Market Update
Wall Street Indexes Extend Weekly Losses to 4% Amid Persistent Elevated Inflation Worries
Barry Adams
28 Mar, 2025
New York City
Stocks on Wall Street turned lower in Friday's trading and extended weekly losses after an alternative measure of inflation painted a mixed picture.
The S&P 500 index dropped as much as 1.5%, and the Nasdaq Composite declined 2% on the worry that persistent inflation is likely to delay future rate cuts.
The personal consumption expenditure price index in February remained steady at an annual pace of 2.5%, but the core measure of inflation accelerated to 2.8% from 2.7% in the previous month.
The watered-down measure of inflation used by the Federal Reserve understates inflation experienced by most families in urban locations because it takes into account consumer behavior to higher prices.
Despite the Fed's eleven rate hikes between 2022 and 2023, inflation is still persisting above the Fed's target rate of 2%.
With the ever-expanding list of new tariffs placed by the Trump administration, inflation is only going to pick up pace in the months ahead.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.3% to 5,676.68, the Nasdaq Composite edged down 0.5% to 17,720.69, and the Russell 2000 index was down 0.2% to 2,061.01.
The yield on 2-year Treasury notes edged lower to 3.98%, 10-year Treasury notes decreased to 4.31%, and 30-year Treasury bonds declined to 4.66%.
WTI crude oil decreased $0.11 to $69.84 a barrel, and natural gas prices edged lower by $0.005 to $3.92 a thermal unit.
Gold increased by $17.92 to $3,073.91 an ounce, and silver edged down by $0.02 to $34.42.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.06 to 104.28 and traded at a two-year high.
U.S. Stock Movers
Lululemon Athletica Inc. plunged 12.1% to $301.03, and the sports apparel retailer's results surpassed market expectations, but a weak outlook and tariff worries overshadowed the results.
Automobile makers turned lower on the worry that the Trump administration's tariffs are going to disrupt the global supply chain and increase the cost of operations.
Tesla decreased 2.9% to $265.26, General Motors dropped 2.5% to $45.99, and Ford Motor Company fell 2.9% to $9.69.
Braze Inc. jumped 7.4% to $39.34, and the customer engagement software company reported better-than-expected adjusted earnings in the fourth quarter.
NY Update
Barry Adams
28 Mar, 2025
New York City
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.3% to 5,676.68, the Nasdaq Composite edged down 0.5% to 17,720.69, and the Russell 2000 index was down 0.2% to 2,061.01.
The yield on 2-year Treasury notes edged lower to 3.98%, 10-year Treasury notes decreased to 4.31%, and 30-year Treasury bonds declined to 4.66%.
WTI crude oil decreased $0.11 to $69.84 a barrel, and natural gas prices edged lower by $0.005 to $3.92 a thermal unit.
Gold increased by $17.92 to 3,073.91 an ounce, and silver edged down by $0.02 to $34.42.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.06 to 104.28 and traded at a two-year high.
U.S. Stock Movers
NY Update
Barry Adams
28 Mar, 2025
New York City
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.3% to 5,676.68, the Nasdaq Composite edged down 0.5% to 17,720.69, and the Russell 2000 index was down 0.2% to 2,061.01.
The yield on 2-year Treasury notes edged lower to 3.98%, 10-year Treasury notes decreased to 4.31%, and 30-year Treasury bonds declined to 4.66%.
WTI crude oil decreased $0.11 to $69.84 a barrel, and natural gas prices edged lower by $0.005 to $3.92 a thermal unit.
Gold increased by $17.92 to 3,073.91 an ounce, and silver edged down by $0.02 to $34.42.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.06 to 104.28 and traded at a two-year high.
U.S. Stock Movers
European Markets Extend Weekly Losses to 2%, France's Inflation Holds Steady Below 1%
Bridgette Randall
28 Mar, 2025
London
European markets inched lower in Friday's trading amid growing worries of an intensifying trade war and resurgent inflation.
Benchmark indexes in Frankfurt and Paris declined, but in London edged higher, as investors feared that the U.S. would expand its import tax to additional industries.
For the week, the DAX index declined more than 2%, the CAC40 fell 1.7%, and the FTSE 100 edged up by 0.4%.
Investors have been on edge as the Trump administration followed through with its threats and imposed an import tax of 25% on vehicle imports.
The move strikes at the heart of the German industrial base and provides additional headwind to the struggling automotive industry amid rising global competition from the Chinese electric vehicle makers.
The impact of the newly announced 25% tariffs is unknown, as the industry struggles to understand how the import tax will be calculated and implemented.
Europe Indexes and Yields
The DAX index decreased by 0.6% to 22,537.62, the CAC-40 index edged lower 0.5% to 7,952.61, and the FTSE 100 index advanced by 0.2% to 8,680.02.
The yield on 10-year German bonds inched lower to 2.72%, French bonds decreased to 3.42%, the UK gilts moved down to 4.75%, and Italian bonds edged lower to 3.83%.
The euro decreased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was higher and traded at 88.21 Swiss cents.
Brent crude decreased $0.13 to $73.90 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €41.07 per MWh.
Europe Stock Movers
Ubisoft Entertainment SA increased 8.2% to €14.04 after the Chinese gaming studio and social media site company agreed to take a 25% stake in the company for €1.16 billion.
Deutsche Bank AG decreased 2.2% to €22.38, and the German bank agreed to extend CEO Christian Sewing 's contract to 2029.
The largest German bank also said that its deputy, James von Moltke, who has been chief financial officer since 2017, will leave the company at the end of his term next year.
Volkswagen AG decreased 1.8% to €97.48, Mercedes-Benz Group fell 1.2% to €55.78, and BMW declined 1.8% to €75.84.
For the week, the three leading German automakers fell about 5%.
European Markets Extend Weekly Losses to 2%, France's Inflation Holds Steady Below 1%
Inga Muller
28 Mar, 2025
Frankfurt
European markets inched lower in Friday's trading amid growing worries of an intensifying trade war and resurgent inflation.
Benchmark indexes in Frankfurt and Paris declined, but in London edged higher, as investors feared that the U.S. would expand its import tax to additional industries.
For the week, the DAX index declined more than 2%, the CAC40 fell 1.7%, and the FTSE 100 edged up by 0.4%.
Investors have been on edge as the Trump administration followed through with its threats and imposed an import tax of 25% on vehicle imports.
The move strikes at the heart of the German industrial base and provides additional headwind to the struggling automotive industry amid rising global competition from the Chinese electric vehicle makers.
The impact of the newly announced 25% tariffs is unknown, as the industry struggles to understand how the import tax will be calculated and implemented.
Europe Indexes and Yields
The DAX index decreased by 0.6% to 22,537.62, the CAC-40 index edged lower 0.5% to 7,952.61, and the FTSE 100 index advanced by 0.2% to 8,680.02.
The yield on 10-year German bonds inched lower to 2.72%, French bonds decreased to 3.42%, the UK gilts moved down to 4.75%, and Italian bonds edged lower to 3.83%.
The euro decreased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was higher and traded at 88.21 Swiss cents.
Brent crude decreased $0.13 to $73.90 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €41.07 per MWh.
Europe Stock Movers
Ubisoft Entertainment SA increased 8.2% to €14.04 after the Chinese gaming studio and social media site company agreed to take a 25% stake in the company for €1.16 billion.
Deutsche Bank AG decreased 2.2% to €22.38, and the German bank agreed to extend CEO Christian Sewing 's contract to 2029.
The largest German bank also said that its deputy, James von Moltke, who has been chief financial officer since 2017, will leave the company at the end of his term next year.
Volkswagen AG decreased 1.8% to €97.48, Mercedes-Benz Group fell 1.2% to €55.78, and BMW declined 1.8% to €75.84.
For the week, the three leading German automakers fell about 5%.
U.S. Movers: Haier Smart Home, Li Ning Co., Lululemon
Scott Peters
28 Mar, 2025
New York City
Lululemon Athletica Inc. plunged 12.1% to $301.03, and the sports apparel retailer's results surpassed market expectations, but a weak outlook and tariff worries overshadowed the results.
Revenue increased to $3.6 billion from $3.2 billion a year ago, net income jumped to $748.4 million from $669.45 million, and diluted earnings per share rose to $6.14 from $5.29 a year ago.
Improved results were driven by higher net revenue in all company segments: Americas, China, and the rest of the world.
Global comparable sales increased 3%, or 4% on a constant dollar basis.
Sales in the Americas region increased 7%, or 8% on a constant dollar basis, with comparable sales remaining flat in the quarter.
Sales in China surged 46%, or 48% on a constant dollar basis, with comparable sales advancing 26%, or 27% on a constant dollar basis.
Lululemon guided for fiscal 2025 revenue to be between $11.15 billion and $11.30 billion, or growth of only 5% to 7%, compared to $10.59 billion in 2024.
Diluted earnings per share are expected to be between $14.95 and $15.15 per share for the year, compared to $14.64 per share in 2024.
For the first quarter of 2025, the company estimated net revenue to be between $2.33 billion and $2.35 billion, or growth of 6% to 7%, compared to $2.21 billion a year ago, and diluted earnings per share between $2.53 and $2.58, compared to $2.54 in the same quarter a year ago.
China's net revenue was $425.0 million, or 12% of total revenue, compared to $290.7 million, or 9% of total revenue, in the fourth quarter of 2023.
Lululemon opened 13 new stores in China during the quarter, three net new stores in the Americas, and two new stores in its rest of the world segment.
Total company-operated stores at the end of the quarter increased to 747, compared to 711 for the same period in 2023.
During the quarter, the company repurchased 0.9 million shares for $332.2 million.
Li Ning Company ADR gained 0.9% to $54.55 after the Chinese sportswear company reported increased sales in 2024.
Revenue jumped 3.9% to 28.67 billion yuan from 27.60 billion yuan, profit declined 5.5% to 3.01 billion yuan from 3.19 billion yuan, and diluted earnings per share dropped to 116.52 yuan from 122.66 yuan a year ago.
“In terms of marketing, LI-NING YOUNG carefully planned a series of offline youth activities and cross-border collaborations, focusing on popular sports including basketball, football, running, and outdoor activities to showcase the brand’s diverse appeal,” the company said in a release to investors.
The company paid an interim dividend of 37.75 cents per share for 2024, compared to 36.20 cents per share in 2023.
The company proposed a final dividend of 20.73 cents per share, compared to 18.54 cents per share in 2023, payable on June 27 to shareholders on record as of June 19.
After the final dividend, Li Ning paid a total of 1.51 billion yuan, up from 1.43 billion yuan a year earlier.
Haier Smart Home ADR gained 2.1% to $13.79 after the Hong Kong-based home appliances provider reported results for 2024.
Operating revenue increased to 285.98 billion yuan from 274.20 billion yuan, net profit jumped to 18.74 billion yuan from 16.60 billion yuan, and diluted earnings per share rose to 2.02 yuan from 1.78 yuan a year ago.
U.S. Movers: Haier Smart Home, Li Ning Co., Lululemon
Scott Peters
28 Mar, 2025
New York City
Lululemon reported strong results in the fourth quarter, but guidance disappointed investors. Li Ning Co. raised its final dividend after increased sales in 2024. Haier Smart Home reported higher sales and earnings for 2024.
Lululemon Athletica Inc. plunged 12.1% to $301.03, and the sports apparel retailer's results surpassed market expectations, but a weak outlook and tariff worries overshadowed the results.
Revenue increased to $3.6 billion from $3.2 billion a year ago, net income jumped to $748.4 million from $669.45 million, and diluted earnings per share rose to $6.14 from $5.29 a year ago.
Improved results were driven by higher net revenue in all company segments: Americas, China, and the rest of the world.
Global comparable sales increased 3%, or 4% on a constant dollar basis.
Sales in the Americas region increased 7%, or 8% on a constant dollar basis, with comparable sales remaining flat in the quarter.
Sales in China surged 46%, or 48% on a constant dollar basis, with comparable sales advancing 26%, or 27% on a constant dollar basis.
China's net revenue was $425.0 million, or 12% of total revenue, compared to $290.7 million, or 9% of total revenue, in the fourth quarter of 2023.
Lululemon opened 13 new stores in China during the quarter, three net new stores in the Americas, and two new stores in its rest of the world segment.
Total company-operated stores at the end of the quarter increased to 747, compared to 711 for the same period in 2023.
During the quarter, the company repurchased 0.9 million shares for $332.2 million.
Li Ning Company ADR gained 0.9% to $54.55 after the Chinese sportswear company reported increased sales in 2024.
Revenue jumped 3.9% to 28.67 billion yuan from 27.60 billion yuan, profit declined 5.5% to 3.01 billion yuan from 3.19 billion yuan, and diluted earnings per share dropped to 116.52 yuan from 122.66 yuan a year ago.
“In terms of marketing, LI-NING YOUNG carefully planned a series of offline youth activities and cross-border collaborations, focusing on popular sports including basketball, football, running, and outdoor activities to showcase the brand’s diverse appeal,” the company said in a release to investors.
The company paid an interim dividend of 37.75 cents per share for 2024, compared to 36.20 cents per share in 2023.
The company proposed a final dividend of 20.73 cents per share, compared to 18.54 cents per share in 2023, payable on June 27 to shareholders on record as of June 19.
After the final dividend, Li Ning paid a total of 1.51 billion yuan, up from 1.43 billion yuan a year earlier.
Haier Smart Home ADR gained 2.1% to $13.79 after the Hong Kong-based home appliances provider reported results for 2024.
Operating revenue increased to 285.98 billion yuan from 274.20 billion yuan, net profit jumped to 18.74 billion yuan from 16.60 billion yuan, and diluted earnings per share rose to 2.02 yuan from 1.78 yuan a year ago.
Japan Indexes Extend Weekly Losses After Automakers Face Higher U.S. Tariffs, Tokyo CPI Accelerates In March
Akira Ito
28 Mar, 2025
Tokyo
Stock market indexes in Japan fell in Friday's trading and extended weekly losses after the export-driven Japanese economy faced additional U.S. tariffs.
The Nikkei 225 Stock Average dropped nearly 2%, and the broader TOPIX fell 2% after the U.S. slapped 25% tariffs on all vehicle imports.
The tariff announcements earlier in the week dragged down automobile makers and automotive parts makers.
Investors are worried that the Trump administration is likely to expand its list of tariffs to pharmaceuticals, electronic parts, and chemicals.
On the economic front, Tokyo-area inflation in March advanced because of higher food prices, the Ministry of Internal Affairs reported Friday.
Tokyo area CPI accelerated to 2.4% from 2.2% in February, and the index does not include fresh food prices.
The index advanced above 2% for the fifth month in a row, largely because of an 89% jump in the price of rice, the highest since record keeping began in 1971.
The Tokyo area inflation is considered a leading indicator of nationwide inflation, and the index is scheduled to be released on April 18.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 1.8% to 37,120.33, and the broader TOPIX index dropped 2% to 2,757.25.
Both indexes extended weekly losses to over 1.5%.
Toyota Motor dropped 2.8% to ¥2,700.50, Honda Motor declined 2.6% to ¥1,385.0, and Nissan Motor fell 0.3% to ¥1,385.0.
Tokyo Electron declined 2% to ¥21,525.0, Advantest Corp. dropped 4% to ¥7,008.0, and Disco Corp. fell 1.9% to ¥32,630.0.
Japan Indexes Extend Weekly Losses After Automakers Face Higher U.S. Tariffs, Tokyo CPI Accelerates In March
Akira Ito
28 Mar, 2025
Tokyo
Stock market indexes in Japan fell in Friday's trading and extended weekly losses after the export-driven Japanese economy faced additional U.S. tariffs.
The Nikkei 225 Stock Average dropped nearly 2%, and the broader TOPIX fell 2% after the U.S. slapped 25% tariffs on all vehicle imports.
The tariff announcements earlier in the week dragged down automobile makers and automotive parts makers.
Investors are worried that the Trump administration is likely to expand its list of tariffs to pharmaceuticals, electronic parts, and chemicals.
On the economic front, Tokyo-area inflation in March advanced because of higher food prices, the Ministry of Internal Affairs reported Friday.
Tokyo area CPI accelerated to 2.4% from 2.2% in February, and the index does not include fresh food prices.
The index advanced above 2% for the fifth month in a row, largely because of an 89% jump in the price of rice, the highest since record keeping began in 1971.
The Tokyo area inflation is considered a leading indicator of nationwide inflation, and the index is scheduled to be released on April 18.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 1.8% to 37,120.33, and the broader TOPIX index dropped 2% to 2,757.25.
Both indexes extended weekly losses to over 1.5%.
Toyota Motor dropped 2.8% to ¥2,700.50, Honda Motor declined 2.6% to ¥1,385.0, and Nissan Motor fell 0.3% to ¥1,385.0.
Tokyo Electron declined 2% to ¥21,525.0, Advantest Corp. dropped 4% to ¥7,008.0, and Disco Corp. fell 1.9% to ¥32,630.0.
China Corporations Step Up Secondary Offerings, Hang Seng Index Extends Weekly Loss to 1%
Li Chen
28 Mar, 2025
Hong Kong
Stock market indexes in China and Hong Kong headed lower amid worries about the looming U.S. tariffs and weak corporate sentiment.
The Hang Seng index declined more than 1%, and the mainland-focused CSI 300 index fell 0.4%, and they declined 1% and 0.5% for the week, respectively.
Investors have been on edge amid uncertainty about U.S. trade policy and ongoing geopolitical tensions rooted in the Russia-Ukraine conflict.
Moreover, market sentiment weakened after electric vehicle maker Nio announced its plans to raise additional capital from shareholders, and Haier Smart reported weaker than expected full-year results.
Li Ning and Hansoh Pharma reported results that surpassed market expectations.
Li Ning increased 1.5% to HK $17.36, and Hansoh Pharmaceutical Group jumped 6.3% to HK $23.55.
China Indexes and Stocks
The Hang Seng index decreased 1.1% to 23,314.83, and the mainland-focused CSI 300 index fell 0.4% to 3,917.01.
NIO Inc. declined 7.3% to HK $30.20, and the electric vehicle maker set its secondary offering price at a 10% discount to HK $29.46 per share.
Banks were in focus ahead of results from ICBC and China Construction Bank.
ICBC decreased 0.7% to HK $5.50, and China Construction Bank fell 0.6% to HK $6.71.
India Movers: Ajanta Pharma, Banaras Beads, Dodla Dairy, CARE Ratings, Indo National, Hester Biosciences, Gulshan Polyols, Alankit
Arun Goswami
28 Mar, 2025
Mumbai
Ajanta Pharma Ltd. fell 0.6% to ₹2,616 despite the pharmaceutical company reporting a slight increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹1,176.6 crore from ₹1,118.7 crore, net income jumped to ₹232.9 crore from ₹210 crore, and diluted earnings per share rose to ₹18.59 from ₹16.67 a year ago.
Banaras Beads Limited gained 0.9% to ₹123.5 after the handicraft items maker reported a 19% increase in net income in the December quarter.
Consolidated revenue advanced to ₹231.5 crore from ₹194.7 crore, after-tax profit increased to ₹74.1 crore from ₹62.4 crore, and diluted earnings per share rose to ₹6.97 from ₹20.11 a year ago.
Dodla Dairy Limited edged higher 1.8% to ₹1,151.50 after the milk products maker reported profit soared 54% in the fiscal third quarter.
Consolidated revenue advanced to ₹912.2 crore from ₹752.5 crore, net income increased to ₹63.5 crore from ₹41.3 crore, and diluted earnings per share rose to ₹10.54 from ₹6.88 a year ago.
The company's board declared a second interim dividend of ₹3 per share.
CARE Ratings Ltd. inched higher 4.4% to ₹1,147.25 after the credit rating agency reported an 18% rise in its earnings in the latest quarter.
Consolidated revenue advanced to ₹108.2 crore from ₹92.4 crore, after-tax profit increased to ₹28.4 crore from ₹23.9 crore, and diluted earnings per share rose to ₹9.24 from ₹7.85 a year ago.
Indo National Limited jumped 1.3% to ₹430.40 despite the dry cell battery maker swinging to a loss in the December quarter.
Consolidated revenue advanced to ₹123.4 crore from ₹171.1 crore, after-tax losses swung to ₹12.1 crore from a profit of ₹5.8 crore, and diluted losses per share swung to ₹16.09 from a profit of ₹4.59 a year ago.
Hester Biosciences Limited dropped 3.4% to ₹1,294.70 despite the animal healthcare companies reporting a two-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹71 crore from ₹68 crore, after-tax profit jumped to ₹11.8 crore from ₹4 crore, and diluted earnings per share rose to ₹13.41 from ₹4.73 a year ago.
Gulshan Polyols Ltd. advanced 2.2% to ₹181 after the multi-product manufacturing company reported a 46% jump in its earnings in the December quarter.
Consolidated revenue advanced to ₹610.5 crore from ₹374.1 crore, net income jumped to ₹6.7 crore from ₹4.6 crore, and diluted earnings per share rose to ₹1.08 from 74 paise a year ago.
Alankit Limited increased 3.1% to ₹14.53 after the e-governance and fintech service provider reported a slight increase in revenue and a 37% decline in profit in the December quarter.
Consolidated revenue advanced to ₹72.6 crore from ₹52.6 crore, after-tax profit decreased to ₹5.1 crore from ₹8.1 crore, and diluted earnings per share fell to 19 paisa from 36 paisa a year ago.
India Movers: Ajanta Pharma, Banaras Beads, Dodla Dairy, CARE Ratings, Indo National, Hester Biosciences, Gulshan Polyols, Alankit
Arun Goswami
28 Mar, 2025
Mumbai
Ajanta Pharma Ltd. fell 0.6% to ₹2,616 despite the pharmaceutical company reporting a slight increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹1,176.6 crore from ₹1,118.7 crore, net income jumped to ₹232.9 crore from ₹210 crore, and diluted earnings per share rose to ₹18.59 from ₹16.67 a year ago.
Banaras Beads Limited gained 0.9% to ₹123.5 after the handicraft items maker reported a 19% increase in net income in the December quarter.
Consolidated revenue advanced to ₹231.5 crore from ₹194.7 crore, after-tax profit increased to ₹74.1 crore from ₹62.4 crore, and diluted earnings per share rose to ₹6.97 from ₹20.11 a year ago.
Dodla Dairy Limited edged higher 1.8% to ₹1,151.50 after the milk products maker reported profit soared 54% in the fiscal third quarter.
Consolidated revenue advanced to ₹912.2 crore from ₹752.5 crore, net income increased to ₹63.5 crore from ₹41.3 crore, and diluted earnings per share rose to ₹10.54 from ₹6.88 a year ago.
The company's board declared a second interim dividend of ₹3 per share.
CARE Ratings Ltd. inched higher 4.4% to ₹1,147.25 after the credit rating agency reported an 18% rise in its earnings in the latest quarter.
Consolidated revenue advanced to ₹108.2 crore from ₹92.4 crore, after-tax profit increased to ₹28.4 crore from ₹23.9 crore, and diluted earnings per share rose to ₹9.24 from ₹7.85 a year ago.
Indo National Limited jumped 1.3% to ₹430.40 despite the dry cell battery maker swinging to a loss in the December quarter.
Consolidated revenue advanced to ₹123.4 crore from ₹171.1 crore, after-tax losses swung to ₹12.1 crore from a profit of ₹5.8 crore, and diluted losses per share swung to ₹16.09 from a profit of ₹4.59 a year ago.
Hester Biosciences Limited dropped 3.4% to ₹1,294.70 despite the animal healthcare companies reporting a two-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹71 crore from ₹68 crore, after-tax profit jumped to ₹11.8 crore from ₹4 crore, and diluted earnings per share rose to ₹13.41 from ₹4.73 a year ago.
Gulshan Polyols Ltd. advanced 2.2% to ₹181 after the multi-product manufacturing company reported a 46% jump in its earnings in the December quarter.
Consolidated revenue advanced to ₹610.5 crore from ₹374.1 crore, net income jumped to ₹6.7 crore from ₹4.6 crore, and diluted earnings per share rose to ₹1.08 from 74 paise a year ago.
Alankit Limited increased 3.1% to ₹14.53 after the e-governance and fintech service provider reported a slight increase in revenue and a 37% decline in profit in the December quarter.
Consolidated revenue advanced to ₹72.6 crore from ₹52.6 crore, after-tax profit decreased to ₹5.1 crore from ₹8.1 crore, and diluted earnings per share fell to 19 paisa from 36 paisa a year ago.
China Corporations Step Up Secondary Offerings, Hang Seng Index Extends Weekly Loss to 1%
Li Chen
28 Mar, 2025
Hong Kong
Stock market indexes in China and Hong Kong headed lower amid worries about the looming U.S. tariffs and weak corporate sentiment.
The Hang Seng index declined more than 1%, and the mainland-focused CSI 300 index fell 0.4%, and they declined 1% and 0.5% for the week, respectively.
Investors have been on edge amid uncertainty about U.S. trade policy and ongoing geopolitical tensions rooted in the Russia-Ukraine conflict.
Moreover, market sentiment weakened after electric vehicle maker Nio announced its plans to raise additional capital from shareholders, and Haier Smart reported weaker than expected full-year results.
Li Ning and Hansoh Pharma reported results that surpassed market expectations.
Li Ning increased 1.5% to HK $17.36, and Hansoh Pharmaceutical Group jumped 6.3% to HK $23.55.
China Indexes and Stocks
The Hang Seng index decreased 1.1% to 23,314.83, and the mainland-focused CSI 300 index fell 0.4% to 3,917.01.
NIO Inc. declined 7.3% to HK $30.20, and the electric vehicle maker set its secondary offering price at a 10% discount to HK $29.46 per share.
Banks were in focus ahead of results from ICBC and China Construction Bank.
ICBC decreased 0.7% to HK $5.50, and China Construction Bank fell 0.6% to HK $6.71.
Wall Street Stocks Remain Volatile After Trump Unleashes New Set of Tariffs and Threats
Barry Adams
27 Mar, 2025
New York City
Stock market indexes rebounded from the sharp decline at the start of the regular trading session amid ongoing Trump tariff turmoil.
Market indexes struggled to advance amid heightened anxieties and lingering uncertainties about the Trump administration's trade policy.
The White House announced a fresh set of tariffs targeting automobile makers in Europe and Asia and slapped 25% tariffs on all imported vehicles not made in the United States.
The vague announcement, which lacks details, released on a social media platform owned by the president of the United States, shed little light on how import taxes will be implemented beginning April 2.
The White House is hoping that the retaliatory tariffs will force five key trading partners—Canada, Mexico, the European Union, Japan, and China—to lower their trade barriers to import American goods.
On the economic front, the U.S. goods trade deficit narrowed to a $147.9 billion February from $155.6 billion in January, the U.S. Census Bureau reported Thursday.
Seasonally adjusted goods imports soared 22.5% from a year ago to $326.5 billion, and exports advanced 2.5% from a year ago to $178.6 billion.
The U.S. economy expanded at an annual pace of 2.4% in the fourth quarter, higher than the previous estimate of 2.3%, the U.S. Bureau of Economic Analysis reported Thursday.
The GDP growth was revised higher following the downward revision in the imports in the quarter.
Initial jobless claims for the week ending March 22 declined 1,000 to 224,000 and remained at historically low levels, according to the weekly update released by the U.S. Department of Labor.
Continuing claims , which lag by one week, during the week ending on March 15 eased by 25,000 to 1.86 million.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.4% to 5,688.75, the Nasdaq Composite edged down 0.5% to 17,805.94, and the Russell 2000 index was down 0.6% to 2,061.84.
The yield on 2-year Treasury notes edged lower to 4.02%, 10-year Treasury notes increased to 4.36%, and 30-year Treasury bonds advanced to 4.74%.
WTI crude oil decreased $0.42 to $69.23 a barrel, and natural gas prices edged higher by $0.01 to $3.88 a therm. unit.
Gold increased by $13.74 to $3,035.11 an ounce, and silver edged up by $0.10 to $33.75.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.15 to 104.40 and traded at a two-year high.
U.S. Stock Movers
General Motors declined 6.2% to $47.74, Tesla jumped 5.5% to $287.22, and Ford Motor Company fell 10% to $10.10.
Dollar Tree soared 10.5% to $76.44 after the discount store chain operator announced its plans to sell Family Dollar for $1 billion to a group of private equity investors.
Dollar Tree acquired Family Dollar about a decade ago for $9 billion, ending its disastrous merger with the larger company amid a surge in inflation affecting the core low-income customer base.
Wall Street Stocks Remain Volatile After Trump Unleashes New Set of Tariffs and Threats
Barry Adams
27 Mar, 2025
New York City
Stock market indexes rebounded from the sharp decline at the start of the regular trading session amid ongoing Trump tariff turmoil.
Market indexes struggled to advance amid heightened anxieties and lingering uncertainties about the Trump administration's trade policy.
The White House announced a fresh set of tariffs targeting automobile makers in Europe and Asia and slapped 25% tariffs on all imported vehicles not made in the United States.
The vague announcement, which lacks details, released on a social media platform owned by the president of the United States, shed little light on how import taxes will be implemented beginning April 2.
The White House is hoping that the retaliatory tariffs will force five key trading partners—Canada, Mexico, the European Union, Japan, and China—to lower their trade barriers to import American goods.
On the economic front, the U.S. goods trade deficit narrowed to a $147.9 billion February from $155.6 billion in January, the U.S. Census Bureau reported Thursday.
Seasonally adjusted goods imports soared 22.5% from a year ago to $326.5 billion, and exports advanced 2.5% from a year ago to $178.6 billion.
The U.S. economy expanded at an annual pace of 2.4% in the fourth quarter, higher than the previous estimate of 2.3%, the U.S. Bureau of Economic Analysis reported Thursday.
The GDP growth was revised higher following the downward revision in the imports in the quarter.
Initial jobless claims for the week ending March 22 declined 1,000 to 224,000 and remained at historically low levels, according to the weekly update released by the U.S. Department of Labor.
Continuing claims , which lag by one week, during the week ending on March 15 eased by 25,000 to 1.86 million.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.4% to 5,688.75, the Nasdaq Composite edged down 0.5% to 17,805.94, and the Russell 2000 index was down 0.6% to 2,061.84.
The yield on 2-year Treasury notes edged lower to 4.02%, 10-year Treasury notes increased to 4.36%, and 30-year Treasury bonds advanced to 4.74%.
WTI crude oil decreased $0.42 to $69.23 a barrel, and natural gas prices edged higher by $0.01 to $3.88 a therm. unit.
Gold increased by $13.74 to $3,035.11 an ounce, and silver edged up by $0.10 to $33.75.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.15 to 104.40 and traded at a two-year high.
U.S. Stock Movers
General Motors declined 6.2% to $47.74, Tesla jumped 5.5% to $287.22, and Ford Motor Company fell 10% to $10.10.
Dollar Tree soared 10.5% to $76.44 after the discount store chain operator announced its plans to sell Family Dollar for $1 billion to a group of private equity investors.
Dollar Tree acquired Family Dollar about a decade ago for $9 billion, ending its disastrous merger with the larger company amid a surge in inflation affecting the core low-income customer base.