Market Update
Japan's Indexes Closed In September, First Decline In Six Months
Akira Ito
01 Oct, 2025
Tokyo
Japan's market indexes turned lower amid mixed economic signals and worries of a prolonged U.S. government shutdown.
The Nikkei 225 Stock Average dropped 1%, and the broader Topix index declined 1.5% as investors assessed the future rate path and outlook for international trade.
The Tankan survey of 8,900 companies showed an improvement in business sentiment in the September quarter, according to a monthly report released by the Bank of Japan.
The sentiment index among manufacturing firms slightly increased from the second quarter, but the expectations for business conditions were stable among smaller businesses.
The sentiment index for manufacturing businesses improved to 14 from 13, and for non-manufacturing businesses, it remained stable at 34 in the third quarter, respectively.
Meanwhile, economic data released earlier showed weaknesses in retail sales and industrial production.
August's retail sales declined 1.1%, and industrial production fell 1.2% from a year ago, respectively.
The Bank of Japan's Summary of Opinions highlighted a divide among policymakers, as some policymakers preferred to hike rates if economic growth and inflation are met, while others advocated holding to stem off the negative impact of the U.S. tariffs.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 1% to 44,464.33, and the broader Topix dropped 1.5% to 3,091.56.
IHI Corp. decreased 6.3% to ¥2,585.50, Fujikura Ltd. dropped 1.2% to ¥14,280.0, and Mitsubishi Heavy Industries fell 3.3% to ¥3,753.0.
Tokyo Electron declined 1.5% to ¥25,955.0, Advantest Corp. increased 0.9% to ¥14,775.0, and Disco Corp. decreased 0.6% to ¥46,250.0.
Nippon Yusen Corp. fell 0.5% to ¥5,028.0, Mitsui O.S.K. Lines Ltd. decreased 1.4% to ¥4,430.0, and Kawasaki Kisen Kaisha Ltd. declined 1.3% to ¥2,080.0.
Economic Data May Not Arrive On Time as Possible Federal Government Shutdown Approaches Closer
Barry Adams
30 Sep, 2025
New York City
Wall Street indexes turned lower amid rising possibilities of a federal government shutdown starting as early as Tuesday at midnight.
The S&P 500 index and the tech-heavy Nasdaq Composite decreased 0.3% amid worries that the extended government shutdown could negatively impact the health of the U.S. economy.
The Labor Department confirmed on Monday that September nonfarm payrolls data scheduled for Friday will not be released in the event of a U.S. federal government shutdown.
Moreover, rating agencies could downgrade the U.S. debt, following the last downgrade by Moody's in May.
The federal government shutdowns in the past have had little impact on the broader market; however, this time the disruptions in government operations could compound uncertainties because of the deteriorating labor market and sharp escalation in trade tariffs.
For the quarter-to-date, the S&P 500 index rose 7.4% and the Nasdaq Composite advanced 11%.
U.S. Stock Movers
Electronic Arts extended two-day gains to over 20% after the company agreed to go private in a deal worth $55 billion.
The company agreed to be acquired by the Public Investment Fund of Saudi Arabia, Silver Lake, and Affinity Partners in an all-cash deal for $210 a share.
Firefly Aerospace dropped 10% to $33.20 after the company's rocket booster exploded during a pre-flight test at its facility in Texas.
Progress Software decreased 0.3% to $42.45, and the software company reported better-than-expected earnings for the fiscal third quarter and raised its annual outlook.
Vail Resorts fell 2.2% to $144.75 after the ski resort operator reported a quarterly loss of $5.08 per share on revenue of $271 million.
CarMax Inc. extended a two-day decline to 22% to $144.75 after the used car retailer reported revenue declined 6% and net income fell 28% from a year ago, respectively.
The sales weakness reflected elevated used-car prices and a shift in focus to sell luxury automobiles.
Economic Data May Not Arrive On Time as Possible Federal Government Shutdown Approaches Closer
Barry Adams
30 Sep, 2025
New York City
Wall Street indexes turned lower amid rising possibilities of a federal government shutdown starting as early as Tuesday at midnight.
The S&P 500 index and the tech-heavy Nasdaq Composite decreased 0.3% amid worries that the extended government shutdown could negatively impact the health of the U.S. economy.
The Labor Department confirmed on Monday that September nonfarm payrolls data scheduled for Friday will not be released in the event of a U.S. federal government shutdown.
Moreover, rating agencies could downgrade the U.S. debt, following the last downgrade by Moody's in May.
The federal government shutdowns in the past have had little impact on the broader market; however, this time the disruptions in government operations could compound uncertainties because of the deteriorating labor market and sharp escalation in trade tariffs.
U.S. Stock Movers
Electronic Arts extended two-day gains to over 20% after the company agreed to go private in a deal worth $55 billion.
The company agreed to be acquired by the Public Investment Fund of Saudi Arabia, Silver Lake, and Affinity Partners in an all-cash deal for $210 a share.
Firefly Aerospace dropped 10% to $33.20 after the company's rocket booster exploded during a pre-flight test at its facility in Texas.
Progress Software decreased 0.3% to $42.45, and the software company reported better-than-expected earnings for the fiscal third quarter and raised its annual outlook.
Vail Resorts fell 2.2% to $144.75 after the ski resort operator reported a quarterly loss of $5.08 per share on revenue of $271 million.
CarMax Inc. extended a two-day decline to 22% to $144.75 after the used car retailer reported revenue declined 6% and net income fell 28% from a year ago, respectively.
The sales weakness reflected elevated used-car prices and a shift in focus to sell luxury automobiles.
China's Manufacturing Surveys Highlight Ongoing Weakness, Hong Kong Attracts Three Successful IPOs
Li Chen
30 Sep, 2025
Hong Kong
China's stock market indexes edged higher ahead of the start of the weeklong Golden Week holidays.
The Hang Seng index increased 0.2%, and the CSI 300 index edged up 0.5% after the official survey of manufacturing activities painted a gloomy picture.
The manufacturing purchasing managers' activities index was 49.8 in September, the National Bureau of Statistics reported Tuesday.
The persistent domestic demand weakness and export headwinds played key roles in contracting activities for the sixth consecutive month.
The nonmanufacturing activity index, which includes construction and services, dropped to 50 in September from 50.3 in August, data from the statistics bureau showed.
However, a private survey released Tuesday by S&P Global showed a slight increase in manufacturing activities in September.
The RatingDog China General Manufacturing PMI increased to 51.2 from 50.5 in August.
The private survey has a larger percentage of smaller and private companies, including businesses focused on export activities.
China Indexes and Stocks
The Hang Seng index increased 0.2% to 26,668.70, and the CSI 300 index advanced 0.5% to 4,642.62.
Techtronic Industries rose 1.4% to HK $99.85, Alibaba Group Holding increased 2.2% to HK $177.30, and Tencent Holdings edged up 0.2% to HK $661.50.
Semiconductor makers advanced after local reports suggested Huawei Technologies plans to double AI chip production in the near future.
SMIC rose 3% to HK$78.80, and SenseTime Group advanced 4% to HK$2.84.
Three mainland Chinese companies listed their stocks on the Hong Kong Stock Exchange.
Zijin Gold, the spinoff of Zijin Mining, soared 55% to HK$117, and the company priced its stock at HK$71.59 per share.
The company sold 349 million shares and raised HK$24.98 billion through the listing of its stock on the Hong Kong Stock Exchange.
The mining company plans to use about 33% of its offering to complete its acquisition of the Raygorodok Gold Mine in Kazakhstan.
About 90% of the offering was placed with international investors.
Singapore's GIC, the U.S.-based BlackRock, and the UK's Schroders attracted investments to the company's public offering.
Shenzhen Hipine Precision Technology soared more than 180% to HK$102.30 after the company listed its shares on the Hong Kong Stock Exchange.
The watch designer and manufacturer priced and sold 10.6 million shares at a price of HK$29.60 per share.
Pateo Connect Technology soared on the first day of trading on the Hong Kong Stock Exchange.
Pateo traded at HK$144.0, and the company sold 10.44 million shares at a price of HK$10.23 per share.