Market Update
China Indexes Scale New Multi-Year Highs, Hong Kong Exchange Stays Open During Super Typhoon Ragasa
Li Chen
24 Sep, 2025
Hong Kong
Stocks in China and Hong Kong advanced on hopes that policymakers may announce steps to stimulate economic growth.
The Hang Seng index increased 0.7%, and the mainland-focused CSI 300 index gained 0.5% amid hopes that policymakers are more likely to deliver fiscal stimulus.
Investors have been drumming for government stimulus for the last three months, following mixed macroeconomic data.
Consumer confidence remains shaky amid persistent declines in the residential market and a weak urban labor market, with youth unemployment staying above 25%.
The Hong Kong Stock Exchange remained open for the first time as the city dealt with the No. 10 storm level.
Super Typhoon Ragasa passed through the South China region in the early afternoon, after lashing Hong Kong with strong winds and heavy showers.
The stock exchange operated normal hours after the city implemented a severe weather system last September, providing a fault-tolerant system for seamless trading under inclement weather conditions.
China Indexes and Stocks
The Hang Seng Index rebounded 0.7% to 26,358.89, and the CSI 300 index edged up 0.5% to 4,541.89.
Property developers advanced after the Super Typhoon Ragasa passed Hong Kong with little damage.
China Overseas Land & Investment edged up 0.3% to HK$13.86, Longfor Group Holding increased 0.5% to HK$11.28, China Vanke gained 1.5% to HK$5.47, and Sun Hung Kai Properties decreased 0.2% to HK$92.30.
Alibaba Group Holding increased 5.6% to HK$168.90, Tencent Holdings gained 1.7% to HK$643.0, and JD.com Inc. added 2.2% to HK$131.20.
China Indexes Scale New Multi-Year Highs, Hong Kong Exchange Stays Open During Super Typhoon Ragasa
Li Chen
24 Sep, 2025
Hong Kong
Stocks in China and Hong Kong advanced on hopes that policymakers may announce steps to stimulate economic growth.
The Hang Seng index increased 0.7%, and the mainland-focused CSI 300 index gained 0.5% amid hopes that policymakers are more likely to deliver fiscal stimulus.
Investors have been drumming for government stimulus for the last three months, following mixed macroeconomic data.
Consumer confidence remains shaky amid persistent declines in the residential market and a weak urban labor market, with youth unemployment staying above 25%.
The Hong Kong Stock Exchange remained open for the first time as the city dealt with the No. 10 storm level.
Super Typhoon Ragasa passed through the South China region in the early afternoon, after lashing Hong Kong with strong winds and heavy showers.
The stock exchange operated normal hours after the city implemented a severe weather system last September, providing a fault-tolerant system for seamless trading under inclement weather conditions.
China Indexes and Stocks
The Hang Seng Index rebounded 0.7% to 26,358.89, and the CSI 300 index edged up 0.5% to 4,541.89.
Property developers advanced after the Super Typhoon Ragasa passed Hong Kong with little damage.
China Overseas Land & Investment edged up 0.3% to HK$13.86, Longfor Group Holding increased 0.5% to HK$11.28, China Vanke gained 1.5% to HK$5.47, and Sun Hung Kai Properties decreased 0.2% to HK$92.30.
Alibaba Group Holding increased 5.6% to HK$168.90, Tencent Holdings gained 1.7% to HK$643.0, and JD.com Inc. added 2.2% to HK$131.20.
U.S. Stocks Struggle at Record Highs As Federal Government Shutdown Looms
Barry Adams
23 Sep, 2025
New York City
Benchmark indexes in New York edged slightly lower on Tuesday, and investors continued to pile into artificial intelligence trades.
The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite declined 0.2% amid ongoing geopolitical and U.S. trade policy uncertainties.
Popular benchmark indexes extended the five-month rally, and the indexes reached new record highs after the president backed down from his threat of sky-high tariffs.
However, hundreds of thousands of businesses are at or near breaking point because of the tariff whiplash.
The Trump administration has kept elevated tariff rates for India, China, Brazil, Canada, and Mexico and imposed punitive fees for work visas.
Moreover, the U.S. federal government is heading for a shutdown at the end of the month after the Senate rejected temporary financing proposals by the Republican and Democratic lawmakers.
The extended federal government shutdown could affect payment to employees, contractors, military staff and soldiers, and social security benefits.
U.S. Stock Movers
Nvidia Corp. jumped 3.9% to $183.61 after the chipmaker announced its plan to invest as much as $100 billion in OpenAIfor the construction of data centers.
Electric power companies traded higher as the rising demand from the artificial intelligence-driven data centers fueled enthusiasm.
Constellation Energy Corp. advanced 3.9% to $347.12, Vistra Energy added 3.2% to $217.92, and Oklo Inc. soared 3.8% to $140.30.
Firefly Aerospace plunged 9.6% to $44.75 after the spacecraft vehicle builder reported a wider loss and a decline in revenue in its fiscal second quarter.
AutoZone Inc. decreased 2.9% to $4,000.0, and the specialty retailer reported financial results for the fiscal fourth quarter ending on August 30.
Net sales declined 0.6% to $6.2 billion, net income fell to $837.0 million compared to $902.2 million, and diluted earnings per share decreased 5.6% to $48.71 from $51.58 a year ago, respectively.
Overall, same-store sales increased 4.5%, driven by a 4.8% rise at domestic stores and 2.1% at international locations.
U.S. Stocks Struggle at Record Hig As Federal Government Shutdown Looms
Barry Adams
23 Sep, 2025
New York City
Benchmark indexes in New York edged slightly lower on Tuesday, and investors continued to pile into artificial intelligence trades.
The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite declined 0.2% amid ongoing geopolitical and U.S. trade policy uncertainties.
Popular benchmark indexes extended the five-month rally, and the indexes reached new record highs after the president backed down from his threat of sky-high tariffs.
However, hundreds of thousands of businesses are at or near breaking point because of the tariff whiplash.
The Trump administration has kept elevated tariff rates for India, China, Brazil, Canada, and Mexico and imposed punitive fees for work visas.
Moreover, the U.S. federal government is heading for a shutdown at the end of the month after the Senate rejected temporary financing proposals by the Republican and Democratic lawmakers.
The extended federal government shutdown could affect payment to employees, contractors, military staff and soldiers, and social security benefits.
U.S. Stock Movers
Nvidia Corp. jumped 3.9% to $183.61 after the chipmaker announced its plan to invest as much as $100 billion in OpenAIfor the construction of data centers.
Electric power companies traded higher as the rising demand from the artificial intelligence-driven data centers fueled enthusiasm.
Constellation Energy Corp. advanced 3.9% to $347.12, Vistra Energy added 3.2% to $217.92, and Oklo Inc. soared 3.8% to $140.30.
Firefly Aerospace plunged 9.6% to $44.75 after the spacecraft vehicle builder reported a wider loss and a decline in revenue in its fiscal second quarter.
AutoZone Inc. decreased 2.9% to $4,000.0, and the specialty retailer reported financial results for the fiscal fourth quarter ending on August 30.
Net sales declined 0.6% to $6.2 billion, net income fell to $837.0 million compared to $902.2 million, and diluted earnings per share decreased 5.6% to $48.71 from $51.58 a year ago, respectively.
Overall, same-store sales increased 4.5%, driven by a 4.8% rise at domestic stores and 2.1% at international locations.
China and Hong Kong Indexes Succumbed to Profit-Taking Activities
Li Chen
23 Sep, 2025
Hong Kong
Stock market indexes in China and Hong Kong declined after regulators showed little urgency for a stimulus in the imminent future.
The Hang Seng Index declined 1%, and the CSI 300 Index dropped 1.2% as hopes of monetary stimulus receded following comments from the PBOC governor Pan Gongsheng.
Governor Gongsheng and regulators from the foreign exchange, securities, and banking sectors at an event reviewed the progress in growing the financial sector over the past five years.
Governor Gongsheng's comments focused on balancing economic growth with stability, and he remained confident that the central bank has adequate tools to manage the broader economy.
The central bank head's tone showed little urgency in providing additional economic stimulus, as the economy is set to achieve an annual growth rate of 5%, despite international trade headwinds.
China Indexes and Stocks
The Hang Seng Index decreased 1% to 26,095.10, and the mainland-focused CSI 300 index fell 1.2% to 4,469.01.
Stocks faced a sell-off following a sharp rally over the last eight weeks, and investors booked profit ahead of the start of the earnings season in three weeks.
The stock market exchanges in Hong Kong and Shenzhen are expected to remain open with normal operations as the typhoon-prone area awaits the arrival of Ragasa, the strongest storm since 2018.
Baidu Inc. decreased 7.3% to HK$125.70, Alibaba Group Holding declined 1% to HK$158.20, and Tencent Holdings dropped 1.2% to HK$634.00.
New Oriental Education & Technology increased 1% to HK$40.26, Bank of China edged higher 0.2% to HK$4.29, and Citic Ltd. gained 1.2% to HK$11.50.
China and Hong Kong Indexes Succumbed to Profit-Taking Activities
Li Chen
23 Sep, 2025
Hong Kong
Stock market indexes in China and Hong Kong declined after regulators showed little urgency for a stimulus in the imminent future.
The Hang Seng Index declined 1%, and the CSI 300 Index dropped 1.2% as hopes of monetary stimulus receded following comments from the PBOC governor Pan Gongsheng.
Governor Gongsheng and regulators from the foreign exchange, securities, and banking sectors at an event reviewed the progress in growing the financial sector over the past five years.
Governor Gongsheng's comments focused on balancing economic growth with stability, and he remained confident that the central bank has adequate tools to manage the broader economy.
The central bank head's tone showed little urgency in providing additional economic stimulus, as the economy is set to achieve an annual growth rate of 5%, despite international trade headwinds.
China Indexes and Stocks
The Hang Seng Index decreased 1% to 26,095.10, and the mainland-focused CSI 300 index fell 1.2% to 4,469.01.
Stocks faced a sell-off following a sharp rally over the last eight weeks, and investors booked profit ahead of the start of the earnings season in three weeks.
The stock market exchanges in Hong Kong and Shenzhen are expected to remain open with normal operations as the typhoon-prone area awaits the arrival of Ragasa, the strongest storm since 2018.
Baidu Inc. decreased 7.3% to HK$125.70, Alibaba Group Holding declined 1% to HK$158.20, and Tencent Holdings dropped 1.2% to HK$634.00.
New Oriental Education & Technology increased 1% to HK$40.26, Bank of China edged higher 0.2% to HK$4.29, and Citic Ltd. gained 1.2% to HK$11.50.
Tech Stocks Under Pressure After Trump Sets Prohibitive Work Visa Fees
Barry Adams
22 Sep, 2025
New York City
Benchmark indexes in New York edged down, and gold soared to a new record high on Monday.
The S&P 500 index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.2%, following the advance in three consecutive previous weeks.
The Federal Reserve delivered a widely anticipated 25 basis-point rate cut and signaled possible additional rate cuts before the year's end.
The Fed's move was widely anticipated amid growing signs of a slowing labor market driven by reverse immigration and Trump's tariff whiplash.
Farmers on the West Coast are struggling to find workers to pick harvest following the ICE crackdown, and corn and soybean crop growers in the Midwest are worried about the loss of their largest export market, China.
Farmers in the past have voiced their strong opposition to any kind of government handout to other sectors of the economy, but they are now demanding a government bailout to the tune of $25 billion.
Moreover, most of the soybean, corn, and wheat production ends up in export markets, led by demand from China.
This week, U.S. investors are awaiting housing market updates, durable goods orders, personal income and spending data, and comments from various Federal Reserve officials.
August's sales of new homes are expected to hover near an annual rate of 650,000 and existing homes at 4 million, respectively.
The PCE price index, the Fed's preferred measure of inflation, is expected to show contained but resurgent inflation closer to an annual rate of 3%.
Durable goods orders are expected to decrease by 0.4%, the third consecutive month of decline.
On the earnings front, investors are looking forward to the release of quarterly results from AutoZone, Accenture, BlackBerry, CarMax, Costco, KB Home, Jabil Inc., MillerKnoll, THOR Industries, and Raymond James Financial.
U.S. Stock Movers
Kenvue Inc. decreased 4.7% to $17.49 after a report by The Washington Post suggested that the Trump administration is likely to announce that the Tylenol use among pregnant women is possibly linked to autism.
Pfizer Inc. increased 1.7% to $24.44, and the pharmaceutical company announced it would acquire weight-loss drugmaker Metsera Inc. for $4.9 billion in cash.
Metsera soared 60% to $53.45 in Monday's trading.
India-based tech services companies fell sharply after the U.S. president imposed a one-time fee of $100,000 on the H-1B visa, threatening to undermine the global competitiveness of U.S. technology companies.
Infosys Ltd. decreased 3.4% to $16.90, Wipro Ltd. dropped 2.1% to $2.74, and Cognizant Technology Solutions Corp. dropped 3% to $64.25.
Compass Inc. dropped 10.4% to $8.40, and the company agreed to merge with Anywhere Real Estate Inc. in a $10 billion combination of 34,000 real estate agents.
Anywhere Real Estate soared 59% to $11.49 in New York trading.
Oracle Corp. decreased 0.6% to $306.82, and the company announced leadership changes.
The software company appointed Clay Magouyrk and Mike Sicilia as Chief Executive Officers, with current CEO Safra Catz transitioning to Executive Vice Chair of the company’s Board of Directors.
Tech Stocks Under Pressure After Trump Sets Prohibitive Work Visa Fees
Barry Adams
22 Sep, 2025
New York City
Benchmark indexes in New York edged down, and gold soared to a new record high on Monday.
The S&P 500 index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.2%, following the advance in three consecutive previous weeks.
The Federal Reserve delivered a widely anticipated 25 basis-point rate cut and signaled possible additional rate cuts before the year's end.
The Fed's move was widely anticipated amid growing signs of a slowing labor market driven by reverse immigration and Trump's tariff whiplash.
Farmers on the West Coast are struggling to find workers to pick harvest following the ICE crackdown, and corn and soybean crop growers in the Midwest are worried about the loss of their largest export market, China.
Farmers in the past have voiced their strong opposition to any kind of government handout to other sectors of the economy, but they are now demanding a government bailout to the tune of $25 billion.
Moreover, most of the soybean, corn, and wheat production ends up in export markets, led by demand from China.
This week, U.S. investors are awaiting housing market updates, durable goods orders, personal income and spending data, and comments from various Federal Reserve officials.
August's sales of new homes are expected to hover near an annual rate of 650,000 and existing homes at 4 million, respectively.
The PCE price index, the Fed's preferred measure of inflation, is expected to show contained but resurgent inflation closer to an annual rate of 3%.
Durable goods orders are expected to decrease by 0.4%, the third consecutive month of decline.
On the earnings front, investors are looking forward to the release of quarterly results from AutoZone, Accenture, BlackBerry, CarMax, Costco, KB Home, Jabil Inc., MillerKnoll, THOR Industries, and Raymond James Financial.
U.S. Stock Movers
Kenvue Inc. decreased 4.7% to $17.49 after a report by The Washington Post suggested that the Trump administration is likely to announce that the Tylenol use among pregnant women is possibly linked to autism.
Pfizer Inc. increased 1.7% to $24.44, and the pharmaceutical company announced it would acquire weight-loss drugmaker Metsera Inc. for $4.9 billion in cash.
Metsera soared 60% to $53.45 in Monday's trading.
India-based tech services companies fell sharply after the U.S. president imposed a one-time fee of $100,000 on the H-1B visa, threatening to undermine the global competitiveness of U.S. technology companies.
Infosys Ltd. decreased 3.4% to $16.90, Wipro Ltd. dropped 2.1% to $2.74, and Cognizant Technology Solutions Corp. dropped 3% to $64.25.
Compass Inc. dropped 10.4% to $8.40, and the company agreed to merge with Anywhere Real Estate Inc. in a $10 billion combination of 34,000 real estate agents.
Anywhere Real Estate soared 59% to $11.49 in New York trading.
Oracle Corp. decreased 0.6% to $306.82, and the company announced leadership changes.
The software company appointed Clay Magouyrk and Mike Sicilia as Chief Executive Officers, with current CEO Safra Catz transitioning to Executive Vice Chair of the company’s Board of Directors.
Japan Indexes Advanced Tracking Wall Street Gains, LDP Kicks Off Campaign for Leadership Race
Akira Ito
22 Sep, 2025
Tokyo
Japan's benchmark indexes advanced on Monday, tracking Friday's Wall Street gains to new record highs.
The Nikkei 225 Stock Average increased 1.4%, and the broader Topix advanced 0.8% after investors reviewed rate decisions from major central banks.
The Bank of Japan left its key short-term rate unrevised and signaled its plan to start selling the ETF and J-REIT holdings, which were accumulated over the years of unorthodox monetary policy.
The U.S. Federal Reserve lowered its key lending rate range by 25 basis points to between 4.0% and 4.25%, and the Bank of England kept its rate steady.
However, the Norges Bank lowered its policy rate by 25 basis points to 4.0%, and Norway's central bank signaled additional rate cuts if the broader economy evolves as projected.
In Japan, the Tokyo-area inflation rate, and in India, a private survey on business activities is on tap.
On the earnings front, Niitaka Co., New World Development, Asahi Co., and Mitachi Co. are scheduled to announce their interim results.
Elsewhere in Asia, the People's Bank of China held its loan prime rates steady at record lows for the fourth consecutive month in September. The one-year rate remained at 3.0%, and the five-year rate stayed at 3.5%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 1.4% to 45,688.93, and the broader Topix added 0.8% to 3,173.64.
Semiconductor equipment makers led Monday's gainers in Tokyo trading, after Apple Inc launched the latest version of iPhone in the U.S. and many other countries.
Tokyo Electron gained 4.7% to ¥26,805.0, Advantest Corp. increased 3.3% to ¥15,500.0, and Lasertec Corp. soared 11.5% to ¥21,405.0.
Nintendo Co. Ltd. increased 0.5% to ¥12,865.0, Sanrio Ld. decreased 0.4% to ¥6,758.0, and Fujikura Ltd. added 1.7% to ¥14,205.0.
Nippon Yusen KK decreased 1.6% to ¥5,360.0, Mitsui O.S.K. Lines dropped 2.2% to ¥4,672.0, and Kawasaki Kisen Kaisha Ltd. fell 2.7% to ¥2,220.50.
Japan Indexes Advanced Tracking Wall Street Gains, LDP Kicks Off Campaign for Leadership Race
Akira Ito
22 Sep, 2025
Tokyo
Japan's benchmark indexes advanced on Monday, tracking Friday's Wall Street gains to new record highs.
The Nikkei 225 Stock Average increased 1.4%, and the broader Topix advanced 0.8% after investors reviewed rate decisions from major central banks.
The Bank of Japan left its key short-term rate unrevised and signaled its plan to start selling the ETF and J-REIT holdings, which were accumulated over the years of unorthodox monetary policy.
The U.S. Federal Reserve lowered its key lending rate range by 25 basis points to between 4.0% and 4.25%, and the Bank of England kept its rate steady.
However, the Norges Bank lowered its policy rate by 25 basis points to 4.0%, and Norway's central bank signaled additional rate cuts if the broader economy evolves as projected.
In Japan, the Tokyo-area inflation rate, and in India, a private survey on business activities is on tap.
On the earnings front, Niitaka Co., New World Development, Asahi Co., and Mitachi Co. are scheduled to announce their interim results.
Elsewhere in Asia, the People's Bank of China held its loan prime rates steady at record lows for the fourth consecutive month in September. The one-year rate remained at 3.0%, and the five-year rate stayed at 3.5%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 1.4% to 45,688.93, and the broader Topix added 0.8% to 3,173.64.
Semiconductor equipment makers led Monday's gainers in Tokyo trading, after Apple Inc launched the latest version of iPhone in the U.S. and many other countries.
Tokyo Electron gained 4.7% to ¥26,805.0, Advantest Corp. increased 3.3% to ¥15,500.0, and Lasertec Corp. soared 11.5% to ¥21,405.0.
Nintendo Co. Ltd. increased 0.5% to ¥12,865.0, Sanrio Ld. decreased 0.4% to ¥6,758.0, and Fujikura Ltd. added 1.7% to ¥14,205.0.
Nippon Yusen KK decreased 1.6% to ¥5,360.0, Mitsui O.S.K. Lines dropped 2.2% to ¥4,672.0, and Kawasaki Kisen Kaisha Ltd. fell 2.7% to ¥2,220.50.