Market Update
China Markets
Li Chen
15 Sep, 2025
Hong Kong
China stock indexes gained on Monday, and investors reviewed the latest batch of economic updates.
The Hang Seng Index increased 0.2%, and the CSI 300 index increased 0.8%, and investors turned cautious after a mixed batch of economic data for August was released by the National Bureau of Statistics.
Retail sales increased 3.4% from a year ago, slower than 3.7% in July, as the effect of the government's trade-in program for household goods faded.
Industrial output increased 5.2% in August, compared to 5.7% in July, as export growth slowed after the U.S. shipments plunged following months of front-loading ahead of a sharp escalation in tariffs.
Fixed-asset investment growth slowed amid persistent weakness in the residential housing market and receding growth in exports.
Fixed-asset investment from this year to August eased to 0.5% from 1.2% in the seven-month period to July, as domestic economic growth stalled and exports weakened.
Property investment declined 12.9% in the first eight months of 2025 from 12.0% in the period between January and July.
New home sales by floor area declined 4.7% in the first eight months to August compared to a fall of 4.0% in the period to July.
Moreover, new home prices across 70 of the largest metropolitan areas declined 2.5% from a year ago in August, compared to an annual fall of 2.8% in the previous month.
Home prices declined for the 26th consecutive month in August, but the pace of decrease was the slowest since March 2024.
The annual home price decline in Beijing accelerated to 3.5% from 3.6% in the previous month, in Shenzhen to 2.7% from 2.2%, and in Chongqing to 2.4% from 2.1%.
However, new home prices rose in Shanghai at a slower annual pace of 5.9% compared to the 6.1% pace in July.
The persistent demand weakness was driven by weak consumer confidence and deteriorating job market conditions.
The overall urban jobless rate in August inched higher to 5.3% from 5.2% in the previous month, as medium- and small-scale manufacturing businesses continued their expansion overseas.
China Indexes and Stocks
The Hang Seng Index added 0.2% to 26,450.01, and the CSI 300 index advanced 0.8% to 4,558.95.
Alibaba Group Holding increased 3.1% to HK$155.60, Tencent Holdings decreased 0.3% to HK$642.0, and Meituan advanced 0.6% to HK$97.10.
Li Auto jumped 5% to HK$98.05, BYD increased 4.4% to HK¥100.0, and Xpeng Inc. gained 2.5% to $83.35.
U.S. Movers: Adobe, Hooker Furniture, Kroger, RH, Super Micro
Scott Peters
12 Sep, 2025
New York City
Adobe Inc. rose 2.5% to $361.01 after the content software developer's quarterly results surpassed market expectations.
In the fiscal third quarter ending on August 29, consolidated revenue increased to $6 billion from $5.4 billion, net income soared to $1.8 billion from $1.7 billion, and diluted earnings per share rose to $4.18 from $3.76 a year ago.
During the quarter, Adobe repurchased approximately 8.0 million shares.
Adobe guided fiscal fourth-quarter revenue to be between $6.075 billion and $6.125 billion, earnings per share between $4.27 and $4.32, and adjusted earnings per share between $5.35 and $5.40.
Adobe guided full-year revenue to be between $23.65 billion and $23.70 billion, earnings per share between $16.53 and $16.58, and adjusted earnings per share between $20.80 and $20.85.
The Kroger Co. inched up 0.4% to $67.48 after the food retailer reported a 30% increase in net income in the fiscal second quarter ending on August 16.
Consolidated revenue inched higher to $33.94 billion from $33.91 billion, net income climbed to $609 million from $466 million, and diluted earnings per share soared to 91 cents from 64 cents a year ago.
The company reported a 16% increase in e-commerce sales.
In the fiscal fourth quarter of 2024, Kroger launched a $5 billion accelerated share repurchase program, expected to be completed in the third quarter of fiscal 2025.
The ASR is part of a $7.5 billion share repurchase authorization, with the remaining $2.5 billion planned for open market repurchases by the end of FY2025.
Kroger guided full-year identical sales without fuel to be between 2.7% and 3.4%, operating profit between $4.8 billion and $4.9 billion, earnings per share between $4.70 and $4.80, and an effective tax rate of 18.5%.
RH dropped 7.5% to $211.0 after the furniture retailer reported weaker-than-expected revenue in the fiscal second quarter ending on August 2.
Revenue rose 8.4% to $899.2 million from $829.7 million, net income soared 79% to $51.7 million from $28.95 million, and diluted earnings per share advanced to $2.62 from $1.45 a year ago.
The furniture retailer guided third-quarter revenue growth between 8% and 10% and adjusted operating margin of 12% and 13%; full-year revenue growth between 8% and 10%; and adjusted operating margin of 13% to 14%.
Super Micro Computer jumped 6.6% to $46.85, and the company confirmed the start of volume shipments of its custom servers with Nvidia Blackwell Ultra solutions to its worldwide customers.
Hooker Furniture Corporation decreased 1.21% to $10.60, and the furniture and home décor manufacturer reported a 68% rise in net loss in the latest quarter ending on August 3.
Consolidated revenue declined 13.6% to $82 million from $95.1 million, net loss advanced to $3.28 million from $1.95 million, and diluted losses per share expanded to 31 cents from 19 cents a year ago.
The Home Meridian segment’s net sales declined 44.5% to $13.6 million.
"About 40% of the decline came from the project-based hospitality business, where two large projects entered the shipping phase in the second quarter of last year, 35% of the decline came from traditional furniture channels due to macroeconomic pressures and tariff-related hesitancy, and 25% of the decline came from the loss of a major customer that filed for bankruptcy last year," the company said in a statement to investors.
During the second quarter, the company paid $5 million in dividends.
"We are on target for our new expense structure, which reduces our fixed costs by approximately 25%, largely to be in place by the end of the third quarter," said CEO Jeremy Hoff.
The company is struggling under high tariffs on lumber from Canada and 20% tariffs on furniture and upholstered products from Vietnam.
The company said it's multi-phase restructuring plan is set to achieve annual savings of $25 million starting fiscal 2027.
Stock Movers: Adobe, Hooker Furniture, Kroger, RH, Super Micro
Scott Peters
12 Sep, 2025
New York City
Adobe Inc. rose 2.5% to $361.01 after the content software developer's quarterly results surpassed market expectations.
In the fiscal third quarter ending on August 29, consolidated revenue increased to $6 billion from $5.4 billion, net income soared to $1.8 billion from $1.7 billion, and diluted earnings per share rose to $4.18 from $3.76 a year ago.
During the quarter, Adobe repurchased approximately 8.0 million shares.
Adobe guided fiscal fourth-quarter revenue to be between $6.075 billion and $6.125 billion, earnings per share between $4.27 and $4.32, and adjusted earnings per share between $5.35 and $5.40.
Adobe guided full-year revenue to be between $23.65 billion and $23.70 billion, earnings per share between $16.53 and $16.58, and adjusted earnings per share between $20.80 and $20.85.
The Kroger Co. inched up 0.4% to $67.48 after the food retailer reported a 30% increase in net income in the fiscal second quarter ending on August 16.
Consolidated revenue inched higher to $33.94 billion from $33.91 billion, net income climbed to $609 million from $466 million, and diluted earnings per share soared to 91 cents from 64 cents a year ago.
The company reported a 16% increase in e-commerce sales.
In the fiscal fourth quarter of 2024, Kroger launched a $5 billion accelerated share repurchase program, expected to be completed in the third quarter of fiscal 2025.
The ASR is part of a $7.5 billion share repurchase authorization, with the remaining $2.5 billion planned for open market repurchases by the end of FY2025.
Kroger guided full-year identical sales without fuel to be between 2.7% and 3.4%, operating profit between $4.8 billion and $4.9 billion, earnings per share between $4.70 and $4.80, and an effective tax rate of 18.5%.
RH dropped 7.5% to $211.0 after the furniture retailer reported weaker-than-expected revenue in the fiscal second quarter ending on August 2.
Revenue rose 8.4% to $899.2 million from $829.7 million, net income soared 79% to $51.7 million from $28.95 million, and diluted earnings per share advanced to $2.62 from $1.45 a year ago.
The furniture retailer guided third-quarter revenue growth between 8% and 10% and adjusted operating margin of 12% and 13%; full-year revenue growth between 8% and 10%; and adjusted operating margin of 13% to 14%.
Super Micro Computer jumped 6.6% to $46.85, and the company confirmed the start of volume shipments of its custom servers with Nvidia Blackwell Ultra solutions to its worldwide customers.
Hooker Furniture Corporation decreased 1.21% to $10.60, and the furniture and home décor manufacturer reported a 68% rise in net loss in the latest quarter ending on August 3.
Consolidated revenue declined to $82 million from $95.1 million, net loss advanced to $3.28 million from $1.95 million, and diluted losses per share expanded to 31 cents from 19 cents a year ago.
During the second quarter, the company paid $5 million in dividends.
"We are on target for our new expense structure, which reduces our fixed costs by approximately 25%, largely to be in place by the end of the third quarter," said CEO Jeremy Hoff.
The company is struggling under high tariffs on lumber from Canada and 20% tariffs on furniture and upholstered products from Vietnam.
The company said it's multi-phase restructuring plan is set to achieve annual savings of $25 million starting fiscal 2027.
AI-Driven Tech Rally Sustains Fresh New Highs On Wall Street
Barry Adams
12 Sep, 2025
New York City
Popular benchmark indexes on Wall Street hovered near record highs as investors shifted their focus to the Fed's rate decisions.
The S&P 500 index edged down 0.1%, and the tech-focused Nasdaq Composite decreased a fraction in Friday's trading.
On Thursday, the S&P 500 and the Nasdaq Composite advanced to new record highs after investors cheered the consumer price inflation report for August.
However, the jobless claims hogged the limelight after the initial weekly claims rose to a four-year high of 263,000 at the end of the first week of September.
And the continuing jobless claims held nearly steady at 1.94 million.
Fed policymakers are in a tough spot as they try to balance the dual mandate of price stability and maximum employment.
While inflation is contained but far from the Fed's target rate of 2%, policymakers are worried about the lagging impact of the sharp escalation in import taxes on goods.
Moreover, job market conditions are deteriorating as businesses are not firing but also not hiring new employees, and the average increase in payrolls in the last three months to August fell to 29,000.
For now, market participants are convinced that the policy makers' committee is set to lower the fed funds rate by at least 25 basis points on September 18.
U.S. Stock Movers
Adobe Inc.rose 2.5% to $361.01 after the content software developer's quarterly results surpassed market expectations.
In the fiscal third quarter ending on August 29, consolidated revenue increased to $6 billion from $5.4 billion, net income soared to $1.8 billion from $1.7 billion, and diluted earnings per share rose to $4.18 from $3.76 a year ago.
During the quarter, Adobe repurchased approximately 8.0 million shares.
Adobe guided fiscal fourth-quarter revenue to be between $6.075 billion and $6.125 billion, earnings per share between $4.27 and $4.32, and adjusted earnings per share between $5.35 and $5.40.
Adobe guided full-year revenue to be between $23.65 billion and $23.70 billion, earnings per share between $16.53 and $16.58, and adjusted earnings per share between $20.80 and $20.85.
The Kroger Co. inched up 0.4% to $67.48 after the food retailer reported a 30% increase in net income in the fiscal second quarter ending on August 16.
Consolidated revenue inched higher to $33.94 billion from $33.91 billion, net income climbed to $609 million from $466 million, and diluted earnings per share soared to 91 cents from 64 cents a year ago.
The company reported a 16% increase in e-commerce sales.
In the fiscal fourth quarter of 2024, Kroger launched a $5 billion accelerated share repurchase program, expected to be completed in the third quarter of fiscal 2025.
The ASR is part of a $7.5 billion share repurchase authorization, with the remaining $2.5 billion planned for open market repurchases by the end of FY2025.
Kroger guided full-year identical sales without fuel to be between 2.7% and 3.4%, operating profit between $4.8 billion and $4.9 billion, earnings per share between $4.70 and $4.80, and an effective tax rate of 18.5%.
RH dropped 7.5% to $211.0 after the furniture retailer reported weaker-than-expected revenue in the fiscal second quarter ending on August 2.
Revenue rose 8.4% to $899.2 million from $829.7 million, net income soared 79% to $51.7 million from $28.95 million, and diluted earnings per share advanced to $2.62 from $1.45 a year ago.
The furniture retailer guided third-quarter revenue growth between 8% and 10% and adjusted operating margin of 12% and 13%; full-year revenue growth between 8% and 10%; and adjusted operating margin of 13% to 14%.
Super Micro Computer jumped 6.6% to $46.85, and the company confirmed the start of volume shipments of its custom servers with Nvidia Blackwell Ultra solutions to its worldwide customers.
AI-Driven Tech Rally Sustains Fresh New Highs On Wall Street
Barry Adams
12 Sep, 2025
New York City
Popular benchmark indexes on Wall Street hovered near record highs as investors shifted their focus to the Fed's rate decisions.
The S&P 500 index edged down 0.1%, and the tech-focused Nasdaq Composite decreased a fraction in Friday's trading.
On Thursday, the S&P 500 and the Nasdaq Composite advanced to new record highs after investors cheered the consumer price inflation report for August.
However, the jobless claims hogged the limelight after the initial weekly claims rose to a four-year high of 263,000 at the end of the first week of September.
And the continuing jobless claims held nearly steady at 1.94 million.
Fed policymakers are in a tough spot as they try to balance the dual mandate of price stability and maximum employment.
While inflation is contained but far from the Fed's target rate of 2%, policymakers are worried about the lagging impact of the sharp escalation in import taxes on goods.
Moreover, job market conditions are deteriorating as businesses are not firing but also not hiring new employees, and the average increase in payrolls in the last three months to August fell to 29,000.
For now, market participants are convinced that the policy makers' committee is set to lower the fed funds rate by at least 25 basis points on September 18.
U.S. Stock Movers
Adobe Inc.rose 2.5% to $361.01 after the content software developer's quarterly results surpassed market expectations.
In the fiscal third quarter ending on August 29, consolidated revenue increased to $6 billion from $5.4 billion, net income soared to $1.8 billion from $1.7 billion, and diluted earnings per share rose to $4.18 from $3.76 a year ago.
During the quarter, Adobe repurchased approximately 8.0 million shares.
Adobe guided fiscal fourth-quarter revenue to be between $6.075 billion and $6.125 billion, earnings per share between $4.27 and $4.32, and adjusted earnings per share between $5.35 and $5.40.
Adobe guided full-year revenue to be between $23.65 billion and $23.70 billion, earnings per share between $16.53 and $16.58, and adjusted earnings per share between $20.80 and $20.85.
The Kroger Co. inched up 0.4% to $67.48 after the food retailer reported a 30% increase in net income in the fiscal second quarter ending on August 16.
Consolidated revenue inched higher to $33.94 billion from $33.91 billion, net income climbed to $609 million from $466 million, and diluted earnings per share soared to 91 cents from 64 cents a year ago.
The company reported a 16% increase in e-commerce sales.
In the fiscal fourth quarter of 2024, Kroger launched a $5 billion accelerated share repurchase program, expected to be completed in the third quarter of fiscal 2025.
The ASR is part of a $7.5 billion share repurchase authorization, with the remaining $2.5 billion planned for open market repurchases by the end of FY2025.
Kroger guided full-year identical sales without fuel to be between 2.7% and 3.4%, operating profit between $4.8 billion and $4.9 billion, earnings per share between $4.70 and $4.80, and an effective tax rate of 18.5%.
RH dropped 7.5% to $211.0 after the furniture retailer reported weaker-than-expected revenue in the fiscal second quarter ending on August 2.
Revenue rose 8.4% to $899.2 million from $829.7 million, net income soared 79% to $51.7 million from $28.95 million, and diluted earnings per share advanced to $2.62 from $1.45 a year ago.
The furniture retailer guided third-quarter revenue growth between 8% and 10% and adjusted operating margin of 12% and 13%; full-year revenue growth between 8% and 10%; and adjusted operating margin of 13% to 14%.
Super Micro Computer jumped 6.6% to $46.85, and the company confirmed the start of volume shipments of its custom servers with Nvidia Blackwell Ultra solutions to its worldwide customers.
India Indexes Rebounded to Three-Week Highs
Arjun Pandit
12 Sep, 2025
Mumbai
Stocks in Mumbai gained on Friday and extended weekly advances for the second consecutive week in a row.
The Sensex and Nifty indexes advanced 0.4%, and they increased more than 1% amid hopes of higher holiday sales following the deep GST reforms.
India's benchmark indexes advanced in four of the past five weeks, after falling for the previous six consecutive weeks.
Investors cheered the Goods and Services Tax restructuring and other tax collection and refund simplification steps ahead of the critical holiday season.
India's consumer price inflation is likely to stay near 2.1%, towards the bottom end of the range set by the Reserve Bank of India.
The statistical bureau is scheduled to release its monthly update later today.
Despite the elevated trade tensions with the U.S., investors held out for a conclusion of trade talks in the near future following positive comments by a White House official.
India Indexes and Stocks
The Sensex index edged up 0.4% to 81,904.03, and the Nifty index advanced 0.4% to 25,111.55.
Infosys Ltd. increased 1.2% to ₹1,528.30, and the company's board approved its largest-ever stock repurchase program worth ₹18,000 crore.
JSW Energy Ltd. increased 0.8% to ₹525.55 following the company's announcement that it commissioned a 317 MW renewable energy plant in August.
Insolation Energy Ltd. increased 1% to ₹198.90 after the company won a solar module order worth ₹143.20 crore.
Asian Paints Ltd. decreased 0.5% to ₹2,543.0, and the Mumbai High Court dismissed its plea against an antitrust inquiry.
India Indexes Rebounded to Three-Week Highs
Arjun Pandit
12 Sep, 2025
Mumbai
Stocks in Mumbai gained on Friday and extended weekly advances for the second consecutive week in a row.
The Sensex and Nifty indexes advanced 0.4%, and they increased more than 1% amid hopes of higher holiday sales following the deep GST reforms.
India's benchmark indexes advanced in four of the past five weeks, after falling for the previous six consecutive weeks.
Investors cheered the Goods and Services Tax restructuring and other tax collection and refund simplification steps ahead of the critical holiday season.
India's consumer price inflation is likely to stay near 2.1%, towards the bottom end of the range set by the Reserve Bank of India.
The statistical bureau is scheduled to release its monthly update later today.
Despite the elevated trade tensions with the U.S., investors held out for a conclusion of trade talks in the near future following positive comments by a White House official.
India Indexes and Stocks
The Sensex index edged up 0.4% to 81,904.03, and the Nifty index advanced 0.4% to 25,111.55.
Infosys Ltd. increased 1.2% to ₹1,528.30, and the company's board approved its largest-ever stock repurchase program worth ₹18,000 crore.
JSW Energy Ltd. increased 0.8% to ₹525.55 following the company's announcement that it commissioned a 317 MW renewable energy plant in August.
Insolation Energy Ltd. increased 1% to ₹198.90 after the company won a solar module order worth ₹143.20 crore.
Asian Paints Ltd. decreased 0.5% to ₹2,543.0, and the Mumbai High Court dismissed its plea against an antitrust inquiry.
Japan's Indexes Closed at New Highs Following Records On Wall Street
Akira Ito
12 Sep, 2025
Washington, D.C.
Japan's market indexes advanced on Friday and extended weekly gains, tracking the advances in overnight trading in New York.
The Nikkei 225 Stock Average increased 1%, and the Topix gained 0.5%, and they advanced 4% and 2% after a week of trading, respectively.
Benchmark indexes in Tokyo followed the U.S. markets higher amid rising expectations that the Federal Reserve is more likely to cut rates at the end of the two-day policy meeting on September 18.
Consumer price inflation accelerated to a seven-month high of 2.9% in August from 2.7% in the previous month, but the core rate of inflation held steady at 3.1%.
Meanwhile, initial jobless claims rose 27,000 to 263,000 at the end of the first week in September, and continuing claims held steady at 1.94 million, the U.S. Department of Labor reported on Thursday.
The rapidly slowing job market expansion and elevated inflation complicated policymakers' task, but investors held out for a rate cut of at least 25 basis points next week.
Closer to home, the Bank of Japan is likely to continue raising rates at a gradual pace, and investors weighed growing political uncertainty after the sudden resignation of Prime Minister Shigeru Ishiba.
Japan Indexes and Stocks
The Nikkei 225 Stock Average advanced 1% to 44,821.43, and the broader Topix added 0.5% to 3,163.83.
Tokyo Electron Ltd. rose 4.9% to ¥22,460.0, Advantest Corp. gained 2% to ¥13,980.0, and Lasertec increased 0.4% to ¥16,660.0.
Nippon Yusen K.K. decreased 0.4% to ¥5,564.0, Mitsui O.S.K. Lines declined 0.2% to ¥4,839.0, and Kawasaki Kisen Kaisha added 0.4% to ¥2,333.0.
Marubeni Corp. increased 0.6% to ¥3,520.0, Mitsubishi Corp. edged up 0.4% to ¥3,456.0, Sumitomo Corp. gained 0.2% to ¥4,332.0, and Itochu Corp. edged up 0.04% to ¥8,569.0.