Market Update
U.S. Movers: Dolby Labs, Home Depot, Onsemi, Target
Scott Peters
19 Nov, 2025
New York City
Home Depot plunged 6% to $336.48 after the home improvement retailer lowered its same-store sales outlook and muted third-quarter results.
Revenue increased 1.1% to $41.4 billion from $40.2 billion, net income inched lower 1.3% to $3.60 billion from $3.64 billion, and diluted earnings per share fell to $3.62 from $3.67 a year ago.
Comparable sales increased 0.2% from a decline of 1.3%, comparable customer transactions declined to 1.6% from 0.6%, and the average ticket advanced 2% to $90.39 from $88.65 a year ago, respectively.
The do-it-yourself store retailer acknowledged the ongoing consumer uncertainty, the weakening housing market, and the expected post-storm seasonal renovation demand that failed to materialize.
Home Depot estimated total fiscal 2025 sales to increase 3.0%, including $2.0 billion in sales from the recent acquisition of GMS, and comparable sales growth to be "slightly positive" in the comparable 52-week period.
The company forecast diluted earnings per share to decrease 6% from $14.91 in the fiscal year 2024.
Onsemi increased 3.3% to $47.04 after the company's board authorized a new three-year stock repurchase program of $6 billion starting January 1, 2026.
The current stock buyback program, which is scheduled to end at the end of 2025, has acquired about $2.1 billion of stock, using 100% of the company's free cash flow in 2025.
Earlier in the month, the company said revenue decreased to $1.6 billion from $1.8 billion, net income fell to $255 million from $410.7 million, and diluted earnings per share decreased to 63 cents from 93 cents a year ago.
Dolby Laboratories edged up 0.6% to $64.96 after the audio and imaging company's fiscal first-quarter outlook fell short of market expectations.
Revenue in the fiscal fourth quarter ending in September increased to $307 million from $305 million, net attributable income plunged to $49.3 million from $58.6 million, and diluted earnings per share dropped to 51 cents from 61 cents a year ago.
Target Corp. decreased 2.5% to $86.60 after the company reported a decline in sales and earnings in the fiscal third quarter ending in September.
Revenue fell 1.5% to $25.3 billion from $25.7 billion, net income dropped 19.3% to $689 million from $854 million, and diluted earnings per share edged up to $1.14 from $1.12 a year ago.
For the fourth quarter, the company reiterated its estimate of "low-single-digit decline in sales," and the full-year diluted earnings per share estimate was revised lower to between $7.70 and $8.70.
Stocks On Wall Street Attempt to Rebound from Six-Day Malaise
Barry Adams
19 Nov, 2025
New York City
Stock market indexes on Wall Street attempted to rebound, and investors awaited the release of Nvidia's quarterly results.
The S&P 500 index increased 0.3%, and the tech-heavy Nasdaq Composite advanced 0.4% ahead of key earnings later in the day.
Nvidia Corp., the AI chip company at the center of the seven-month market rally, is widely anticipated to beat earnings and revenue estimates.
But investors are holding the company with the largest stock market value to a higher standard and are looking forward to a strong sales forecast for the current quarter.
Stock has come under pressure in the last two weeks, as investors are worried that the AI chip maker's torrid growth over the last three years is not sustainable.
Lowe's Companies and TJX Companies are scheduled to release their quarterly results after the market close.
Target Corp. said sales and earnings declined in the third quarter after fewer customers visited stores and spent less.
U.S. Stock Movers
Home Depot plunged 6% to $336.48 after the home improvement retailer lowered its same-store sales outlook and muted third-quarter results.
Revenue increased 1.1% to $41.4 billion from $40.2 billion, net income inched lower 1.3% to $3.60 billion from $3.64 billion, and diluted earnings per share fell to $3.62 from $3.67 a year ago.
Comparable sales increased 0.2% from a decline of 1.3%, comparable customer transactions declined to 1.6% from 0.6%, and the average ticket advanced 2% to $90.39 from $88.65 a year ago, respectively.
The do-it-yourself store retailer acknowledged the ongoing consumer uncertainty, the weakening housing market, and the expected post-storm seasonal renovation demand that failed to materialize.
Home Depot estimated total fiscal 2025 sales to increase 3.0%, including $2.0 billion in sales from the recent acquisition of GMS, and comparable sales growth to be "slightly positive" in the comparable 52-week period.
The company forecast diluted earnings per share to decrease 6% from $14.91 in the fiscal year 2024.
Onsemi increased 3.3% to $47.04 after the company's board authorized a new three-year stock repurchase program of $6 billion starting January 1, 2026.
The current stock buyback program, which is scheduled to end at the end of 2025, has acquired about $2.1 billion of stock, using 100% of the company's free cash flow in 2025.
Earlier in the month, the company said revenue decreased to $1.6 billion from $1.8 billion, net income fell to $255 million from $410.7 million, and diluted earnings per share decreased to 63 cents from 93 cents a year ago.
Dolby Laboratories edged up 0.6% to $64.96 after the audio and imaging company's fiscal first-quarter outlook fell short of market expectations.
Revenue in the fiscal fourth quarter ending in September increased to $307 million from $305 million, net attributable income plunged to $49.3 million from $58.6 million, and diluted earnings per share dropped to 51 cents from 61 cents a year ago.
Target Corp. decreased 2.5% to $86.60 after the company reported a decline in sales and earnings in the fiscal third quarter ending in September.
Revenue fell 1.5% to $25.3 billion from $25.7 billion, net income dropped 19.3% to $689 million from $854 million, and diluted earnings per share edged up to $1.14 from $1.12 a year ago.
For the fourth quarter, the company reiterated its estimate of "low-single-digit decline in sales," and the full-year diluted earnings per share estimate was revised lower to between $7.70 and $8.70.
Stocks On Wall Street Attempt to Rebound from Six-Day Malaise
Barry Adams
19 Nov, 2025
New York City
Stock market indexes on Wall Street attempted to rebound, and investors awaited the release of Nvidia's quarterly results.
The S&P 500 index increased 0.3%, and the tech-heavy Nasdaq Composite advanced 0.4% ahead of key earnings later in the day.
Nvidia Corp., the AI chip company at the center of the seven-month market rally, is widely anticipated to beat earnings and revenue estimates.
But investors are holding the company with the largest stock market value to a higher standard and are looking forward to a strong sales forecast for the current quarter.
Stock has come under pressure in the last two weeks, as investors are worried that the AI chip maker's torrid growth over the last three years is not sustainable.
Lowe's Companies and TJX Companies are scheduled to release their quarterly results after the market close.
Target Corp. said sales and earnings declined in the third quarter after fewer customers visited stores and spent less.
U.S. Stock Movers
Home Depot plunged 6% to $336.48 after the home improvement retailer lowered its same-store sales outlook and muted third-quarter results.
Revenue increased 1.1% to $41.4 billion from $40.2 billion, net income inched lower 1.3% to $3.60 billion from $3.64 billion, and diluted earnings per share fell to $3.62 from $3.67 a year ago.
Comparable sales increased 0.2% from a decline of 1.3%, comparable customer transactions declinedto 1.6% from 0.6%, and the average ticket advanced 2% to $90.39 from $88.65 a year ago, respectively.
The do-it-yourself store retailer acknowledged the ongoing consumer uncertainty, the weakening housing market, and the expected post-storm seasonal renovation demand that failed to materialize.
Home Depot estimated total fiscal 2025 sales to increase 3.0%, including $2.0 billion in sales from the recent acquisition of GMS, and comparable sales growth to be "slightly positive" in the comparable 52-week period.
The company forecast diluted earnings per share to decrease 6% from $14.91 in the fiscal year 2024.
Onsemi increased 3.3% to $47.04 after the company's board authorized a new three-year stock repurchase program of $6 billion starting January 1, 2026.
The current stock buyback program, which is scheduled to end at the end of 2025, has acquired about $2.1 billion of stock, using 100% of the company's free cash flow in 2025.
Earlier in the month, the company said revenue decreased to $1.6 billion from $1.8 billion, net income fell to $255 million from $410.7 million, and diluted earnings per share decreased to 63 cents from 93 cents a year ago.
Dolby Laboratories edged up 0.6% to $64.96 after the audio and imaging company's fiscal first-quarter outlook fell short of market expectations.
Revenue in the fiscal fourth quarter ending in September increased to $307 million from $305 million, net attributable income plunged to $49.3 million from $58.6 million, and diluted earnings per share dropped to 51 cents from 61 cents a year ago.
Target Corp. decreased 2.5% to $86.60 after the company reported a decline in sales and earnings in the fiscal third quarter ending in September.
Revenue fell 1.5% to $25.3 billion from $25.7 billion, net income dropped 19.3% to $689 million from $854 million, and diluted earnings per share edged up to $1.14 from $1.12 a year ago.
For the fourth quarter, the company reiterated its estimate of "low-single-digit decline in sales," and the full-year diluted earnings per share estimate was revised lower to between $7.70 and $8.70.
Takaichi's Large Stimulus Proposal Stokes Debt Worries, 10-Year Bond Yield at New 17-Year High
Akira Ito
19 Nov, 2025
Tokyo
Japan's stock market indexes struggled to stay above the flatline for the fourth session in a row amid elevated market anxieties.
The Nikkei 225 Stock Average edged down 0.1%, and the Topix inched higher 0.1% as investors reviewed the latest government bond auctions.
The Japanese yen hovered at a ten-month low of 155.40 against the U.S. dollar as Prime Minister Sanae Takaichi's administration prepares for an additional spending budget of 25 trillion yen.
The plan was sharply higher than last year's 13.9 trillion extra budget, stoking debt worries.
Bank of Japan Governor Kazuo Ueda stated that Prime Minister Takaichi made no special requests regarding monetary policy. Ueda reaffirmed the central bank's commitment to gradually raise interest rates toward its 2% target.
On the economic front, Japan's machinery orders increased sharply in September, according to the Cabinet Office.
Overall machinery orders accelerated to an annual increase of 11.6% in September from 1.6% in August.
Core machinery orders are considered a key yet volatile signal for the capital expenditure in the coming six to nine months.
Core machinery orders, which exclude volatile ship and electric power equipment, advanced 4.2% from the previous month to 927.8 billion yen.
The increase in core machinery orders was led by a 23.3% surge in manufacturing orders to 515.2 billion yen, while non-manufacturing orders fell 8.7% to 428.3 billion yen.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.1% to 48,674.89, and the broader Topix added 0.1% to 3,255.16.
AI supply chain-linked stocks faced another day of volatility in Tokyo's trading.
Softbank Group inched up 0.3% to ¥18,870.0, Advantest Corp. declined 1.8% to ¥18,925.0, and Tokyo Electron fell 1.5% to ¥30,980.0.
Toyota Motor Corp. increased 0.7% to ¥3,049.00, Honda Motor Co. Ltd. gained 1.8% to ¥1,518.0, and Nissan Motor Co. Ltd. added 1.1% to ¥355.10.
Fast Retailing Co. Ltd. added 1% to ¥54,070.0, Seven & I Holding added 2.2% to ¥2,074.50, and Takashimaya Co. Ltd. inched up 0.4% to ¥1,617.50.
Takaichi's Large Stimulus Proposal Stokes Debt Worries, 10-Year Bond Yield at New 17-Year High
Akira Ito
19 Nov, 2025
Tokyo
Japan's stock market indexes struggled to stay above the flatline for the fourth session in a row amid elevated market anxieties.
The Nikkei 225 Stock Average edged down 0.1%, and the Topix inched higher 0.1% as investors reviewed the latest government bond auctions.
The Japanese yen hovered at a ten-month low of 155.40 against the U.S. dollar as Prime Minister Sanae Takaichi's administration prepares for an additional spending budget of 25 trillion yen.
The plan was sharply higher than last year's 13.9 trillion extra budget, stoking debt worries.
Bank of Japan Governor Kazuo Ueda stated that Prime Minister Takaichi made no special requests regarding monetary policy. Ueda reaffirmed the central bank's commitment to gradually raise interest rates toward its 2% target.
On the economic front, Japan's machinery orders increased sharply in September, according to the Cabinet Office.
Overall machinery orders accelerated to an annual increase of 11.6% in September from 1.6% in August.
Core machinery orders are considered a key yet volatile signal for the capital expenditure in the coming six to nine months.
Core machinery orders, which exclude volatile ship and electric power equipment, advanced 4.2% from the previous month to 927.8 billion yen.
The increase in core machinery orders was led by a 23.3% surge in manufacturing orders to 515.2 billion yen, while non-manufacturing orders fell 8.7% to 428.3 billion yen.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.1% to 48,674.89, and the broader Topix added 0.1% to 3,255.16.
AI supply chain-linked stocks faced another day of volatility in Tokyo's trading.
Softbank Group inched up 0.3% to ¥18,870.0, Advantest Corp. declined 1.8% to ¥18,925.0, and Tokyo Electron fell 1.5% to ¥30,980.0.
Toyota Motor Corp. increased 0.7% to ¥3,049.00, Honda Motor Co. Ltd. gained 1.8% to ¥1,518.0, and Nissan Motor Co. Ltd. added 1.1% to ¥355.10.
Fast Retailing Co. Ltd. added 1% to ¥54,070.0, Seven & I Holding added 2.2% to ¥2,074.50, and Takashimaya Co. Ltd. inched up 0.4% to ¥1,617.50.
Hong Kong and China Markets Diverged, Lofty AI Valuations Dampened Investor Enthusiasm
Li Chen
19 Nov, 2025
Hong Kong
Stock market indexes in China and Hong Kong diverged, and investors adjusted their outlook for AI-linked stocks.
The Hang Seng index decreased 0.5%, and the mainland-focused CSI 300 index rose 0.7% amid growing anxieties about the sustainability of capital spending to build expensive data centers.
Markets in Japan, South Korea, and India extended this week's losses ahead of Nvidia's earnings on Wednesday and U.S. nonfarm payroll data on Thursday.
Investors remained cautious for the third consecutive week in Asia as the AI-driven rally faced market skepticism and the odds of a U.S. rate cut in December receded.
China Indexes and Stocks
The Hang Seng Index decreased 0.5% to 25,816.39, and the mainland-focused CSI 300 index advanced 0.7% to 4,577.77.
Baidu Inc. dropped 0.5% to HK $110.50, and the search company reported a 7% decline in overall revenue in the third quarter.
Electric vehicle makers extended losses for the second week in a row amid worries about thin margins.
Li Auto decreased 2.5% to HK $71.40, BYD edged up 0.5% to HK $87.20, and Xiaomi Corp. dropped 4.3% to HK $39.02.
Semiconductor and AI supply chain-linked stocks were in focus ahead of Nvidia's earnings later in the day.
SMIC decreased 2.7% to HK $72.15, Hua Hong Semiconductor dropped 0.6% to HK $72.15, and NAURA Technology Group fell 0.9% to ¥419.69.
Hong Kong and China Markets Diverged, Lofty AI Valuations Dampened Investor Enthusiasm
Li Chen
19 Nov, 2025
Hong Kong
Stock market indexes in China and Hong Kong diverged, and investors adjusted their outlook for AI-linked stocks.
The Hang Seng index decreased 0.5%, and the mainland-focused CSI 300 index rose 0.7% amid growing anxieties about the sustainability of capital spending to build expensive data centers.
Markets in Japan, South Korea, and India extended this week's losses ahead of Nvidia's earnings on Wednesday and U.S. nonfarm payroll data on Thursday.
Investors remained cautious for the third consecutive week in Asia as the AI-driven rally faced market skepticism and the odds of a U.S. rate cut in December receded.
China Indexes and Stocks
The Hang Seng Index decreased 0.5% to 25,816.39, and the mainland-focused CSI 300 index advanced 0.7% to 4,577.77.
Baidu Inc. dropped 0.5% to HK $110.50, and the search company reported a 7% decline in overall revenue in the third quarter.
Electric vehicle makers extended losses for the second week in a row amid worries about thin margins.
Li Auto decreased 2.5% to HK $71.40, BYD edged up 0.5% to HK $87.20, and Xiaomi Corp. dropped 4.3% to HK $39.02.
Semiconductor and AI supply chain-linked stocks were in focus ahead of Nvidia's earnings later in the day.
SMIC decreased 2.7% to HK $72.15, Hua Hong Semiconductor dropped 0.6% to HK $72.15, and NAURA Technology Group fell 0.9% to ¥419.69.
Wall Street Losses Engulf More Sectors as Investors Dump High-Flying Stocks
Barry Adams
18 Nov, 2025
New York City
Benchmark indexes on Wall Street traded around the flatline as traders avoided large positions and lightened exposure to high-flying stocks.
The S&P 500 index inched up 0.1%, and the tech-heavy Nasdaq Composite decreased 0.2% amid growing caution ahead of the release of Nvidia's quarterly results and September's payroll data.
Investors have been pulling back over the last two weeks as the list of concerns grows, including a cloudy economic outlook, a rapidly cooling jobs market, the widespread demise of small businesses, and a narrowing list of stocks participating in the rally.
The so-called K-shaped economy has left future growth vulnerable to the spending patterns of ultra-rich individuals and fewer Big Technology companies.
Increasingly, the stock market appears to be the economy, suggesting a narrowing segment of the population benefiting from economic growth, while most families are battling high food prices, escalating rent, and sky-high healthcare expenses.
Nvidia, the advanced semiconductor chipmaker powering the race to develop artificial intelligence applications, has dropped about 10% from its record high in late October but gained about 35% in the year so far.
Nvidia's third-quarter results are likely to surpass market expectations, but investors are increasingly skeptical about its future earnings growth and the sustainability of high margins.
U.S. Stock Movers
Nvidia, Oracle, Apple, and Microsoft eased between 1% and 2%, but Google parent Alphabet Inc. extended this week's gains after Berkshire Hathaway disclosed a stake in the company.
Leading retailers are scheduled to release their quarterly results on Wednesday and Thursday, as investors look for clues about the impact of U.S. tariffs.
Home Depot decreased 1.9% to $351.13, Walmart eased 0.2% to $102.81, Target Corp. declined 0.2% to $88.30, Gap Inc. decreased a fraction to $23.80, and TJX Companies eased 0.3% to $145.18.
Wall Street Losses Deepen as Investors Dump High-Flying Stocks
Barry Adams
18 Nov, 2025
New York City
Benchmark indexes on Wall Street traded around the flatline as traders avoided large positions and lightened exposure to high-flying stocks.
The S&P 500 index inched up 0.1%, and the tech-heavy Nasdaq Composite decreased 0.2% amid growing caution ahead of the release of Nvidia's quarterly results and September's payroll data.
Investors have been pulling back over the last two weeks as the list of concerns grows, including a cloudy economic outlook, a rapidly cooling jobs market, the widespread demise of small businesses, and a narrowing list of stocks participating in the rally.
The so-called K-shaped economy has left future growth vulnerable to the spending patterns of ultra-rich individuals and fewer Big Technology companies.
Increasingly, the stock market appears to be the economy, suggesting a narrowing segment of the population benefiting from economic growth, while most families are battling high food prices, escalating rent, and sky-high healthcare expenses.
Nvidia, the advanced semiconductor chipmaker powering the race to develop artificial intelligence applications, has dropped about 10% from its record high in late October but gained about 35% in the year so far.
Nvidia's third-quarter results are likely to surpass market expectations, but investors are increasingly skeptical about its future earnings growth and the sustainability of high margins.
U.S. Stock Movers
Nvidia, Oracle, Apple, and Microsoft eased between 1% and 2%, but Google parent Alphabet Inc. extended this week's gains after Berkshire Hathaway disclosed a stake in the company.
Leading retailers are scheduled to release their quarterly results on Wednesday and Thursday, as investors look for clues about the impact of U.S. tariffs.
Home Depot decreased 1.9% to $351.13, Walmart eased 0.2% to $102.81, Target Corp. declined 0.2% to $88.30, Gap Inc. decreased a fraction to $23.80, and TJX Companies eased 0.3% to $145.18.
Japan's Indexes Extended Six-Week Losses to 6%
Akira Ito
18 Nov, 2025
Tokyo
Japan's indexes extended losses for the third consecutive session, mirroring weakness in overnight trading on Wall Street.
The Nikkei 225 Stock Average dropped nearly 3%, and the broader Topix decreased 2.4%.
Stocks faced headwinds amid growing caution ahead of the release of Nvidia's quarterly results on Wednesday.
Rising tensions between Japan and China contributed to market anxieties, as investors feared that a sharp fall in Chinese tourists could hurt sales of retailers, convenience store chains, hotels, and railroad operators.
Investors were on alert ahead of the meeting between Prime Minister Sanae Takaichi and BOJ Governor Kazuo Ueda.
The Japanese yen dropped to a ten-month low amid speculation that Takaichi has publicly favored a cautious approach to rate hikes while preparing for a fiscal spending plan that could surpass expectations.
Later in the day, Takaichi is also scheduled to meet with the National Tax Commission, an advisory group to the prime minister and policymakers, as the prime minister looks to overhaul tax policy aimed at supporting investment and household spending.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 2.9% to 48,870.14, and the broader Topix dropped 2.4% to 3,268.84.
Semiconductor equipment makers and AI-supply chain-linked stocks faced another turbulent day in Tokyo.
Tokyo Electron decreased 5.2% to ¥31,580.0, Advantest Corp. fell 4.2% to ¥19,165.0, Disco Corp. declined 4.3% to ¥46,140.0, and SoftBank Group plunged 7.2% to ¥18,915.0.
Isetan Mitsukoshi Holding gained 2.4% to ¥2,339.0, Fast Retailing decreased 0.4% to ¥53,300.0, Seven & I Holding declined 0.4% to ¥2,026.0, and Takashimaya Co. Ltd. fell 1.1% to ¥1,608.0.
Japan's Indexes Extended Six-Week Losses to 6%
Akira Ito
18 Nov, 2025
Tokyo
Japan's indexes extended losses for the third consecutive session, mirroring weakness in overnight trading on Wall Street.
The Nikkei 225 Stock Average dropped nearly 3%, and the broader Topix decreased 2.4%.
Stocks faced headwinds amid growing caution ahead of the release of Nvidia's quarterly results on Wednesday.
Rising tensions between Japan and China contributed to market anxieties, as investors feared that a sharp fall in Chinese tourists could hurt sales of retailers, convenience store chains, hotels, and railroad operators.
Investors were on alert ahead of the meeting between Prime Minister Sanae Takaichi and BOJ Governor Kazuo Ueda.
The Japanese yen dropped to a ten-month low amid speculation that Takaichi has publicly favored a cautious approach to rate hikes while preparing for a fiscal spending plan that could surpass expectations.
Later in the day, Takaichi is also scheduled to meet with the National Tax Commission, an advisory group to the prime minister and policymakers, as the prime minister looks to overhaul tax policy aimed at supporting investment and household spending.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 2.9% to 48,870.14, and the broader Topix dropped 2.4% to 3,268.84.
Semiconductor equipment makers and AI-supply chain-linked stocks faced another turbulent day in Tokyo.
Tokyo Electron decreased 5.2% to ¥31,580.0, Advantest Corp. fell 4.2% to ¥19,165.0, Disco Corp. declined 4.3% to ¥46,140.0, and SoftBank Group plunged 7.2% to ¥18,915.0.
Isetan Mitsukoshi Holding gained 2.4% to ¥2,339.0, Fast Retailing decreased 0.4% to ¥53,300.0, Seven & I Holding declined 0.4% to ¥2,026.0, and Takashimaya Co. Ltd. fell 1.1% to ¥1,608.0.
China and HK Indexes Deepen Losses Amid Receding Risk Appetite
Li Chen
18 Nov, 2025
Hong Kong
Stock market indexes in China and Hong Kong traded down, reflecting weakness in overnight trading in New York.
The Hang Seng index decreased 1.4%, and the mainland-focused CSI 300 index fell 1.2% as investors reassessed risk appetite for high-priced AI-linked stocks.
Stocks fell for the third consecutive session ahead of Nvidia's earnings on Wednesday and a key U.S. labor market update on Thursday.
Nvidia's quarterly results are likely to surpass market expectations on revenue, earnings, and operating margin; however, investors may sell stock after results amid growing caution.
The U.S. Bureau of Labor Statistics is scheduled to release September nonfarm payrolls on Thursday, and the delayed monthly labor market update could support the Fed's view of keeping rates unrevised at its next policy meeting in early December.
Closer to home, investors continued to avoid high-flying Internet and AI stocks amid worries about the elevated capital spending for data centers and intense domestic competition.
China Indexes and Stocks
The Hang Seng index decreased 1.4% to 26,022.36, and the CSI 300 index fell 1.2% to 4,587.80.
Alibaba Group Holding increased 1.2% to HK $157.0, Tencent Holdings added 0.8% to HK $631.50, and Baidu Inc. declined 1.5% to HK $112.0.
Electric vehicle makers Li Auto, Xiaomi, and BYD declined between 1% and 4% amid rising risks of electric batteries catching fire.
China Hongqiao Group decreased 5.4% to HK $30.52, and the aluminum maker said it sold 400 million shares for a price of HK $29.20 a share.
Three companies listed their shares in China amid strong interest from investors.
Xiamen Hengkun New Materials Technology jumped more than 280% to 57.97 yuan after the company's share began trading in Shanghai.
Bgrimm Mtc Technology soared over 300% to 27.89 yuan, and the non-ferrous mineral testing company listed its stock on the Beijing Stock Exchange.
CSG Digital Power Grid Research Institute advanced 224% to 18.51 yuan, and the company owned by China Southern Power Grid commenced trading on the Shenzhen Stock Exchange.
China and HK Indexes Deepen Losses Amid Receding Risk Appetite
Li Chen
18 Nov, 2025
Hong Kong
Stock market indexes in China and Hong Kong traded down, reflecting weakness in overnight trading in New York.
The Hang Seng index decreased 1.4%, and the mainland-focused CSI 300 index fell 1.2% as investors reassessed risk appetite for high-priced AI-linked stocks.
Stocks fell for the third consecutive session ahead of Nvidia's earnings on Wednesday and a key U.S. labor market update on Thursday.
Nvidia's quarterly results are likely to surpass market expectations on revenue, earnings, and operating margin; however, investors may sell stock after results amid growing caution.
The U.S. Bureau of Labor Statistics is scheduled to release September nonfarm payrolls on Thursday, and the delayed monthly labor market update could support the Fed's view of keeping rates unrevised at its next policy meeting in early December.
Closer to home, investors continued to avoid high-flying Internet and AI stocks amid worries about the elevated capital spending for data centers and intense domestic competition.
China Indexes and Stocks
The Hang Seng index decreased 1.4% to 26,022.36, and the CSI 300 index fell 1.2% to 4,587.80.
Alibaba Group Holding increased 1.2% to HK $157.0, Tencent Holdings added 0.8% to HK $631.50, and Baidu Inc. declined 1.5% to HK $112.0.
Electric vehicle makers Li Auto, Xiaomi, and BYD declined between 1% and 4% amid rising risks of electric batteries catching fire.
China Hongqiao Group decreased 5.4% to HK $30.52, and the aluminum maker said it sold 400 million shares for a price of HK $29.20 a share.
Three companies listed their shares in China amid strong interest from investors.
Xiamen Hengkun New Materials Technology jumped more than 280% to 57.97 yuan after the company's share began trading in Shanghai.
Bgrimm Mtc Technology soared over 300% to 27.89 yuan, and the non-ferrous mineral testing company listed its stock on the Beijing Stock Exchange.
CSG Digital Power Grid Research Institute advanced 224% to 18.51 yuan, and the company owned by China Southern Power Grid commenced trading on the Shenzhen Stock Exchange.
K-Shaped Economy and Circular AI Trade Worries Keep Wall Street Enthusiasm In Check
Barry Adams
17 Nov, 2025
New York City
Wall Street indexes rested on Monday following choppy trading in the previous week as investors remained cautious for the second consecutive week.
High-flying stocks faced another wave of selling as investors recalibrated their risk stance, retreated from the Fed's rate cut at the next meeting, and rotated to defensive stocks.
This week investors await the resumption of the release of U.S. government data and key earnings from leading retailers and tech companies.
The U.S. government reopened after a record-long shutdown near the end of last week, and the Bureau of Labor Statistics is scheduled to release September's nonfarm payroll data on Thursday.
However, government agencies may take some time to catch up with the backlog of releases; market uncertainty may persist.
Last week, global markets struggled to adjust to receding risk appetite amid stretched AI valuations and ongoing international trade uncertainties.
The reopening of the U.S. government supported market sentiment, but the elevated U.S. debt, weakening consumer confidence, and resurgent inflationary pressures kept investor enthusiasm in check.
Moreover, the weakening job market conditions supported the case that the U.S. economy may be experiencing recessionary conditions in several sectors.
Investors' expectations for rate cuts in early December may come under additional pressure as several Fed officials this week are scheduled to offer their views on the economy, inflation, and labor market.
Meanwhile, housing starts, completions, and building permit data are likely to show sustained construction activities in the South and the West regions.
The Trump administration was forced to roll back tariffs on several food items after promising for months that import taxes are paid by suppliers in foreign countries.
The continued rise in food prices has forced middle- and lower-income families to limit spending to basic items, while the top 2% of families ramp up spending on luxury items and experiences.
A narrow segment of the population and very large businesses are driving the so-called K-shaped economy and generating fewer new jobs.
On the earnings front, investors are awaiting the releases from Nvidia, Walmart, TJX, Home Depot, Lowe's, Target Corp., Palo Alto Networks, Williams-Sonoma, Gap, Macy's, Ross Stores, Medtronic, Copart, and Intuit.
K-Shaped Economy and Circular AI Trade Worries Keep Wall Street Enthusiasm In Check
Barry Adams
17 Nov, 2025
New York City
Wall Street indexes rested on Monday following choppy trading in the previous week as investors remained cautious for the second consecutive week.
High-flying stocks faced another wave of selling as investors recalibrated their risk stance, retreated from the Fed's rate cut at the next meeting, and rotated to defensive stocks.
This week investors await the resumption of the release of U.S. government data and key earnings from leading retailers and tech companies.
The U.S. government reopened after a record-long shutdown near the end of last week, and the Bureau of Labor Statistics is scheduled to release September's nonfarm payroll data on Thursday.
However, government agencies may take some time to catch up with the backlog of releases; market uncertainty may persist.
Last week, global markets struggled to adjust to receding risk appetite amid stretched AI valuations and ongoing international trade uncertainties.
The reopening of the U.S. government supported market sentiment, but the elevated U.S. debt, weakening consumer confidence, and resurgent inflationary pressures kept investor enthusiasm in check.
Moreover, the weakening job market conditions supported the case that the U.S. economy may be experiencing recessionary conditions in several sectors.
Investors' expectations for rate cuts in early December may come under additional pressure as several Fed officials this week are scheduled to offer their views on the economy, inflation, and labor market.
Meanwhile, housing starts, completions, and building permit data are likely to show sustained construction activities in the South and the West regions.
The Trump administration was forced to roll back tariffs on several food items after promising for months that import taxes are paid by suppliers in foreign countries.
The continued rise in food prices has forced middle- and lower-income families to limit spending to basic items, while the top 2% of families ramp up spending on luxury items and experiences.
A narrow segment of the population and very large businesses are driving the so-called K-shaped economy and generating fewer new jobs.
On the earnings front, investors are awaiting the releases from Nvidia, Walmart, TJX, Home Depot, Lowe's, Target Corp., Palo Alto Networks, Williams-Sonoma, Gap, Macy's, Ross Stores, Medtronic, Copart, and Intuit.