Market Update
Hang Seng Index Soared 2%, Reflecting Enthusiasm In Mainland Markets
Li Chen
01 Sep, 2025
Hong Kong
Stock market indexes in Hong Kong soared as investors played catch-up tracking last week's gains in the mainland.
The Hang Seng index increased 1.8%, and the mainland-focused CSI 300 index decreased 0.1%, amid sustained buying by the state-controlled enterprises on mainland bourses.
Interim results dominated market sentiment, and Alibaba Group soared 15%, and BOC Hong Kong advanced 7%.
On the economic front, the official survey of the manufacturing sector activities showed a slight increase in August.
The General Manufacturing PMI increased to 49.4 from 49.3 in July, the National Bureau of Statistics reported on Sunday.
The private sector business activities in the manufacturing sector are facing headwinds from the erratic U.S. trade policy and softer domestic demand.
The separate survey released by S&P Global showed an increase in business activities.
The RatingDog China General Manufacturing PMI edged up to 50.5 in August from 49.5 in July, amid sustained foreign demand and a rebound in domestic orders.
The private survey of business activities has a larger sample size of smaller businesses and companies engaged in export activities.
China Indexes and Stocks
The Hang Seng Index gained 1.8% to 25,523.13, and the mainland-focused CSI 300 index decreased 0.1% to 4,491.46.
Alibaba Group Holding Ltd. soared 17% to HK$135.60 after the company's earnings surpassed market expectations.
Alibaba Health Information Technology increased 6.2% to HK$5.80, following the parent company Alibaba Group's results.
BOC Hong Kong Holdings Ltd. increased 6% to HK$37.34 after net income in the first half increased 11% from a year ago.
China Minsheng Banking decreased 0.9% to HK$37.34, despite the bank reporting stronger interim results.
Operating income increased 7.8% to 70.7 billion yuan from 65.6 billion yuan, net profit attributable to shareholders decreased 4.8% to 21.4 billion yuan from 22.4 billion yuan, and diluted earnings per share rose to 0.45 yuan from 0.43 yuan a year ago.
The annualized net interest rate margin edged higher to 1.39% from 1.38%, and the Tier-1 capital adequacy ratio improved to 13.25% from 12.89% a year ago.
Hang Seng Index Soared 2%, Reflecting Enthusiasm In Mainland Markets
Li Chen
01 Sep, 2025
Hong Kong
Stock market indexes in Hong Kong soared as investors played catch-up tracking last week's gains in the mainland.
The Hang Seng index increased 1.8%, and the mainland-focused CSI 300 index decreased 0.1%, amid sustained buying by the state-controlled enterprises on mainland bourses.
Interim results dominated market sentiment, and Alibaba Group soared 15%, and BOC Hong Kong advanced 7%.
On the economic front, the official survey of the manufacturing sector activities showed a slight increase in August.
The General Manufacturing PMI increased to 49.4 from 49.3 in July, the National Bureau of Statistics reported on Sunday.
The private sector business activities in the manufacturing sector are facing headwinds from the erratic U.S. trade policy and softer domestic demand.
The separate survey released by S&P Global showed an increase in business activities.
The RatingDog China General Manufacturing PMI edged up to 50.5 in August from 49.5 in July, amid sustained foreign demand and a rebound in domestic orders.
The private survey of business activities has a larger sample size of smaller businesses and companies engaged in export activities.
China Indexes and Stocks
The Hang Seng Index gained 1.8% to 25,523.13, and the mainland-focused CSI 300 index decreased 0.1% to 4,491.46.
Alibaba Group Holding Ltd. soared 17% to HK$135.60 after the company's earnings surpassed market expectations.
Alibaba Health Information Technology increased 6.2% to HK$5.80, following the parent company Alibaba Group's results.
BOC Hong Kong Holdings Ltd. increased 6% to HK$37.34 after net income in the first half increased 11% from a year ago.
China Minsheng Banking decreased 0.9% to HK$37.34, despite the bank reporting stronger interim results.
Operating income increased 7.8% to 70.7 billion yuan from 65.6 billion yuan, net profit attributable to shareholders decreased 4.8% to 21.4 billion yuan from 22.4 billion yuan, and diluted earnings per share rose to 0.45 yuan from 0.43 yuan a year ago.
The annualized net interest rate margin edged higher to 1.39% from 1.38%, and the Tier-1 capital adequacy ratio improved to 13.25% from 12.89% a year ago.
Wall Street Indexes Extended Rally to Fourth Consecutive Month, Stubborn Inflation Data
Barry Adams
29 Aug, 2025
New York City
Wall Street indexes turned lower on Friday as investors booked profit ahead of the three-day weekend.
The S&P 500 index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.6% as investors reviewed earnings updates from leading tech and industrial companies.
U.S. indexes retreated after the latest economic report confirmed stubborn inflationary forces and a widening goods trade deficit.
Inflation Stayed Elevated In July
The personal consumption expenditure price index advanced 0.2% on the month and 2.6% on the year in July.
The core PCE price index inched up 0.3% on the month and advanced 2.9% on the year, confirming underlying elevated inflationary pressure.
The PCE price index, the preferred measure of inflation by the policymakers, generally understates inflation because it includes consumers' behavior to substitute cheaper products.
U.S. Goods Deficit Expanded In July
The U.S. goods trade deficit widened by $18.7 billion from the previous month to $103.6 billion, according to the latest data released by the U.S. Census Bureau.
On an annual basis, the goods trade deficit was nearly unchanged.
Goods exports decreased 0.1% from the previous month to $178 billion but rose from $173 billion a year ago.
Goods imports soared 7.1% from the previous month to $281.5 billion, as businesses front-loaded inventories ahead of new U.S. tariffs.
Goods imports in the year-ago period totaled $277 billion.
U.S. Stock Movers
Alibaba Group Holding Ltd. jumped 6.4% to $119.57, and the China-based e-commerce company reported mixed quarterly results.
Total revenue rose 2% to 247.7 billion yuan, and net income attributable to shareholders surged 78% to 43.1 billion yuan ($6 billion) from 24.3 billion yuan a year ago.
The earnings growth was driven by mark-to-market changes from equity investment and gains from the disposal of the local consumer service business of Trendyol.
Cloud computing unit growth accelerated to 26% to 33.4 billion yuan, from an increase of 18% in the March quarter.
The company's domestic online business expanded sales by 10% from a year ago to 140 billion yuan.
Autodesk Inc. soared 11% to $323.0 after the software company delivered better-than-expected earnings in the second quarter.
The design software company reported revenue of $1.76 billion and net income of $2.62 per share.
Caterpillar Inc. declined 2.4% to $424.49, and the farm and construction equipment company said tariff-driven charges could range between $1.5 billion and $1.8 billion in the current fiscal year.
Revenue in the second quarter edged down to $16.6 billion from $16.7 billion, net income fell to $2.2 billion from $2.7 billion, and diluted earnings per share fell to $4.62 from $5.48 a year ago, respectively.
Dell Technologies dropped 9.8% to $121.04 after the company's earnings outlook fell short of investor expectations.
Consolidated revenue in the fiscal second quarter increased 19% to $29.78 billion from $25 billion, net income jumped 32% to $1.16 billion from $882 million, and diluted earnings per share rose 38% to $1.70 from $1.23 a year ago.
Dell Technologies returned $1.3 billion to shareholders in the quarter through share repurchases and dividends.
Dell guided fiscal third-quarter revenue to be between $26.5 billion and $27.5 billion, with diluted earnings per share expected to be $2.07 and adjusted diluted earnings per share to be $2.45 at the midpoint, respectively.
Wall Street Indexes Extended Rally to Fourth Consecutive Month, Stubborn Inflation Data
Barry Adams
29 Aug, 2025
New York City
Wall Street indexes turned lower on Friday as investors booked profit ahead of the three-day weekend.
The S&P 500 index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.6% as investors reviewed earnings updates from leading tech and industrial companies.
U.S. indexes retreated after the latest economic report confirmed stubborn inflationary forces and a widening goods trade deficit.
Inflation Stayed Elevated In July
The personal consumption expenditure price index advanced 0.2% on the month and 2.6% on the year in July.
The core PCE price index inched up 0.3% on the month and advanced 2.9% on the year, confirming underlying elevated inflationary pressure.
The PCE price index, the preferred measure of inflation by the policymakers, generally understates inflation because it includes consumers' behavior to substitute cheaper products.
U.S. Goods Deficit Expanded In July
The U.S. goods trade deficit widened by $18.7 billion from the previous month to $103.6 billion, according to the latest data released by the U.S. Census Bureau.
On an annual basis, the goods trade deficit was nearly unchanged.
Goods exports decreased 0.1% from the previous month to $178 billion but rose from $173 billion a year ago.
Goods imports soared 7.1% from the previous month to $281.5 billion, as businesses front-loaded inventories ahead of new U.S. tariffs.
Goods imports in the year-ago period totaled $277 billion.
U.S. Stock Movers
Alibaba Group Holding Ltd. jumped 6.4% to $119.57, and the China-based e-commerce company reported mixed quarterly results.
Total revenue rose 2% to 247.7 billion yuan, and net income attributable to shareholders surged 78% to 43.1 billion yuan ($6 billion) from 24.3 billion yuan a year ago.
The earnings growth was driven by mark-to-market changes from equity investment and gains from the disposal of the local consumer service business of Trendyol.
Cloud computing unit growth accelerated to 26% to 33.4 billion yuan, from an increase of 18% in the March quarter.
The company's domestic online business expanded sales by 10% from a year ago to 140 billion yuan.
Autodesk Inc. soared 11% to $323.0 after the software company delivered better-than-expected earnings in the second quarter.
The design software company reported revenue of $1.76 billion and net income of $2.62 per share.
Caterpillar Inc. declined 2.4% to $424.49, and the farm and construction equipment company said tariff-driven charges could range between $1.5 billion and $1.8 billion in the current fiscal year.
Revenue in the second quarter edged down to $16.6 billion from $16.7 billion, net income fell to $2.2 billion from $2.7 billion, and diluted earnings per share fell to $4.62 from $5.48 a year ago, respectively.
Dell Technologies dropped 9.8% to $121.04 after the company's earnings outlook fell short of investor expectations.
Consolidated revenue in the fiscal second quarter increased 19% to $29.78 billion from $25 billion, net income jumped 32% to $1.16 billion from $882 million, and diluted earnings per share rose 38% to $1.70 from $1.23 a year ago.
Dell Technologies returned $1.3 billion to shareholders in the quarter through share repurchases and dividends.
Dell guided fiscal third-quarter revenue to be between $26.5 billion and $27.5 billion, with diluted earnings per share expected to be $2.07 and adjusted diluted earnings per share to be $2.45 at the midpoint, respectively.
Stock Movers: Best Buy, Dell Technologies, Dollar General
Scott Peters
29 Aug, 2025
New York City
Dell Technologies Inc. fell 5.3% to $127 despite the computer products and services provider reporting a rise in net income in the fiscal second quarter ending on August 1.
Consolidated revenue increased 19% to $29.78 billion from $25 billion, net income jumped 32% to $1.16 billion from $882 million, and diluted earnings per share rose 38% to $1.70 from $1.23 a year ago.
Dell Technologies returned $1.3 billion to shareholders in the quarter through share repurchases and dividends.
Dell guided fiscal third-quarter revenue to be between $26.5 billion and $27.5 billion, with diluted earnings per share expected to be $2.07 and adjusted diluted earnings per share to be $2.45 at the midpoint, respectively.
Dell guided full-year revenue between $105 billion and $109 billion, diluted earnings per share of $7.98, and adjusted diluted earnings per share to be $9.55 at the midpoint, respectively.
“We’ve now shipped $10 billion of AI solutions in the first half of FY26, surpassing all shipments in FY25. This helped deliver another record revenue quarter in our Servers and Networking business, which grew 69%,” said Jeff Clarke, vice chairman and chief operating officer, Dell Technologies.
Dollar General Corp. fell 0.4% to $111.25 after the discount retailer reported a 9% rise in earnings in the fiscal second quarter ending on August 1.
Consolidated revenue inched higher to $10.7 billion from $10.2 billion, net income climbed to $411 million from $374 million, and diluted earnings per share soared to $1.86 from $1.70 a year ago.
The discount retailer estimated fiscal 2025 net revenue to increase between 4.3% and 4.8%, same-store sales to rise between 2.1% and 2.6%, and diluted earnings per share to be between $5.80 and 6.30.
The company’s financial guidance continues to assume no share repurchases in fiscal year 2025 and an effective tax rate of 23.5%.
The company's board declared a quarterly cash dividend of $0.59 per share, payable on October 21 to shareholders on record on October 7.
The company reiterated its plans to execute approximately 4,885 real estate projects in fiscal year 2025, including opening approximately 575 new stores in the U.S. and up to 15 new stores in Mexico.
The retailer plans to remodel approximately 2,000 stores through "Project Renovate" and 2,250 stores through "Project Elevate," and relocate approximately 45 stores.
Best Buy Co. Inc. decreased 0.5% to $72.31 after the consumer electronics retailer reported a 36% decline in profit in the fiscal second quarter ending on August 2.
Consolidated revenue edged higher to $9.4 billion from $9.3 billion, net income declined to $186 million from $291 million, and diluted earnings per share dropped to 87 cents from $1.34 a year ago.
Best Buy reiterates its full-year revenue estimate to be between $41.1 billion and $41.9 billion, adjusted operating income rate to be 4.2%, comparable sales to rise 1%, and adjusted diluted earnings per share to be between $6.15 and $6.30.
For the full year, the company expects to spend approximately $300 million on share repurchases.
During the second quarter, the company returned a total of $266 million to shareholders through dividends of $201 million and share repurchases of $65 million.
For the year-to-date, the company returned a total of $568 million to shareholders, including $403 million in dividends and $165 million in share repurchases.
The company's board declared a quarterly cash dividend of $0.95 per share, payable on October 9 to shareholders on record on September 18.
Best Buy delivered comparable sales growth of 1.6% in the second quarter.