend culminating in a strong performance in March, when the group's underlying sales, excluding CTD, increased by a high single-digit percentage compared to the previous year,” the company said in a release to investors.

Same-store sales within the Topps Tiles brand increased an annual 3.7% in the second quarter and 3% higher in the first half overall.

“While homeowner sales remain subdued, trade sales within Topps Tiles were strong, and progress with our digital initiatives continued at pace,” the company added in the statement.

Total trade sales in the brand increased 12% annually in the first half, with the number of active traders at the end of the period rising 11% to 146,000.

Digital channel sales rose 15% in the first half, and online trade traffic was up approximately fourfold.

Topps Tiles will announce half-year results on May 20.

Stolt Nielsen Ltd. traded flat at €21.65 after the bulk liquids storage service provider reported results for 2024.

Operating revenue edged up to $2.89 billion from $2.82 billion, net profit edged up to $394.76 million from $296.65 million, and diluted earnings per share rose to $7.38 from $5.54 a year ago.

Europe Movers: Stolt Nielsen, Topps Tiles

Inga Muller
03 Apr, 2025
Frankfurt

Topps Tiles Plc. dropped 6.8% to 31.70 pence after the UK-based tile retailer issued a fiscal first-half update.

Sales in the first half were £127.7 million, 4% higher than £122.6 million in the previous year.

“While trading through January was slower, volumes began to build progressively thereafter, with this improving trend culminating in a strong performance in March, when the group's underlying sales, excluding CTD, increased by a high single-digit percentage compared to the previous year,” the company said in a release to investors.

Same-store sales within the Topps Tiles brand increased an annual 3.7% in the second quarter and 3% higher in the first half overall.

“While homeowner sales remain subdued, trade sales within Topps Tiles were strong, and progress with our digital initiatives continued at pace,” the company added in the statement.

Total trade sales in the brand increased 12% annually in the first half, with the number of active traders at the end of the period rising 11% to 146,000.

Digital channel sales rose 15% in the first half, and online trade traffic was up approximately fourfold.

Topps Tiles will announce half-year results on May 20.

Stolt Nielsen Ltd. traded flat at €21.65 after the bulk liquids storage service provider reported results for 2024.

Operating revenue edged up to $2.89 billion from $2.82 billion, net profit edged up to $394.76 million from $296.65 million, and diluted earnings per share rose to $7.38 from $5.54 a year ago.

U.S. Escalated Trade War and Slapped China With Additional 34% Tariffs

Li Chen
03 Apr, 2025
Hong Kong

Stock market indexes in China and Hong Kong declined sharply after the U.S. unveiled stiff tariffs targeting key trading partners. 

The Hang Seng index dropped 1.7% and the mainland-focused CSI index decreased 0.4% on the final trading day of this ahead of the public holiday on Friday. 

On the lawns of the the White House Donald Trump announced widely anticipated reciprocal tariffs of at least 10%, spanning imports from all countries. 

The Trump administration levied 34% tariffs on China-made goods, in addition to the previously announced 20% tariffs in February, totaling 54%.

The import tax is likely to dampen exports from China and Chinese goods made in Vietnam, Mexico and ASEAN region as the Trump administration ramps up pressure on key trading partners. 

The U.S. is hoping that steep tariffs will help it to lower its trade deficit, support domestic manufacturers, and encourage foreign makers to shift production to its shores and create jobs. 

However, similar moves by the first Trump administration failed to convince global manufacturing companies to increase their production in the U.S., and despite higher tariffs China's exports to the U.S. jumped by 50% over the four years to 2020.

About 15% of exports from China are sent to the U.S., and additional 10% of Chinese goods are shipped via third countries including Mexico and Vietnam.  

The Trump administration imposed 20% tariffs on goods shipped from the European Union, 24% on Japan, 25% on South Korea, 26% on India, and 32% on Taiwan. 

China Indexes and Stocks 

The Hang Seng Index declined 1.7% to 22,837.36 and the mainland-focused CSI Index fell 0.4% to 3,869.08. 

Techtronic Industries dropped 12% to HK $82.50, and the company exports about 76% of its sales to North America. 

Lenovo Group declined 7% to HK $9.89, and the company receives bulk of its revenue from the U.S. 

Alibaba Group Holding dropped 5% to HK $123.50, Tencent Holdings dropped 1.9% to HK $495.0, and JD.com Inc fell 5% to HK $153.70.  

Shenzhou International Group Holding plunged 14% to HK $53.10, and the Chinese apparel company relies on shipments to companies in the U.S. including Nike.  

U.S. Escalated Trade War and Slapped China With Additional 34% Tariffs

Li Chen
03 Apr, 2025
Hong Kong

Stock market indexes in China and Hong Kong declined sharply after the U.S. unveiled stiff tariffs targeting key trading partners. 

The Hang Seng index dropped 1.7% and the mainland-focused CSI index decreased 0.4% on the final trading day of this ahead of the public holiday on Friday. 

On the lawns of the the White House Donald Trump announced widely anticipated reciprocal tariffs of at least 10%, spanning imports from all countries. 

The Trump administration levied 34% tariffs on China-made goods, in addition to the previously announced 20% tariffs in February, totaling 54%.

The import tax is likely to dampen exports from China and Chinese goods made in Vietnam, Mexico and ASEAN region as the Trump administration ramps up pressure on key trading partners. 

The U.S. is hoping that steep tariffs will help it to lower its trade deficit, support domestic manufacturers, and encourage foreign makers to shift production to its shores and create jobs. 

However, similar moves by the first Trump administration failed to convince global manufacturing companies to increase their production in the U.S., and despite higher tariffs China's exports to the U.S. jumped by 50% over the four years to 2020.

About 15% of exports from China are sent to the U.S., and additional 10% of Chinese goods are shipped via third countries including Mexico and Vietnam.  

The Trump administration imposed 20% tariffs on goods shipped from the European Union, 24% on Japan, 25% on South Korea, 26% on India, and 32% on Taiwan. 

China Indexes and Stocks 

The Hang Seng Index declined 1.7% to 22,837.36 and the mainland-focused CSI Index fell 0.4% to 3,869.08. 

Techtronic Industries dropped 12% to HK $82.50, and the company exports about 76% of its sales to North America. 

Lenovo Group declined 7% to HK $9.89, and the company receives bulk of its revenue from the U.S. 

Alibaba Group Holding dropped 5% to HK $123.50, Tencent Holdings dropped 1.9% to HK $495.0, and JD.com Inc fell 5% to HK $153.70.  

Shenzhou International Group Holding plunged 14% to HK $53.10, and the Chinese apparel company relies on shipments to companies in the U.S. including Nike.  

India Movers: Uflex, Nahar Industrial, RPSG, Signet, Hinduja Global, Ethos, Ashapura, Uttam Sugar

Arun Goswami
03 Apr, 2025
Mumbai

Uflex Ltd. fell 0.6% to ₹507.05 despite the flexible packaging and solutions provider's net income swung to a profit in the December quarter.

Consolidated revenue advanced to ₹3,774.2 crore from ₹3,345.4 crore, net income swung to a profit of ₹136.8 crore from a loss of ₹67.3 crore, and diluted earnings per share rose to an income of ₹18.95 from a loss of ₹9.31 a year ago.

Nahar Industrial Enterprises Ltd.  gained 1% to ₹93.79 after the textile manufacturer reported a slight increase in revenue and a marginal decline in net in the December quarter.

Consolidated revenue advanced to ₹446 crore from ₹370 crore, after-tax profit decreased to ₹4.6 crore from ₹5 crore, and diluted earnings per share fell to ₹1.07 from ₹1.16 a year ago.

RPSG Ventures Limited edged higher 1% to ₹854.95 after the company reported a slight increase in revenue and a 18% decline in profit in the December quarter.

Consolidated revenue advanced to ₹2,394.3 crore from ₹1,864.9 crore, net income fell to ₹45.6 crore from ₹55.4 crore, and diluted earnings per share dropped to ₹18.13 from ₹20.70 a year ago.

Signet Industries Limited inched higher 1.1% to ₹52.25 despite the plastic products manufacturing company reporting a decline in net income and revenue in the December quarter.

Consolidated revenue declined to ₹304.3 crore from ₹311.9 crore, after-tax profit decreased to ₹4.5 crore from ₹5.4 crore, and diluted earnings per share fell to ₹1.41 from ₹1.71 a year ago.

Hinduja Global Solutions ltd. jumped 0.5% to ₹475.90 and the tech ad business service exporter reported a two-fold increase in earnings in the December quarter.

Consolidated revenue advanced to ₹491.1 crore from ₹447 crore, net income jumped to ₹54.8 crore from ₹28 crore, and diluted earnings per share rose to ₹11.78 from ₹5.90 a year ago.

Ethos Ltd. rose 0.3% to ₹2,475.9, and the luxury watch retailer reported a 16% rise in its earnings in the latest quarter.

Consolidated revenue advanced to ₹375.7 crore from ₹287.6 crore, after-tax profit increased to ₹29.5 crore from ₹25.5 crore, and diluted earnings per share rose to ₹12.05 from ₹10.84 a year ago.

Ashapura Minechem Ltd. declined 0.08% to ₹378.85 despite the diversified mineral company reporting a 119% jump in its earnings in the December quarter.

Consolidated revenue advanced to ₹879.2 crore from ₹719 crore, net income jumped to ₹101.1 crore from ₹46.1 crore, and diluted earnings per share rose to ₹11.15 from ₹5.83 a year ago.

Uttam Sugar Mills Ltd. increased 0.09% to ₹270.05, and the sugar and industrial alcohol producer reported a 31% plunge in quarterly profit from a year ago.

Consolidated revenue decreased to ₹425.9 crore from ₹520 crore, after-tax profit declined to ₹30.1 crore from ₹43.5 crore, and diluted earnings per share fell to ₹8.18 from ₹11.40 a year ago.

India Movers: Uflex, Nahar Industrial, RPSG, Signet, Hinduja Global, Ethos, Ashapura, Uttam Sugar

Arun Goswami
03 Apr, 2025
Mumbai

Uflex Ltd. fell 0.6% to ₹507.05 despite the flexible packaging and solutions provider's net income swung to a profit in the December quarter.

Consolidated revenue advanced to ₹3,774.2 crore from ₹3,345.4 crore, net income swung to a profit of ₹136.8 crore from a loss of ₹67.3 crore, and diluted earnings per share rose to an income of ₹18.95 from a loss of ₹9.31 a year ago.

Nahar Industrial Enterprises Ltd.  gained 1% to ₹93.79 after the textile manufacturer reported a slight increase in revenue and a marginal decline in net in the December quarter.

Consolidated revenue advanced to ₹446 crore from ₹370 crore, after-tax profit decreased to ₹4.6 crore from ₹5 crore, and diluted earnings per share fell to ₹1.07 from ₹1.16 a year ago.

RPSG Ventures Limited edged higher 1% to ₹854.95 after the company reported a slight increase in revenue and a 18% decline in profit in the December quarter.

Consolidated revenue advanced to ₹2,394.3 crore from ₹1,864.9 crore, net income fell to ₹45.6 crore from ₹55.4 crore, and diluted earnings per share dropped to ₹18.13 from ₹20.70 a year ago.

Signet Industries Limited inched higher 1.1% to ₹52.25 despite the plastic products manufacturing company reporting a decline in net income and revenue in the December quarter.

Consolidated revenue declined to ₹304.3 crore from ₹311.9 crore, after-tax profit decreased to ₹4.5 crore from ₹5.4 crore, and diluted earnings per share fell to ₹1.41 from ₹1.71 a year ago.

Hinduja Global Solutions ltd. jumped 0.5% to ₹475.90 and the tech ad business service exporter reported a two-fold increase in earnings in the December quarter.

Consolidated revenue advanced to ₹491.1 crore from ₹447 crore, net income jumped to ₹54.8 crore from ₹28 crore, and diluted earnings per share rose to ₹11.78 from ₹5.90 a year ago.

Ethos Ltd. rose 0.3% to ₹2,475.9, and the luxury watch retailer reported a 16% rise in its earnings in the latest quarter.

Consolidated revenue advanced to ₹375.7 crore from ₹287.6 crore, after-tax profit increased to ₹29.5 crore from ₹25.5 crore, and diluted earnings per share rose to ₹12.05 from ₹10.84 a year ago.

Ashapura Minechem Ltd. declined 0.08% to ₹378.85 despite the diversified mineral company reporting a 119% jump in its earnings in the December quarter.

Consolidated revenue advanced to ₹879.2 crore from ₹719 crore, net income jumped to ₹101.1 crore from ₹46.1 crore, and diluted earnings per share rose to ₹11.15 from ₹5.83 a year ago.

Uttam Sugar Mills Ltd. increased 0.09% to ₹270.05, and the sugar and industrial alcohol producer reported a 31% plunge in quarterly profit from a year ago.

Consolidated revenue decreased to ₹425.9 crore from ₹520 crore, after-tax profit declined to ₹30.1 crore from ₹43.5 crore, and diluted earnings per share fell to ₹8.18 from ₹11.40 a year ago.

U.S. Market Volatility to Remain Elevated as Trump Tariff Confusion Prevails

Barry Adams
02 Apr, 2025
New York City

Stock market indexes remained under pressure as uncertainty around Trump tariffs contributed to market volatility, and benchmark indexes extended seven-week losses deeper into correction territory. 

The S&P 500 index decreased as much as 0.3%, and the Nasdaq Composite fell about 0.2%, but both indexes attempted to rebound in listless trading. 

The Trump administration's chaotic launch of the import tax, which has put key trading partners on guard, has stoked fears of a wider trade war and raised fears of stagflation in the U.S. 

With each passing day, more companies are delaying their investment decisions in the hopes of more clarity about U.S. trade policy and rules of engagement. 

Donald Trump's White House has knocked off market sentiment, and benchmark indexes have lost about 10% since mid-February. 

Moreover, economists have lowered the U.S. GDP growth estimate from the annual pace of more than 2% to close to zero amid Trump's trade turmoil and threats to key trading partners and neighbors. 

Without the clarity on the trade front, the job market is likely to cool, business investment is expected to freeze, and foreign investors are expected to delay their plans of investment.

In addition, foreign tourist arrivals are also likely to shrink by as much as 5%, compared to the previous estimate of the increase of 9% in 2025, according to several leading tourism industry analysts.

On the economic front, new orders for manufactured goods increased 0.6% from the previous month in February, the U.S. Census Bureau reported Wednesday.

Private payrolls expanded by 155,000 in March, driven by 132,000 job additions in the service sector, according to the data released by ADP.

The hiring accelerated from February, when companies added an upwardly revised 84,000 jobs.

Commodities, Currencies, Indexes, Yields

The S&P 500 index decreased 0.3% to 5,614.53, the Nasdaq Composite edged down 0.2% to 17,403.51, and the Russell 2000 index was down 0.9% to 1,994.73.

The yield on 2-year Treasury notes edged lower to 3.86%, 10-year Treasury notes decreased to 4.12%, and 30-year Treasury bonds declined to 4.49%.

WTI crude oil decreased $0.13 to $71.07 a barrel, and natural gas prices edged higher by $0.08 to $4.04 a thermal unit.

Gold increased by $16.43 to $3,131.65 an ounce, and silver edged up by $0.28 to $33.95.

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.29 to 103.97 and traded at a two-year high.

U.S. Stock Movers 

Tesla decreased 2% to $256.60, and the electric vehicle maker reported fewer than expected deliveries in the first quarter. 

The EV company delivered 336,000 vehicles worldwide, sharply lower than the market estimate between 360,000 and 370,000. 

The company is likely to report a larger decline in the second quarter amid falling sales in California, China, and the European Union. 

XPeng Inc. gained 1.2% to $21.22 after the Chinese electric vehicle maker announced vehicle delivery results for March and the first quarter of 2025.

In March, the company delivered 33,205 electric vehicles, marking a 268% increase year-over-year, surpassing 30,000 units for the fifth consecutive month.

For the first quarter of 2025, XPeng delivered 94,008 EVs, representing a 331% increase compared to the same period last year.

On March 13, the company launched 2025 versions of the XPeng G6 and XPeng G9, and both upgraded versions come standard with 5C AI batteries and Turing AI-powered smart driving features across all trims.

At the same time, XPeng expanded its global presence by entering the Indonesian market.

On March 18, the company announced fourth quarter of 2024 earnings results.

Revenue increased to 16.10 billion yuan from 13.05 billion yuan, net loss shrank to 1.33 billion yuan from 1.35 billion yuan, and diluted loss per share narrowed to 70 cents from a loss of 75 cents a year ago.

Total deliveries of vehicles were 91,507 during the fourth quarter, representing an increase of 52.1% from 60,158 in the corresponding period of 2023.

For the full year 2024, revenue jumped to 40.87 billion yuan from 30.68 billion yuan, net loss shrank to 5.79 billion yuan from 10.37 billion yuan, and diluted loss per share narrowed to 3.06 yuan from a loss of 5.96 yuan a year ago.

U.S. Market Volatility to Remain Elevated as Trump Tariff Confusion Prevails

Barry Adams
02 Apr, 2025
New York City

Stock market indexes remained under pressure as uncertainty around Trump tariffs contributed to market volatility, and benchmark indexes extended seven-week losses deeper into correction territory. 

The S&P 500 index decreased as much as 0.3%, and the Nasdaq Composite fell about 0.2%, but both indexes attempted to rebound in listless trading. 

The Trump administration's chaotic launch of the import tax, which has put key trading partners on guard, has stoked fears of a wider trade war and raised fears of stagflation in the U.S. 

With each passing day, more companies are delaying their investment decisions in the hopes of more clarity about U.S. trade policy and rules of engagement. 

Donald Trump's White House has knocked off market sentiment, and benchmark indexes have lost about 10% since mid-February. 

Moreover, economists have lowered the U.S. GDP growth estimate from the annual pace of more than 2% to close to zero amid Trump's trade turmoil and threats to key trading partners and neighbors. 

Without the clarity on the trade front, the job market is likely to cool, business investment is expected to freeze, and foreign investors are expected to delay their plans of investment.

In addition, foreign tourist arrivals are also likely to shrink by as much as 5%, compared to the previous estimate of the increase of 9% in 2025, according to several leading tourism industry analysts.

On the economic front, new orders for manufactured goods increased 0.6% from the previous month in February, the U.S. Census Bureau reported Wednesday.

Private payrolls expanded by 155,000 in March, driven by 132,000 job additions in the service sector, according to the data released by ADP.

The hiring accelerated from February, when companies added an upwardly revised 84,000 jobs.

Commodities, Currencies, Indexes, Yields

The S&P 500 index decreased 0.3% to 5,614.53, the Nasdaq Composite edged down 0.2% to 17,403.51, and the Russell 2000 index was down 0.9% to 1,994.73.

The yield on 2-year Treasury notes edged lower to 3.86%, 10-year Treasury notes decreased to 4.12%, and 30-year Treasury bonds declined to 4.49%.

WTI crude oil decreased $0.13 to $71.07 a barrel, and natural gas prices edged higher by $0.08 to $4.04 a thermal unit.

Gold increased by $16.43 to $3,131.65 an ounce, and silver edged up by $0.28 to $33.95.

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.29 to 103.97 and traded at a two-year high.

U.S. Stock Movers 

Tesla decreased 2% to $256.60, and the electric vehicle maker reported fewer than expected deliveries in the first quarter. 

The EV company delivered 336,000 vehicles worldwide, sharply lower than the market estimate between 360,000 and 370,000. 

The company is likely to report a larger decline in the second quarter amid falling sales in California, China, and the European Union. 

XPeng Inc. gained 1.2% to $21.22 after the Chinese electric vehicle maker announced vehicle delivery results for March and the first quarter of 2025.

In March, the company delivered 33,205 electric vehicles, marking a 268% increase year-over-year, surpassing 30,000 units for the fifth consecutive month.

For the first quarter of 2025, XPeng delivered 94,008 EVs, representing a 331% increase compared to the same period last year.

On March 13, the company launched 2025 versions of the XPeng G6 and XPeng G9, and both upgraded versions come standard with 5C AI batteries and Turing AI-powered smart driving features across all trims.

At the same time, XPeng expanded its global presence by entering the Indonesian market.

On March 18, the company announced fourth quarter of 2024 earnings results.

Revenue increased to 16.10 billion yuan from 13.05 billion yuan, net loss shrank to 1.33 billion yuan from 1.35 billion yuan, and diluted loss per share narrowed to 70 cents from a loss of 75 cents a year ago.

Total deliveries of vehicles were 91,507 during the fourth quarter, representing an increase of 52.1% from 60,158 in the corresponding period of 2023.

For the full year 2024, revenue jumped to 40.87 billion yuan from 30.68 billion yuan, net loss shrank to 5.79 billion yuan from 10.37 billion yuan, and diluted loss per share narrowed to 3.06 yuan from a loss of 5.96 yuan a year ago.

Europe Markets Remain Under Pressure Ahead of U.S. Import Tax Roll Out

Bridgette Randall
02 Apr, 2025
London

European markets continued to slide amid worries of escalating trade war with the U.S. and persistent economic weakness in the region. 

Benchmark indexes in Frankfurt, Paris, Milan, and London declined between 0.3% and 1.0%, and investors are adjusting corporate earnings and economic growth expectations for the first quarter.

The DAX index soared 12% in the first quarter, the CAC-40 index advanced 5.7%, and the FTSE 100 index gained 3.8%. 

However, market indexes have been under pressure since mid-February amid soft economic data, lackluster corporate earnings, and an escalating trade war with the U.S.

German stocks rallied over the last month after lawmakers in a historic decision lifted the debt ceiling to accelerate infrastructure spending and finance rearmament in the European Union. 

On the economic front, Spain's registered jobless people decreased by 13,311 from the previous month to 2.58 million in March, according to the latest data released by the Ministry of Employment and Social Security. 

From a year ago, the number of registered jobless people decreased by 146,900, and inclement weather played a role in keeping the net new jobs from increasing at a faster pace. 

Net formal jobs increased by 23,079 to 21.5 million, the ministry added in the report.  

Europe Indexes and Yields

The DAX index decreased by 0.7% to 22,388.63, the CAC-40 index edged lower 0.5% to 7,835.11, and the FTSE 100 index declined by 0.3% to 8,610.27.

The yield on 10-year German bonds inched lower to 2.67%, French bonds decreased to 3.39%, the UK gilts moved down to 4.64%, and Italian bonds edged higher to 3.79%.

The euro decreased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was higher and traded at 88.45 Swiss cents.

Brent crude decreased $0.30 to $74.19 a barrel, and the Dutch TTF natural gas was higher by €0.01 to €42.68 per MWh.

Europe Movers

Svitzer Group soared 31% to DKK 281.70, and A.P. Moeller Holding proposed to acquire the remaining stake in the marine service provider. 

Grafton Group decreased 1.3% to 852.10 pence, and the distributor of building materials said that it has agreed to acquire the Irish unit of HSS Hire Group for €31.6 million on a cash and debt-free basis.

Fuchs SE decreased 2.2% to €32.95, and the German manufacturer of lubricants and specialty products agreed to acquire the U.S.-based IRMCO Advanced Lubricant Technologies for an undisclosed amount.

Nordex SE advanced 3% to €14.86, and the German wind turbine manufacturer said it received two orders totaling 750 MW from a wind energy project developer in Türkiye.

Europe Markets

Bridgette Randall
02 Apr, 2025
London

European markets continued to slide amid worries of escalating trade war with the U.S. and persistent economic weakness in the region. 

Benchmark indexes in Frankfurt, Paris, Milan, and London declined between 0.3% and 1.0%, and investors are adjusting corporate earnings and economic growth expectations for the first quarter.

The DAX index soared 12% in the first quarter, the CAC-40 index advanced 5.7%, and the FTSE 100 index gained 3.8%. 

However, market indexes have been under pressure since mid-February amid soft economic data, lackluster corporate earnings, and an escalating trade war with the U.S.

German stocks rallied over the last month after lawmakers in a historic decision lifted the debt ceiling to accelerate infrastructure spending and finance rearmament in the European Union. 

On the economic front, Spain's registered jobless people decreased by 13,311 from the previous month to 2.58 million in March, according to the latest data released by the Ministry of Employment and Social Security. 

From a year ago, the number of registered jobless people decreased by 146,900, and inclement weather played a role in keeping the net new jobs from increasing at a faster pace. 

Net formal jobs increased by 23,079 to 21.5 million, the ministry added in the report.  

Europe Indexes and Yields

The DAX index decreased by 0.7% to 22,388.63, the CAC-40 index edged lower 0.5% to 7,835.11, and the FTSE 100 index declined by 0.3% to 8,610.27.

The yield on 10-year German bonds inched lower to 2.67%, French bonds decreased to 3.39%, the UK gilts moved down to 4.64%, and Italian bonds edged higher to 3.79%.

The euro decreased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was higher and traded at 88.45 Swiss cents.

Brent crude decreased $0.30 to $74.19 a barrel, and the Dutch TTF natural gas was higher by €0.01 to €42.68 per MWh.

Europe Movers

Svitzer Group soared 31% to DKK 281.70, and A.P. Moeller Holding proposed to acquire the remaining stake in the marine service provider. 

Grafton Group decreased 1.3% to 852.10 pence, and the distributor of building materials said that it has agreed to acquire the Irish unit of HSS Hire Group for €31.6 million on a cash and debt-free basis.

Fuchs SE decreased 2.2% to €32.95, and the German manufacturer of lubricants and specialty products agreed to acquire the U.S.-based IRMCO Advanced Lubricant Technologies for an undisclosed amount.

Nordex SE advanced 3% to €14.86, and the German wind turbine manufacturer said it received two orders totaling 750 MW from a wind energy project developer in Türkiye.

U.S. Movers: Progress Software, XPeng

Scott Peters
02 Apr, 2025
New York City

Progress Software gained 0.2% to $57.90 after the infrastructure software developer reported results for the fiscal first quarter ending in February.

Revenue increased 29% to $238.01 million from $184.68 million, net income slumped 52% to $10.95 million from $22.64 million, and diluted earnings per share fell 53% to 24 cents from 51 cents a year ago.

During the quarter, the company repurchased $30 million of its shares and accelerated repayment of the revolving credit line used to partially finance the ShareFile acquisition, paying down $30 million.

The company guided for the second quarter non-GAAP revenue to be between $235 million and $241 million, compared to $175 million a year ago, and non-GAAP diluted earnings per share between $1.28 and $1.34, compared to $1.09 a year earlier.

For the full year ending in November, the software company estimated non-GAAP revenue to be between $958 million and $970 million, compared to $753.41 million a year ago, and non-GAAP diluted earnings per share between $5.00 and $5.12, compared to $4.93 in 2024.

XPeng Inc. gained 1.2% to $21.22 after the Chinese electric vehicle maker announced vehicle delivery results for March and the first quarter of 2025.

In March, the company delivered 33,205 electric vehicles, marking a 268% increase year-over-year, surpassing 30,000 units for the fifth consecutive month.

For the first quarter of 2025, XPeng delivered 94,008 EVs, representing a 331% increase compared to the same period last year.

On March 13, the company launched 2025 versions of the XPeng G6 and XPeng G9, and both upgraded versions come standard with 5C AI batteries and Turing AI-powered smart driving features across all trims.

At the same time, XPeng expanded its global presence by entering the Indonesian market.

On March 18, the company announced fourth quarter of 2024 earnings results.

Revenue increased to 16.10 billion yuan from 13.05 billion yuan, net loss shrank to 1.33 billion yuan from 1.35 billion yuan, and diluted loss per share narrowed to 70 cents from a loss of 75 cents a year ago.

Total deliveries of vehicles were 91,507 during the fourth quarter, representing an increase of 52.1% from 60,158 in the corresponding period of 2023.

For the full year 2024, revenue jumped to 40.87 billion yuan from 30.68 billion yuan, net loss shrank to 5.79 billion yuan from 10.37 billion yuan, and diluted loss per share narrowed to 3.06 yuan from a loss of 5.96 yuan a year ago.

U.S. Movers: Progress Software, XPeng

Scott Peters
02 Apr, 2025
Frankfurt

Progress Software gained 0.2% to $57.90 after the infrastructure software developer reported results for the fiscal first quarter ending in February.

Revenue increased 29% to $238.01 million from $184.68 million, net income slumped 52% to $10.95 million from $22.64 million, and diluted earnings per share fell 53% to 24 cents from 51 cents a year ago.

During the quarter, the company repurchased $30 million of its shares and accelerated repayment of the revolving credit line used to partially finance the ShareFile acquisition, paying down $30 million.

The company guided for the second quarter non-GAAP revenue to be between $235 million and $241 million, compared to $175 million a year ago, and non-GAAP diluted earnings per share between $1.28 and $1.34, compared to $1.09 a year earlier.

For the full year ending in November, the software company estimated non-GAAP revenue to be between $958 million and $970 million, compared to $753.41 million a year ago, and non-GAAP diluted earnings per share between $5.00 and $5.12, compared to $4.93 in 2024.

XPeng Inc. gained 1.2% to $21.22 after the Chinese electric vehicle maker announced vehicle delivery results for March and the first quarter of 2025.

In March, the company delivered 33,205 electric vehicles, marking a 268% increase year-over-year, surpassing 30,000 units for the fifth consecutive month.

For the first quarter of 2025, XPeng delivered 94,008 EVs, representing a 331% increase compared to the same period last year.

On March 13, the company launched 2025 versions of the XPeng G6 and XPeng G9, and both upgraded versions come standard with 5C AI batteries and Turing AI-powered smart driving features across all trims.

At the same time, XPeng expanded its global presence by entering the Indonesian market.

On March 18, the company announced fourth quarter of 2024 earnings results.

Revenue increased to 16.10 billion yuan from 13.05 billion yuan, net loss shrank to 1.33 billion yuan from 1.35 billion yuan, and diluted loss per share narrowed to 70 cents from a loss of 75 cents a year ago.

Total deliveries of vehicles were 91,507 during the fourth quarter, representing an increase of 52.1% from 60,158 in the corresponding period of 2023.

For the full year 2024, revenue jumped to 40.87 billion yuan from 30.68 billion yuan, net loss shrank to 5.79 billion yuan from 10.37 billion yuan, and diluted loss per share narrowed to 3.06 yuan from a loss of 5.96 yuan a year ago.