Market Update
European Markets Soared 2% After Germany Plans to Raise Debt Limit and Accelerate Spending
Bridgette Randall
05 Mar, 2025
London
Stock market indexes in Europe soared, and bond yields advanced after German leaders agreed to raise the debt limit and step up infrastructure investment.
Benchmark indexes in Frankfurt jumped more than 3% and in Paris advanced 2% after political leaders worked out a framework to increase arms production and invest in faltering infrastructure and digitization.
Construction and defense stocks extended the rally after CDU party leader and presumed German chancellor Friedrich Merz announced a plan to invest €500 billion in building infrastructure and increasing defense production.
Heidelberg Materials soared 14.5% to €162.35, Hochtief AG jumped 12% to €170.70, and Rheinmetall AG advanced 3% to €1,154.0.
Bond yields in Frankfurt, Paris, and Milan rose sharply after the German political leaders agreed on a plan to increase borrowing to finance
The yield on 10-year German Bunds jumped 25 basis points to a 9-month high of 2.67%, and on the French government bonds advanced 21 basis points to 3.43%.
On the economic front, producer price inflation in the eurozone accelerated on a monthly and annual basis in January, according to data released by Eurostat.
Producer price inflation increased to 0.8% monthly in January, accelerating from 0.5% in December, driven by higher prices across all categories led by energy.
On an annual basis, inflation accelerated to 1.8% in January, higher than 0.1% in December, and advanced to the highest level since March 2023.
Europe Indexes and Yields
The DAX index increased by 3.4% to 23,080.66, the CAC-40 index edged higher 2.2% to 8,221.37, and the FTSE 100 index advanced by 0.8% to 8,830.48.
The yield on 10-year German bonds inched higher to 2.68%, French bonds increased to 3.35%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.69%.
The euro increased to $1.07; the British pound was higher at $1.28; and the U.S. dollar was lower and traded at 88.63 Swiss cents.
Brent crude decreased $0.43 to $70.60 a barrel, and the Dutch TTF natural gas was higher by €0.72 to €43.55 per MWh.
Europe Stock Movers
Beazley Plc rose 1.4% to 903.50 pence after the UK-based insurance company reported record pre-tax profit in 2024.
Bayer AG advanced 3.4% to €24.40, and the German chemical company signaled that the company may return to profit growth in the next year.
Adidas AG decreased 1.1% to €235.30, and the German sportswear company signaled a possible slowdown in sales growth in the current year following strong gains in 2024.
Schaeffler AG fell 1.3% to €4.55 after the German precision mobility parts and systems maker offered a gloomy sales outlook for 2025.
SCOR SE dropped 3.2% to €25.42, and the French insurance company said combined P&C ratio deteriorated to 83.1% in the fourth quarter, a rise of 7.5 percentage points compared to the previous year.
Flutter Entertainment PLC jumped 2.2% to 21,010.0 pence after the online gambling and sports betting company reported better-than-expected earnings in the fourth quarter.
European Markets Soared 2% After Germany Plans to Raise Debt Limit and Accelerate Spending
Bridgette Randall
05 Mar, 2025
London
Stock market indexes in Europe soared, and bond yields advanced after German leaders agreed to raise the debt limit and step up infrastructure investment.
Benchmark indexes in Frankfurt jumped more than 3% and in Paris advanced 2% after political leaders worked out a framework to increase arms production and invest in faltering infrastructure and digitization.
Construction and defense stocks extended the rally after CDU party leader and presumed German chancellor Friedrich Merz announced a plan to invest €500 billion in building infrastructure and increasing defense production.
Heidelberg Materials soared 14.5% to €162.35, Hochtief AG jumped 12% to €170.70, and Rheinmetall AG advanced 3% to €1,154.0.
Bond yields in Frankfurt, Paris, and Milan rose sharply after the German political leaders agreed on a plan to increase borrowing to finance
The yield on 10-year German Bunds jumped 25 basis points to a 9-month high of 2.67%, and on the French government bonds advanced 21 basis points to 3.43%.
On the economic front, producer price inflation in the eurozone accelerated on a monthly and annual basis in January, according to data released by Eurostat.
Producer price inflation increased to 0.8% monthly in January, accelerating from 0.5% in December, driven by higher prices across all categories led by energy.
On an annual basis, inflation accelerated to 1.8% in January, higher than 0.1% in December, and advanced to the highest level since March 2023.
Europe Indexes and Yields
The DAX index increased by 3.4% to 23,080.66, the CAC-40 index edged higher 2.2% to 8,221.37, and the FTSE 100 index advanced by 0.8% to 8,830.48.
The yield on 10-year German bonds inched higher to 2.68%, French bonds increased to 3.35%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.69%.
The euro increased to $1.07; the British pound was higher at $1.28; and the U.S. dollar was lower and traded at 88.63 Swiss cents.
Brent crude decreased $0.43 to $70.60 a barrel, and the Dutch TTF natural gas was higher by €0.72 to €43.55 per MWh.
Europe Stock Movers
Beazley Plc rose 1.4% to 903.50 pence after the UK-based insurance company reported record pre-tax profit in 2024.
Bayer AG advanced 3.4% to €24.40, and the German chemical company signaled that the company may return to profit growth in the next year.
Adidas AG decreased 1.1% to €235.30, and the German sportswear company signaled a possible slowdown in sales growth in the current year following strong gains in 2024.
Schaeffler AG fell 1.3% to €4.55 after the German precision mobility parts and systems maker offered a gloomy sales outlook for 2025.
SCOR SE dropped 3.2% to €25.42, and the French insurance company said combined P&C ratio deteriorated to 83.1% in the fourth quarter, a rise of 7.5 percentage points compared to the previous year.
Flutter Entertainment PLC jumped 2.2% to 21,010.0 pence after the online gambling and sports betting company reported better-than-expected earnings in the fourth quarter.
U.S. Movers: AeroVironment, CrowdStrike, Nordstrom, Target
Scott Peters
05 Mar, 2025
New York City
Nordstrom Inc. gained 0.6% to $24.39 after the full-line merchandise retailer surpassed analyst expectations in the fiscal fourth quarter ending on February 1 of 2025.
Net sales declined to $4.20 billion from $4.29 billion, net earnings increased to $165 million from $134 million, and earnings per diluted share jumped to 97 cents from 82 cents a year ago.
The company opened 23 stores during the year.
During the fourth quarter, Nordstrom closed one store and three Rack stores, and subsequent to the quarter-end, the company closed one local service hub, which will reopen as a storefront dedicated to personal styling.
Fourth-quarter total comparable sales increased 4.7%, banner comparable sales increased 5.3%, and rack comparable sales increased 3.5% versus fiscal 2023.
The company proposed a quarterly cash dividend of 19 cents per share, payable on March 26 to shareholders on record as of March 11.
AeroVironment Inc. plunged 20% to $113.50 after the provider of robotic systems to defense and commercial customers reported results for the fiscal third quarter of 2025.
Revenue declined to $139.75 million from $155.92 million, net income swung to a loss of $1.75 million from a profit of $13.88 million, and net loss per diluted share was 6 cents compared to a profit of 50 cents a year ago.
The company guided for fiscal 2025 revenue between $780 million and $795 million, compared to $716.7 million a year ago, and non-GAAP earnings per diluted share between $2.92 and $3.13, compared to 43 cents in 2024.
Non-GAAP adjusted EBITDA is estimated between $135 million and $142 million, compared to $22.2 million in 2024.
Target Corp. gained 0.4% to $117.61 after the large-format store chain operator reported fourth-quarter comparable sales growth of 1.5%, reflecting steady traffic and digital performance.
Net sales in the fourth quarter ending on February 1 dropped 3.1% to $30.91 billion from $31.92 billion, net earnings declined to $1.10 billion from $1.38 billion, and earnings per diluted share fell to $2.41 from $2.98 a year ago.
Fourth-quarter comparable sales advanced 1.5%, as digital comparable sales grew 8.7% from a year ago.
Same-day delivery powered by Target Circle 360™ grew more than 25% compared to last year.
Comparable sales in apparel and hardlines accelerated by nearly 4% as compared to the third quarter.
The company guided for fiscal 2025 net sales growth of around 1%, based on flat comparable sales growth.
Target expects a “modest increase” in its operating margin rate compared to full-year 2024, an effective tax rate between 23% and 24%, and GAAP and adjusted earnings per share between $8.80 and $9.80, compared to $8.86 in 2024.
Target paid dividends of $513 million in the fourth quarter, up 1.8% from $508 million last year.
In addition, the company repurchased $506 million of its shares, retiring 3.7 million shares at an average price of $136.89, and as of the end of the fourth quarter, Target had $8.7 billion in remaining repurchase authorization since the program’s approval in August 2021.
CrowdStrike Holdings Inc. dropped 9.3% to $353.80 after the cybersecurity solutions provider reported results for the fiscal fourth quarter of 2025 ending in January.
Revenue increased to $1.06 billion from $845.33 million, net income swung to a loss of $92.73 million from a profit of $54.94 million, and loss per diluted share was 37 cents compared to a profit of 22 cents a year ago.
The company guided for the first quarter of 2026 revenue between $1.10 billion and $1.11 billion, compared to $921 million a year ago, and non-GAAP earnings per diluted share between 64 cents and 66 cents, compared to 93 cents in the same period in 2025.
Non-GAAP net income is expected to be between $173.1 million and $180 million, compared to $231.7 million in the first quarter of 2025.
The company agreed to bring AI-powered cloud security to Oracle Cloud Infrastructure.
Europe Movers: Beazley, Dassault Systemes, Schaeffler
Inga Muller
05 Mar, 2025
Frankfurt
Dassault Systèmes SE dropped 1.8% to €38.47 after the 3DExperience platform provider reported a 9% increase in software revenue in the fiscal fourth quarter of 2024.
Total revenue jumped to €1.75 billion from €1.64 billion, net income increased to €412.0 million from €330.0 million, and earnings per diluted share rose to 30 cents from 25 cents a year ago.
The company guided for the first quarter of 2025 revenue between €1.53 billion and €1.60 billion, up 2% to 7% from €1.50 billion a year ago, and earnings per diluted share between 30 cents and 32 cents, compared to 21 cents in the same period in 2024.
Beazley Plc. dropped 1.4% to 880.50 pence despite the insurance company reporting increased earnings in fiscal 2024.
Insurance revenue increased to $5.68 billion from $5.44 billion, profit before tax jumped to $1.42 billion from $1.25 billion, and earnings per diluted share rose to 170.4 cents from 151.4 cents a year ago.
The company proposed an interim dividend of 25.0 pence per share, up from 14.2 pence per share in 2023, payable on May 2 to shareholders on record as of March 21.
The total dividend to be paid for 2024 amounts to £157.5 million, up from £94.2 million in 2023.
In addition, Beazley announced a $500 million share buyback program.
Schaeffler AG dropped 4.3% to €4.61 after the precision mobility parts maker reported full-year 2024 earnings results.
Revenue increased 11.5% to €18.19 billion from €16.31 billion, net income swung to a loss of €632 million from a profit of €309 million, and net loss per diluted share was 86 cents compared to a profit of 46 cents a year ago.
The company guided for fiscal 2025 “considerable revenue growth” driven by acquisitions, an EBIT margin before special items between 3% and 5%, compared to 4.5% in 2024, and free cash flow between zero and €200 million, compared to €363 million a year ago.
Japan Indexes Lacked Direction After US Launched Trade War with Major Partners
Akira Ito
05 Mar, 2025
Tokyo
Benchmark indexes in Japan lacked direction on Wednesday amid rising trade tensions with the U.S.
The Nikkei 225 stock average increased 0.3%, the broader TOPIX gained 0.25%, and the yen hovered at 149.69 against the U.S. dollar.
Market sentiment in Tokyo was cautious amid worries of additional U.S. tariffs on Japanese exports.
The U.S. launched a trade war by placing a 25% tariff on shipments from Mexico and Canada and 20% on goods from China.
The U.S. placed tariffs on three leading trade partners, and the White House threatened to place tariffs on shipments from Japan and the European Union.
The elevated trade tension kept market sentiment in check, and stocks of automobile makers, semiconductor equipment makers, and industrial companies led the decliners for the third day in a row.
The yen edged higher against the U.S. dollar amid rising speculation that the Bank of Japan will continue its rate-hike campaign and raise rates by at least 15 basis points at the end of the policy meeting later in the month.
The Au Jibun Bank Japan Services PMI was revised higher to 53.7 in February, up from a flash estimate of 53.1 and 53.0 in January, according to data released by S&P Global on Wednesday.
The service sector activities expanded for the fourth month in a row and rose to the highest level since August, driven by a surge in export orders.
Business sentiment remained positive amid expansion plans, but the degree of optimism eased to a four-month low.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.3% to 37,444.11, and the broader TOPIX advanced 0.3% to 2,720.09.
Yokogawa Electric rose 6.5% to ¥3,005.0, Furukawa Electric jumped 4.4% to ¥5,930.0, and Fujikura Ltd. soared 7.4% to ¥6,239.0.
Japan Indexes Lacked Direction After US Launched Trade War with Major Partners
Akira Ito
05 Mar, 2025
Tokyo
Benchmark indexes in Japan lacked direction on Wednesday amid rising trade tensions with the U.S.
The Nikkei 225 stock average increased 0.3%, the broader TOPIX gained 0.25%, and the yen hovered at 149.69 against the U.S. dollar.
Market sentiment in Tokyo was cautious amid worries of additional U.S. tariffs on Japanese exports.
The U.S. launched a trade war by placing a 25% tariff on shipments from Mexico and Canada and 20% on goods from China.
The U.S. placed tariffs on three leading trade partners, and the White House threatened to place tariffs on shipments from Japan and the European Union.
The elevated trade tension kept market sentiment in check, and stocks of automobile makers, semiconductor equipment makers, and industrial companies led the decliners for the third day in a row.
The yen edged higher against the U.S. dollar amid rising speculation that the Bank of Japan will continue its rate-hike campaign and raise rates by at least 15 basis points at the end of the policy meeting later in the month.
The Au Jibun Bank Japan Services PMI was revised higher to 53.7 in February, up from a flash estimate of 53.1 and 53.0 in January, according to data released by S&P Global on Wednesday.
The service sector activities expanded for the fourth month in a row and rose to the highest level since August, driven by a surge in export orders.
Business sentiment remained positive amid expansion plans, but the degree of optimism eased to a four-month low.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.3% to 37,444.11, and the broader TOPIX advanced 0.3% to 2,720.09.
Yokogawa Electric rose 6.5% to ¥3,005.0, Furukawa Electric jumped 4.4% to ¥5,930.0, and Fujikura Ltd. soared 7.4% to ¥6,239.0.
India Movers: BASF, Birla Corp, Everest Industries, GTL Ltd., Max Financial, Thermax, V-Mart Retail
Arun Goswami
05 Mar, 2025
Mumbai
Thermax Ltd. increased 0.6% to ₹3,230.15, and the engineering company reported a slight increase in revenue and a 45% decline in profit in the December quarter.
Consolidated revenue increased to ₹2,539.3 crore from ₹2,382.7 crore, after-tax profit fell to ₹113.7 crore from ₹242.9 crore, and diluted earnings per share dropped to ₹10.29 from ₹21.17 a year ago.
V-Mart Retail Ltd. advanced 0.1% to ₹2,888.75 after the retailer reported a two-and-a-half-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹1,030.1 crore from ₹902.1 crore, net income jumped to ₹71.6 crore from ₹28.2 crore, and diluted earnings per share rose to ₹35.82 from ₹14.20 a year ago.
Everest Industries Ltd. rose 1.5% to ₹504 despite the building materials manufacturer swinging to a loss in the December quarter.
Consolidated revenue increased to ₹370.8 crore from ₹359.9 crore, after-tax losses swung to ₹11.85 crore from a profit of ₹1.5 crore, and diluted losses per share swung to ₹7.49 from a profit of 98 paisa a year ago.
Max Financial Services gained 0.2% to ₹1005.50 despite the financial management service provider reporting a 60% plunge from a year ago in quarterly profit.
Consolidated revenue declined to ₹8,927.4 crore from ₹12,359.2 crore, net income dropped to ₹69.8 crore from ₹171.2 crore, and diluted earnings per share fell to ₹1.62 from ₹4.30 a year ago.
BASF India Ltd. edged higher 2.3% to ₹4526.05 after the chemical maker reported a slight increase in revenue and a 26% decline in profit in the December quarter.
Consolidated revenue increased to ₹3,777.7 crore from ₹3,352.7 crore, after-tax profit declined to ₹103.5 crore from ₹140 crore, and diluted earnings per share fell to ₹23.9 from ₹32.3 a year ago.
Birla Corporation Limited inched higher 1.6% to ₹965.50 after the cement and jute goods maker reported 71% drops in profit in the December quarter.
Consolidated revenue decreased to ₹2,272.1 crore from ₹2,326.8 crore, net income dropped to ₹31.2 crore from ₹109.1 crore, and diluted earnings per share fell to ₹4.06 from ₹14.17 a year ago.
Sharda Motor Industries Ltd. rose 2.5% to ₹1610.05 after the company reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue increased to ₹710.9 crore from ₹710.8 crore, after-tax profit fell to ₹75.4 crore from ₹76 crore, and diluted earnings per share advanced to ₹25.63 from ₹25.55 a year ago.
GTL Ltd. jumped 4.1% to ₹8.71 after the network services company swung to a loss in the December quarter.
Consolidated revenue advanced to ₹51.23 crore from ₹46.1 crore, after-tax losses swung to ₹41.8 crore from a profit of ₹3.8 crore, and diluted losses per share swung to ₹2.66 from a profit of 24 paisa a year ago.
India Movers: BASF, Birla Corp, Everest Industries, GTL Ltd., Max Financial, Thermax, V-Mart Retail
Arun Goswami
05 Mar, 2025
Mumbai
Thermax Ltd. increased 0.6% to ₹3,230.15, and the engineering company reported a slight increase in revenue and a 45% decline in profit in the December quarter.
Consolidated revenue increased to ₹2,539.3 crore from ₹2,382.7 crore, after-tax profit fell to ₹113.7 crore from ₹242.9 crore, and diluted earnings per share dropped to ₹10.29 from ₹21.17 a year ago.
V-Mart Retail Ltd. advanced 0.1% to ₹2,888.75 after the retailer reported a two-and-a-half-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹1,030.1 crore from ₹902.1 crore, net income jumped to ₹71.6 crore from ₹28.2 crore, and diluted earnings per share rose to ₹35.82 from ₹14.20 a year ago.
Everest Industries Ltd. rose 1.5% to ₹504 despite the building materials manufacturer swinging to a loss in the December quarter.
Consolidated revenue increased to ₹370.8 crore from ₹359.9 crore, after-tax losses swung to ₹11.85 crore from a profit of ₹1.5 crore, and diluted losses per share swung to ₹7.49 from a profit of 98 paisa a year ago.
Max Financial Services gained 0.2% to ₹1005.50 despite the financial management service provider reporting a 60% plunge from a year ago in quarterly profit.
Consolidated revenue declined to ₹8,927.4 crore from ₹12,359.2 crore, net income dropped to ₹69.8 crore from ₹171.2 crore, and diluted earnings per share fell to ₹1.62 from ₹4.30 a year ago.
BASF India Ltd. edged higher 2.3% to ₹4526.05 after the chemical maker reported a slight increase in revenue and a 26% decline in profit in the December quarter.
Consolidated revenue increased to ₹3,777.7 crore from ₹3,352.7 crore, after-tax profit declined to ₹103.5 crore from ₹140 crore, and diluted earnings per share fell to ₹23.9 from ₹32.3 a year ago.
Birla Corporation Limited inched higher 1.6% to ₹965.50 after the cement and jute goods maker reported 71% drops in profit in the December quarter.
Consolidated revenue decreased to ₹2,272.1 crore from ₹2,326.8 crore, net income dropped to ₹31.2 crore from ₹109.1 crore, and diluted earnings per share fell to ₹4.06 from ₹14.17 a year ago.
Sharda Motor Industries Ltd. rose 2.5% to ₹1610.05 after the company reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue increased to ₹710.9 crore from ₹710.8 crore, after-tax profit fell to ₹75.4 crore from ₹76 crore, and diluted earnings per share advanced to ₹25.63 from ₹25.55 a year ago.
GTL Ltd. jumped 4.1% to ₹8.71 after the network services company swung to a loss in the December quarter.
Consolidated revenue advanced to ₹51.23 crore from ₹46.1 crore, after-tax losses swung to ₹41.8 crore from a profit of ₹3.8 crore, and diluted losses per share swung to ₹2.66 from a profit of 24 paisa a year ago.
India Movers: BASF, Birla Corp, Everest Industries, GTL Ltd., Max Financial, Thermax, V-Mart Retail
Arun Goswami
05 Mar, 2025
Mumbai
Thermax Ltd. increased 0.6% to ₹3,230.15, and the engineering company reported a slight increase in revenue and a 45% decline in profit in the December quarter.
Consolidated revenue increased to ₹2,539.3 crore from ₹2,382.7 crore, after-tax profit fell to ₹113.7 crore from ₹242.9 crore, and diluted earnings per share dropped to ₹10.29 from ₹21.17 a year ago.
V-Mart Retail Ltd. advanced 0.1% to ₹2,888.75 after the retailer reported a two-and-a-half-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹1,030.1 crore from ₹902.1 crore, net income jumped to ₹71.6 crore from ₹28.2 crore, and diluted earnings per share rose to ₹35.82 from ₹14.20 a year ago.
Everest Industries Ltd. rose 1.5% to ₹504 despite the building materials manufacturer swinging to a loss in the December quarter.
Consolidated revenue increased to ₹370.8 crore from ₹359.9 crore, after-tax losses swung to ₹11.85 crore from a profit of ₹1.5 crore, and diluted losses per share swung to ₹7.49 from a profit of 98 paisa a year ago.
Max Financial Services gained 0.2% to ₹1005.50 despite the financial management service provider reporting a 60% plunge from a year ago in quarterly profit.
Consolidated revenue declined to ₹8,927.4 crore from ₹12,359.2 crore, net income dropped to ₹69.8 crore from ₹171.2 crore, and diluted earnings per share fell to ₹1.62 from ₹4.30 a year ago.
BASF India Ltd. edged higher 2.3% to ₹4526.05 after the chemical maker reported a slight increase in revenue and a 26% decline in profit in the December quarter.
Consolidated revenue increased to ₹3,777.7 crore from ₹3,352.7 crore, after-tax profit declined to ₹103.5 crore from ₹140 crore, and diluted earnings per share fell to ₹23.9 from ₹32.3 a year ago.
Birla Corporation Limited inched higher 1.6% to ₹965.50 after the cement and jute goods maker reported 71% drops in profit in the December quarter.
Consolidated revenue decreased to ₹2,272.1 crore from ₹2,326.8 crore, net income dropped to ₹31.2 crore from ₹109.1 crore, and diluted earnings per share fell to ₹4.06 from ₹14.17 a year ago.
Sharda Motor Industries Ltd. rose 2.5% to ₹1610.05 after the company reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue increased to ₹710.9 crore from ₹710.8 crore, after-tax profit fell to ₹75.4 crore from ₹76 crore, and diluted earnings per share advanced to ₹25.63 from ₹25.55 a year ago.
GTL Ltd. jumped 4.1% to ₹8.71 after the network services company swung to a loss in the December quarter.
Consolidated revenue advanced to ₹51.23 crore from ₹46.1 crore, after-tax losses swung to ₹41.8 crore from a profit of ₹3.8 crore, and diluted losses per share swung to ₹2.66 from a profit of 24 paisa a year ago.
China Targets Ambitious 5% Annual Growth Target, CK Hutchison Sell Panama Ports
Li Chen
05 Mar, 2025
Hong Kong
Benchmark indexes in China and Hong Kong advanced, and investors reviewed the annual targets set by lawmakers at the annual gathering.
The Hang Seng index soared 1.7%, and the broader CSI 300 index gained 0.3%, amid cautious optimism about additional fiscal measures to support economic growth and consumer confidence.
Premier Li Qiang set an annual economic growth target of around 5% and lifted the budget deficit goal of 4%, higher than the long-standing 3% level.
The economic growth rate confirmed the government's resolve in keeping the economy expanding despite the U.S. tariffs and rising trade barriers.
Investors are hoping that the People's Bank of China will provide additional monetary stimulus, as the ambitious economic growth target may need more support from increased lending by banks to consumers and businesses.
China Indexes and Stocks
The Hang Seng index soared 1.7% to 23,320.36, and the broader CSI 300 index advanced 0.3% to 3,897.79.
CK Hutchison Holdings soared 21% to HK $46.85, and the company agreed to sell 43 ports around the world, including 2 in Panama, for $23 billion to a consortium.
A group of investors led by BlackRock, Global Infrastructure Partners, and Terminal Investment Ltd. will acquire an 80% stake in Hutchison Ports Group.
The Hong Kong-based diversified conglomerate agreed to sell its 90% stake in two ports in Panama after the White House stepped up pressure to regain control of U.S. trade routes.
The consortium led by the U.S. and Swiss investors will acquire a total of 43 ports with 199 berths in 23 countries.
The deal does not include ports controlled by the group in Hong Kong and China.
China Targets Ambitious 5% Annual Growth Target, CK Hutchison Sell Panama Ports
Li Chen
05 Mar, 2025
Hong Kong
Benchmark indexes in China and Hong Kong advanced, and investors reviewed the annual targets set by lawmakers at the annual gathering.
The Hang Seng index soared 1.7%, and the broader CSI 300 index gained 0.3%, amid cautious optimism about additional fiscal measures to support economic growth and consumer confidence.
Premier Li Qiang set an annual economic growth target of around 5% and lifted the budget deficit goal of 4%, higher than the long-standing 3% level.
The economic growth rate confirmed the government's resolve in keeping the economy expanding despite the U.S. tariffs and rising trade barriers.
Investors are hoping that the People's Bank of China will provide additional monetary stimulus, as the ambitious economic growth target may need more support from increased lending by banks to consumers and businesses.
China Indexes and Stocks
The Hang Seng index soared 1.7% to 23,320.36, and the broader CSI 300 index advanced 0.3% to 3,897.79.
CK Hutchison Holdings soared 21% to HK $46.85, and the company agreed to sell 43 ports around the world, including 2 in Panama, for $23 billion to a consortium.
A group of investors led by BlackRock, Global Infrastructure Partners, and Terminal Investment Ltd. will acquire an 80% stake in Hutchison Ports Group.
The Hong Kong-based diversified conglomerate agreed to sell its 90% stake in two ports in Panama after the White House stepped up pressure to regain control of U.S. trade routes.
The consortium led by the U.S. and Swiss investors will acquire a total of 43 ports with 199 berths in 23 countries.
The deal does not include ports controlled by the group in Hong Kong and China.