Market Update
Persistent Yen's Weakness Likely to BoJ's Rate Decision
Akira Ito
11 Dec, 2025
Tokyo
Stocks in Tokyo faced heavy selling pressure, and morning gains turned to evening losses following another day of sell-off in tech stocks.
The Nikkei 225 Stock Average decreased 0.9%, the broader Topix fell 1%, and the yen hovered at 155.95 against the U.S. dollar.
Investors continued to bet that the Bank of Japan is likely to deliver a rate hike after its policy meeting later in the month, dampening the so-called yen-dollar carry trade.
The U.S. Federal Reserve lowered its short-term benchmark rate range by 25 basis points to between 3.5% and 3.75%, the third decrease in a row following similar-sized rate cuts in September and October.
The Federal Open Market Committee left its rate outlook unrevised, signaling a possible one rate cut in 2026, revised higher its 2026 GDP growth outlook to 1.7% from 1.6%, and left jobless rate estimates unchanged at 4.5% in 2025 and 4.4% in 2026.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 0.9% to 50,148.82, and the broader Topix fell 1% to 3,357.24.
Exporters were in focus in Tokyo trading, following the persistent weakness in the yen. Technology stocks remained under pressure after Oracle's sales revenue fell short of market expectations, and a weak profit outlook dampened investor enthusiasm.
Softbank Group Corp. dropped 7.3% to ¥17,225.0, Sanrio Co. Ltd. declined 1.9% to ¥4,905.0, and Nintendo Co. Ltd. eased 1.6% to ¥11,400.0.
Persistent Yen's Weakness Likely to BoJ's Decision
Akira Ito
11 Dec, 2025
Tokyo
Stocks in Tokyo faced heavy selling pressure, and morning gains turned to evening losses following another day of sell-off in tech stocks.
The Nikkei 225 Stock Average decreased 0.9%, the broader Topix fell 1%, and the yen hovered at 155.95 against the U.S. dollar.
Investors continued to bet that the Bank of Japan is likely to deliver a rate hike after its policy meeting later in the month, dampening the so-called yen-dollar carry trade.
The U.S. Federal Reserve lowered its short-term benchmark rate range by 25 basis points to between 3.5% and 3.75%, the third decrease in a row following similar-sized rate cuts in September and October.
The Federal Open Market Committee left its rate outlook unrevised, signaling a possible one rate cut in 2026, revised higher its 2026 GDP growth outlook to 1.7% from 1.6%, and left jobless rate estimates unchanged at 4.5% in 2025 and 4.4% in 2026.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 0.9% to 50,148.82, and the broader Topix fell 1% to 3,357.24.
Exporters were in focus in Tokyo trading, following the persistent weakness in the yen. Technology stocks remained under pressure after Oracle's sales revenue fell short of market expectations, and a weak profit outlook dampened investor enthusiasm.
Softbank Group Corp. dropped 7.3% to ¥17,225.0, Sanrio Co. Ltd. declined 1.9% to ¥4,905.0, and Nintendo Co. Ltd. eased 1.6% to ¥11,400.0.
China Indexes Trade In Narrow Range Ahead of CEWC Policy Announcements
Li Chen
11 Dec, 2025
Hong Kong
Stocks in China and Hong Kong diverged as investors awaited policy signals from top leaders.
The Hang Seng Index advanced 0.5%, and the mainland-focused CSI 300 index decreased 0.3% as investors debated possible stimulus measures in the year ahead.
The Central Economic Work Conference, an annual gathering of top policymakers chaired by China's premier, sets policy priorities and economic targets for the upcoming years and is scheduled for mid-December.
Investors are estimating the government to lower the 2026 GDP growth target rate to 4.5% from the 5% rate set for 2025, amid an uncertain outlook for exports, weakening domestic consumer demand, and persistent malaise in the residential property market.
The Hong Kong Monetary Authority adjusted its benchmark rate, reflecting the U.S. Fed's rate actions, and maintained a currency peg with the U.S. dollar.
The U.S. Federal Reserve lowered the fed funds rate range by 25 basis points to between 3.5% and 3.75%, following similar moves in September and October.
The Fed's rate cut and positive views on the economy supported the market advance in overnight trading in New York.
The U.S. economy is in "good shape," and economic growth is likely to pick up after the tariff-related inflationary impact wanes, commented Fed Chair Jerome Powell after the rate decisions.
China Indexes and Stocks
The Hang Seng Index rose 0.5% to 25,563.16, and the mainland-focused CSI 300 index declined 0.3% to 4,582.51.
Jingdong Industrials, Inc., decreased 2% to HK 13.96, and the company listed its stock on the Hong Kong Stock Exchange.
The industrial supply chain technology and service provider priced its initial public offering at HK $14.10 a share and raised gross proceeds of HK $2.98 billion through the sale of 211.2 million shares.
China Indexes Trade In Narrow Range Ahead of CEWC Policy Announcements
Li Chen
11 Dec, 2025
Hong Kong
Stocks in China and Hong Kong diverged as investors awaited policy signals from top leaders.
The Hang Seng Index advanced 0.5%, and the mainland-focused CSI 300 index decreased 0.3% as investors debated possible stimulus measures in the year ahead.
The The Central Economic Work Conference, an annual gathering of top policymakers chaired by China's premier, sets policy priorities and economic targets for the upcoming years and is scheduled for mid-December.
Investors are estimating the government to lower the 2026 GDP growth target rate to 4.5% from the 5% rate set for 2025, amid an uncertain outlook for exports, weakening domestic consumer demand, and persistent malaise in the residential property market.
The Hong Kong Monetary Authority adjusted its benchmark rate, reflecting the U.S. Fed's rate actions, and maintained a currency peg with the U.S. dollar.
The U.S. Federal Reserve lowered the fed funds rate range by 25 basis points to between 3.5% and 3.75%, following similar moves in September and October.
The Fed's rate cut and positive views on the economy supported the market advance in overnight trading in New York.
The U.S. economy is in "good shape," and economic growth is likely to pick up after the tariff-related inflationary impact wanes, commented Fed Chair Jerome Powell after the rate decisions.
China Indexes and Stocks
The Hang Seng Index rose 0.5% to 25,563.16, and the mainland-focused CSI 300 index declined 0.3% to 4,582.51.
Jingdong Industrials, Inc., decreased 2% to HK 13.96, and the company listed its stock on the Hong Kong Stock Exchange.
The industrial supply chain technology and service provider priced its initial public offering at HK $14.10 a share and raised gross proceeds of HK $2.98 billion through the sale of 211.2 million shares.
Fed's Economic Views and Projections In Focus Amid Widely Expected Rate Cut
Barry Adams
10 Dec, 2025
New York City
U.S. stock indexes traded in a tight range ahead of the scheduled Fed's rate decisions later today.
The S&P 500 index decreased 0.1%, the tech-heavy Nasdaq Composite inched up a fraction, and the yield on 10-year U.S. Treasury bonds inched higher to 4.21% amid a deepening global bond market sell-off.
Bonds traded lower as traders dialed down expectations for 2026 rate cuts to two, as policymakers battled to balance inflation and job market expansion amid delayed data releases.
Traders stayed on the sidelines amid unresolved trade policy issues, elevated youth unemployment levels, resurgent food price inflation, and geopolitical uncertainties linked to Russia, Venezuela, and China.
Moreover, U.S. monetary policy uncertainty and AI bubble worries kept market sentiment in check.
As the 2025 year-end approaches, investors are worried that the tech sector rally may hit a wall, as returns on data center investments may lag expectations.
U.S. Movers
Braze Inc. soared 15% to $35.20 after the developer of a customer engagement platform reported better-than-expected revenue in the fiscal third quarter.
AeroVironment Inc. dropped 4% to $270.0, and the drone maker's fiscal second-quarter earnings fell short of market expectations.
GameStop Corp. dropped 5.7% to $21.78, and the video game retailer and meme stock reported weaker-than-expected revenue and adjusted earnings in the fiscal third quarter.
Cracker Barrel Old Country Store Inc. decreased 4% to $26.08, and the casual restaurant chain operator reported weaker-than-expected revenue and a narrower-than-estimated adjusted loss in the fiscal first quarter.
GE Vernova Inc. soared 10.2% to $688.75 after the renewable energy equipment maker said its 2025 revenue is inching towards the upper end of its estimated range.
Moreover, the company hiked its quarterly dividend to 50 cents a share from 25 cents per share.
Fed's Economic Views and Projections In Focus Amid Widely Expected Rate Cut
Barry Adams
10 Dec, 2025
New York City
U.S. stock indexes traded in a tight range ahead of the scheduled Fed's rate decisions later today.
The S&P 500 index decreased 0.1%, the tech-heavy Nasdaq Composite inched up a fraction, and the yield on 10-year U.S. Treasury bonds inched higher to 4.21% amid a deepening global bond market sell-off.
Bonds traded lower as traders dialed down expectations for 2026 rate cuts to two, as policymakers battled to balance inflation and job market expansion amid delayed data releases.
Traders stayed on the sidelines amid unresolved trade policy issues, elevated youth unemployment levels, resurgent food price inflation, and geopolitical uncertainties linked to Russia, Venezuela, and China.
Moreover, U.S. monetary policy uncertainty and AI bubble worries kept market sentiment in check.
As the 2025 year-end approaches, investors are worried that the tech sector rally may hit a wall, as returns on data center investments may lag expectations.
U.S. Movers
Braze Inc. soared 15% to $35.20 after the developer of a customer engagement platform reported better-than-expected revenue in the fiscal third quarter.
AeroVironment Inc. dropped 4% to $270.0, and the drone maker's fiscal second-quarter earnings fell short of market expectations.
GameStop Corp. dropped 5.7% to $21.78, and the video game retailer and meme stock reported weaker-than-expected revenue and adjusted earnings in the fiscal third quarter.
Cracker Barrel Old Country Store Inc. decreased 4% to $26.08, and the casual restaurant chain operator reported weaker-than-expected revenue and a narrower-than-estimated adjusted loss in the fiscal first quarter.
GE Vernova Inc. soared 10.2% to $688.75 after the renewable energy equipment maker said its 2025 revenue is inching towards the upper end of its estimated range.
Moreover, the company hiked its quarterly dividend to 50 cents a share from 25 cents per share.
Japan's PPI Inflation Stable In November, Ueda Says Inflation Nearing BoJ's Target
Akira Ito
10 Dec, 2025
Tokyo
Japan's bond yields hovered at 18-year highs amid rising expectations that the Bank of Japan is more likely to raise rates next week.
The Nikkei 225 Stock Average decreased 0.5%, and the broader Topix declined 0.1% as the yen remained under pressure and traded at 156.65 against the U.S. dollar.
Bank of Japan Governor Kazuo Ueda, in his prepared remarks, suggested that inflation is approaching the central bank's target rate, supporting the case for a rate hike.
The yield on the 10-year Japanese government bond held at 1.96%, an 18-year high, as the bond market adjusts to higher rates in 2026.
Japan's workers' unions are likely to demand a wage increase of more than 4% at the end of spring negotiations, a third annual increase in a row.
However, small and medium enterprises are likely to raise wages at a slower pace amid high inflation, subdued domestic demand growth, and an uncertain outlook for exports.
Japan's producer price index rose 2.7% in November, matching the annual rate in the previous month, according to the Bank of Japan.
In a broad-based price increase, prices for food and beverages rose 4.9%, transportation equipment advanced 1.6%, and general-purpose machinery inched higher 2.7%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.5% to 50,426.24, and the broader Topix declined 0.1% to 3,383.19.
Technology stocks remained under pressure, reflecting market weakness in overnight trading in New York ahead of the Federal Reserve's rate decisions later in the day.
Tokyo Electron decreased 1.4% to ¥33,120.0, Advantest Corp. declined 0.5% to ¥20,150.0, and Lasertec Corp. dropped 4.2% to ¥31,520.0.
IHI Corp. fell 1.4% to ¥3,002.0, Kawasaki Heavy Industries rose 2.5% to ¥11,720.0, and Mitsubishi Heavy Industries eased 0.5% to ¥4,245.0.
Japan's PPI Inflation Stable In November, Ueda Says Inflation Nearing BoJ's Target
Akira Ito
10 Dec, 2025
Tokyo
Japan's bond yields hovered at 18-year highs amid rising expectations that the Bank of Japan is more likely to raise rates next week.
The Nikkei 225 Stock Average decreased 0.5%, and the broader Topix declined 0.1% as the yen remained under pressure and traded at 156.65 against the U.S. dollar.
Bank of Japan Governor Kazuo Ueda, in his prepared remarks, suggested that inflation is approaching the central bank's target rate, supporting the case for a rate hike.
The yield on the 10-year Japanese government bond held at 1.96%, an 18-year high, as the bond market adjusts to higher rates in 2026.
Japan's workers' unions are likely to demand a wage increase of more than 4% at the end of spring negotiations, a third annual increase in a row.
However, small and medium enterprises are likely to raise wages at a slower pace amid high inflation, subdued domestic demand growth, and an uncertain outlook for exports.
Japan's producer price index rose 2.7% in November, matching the annual rate in the previous month, according to the Bank of Japan.
In a broad-based price increase, prices for food and beverages rose 4.9%, transportation equipment advanced 1.6%, and general-purpose machinery inched higher 2.7%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.5% to 50,426.24, and the broader Topix declined 0.1% to 3,383.19.
Technology stocks remained under pressure, reflecting market weakness in overnight trading in New York ahead of the Federal Reserve's rate decisions later in the day.
Tokyo Electron decreased 1.4% to ¥33,120.0, Advantest Corp. declined 0.5% to ¥20,150.0, and Lasertec Corp. dropped 4.2% to ¥31,520.0.
IHI Corp. fell 1.4% to ¥3,002.0, Kawasaki Heavy Industries rose 2.5% to ¥11,720.0, and Mitsubishi Heavy Industries eased 0.5% to ¥4,245.0.
China's Inflation Reports Highlight Ongoing Demand Slowdown
Li Chen
10 Dec, 2025
Hong Kong
Stocks in China and Hong Kong turned lower, and investors held back from adding new positions ahead of the release of China's 2026 policy priorities.
The Hang Seng Index decreased 0.4%, and the mainland-focused CSI 300 index fell 0.4% as international investors awaited the release of the U.S. Federal Reserve's rate decisions.
Traders in Asia and China are factoring in a 25-basis-point rate cut, but the Fed's pace and number of rate cuts are likely to impact trading sentiment.
Policymakers are struggling to contain inflationary forces while keeping the labor market from weakening further. For now, investors are hoping that policymakers will deliver a third consecutive rate cut and signal readiness to cut more in 2026.
Closer to home, investors reviewed the latest inflation updates released by the National Bureau of Statistics.
Consumer price inflation accelerated in November to 0.7% from 0.2% in the previous month and rose for the second consecutive month.
The headline inflation advanced following a 0.2% increase in food prices, after declining 2.9% in October.
China's producer price index decreased 2.2% in November; the measure of wholesale prices fell for the 38th consecutive month, said the statistical bureau in a separate report.
Despite the government's efforts to stem intense competition, prices continue to fall in several industries as businesses battle weak demand.
On a monthly basis, producer prices rose by 0.1%, matching the rate in October.
China Indexes and Stocks
The Hang Seng Index decreased 0.4% to 25,324.75, and the mainland-focused CSI 300 index dropped 0.4% to 4,559.85.
Technology stocks remained under pressure amid a lack of interest and worries about an AI bubble.
Alibaba Group Holding added 0.3% to HK $151.30, Tencent Holdings dropped 1.8% to HK $596.0, and Baidu Inc. advanced 0.9% to HK $122.50.
China's Inflation Reports Highlight Ongoing Demand Slowdown
Li Chen
10 Dec, 2025
Hong Kong
Stocks in China and Hong Kong turned lower, and investors held back from adding new positions ahead of the release of China's 2026 policy priorities.
The Hang Seng Index decreased 0.4%, and the mainland-focused CSI 300 index fell 0.4% as international investors awaited the release of the U.S. Federal Reserve's rate decisions.
Traders in Asia and China are factoring in a 25-basis-point rate cut, but the Fed's pace and number of rate cuts are likely to impact trading sentiment.
Policymakers are struggling to contain inflationary forces while keeping the labor market from weakening further. For now, investors are hoping that policymakers will deliver a third consecutive rate cut and signal readiness to cut more in 2026.
Closer to home, investors reviewed the latest inflation updates released by the National Bureau of Statistics.
Consumer price inflation accelerated in November to 0.7% from 0.2% in the previous month and rose for the second consecutive month.
The headline inflation advanced following a 0.2% increase in food prices, after declining 2.9% in October.
China's producer price index decreased 2.2% in November; the measure of wholesale prices fell for the 38th consecutive month, said the statistical bureau in a separate report.
Despite the government's efforts to stem intense competition, prices continue to fall in several industries as businesses battle weak demand.
On a monthly basis, producer prices rose by 0.1%, matching the rate in October.
China Indexes and Stocks
The Hang Seng Index decreased 0.4% to 25,324.75, and the mainland-focused CSI 300 index dropped 0.4% to 4,559.85.
Technology stocks remained under pressure amid a lack of interest and worries about an AI bubble.
Alibaba Group Holding added 0.3% to HK $151.30, Tencent Holdings dropped 1.8% to HK $596.0, and Baidu Inc. advanced 0.9% to HK $122.50.
Fed's Hawkish Rate Cut Could Inject More Market Volatility
Barry Adams
09 Dec, 2025
New York City
Stocks on Wall Street lacked direction for the second consecutive week, and investors debated the future rate path.
The S&P 500 index edged up 0.1%, and the tech-heavy Nasdaq Composite inched higher 0.2% ahead of the U.S. Fed's rate decisions on Wednesday.
Wall Street indexes may be jolted if the expected rate cut fails to materialize, and investors are keenly awaiting the release of the Fed's economic projections and Fed Chair Powell's comments.
The Federal Reserve's possible rate cut this week will follow previous cuts in September and October, and policymakers may signal fewer rate cuts in 2026, which could set the tone for trading for the rest of the month.
U.S. Stock Movers
AutoZone, AeroVironment, and Cracker Barrel are set to release their quarterly results today, and Chewy, Oracle, Synopsys, and Vail Resorts are expected to release their financial updates on Wednesday.
Nvidia jumped 1.7% to $185.29 in the previous trading session, after the U.S. permitted the sale of the company's H200 artificial intelligence chip to China.
However, the U.S. permission to sell the chip to China comes at a hefty price, with the U.S. government collecting a 25% tariff.
Broadcom Inc. jumped 2.8% to $401.10, and Microsoft Corp. added 1.6% to $491.02 on speculation that Microsoft may design a custom chip in a partnership with Broadcom, according to a report from The Information.
Fed's Hawkish Rate Cut Could Inject More Market Volatility
Barry Adams
09 Dec, 2025
New York City
Stocks on Wall Street lacked direction for the second consecutive week, and investors debated the future rate path.
The S&P 500 index edged up 0.1%, and the tech-heavy Nasdaq Composite inched higher 0.2% ahead of the U.S. Fed's rate decisions on Wednesday.
Wall Street indexes may be jolted if the expected rate cut fails to materialize, and investors are keenly awaiting the release of the Fed's economic projections and Fed Chair Powell's comments.
The Federal Reserve's possible rate cut this week will follow previous cuts in September and October, and policymakers may signal fewer rate cuts in 2026, which could set the tone for trading for the rest of the month.
U.S. Stock Movers
AutoZone, AeroVironment, and Cracker Barrel are set to release their quarterly results today, and Chewy, Oracle, Synopsys, and Vail Resorts are expected to release their financial updates on Wednesday.
Nvidia jumped 1.7% to $185.29 in the previous trading session, after the U.S. permitted the sale of the company's H200 artificial intelligence chip to China.
However, the U.S. permission to sell the chip to China comes at a hefty price, with the U.S. government collecting a 25% tariff.
Broadcom Inc. jumped 2.8% to $401.10, and Microsoft Corp. added 1.6% to $491.02 on speculation that Microsoft may design a custom chip in a partnership with Broadcom, according to a report from The Information.
Japan's Bond Yields Traded Near 18-Year High, Stocks Lacked Direction
Akira Ito
09 Dec, 2025
Mumbai
Risk-off mood dominated trading in Tokyo on Tuesday, and bond yields hit a new 18-year high.
The Nikkei 225 Stock Average decreased 0.02%, and the broader Topix eased 0.1% as investors speculated about the Bank of Japan's next move.
Market sentiment was depressed amid a growing realization that the U.S. Federal Reserve may deliver a 25 basis-point rate cut but signal fewer rate cuts in 2026.
The so-called "hawkish cut" could inject additional market volatility amid elevated macroeconomic uncertainties and unresolved trade issues with the U.S. and rising political tensions with China.
Market sentiment has been under pressure after political tensions rose between China and Japan, and Japan said China's military planes targeted Japan's jets for fire training.
Investors turned defensive after a 7.6-magnitude earthquake struck Japan's northeast coast overnight.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged down 0.02% to 50,568.48, and the broader Topix fell 0.1% to 3,382.24. The yield on 10-year Japanese government bonds inched higher to 1.958%, a new 18-year high.
Defense-related stocks, AI-linked semiconductor equipment makers, and financial services providers dominated in trading in Tokyo.
IHI Corp. added 0.1% to ¥3,053.0, Fujikura Ltd. increased 0.3% to ¥18,500.0, and Nintendo Co. Ltd. fell 3.5% to ¥11,895.0.
Tokyo Electron added 1.1% to ¥33,540.0, Advantest Corp. added 0.03% to ¥20,255.0, and Disco Corp. jumped 4.6% to ¥49,670.0.
Japan's Bond Yields Traded Near 18-Year High, Stocks Lacked Direction
Akira Ito
09 Dec, 2025
Mumbai
Risk-off mood dominated trading in Tokyo on Tuesday, and bond yields hit a new 18-year high.
The Nikkei 225 Stock Average decreased 0.02%, and the broader Topix eased 0.1% as investors speculated about the Bank of Japan's next move.
Market sentiment was depressed amid a growing realization that the U.S. Federal Reserve may deliver a 25 basis-point rate cut but signal fewer rate cuts in 2026.
The so-called "hawkish cut" could inject additional market volatility amid elevated macroeconomic uncertainties and unresolved trade issues with the U.S. and rising political tensions with China.
Market sentiment has been under pressure after political tensions rose between China and Japan, and Japan said China's military planes targeted Japan's jets for fire training.
Investors turned defensive after a 7.6-magnitude earthquake struck Japan's northeast coast overnight.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged down 0.02% to 50,568.48, and the broader Topix fell 0.1% to 3,382.24. The yield on 10-year Japanese government bonds inched higher to 1.958%, a new 18-year high.
Defense-related stocks, AI-linked semiconductor equipment makers, and financial services providers dominated in trading in Tokyo.
IHI Corp. added 0.1% to ¥3,053.0, Fujikura Ltd. increased 0.3% to ¥18,500.0, and Nintendo Co. Ltd. fell 3.5% to ¥11,895.0.
Tokyo Electron added 1.1% to ¥33,540.0, Advantest Corp. added 0.03% to ¥20,255.0, and Disco Corp. jumped 4.6% to ¥49,670.0.
China Indexes Lacked Momentum Amid a Lack of Investor Enthusiasm
Li Chen
09 Dec, 2025
Hong Kong
Stocks in China and Hong Kong faced another wave of selling amid a lack of enthusiasm from investors.
The Hang Seng Index decreased nearly 1%, and the mainland-focused CSI 300 index eased 0.2% as investors stayed on the sidelines ahead of announcements from the annual economic conference.
Investors dialed down stimulus expectations after a statement from the December Politburo meeting showed a lack of urgency for measures to support economic expansion and few details about policy priorities for 2026.
China's annual Central Economic Work Conference is seen by investors as a platform for policymakers to set next year's economic agenda and set an economic growth target.
Investors expect China's top economic forum to set an annual economic growth target between 4.0% and 4.5%, which is lower than the 5.0% target in 2025.
Foreign investors in Hong Kong avoided adding new stock positions amid uncertainty about the number of U.S. rate cuts in 2026. The U.S. Federal Reserve is widely expected to lower interest rates at the end of its 2-day policy meeting and update economic projections for 2026.
China Indexes and Stocks
The Hang Seng Index decreased 0.8% to 25,549.94, and the mainland-focused CSI 300 index fell 0.2% to 4,615.33.
Chipmakers traded down after the Trump administration allowed Nvidia to export its H200 artificial intelligence chip to China.
SMIC dropped 2.7% to HK $70.10, Xiaomi Corp. fell 2.2% to HK $41.42, Alibaba Group Holding decreased 1.5% to HK $152.70, and Baidu Inc. declined 2.3% to HK $122.90.
Nongfu Spring Co. Ltd. declined 0.5% to HK $46.86, Pop Mart International Group fell 4.4% to HK $192.30, and Mixue Group decreased 1.6% to HK $392.60.