Market Update
China Update Tuesday
Li Chen
22 Jul, 2025
Hong Kong
Stocks in China and Hong Kong lacked direction ahead of possible announcements after the Politburo meeting.
The Hang Seng index and the mainland-focused CSI 300 index wavered around the flatline, and benchmark indexes traded near three-year highs.
China's leaders are likely to focus on curbing "excessive" competition in solar panels, electric vehicles, and lithium batteries.
Solar panel makers are struggling with falling prices, lackluster growth in demand, and high tariffs in the U.S.
About 60 leading solar panel makers are likely to report large losses for the third year in a row, despite rising domestic and global sales.
Electric vehicle and lithium battery makers are facing stagnant sales amid intense price competition and a sharp rise in production capacity.
Moreover, investors are looking forward to possible stimulus measures to support residential properties as home prices retain a downward bias for the second consecutive year.
China Indexes and Stocks
The Hang Seng index edged up 0.01% to 24,991.34, and the mainland-focused CSI 300 index inched higher 0.2% to 4,095.28.
New Oriental Education & Technology Group decreased 4.4% to HK $37.05, but Kuaishou Technology gained 1.5% to HK $72.55.
Li Auto declined 2.4% to HK $119.90, BYD fell 2.4% to HK ¥118.0, and Xpeng eased 0.4% to $71.85.
S&P 500 and Nasdaq Scale New Highs Ahead of Big Tech Earnings
Barry Adams
21 Jul, 2025
New York City
Wall Street indexes advanced on Monday and extended four-week-long gains amid earnings optimism.
The S&P 500 index edged up 0.6%, and the tech-focused Nasdaq Composite advanced 0.8%, ahead of a flood of tech earnings this week.
The upcoming week will focus on earnings, with approximately 150 U.S. companies scheduled to release their results.
Investors are awaiting results from Alphabet, IBM, Tesla, Intel, AT&T, Verizon, Lockheed Martin, Raytheon, Texas Instruments, ServiceNow, and Coca-Cola Company.
Last week, the two-month-long market rally got an additional boost following resilient consumer spending update, weakening jobless claims data, and strong earnings from big banks and airlines.
This week on the economic front, durable goods orders are on tap, and new and existing home sales are likely to show modest increases in the last month.
For now, investors are willing to increase exposure to riskier assets because the sharp increase in U.S. import tax has not been visible in inflation reports.
However, inflation is likely to pick up in the months ahead if businesses pass on higher tariffs to consumers.
The effective tariff rate on U.S. imports has jumped from 2.4% a year ago to close to 9% in June, and U.S. Customs collected $27 billion in tariffs compared to $7.9 billion a year ago.
In 2025, total tariff collection is likely to cross $300 billion and exceed $450 billion in 2026, sharply higher than $77 billion in 2024.
And tariff levels are still rising, potentially reaching close to 20%, meaning more pain for businesses and consumers.
U.S. Indexes and Stocks
The S&P 500 index inched up 0.6% to 6,331.45, and the tech-heavy Nasdaq Composite added 0.8% to 6,331.45.
Domino's Pizza Inc. decreased 0.6% to $465.03, despite the company delivering better-than-expected sales growth in the second quarter.
Total revenues increased 4.3% to $1.14 billion from $1.09 billion, net income decreased 7.7% to $131 million from $142 million, and diluted earnings per share declined 5.5% to $3.81 from $4.03 a year ago.
Global retail sales rose 5.6%, driven by a 5.1% increase in U.S. stores and 6.0% in international sales.
U.S. same-store sales advanced 3.4%, and international same-store sales rose 2.4%, as U.S. consumers switched to value offerings and avoided expensive dining-out options because of growing macroeconomic uncertainties.
The company announced quarterly cash dividend of $1.74 per share to shareholders on record on September 15 to be paid on September 30.
S&P 500 and Nasdaq Scale New Highs Ahead of Big Tech Earnings
Barry Adams
21 Jul, 2025
New York City
Wall Street indexes advanced on Monday and extended four-week-long gains amid earnings optimism.
The S&P 500 index edged up 0.6%, and the tech-focused Nasdaq Composite advanced 0.8%, ahead of a flood of tech earnings this week.
The upcoming week will focus on earnings, with approximately 150 U.S. companies scheduled to release their results.
Investors are awaiting results from Alphabet, IBM, Tesla, Intel, AT&T, Verizon, Lockheed Martin, Raytheon, Texas Instruments, ServiceNow, and Coca-Cola Company.
Last week, the two-month-long market rally got an additional boost following resilient consumer spending update, weakening jobless claims data, and strong earnings from big banks and airlines.
This week on the economic front, durable goods orders are on tap, and new and existing home sales are likely to show modest increases in the last month.
For now, investors are willing to increase exposure to riskier assets because the sharp increase in U.S. import tax has not been visible in inflation reports.
However, inflation is likely to pick up in the months ahead if businesses pass on higher tariffs to consumers.
The effective tariff rate on U.S. imports has jumped from 2.4% a year ago to close to 9% in June, and U.S. Customs collected $27 billion in tariffs compared to $7.9 billion a year ago.
In 2025, total tariff collection is likely to cross $300 billion and exceed $450 billion in 2026, sharply higher than $77 billion in 2024.
And tariff levels are still rising, potentially reaching close to 20%, meaning more pain for businesses and consumers.
U.S. Indexes and Stocks
The S&P 500 index inched up 0.6% to 6,331.45, and the tech-heavy Nasdaq Composite added 0.8% to 6,331.45.
Domino's Pizza Inc. decreased 0.6% to $465.03, despite the company delivering better-than-expected sales growth in the second quarter.
Total revenues increased 4.3% to $1.14 billion from $1.09 billion, net income decreased 7.7% to $131 million from $142 million, and diluted earnings per share declined 5.5% to $3.81 from $4.03 a year ago.
Global retail sales rose 5.6%, driven by a 5.1% increase in U.S. stores and 6.0% in international sales.
U.S. same-store sales advanced 3.4%, and international same-store sales rose 2.4%, as U.S. consumers switched to value offerings and avoided expensive dining-out options because of growing macroeconomic uncertainties.
The company announced quarterly cash dividend of $1.74 per share to shareholders on record on September 15 to be paid on September 30.
S&P 500 and Nasdaq Set New Record Highs as Investors Cheer Strong Earnings
Barry Adams
18 Jul, 2025
New York City
Wall Street indexes scaled new highs on Friday and extended weekly gains, following a string of positive earnings.
The S&P 500 index inched higher 0.2%, and the tech-focused Nasdaq Composite advanced 0.3%, as investors remained sharply focused on the fresh batch of earnings.
American Express, Netflix, Interactive Brokers, and 3M reported stronger-than-expected quarterly reports, supporting the eight-week rally.
For the week, the S&P 500 index increased 1%, and the Nasdaq Composite inched higher 1.8%, after big banks reported strong quarterly results and economic data confirmed a resilient labor market and consumer spending.
U.S. Stock Movers
Netflix Inc. decreased 2.5% to $1,242.50 despite the streaming media company's quarterly results surpassing market expectations.
Consolidated revenue in the quarter increased 16% to $11.1 billion from $9.6 billion, net income jumped to $3.1 billion from $2.1 billion, and diluted earnings per share rose 47% to $7.19 from $4.88 a year ago.
Netflix estimated annual revenue to range between $44.8 and $45.2 billion, compared to the previous range between $43.5 and $44.5 billion.
Norfolk Southern Corp. jumped 4.4% to $281.73 on speculation that the company is likely to be a takeover target of Union Pacific.
The Wall Street Journal reported the possible deal, citing people familiar with the acquisition talks.
Union Pacific Corp. jumped 0.4% to $228.31.
Interactive Brokers Group advanced 5.5% to $62.70, and the online brokerage services provider's revenue and profit surpassed analysts' expectations.
Total net revenue in the second quarter increased to $1.5 billion from $1.2 billion, net income advanced to $224 million from $179 million, and diluted earnings per share increased to 51 cents from 41 cents a year ago.
3M Company advanced 3.1% to $164.0, and the diversified conglomerate raised its annual outlook and reported better-than-expected quarterly results.
The company raised its full-year earnings outlook to a range between $7.75 and $8.0, adjusted total sales growth of about 2.5%, and operating cash flow between $5.1 billion and $5.5 billion.
Net sales increased 1.4% to $6.34 billion from $6.25 billion, net income fell to $723 million from $1.2 billion, and diluted earnings per share decreased to $1.34 from $2.07 a year ago.
American Express decreased 0.3% to $314.50, and the financial services provider reported better-than-expected quarterly results.
Total revenue adjusted for credit losses in the second quarter increased to $16.45 billion from $15.05 billion, net income edged down to $2.85 billion from $2.97 billion, and diluted earnings per share fell to $5.40 from $4.15 a year ago.
"We saw record Card Member spending in the quarter, demand for our premium products was strong, and our credit performance remained best in class.
Based on our strong performance year to date, we are reaffirming our full-year guidance for revenue growth of 8 to 10 percent and EPS of $15.00 to $15.50," Chairman and Chief Executive Stephen J. Squeri.
S&P 500 and Nasdaq Set New Record Highs as Investors Cheer Strong Earnings
Barry Adams
18 Jul, 2025
New York City
Wall Street indexes scaled new highs on Friday and extended weekly gains, following a string of positive earnings.
The S&P 500 index inched higher 0.2%, and the tech-focused Nasdaq Composite advanced 0.3%, as investors remained sharply focused on the fresh batch of earnings.
American Express, Netflix, Interactive Brokers, and 3M reported stronger-than-expected quarterly reports, supporting the eight-week rally.
For the week, the S&P 500 index increased 1%, and the Nasdaq Composite inched higher 1.8%, after big banks reported strong quarterly results and economic data confirmed a resilient labor market and consumer spending.
U.S. Stock Movers
Netflix Inc. decreased 2.5% to $1,242.50 despite the streaming media company's quarterly results surpassing market expectations.
Consolidated revenue in the quarter increased 16% to $11.1 billion from $9.6 billion, net income jumped to $3.1 billion from $2.1 billion, and diluted earnings per share rose 47% to $7.19 from $4.88 a year ago.
Netflix estimated annual revenue to range between $44.8 and $45.2 billion, compared to the previous range between $43.5 and $44.5 billion.
Norfolk Southern Corp. jumped 4.4% to $281.73 on speculation that the company is likely to be a takeover target of Union Pacific.
The Wall Street Journal reported the possible deal, citing people familiar with the acquisition talks.
Union Pacific Corp. jumped 0.4% to $228.31.
Interactive Brokers Group advanced 5.5% to $62.70, and the online brokerage services provider's revenue and profit surpassed analysts' expectations.
Total net revenue in the second quarter increased to $1.5 billion from $1.2 billion, net income advanced to $224 million from $179 million, and diluted earnings per share increased to 51 cents from 41 cents a year ago.
3M Company advanced 3.1% to $164.0, and the diversified conglomerate raised its annual outlook and reported better-than-expected quarterly results.
The company raised its full-year earnings outlook to a range between $7.75 and $8.0, adjusted total sales growth of about 2.5%, and operating cash flow between $5.1 billion and $5.5 billion.
Net sales increased 1.4% to $6.34 billion from $6.25 billion, net income fell to $723 million from $1.2 billion, and diluted earnings per share decreased to $1.34 from $2.07 a year ago.
American Express decreased 0.3% to $314.50, and the financial services provider reported better-than-expected quarterly results.
Total revenue adjusted for credit losses in the second quarter increased to $16.45 billion from $15.05 billion, net income edged down to $2.85 billion from $2.97 billion, and diluted earnings per share fell to $5.40 from $4.15 a year ago.
"We saw record Card Member spending in the quarter, demand for our premium products was strong, and our credit performance remained best in class.
Based on our strong performance year to date, we are reaffirming our full-year guidance for revenue growth of 8 to 10 percent and EPS of $15.00 to $15.50," Chairman and Chief Executive Stephen J. Squeri.
European Stocks Advanced as Corporate Earnings Regained Spotlight
Bridgette Randall
18 Jul, 2025
London
Stock market indexes in Europe rebounded on Friday as investors reviewed the latest batch of positive corporate results.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced and extended weekly gains to between 0.7% and 1.8%.
Market sentiment recovered this week as investors shifted their attention from the ongoing trade talks to the start of the earnings season.
Despite the market rebound, negotiators are far from an agreement with the U.S., and the region could face as much as an additional 25% tariff beginning August 1.
On the economic front, Germany's producer price index fell 1.3% in June, following a 1.2% drop in May, the Federal Statistical Office, or Destatis, reported Friday.
The producer prices declined for the fourth consecutive month and fell at the fastest pace since September 2024.
The overall decline was driven by a 6.4% fall in energy costs and 0.4% weakness in the intermediate goods, offset by an increase of 3.6% in non-durable consumer goods, a rise of 1.7% in durable consumer goods, and capital goods.
Europe Indexes
The DAX index in Frankfurt advanced 0.4% to 24,466.06, the CAC-40 index in Paris edged higher 0.6% to 7,870.05, and the FTSE 100 index increased 0.2% to 8,990.92.
Europe Movers
Reckitt Benckiser Group plc increased 0.7% to 5,020.0 pence, and the company agreed to sell its essential home business unit to Advent International for $4.8 billion.
Reckitt plans to retain a 30% stake in the company, and the company plans to return excess capital to shareholders, including a $2 billion special dividend.
Electrolux AB Class B decreased 14.3% to SEK 61.52, despite the household appliance maker reporting improving second-quarter results amid market challenges.
Net sales in the quarter decreased to SEK 31.3 billion from SEK 33.8 billion, driven by growth in North America and Latin America, partly offset by a slight decline in Europe, Asia-Pacific, the Middle East, and Africa.
Net income swung to a profit of SEK 178 million from a loss of SEK 80 million, and earnings per share improved to SEK 0.66 from a loss of SEK 0.30 a year ago.
The company reiterated its annual outlook and said that it plans to pass on to consumers tariff-related costs in North America.
Saab AB jumped 10.6% to SEK 532.20 after the Swedish defense and aerospace company reported strong results in the second quarter.
Revenue in the quarter jumped 32% to SEK 19.7 billion from SEK 15.2 billion, net income jumped 52% to SEK 1.5 billion from SEK 1.0 billion, and diluted earnings per share advanced 53% to SEK 2.83 from SEK 1.85 a year ago.
New order inflow in the quarter slowed to SEK 28.40 billion from SEK 39.6 billion a year ago.
Burberry Group plc increased 4.9% to 1,309.50 pence after the fashion group's sales in the quarter surpassed market expectations.
Revenue in the fiscal first quarter ending in June declined to £433 million from £458 million, and comparable store sales decline slowed to 1% from 21% a year ago.
Comparable sales in the Americas increased 4%, in Greater China advanced 5%, and in the Middle East, Europe, and Africa inched higher 1%.
The company stressed that it is still in the "early stages of its turnaround," and the macroeconomic environment remains "uncertain."
European Stocks Advanced as Corporate Earnings Regained Spotlight
Bridgette Randall
18 Jul, 2025
London
Stock market indexes in Europe rebounded on Friday as investors reviewed the latest batch of positive corporate results.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced and extended weekly gains to between 0.7% and 1.8%.
Market sentiment recovered this week as investors shifted their attention from the ongoing trade talks to the start of the earnings season.
Despite the market rebound, negotiators are far from an agreement with the U.S., and the region could face as much as an additional 25% tariff beginning August 1.
On the economic front, Germany's producer price index fell 1.3% in June, following a 1.2% drop in May, the Federal Statistical Office, or Destatis, reported Friday.
The producer prices declined for the fourth consecutive month and fell at the fastest pace since September 2024.
The overall decline was driven by a 6.4% fall in energy costs and 0.4% weakness in the intermediate goods, offset by an increase of 3.6% in non-durable consumer goods, a rise of 1.7% in durable consumer goods, and capital goods.
Europe Indexes
The DAX index in Frankfurt advanced 0.4% to 24,466.06, the CAC-40 index in Paris edged higher 0.6% to 7,870.05, and the FTSE 100 index increased 0.2% to 8,990.92.
Europe Movers
Reckitt Benckiser Group plc increased 0.7% to 5,020.0 pence, and the company agreed to sell its essential home business unit to Advent International for $4.8 billion.
Reckitt plans to retain a 30% stake in the company, and the company plans to return excess capital to shareholders, including a $2 billion special dividend.
Electrolux AB Class B decreased 14.3% to SEK 61.52, despite the household appliance maker reporting improving second-quarter results amid market challenges.
Net sales in the quarter decreased to SEK 31.3 billion from SEK 33.8 billion, driven by growth in North America and Latin America, partly offset by a slight decline in Europe, Asia-Pacific, the Middle East, and Africa.
Net income swung to a profit of SEK 178 million from a loss of SEK 80 million, and earnings per share improved to SEK 0.66 from a loss of SEK 0.30 a year ago.
The company reiterated its annual outlook and said that it plans to pass on to consumers tariff-related costs in North America.
Saab AB jumped 10.6% to SEK 532.20 after the Swedish defense and aerospace company reported strong results in the second quarter.
Revenue in the quarter jumped 32% to SEK 19.7 billion from SEK 15.2 billion, net income jumped 52% to SEK 1.5 billion from SEK 1.0 billion, and diluted earnings per share advanced 53% to SEK 2.83 from SEK 1.85 a year ago.
New order inflow in the quarter slowed to SEK 28.40 billion from SEK 39.6 billion a year ago.
Burberry Group plc increased 4.9% to 1,309.50 pence after the fashion group's sales in the quarter surpassed market expectations.
Revenue in the fiscal first quarter ending in June declined to £433 million from £458 million, and comparable store sales decline slowed to 1% from 21% a year ago.
Comparable sales in the Americas increased 4%, in Greater China advanced 5%, and in the Middle East, Europe, and Africa inched higher 1%.
The company stressed that it is still in the "early stages of its turnaround," and the macroeconomic environment remains "uncertain."
Stock Movers: American Express, BlackRock, Netflix
Scott Peters
18 Jul, 2025
New York City
Netflix Inc. gained 1.9% to $1,274.17 after the streaming media services provider reported a 48% jump in its earnings in the fiscal second quarter ending in June.
Consolidated revenue in the quarter increased 16% to $11.1 billion from $9.6 billion, net income jumped to $3.1 billion from $2.1 billion, and diluted earnings per share rose 47% to $7.19 from $4.88 a year ago.
Netflix estimated annual revenue to range between $44.8 and $45.2 billion, compared to the previous range between $43.5 and $44.5 billion.
BlackRock Inc. gained 1.7% to $1,100.54 after the global investment management company reported a 13% rise in its earnings in the latest quarter.
Consolidated revenue in the quarter increased to $5.4 billion from $4.8 billion, net income jumped to $1.7 billion from $1.5 billion, and diluted earnings per share rose 2% to $10.19 from $9.99 a year ago.
A 13% increase in annual revenue was driven by the positive impact of markets, organic base fee growth, and fees related to the GIP transaction, as well as higher technology services and subscription revenue, partially offset by lower performance fees.
On July 1st, the company completed the purchase of HPS Investment Partners, which added $165 billion in client assets under management and $118 billion in fee-paying assets.
The asset management company's long-term net inflows decreased 9.8% from a year ago to $46 billion in the quarter because of a $52 billion outflow of a lower-fee index fund by the client.
Chairman and CEO Laurence D. Fink said, “Our expanding client relationships are resonating in higher, more diversified organic base fee growth. We generated 6% organic base fee growth for the second quarter and the first half of 2025 and 7% over the last twelve months."
The company's assets under management increased to $12.5 trillion.
Stock Movers: American Express, BlackRock, Netflix
Scott Peters
18 Jul, 2025
New York City
Netflix Inc. gained 1.9% to $1,274.17 after the streaming media services provider reported a 48% jump in its earnings in the fiscal second quarter ending in June.
Consolidated revenue in the quarter increased 16% to $11.1 billion from $9.6 billion, net income jumped to $3.1 billion from $2.1 billion, and diluted earnings per share rose 47% to $7.19 from $4.88 a year ago.
Netflix estimated annual revenue to range between $44.8 and $45.2 billion, compared to the previous range between $43.5 and $44.5 billion.
BlackRock Inc. gained 1.7% to $1,100.54 after the global investment management company reported a 13% rise in its earnings in the latest quarter.
Consolidated revenue in the quarter increased to $5.4 billion from $4.8 billion, net income jumped to $1.7 billion from $1.5 billion, and diluted earnings per share rose 2% to $10.19 from $9.99 a year ago.
A 13% increase in annual revenue was driven by the positive impact of markets, organic base fee growth, and fees related to the GIP transaction, as well as higher technology services and subscription revenue, partially offset by lower performance fees.
On July 1st, the company completed the purchase of HPS Investment Partners, which added $165 billion in client assets under management and $118 billion in fee-paying assets.
The asset management company's long-term net inflows decreased 9.8% from a year ago to $46 billion in the quarter because of a $52 billion outflow of a lower-fee index fund by the client.
Chairman and CEO Laurence D. Fink said, “Our expanding client relationships are resonating in higher, more diversified organic base fee growth. We generated 6% organic base fee growth for the second quarter and the first half of 2025 and 7% over the last twelve months."
The company's assets under management increased to $12.5 trillion.
Japan Awaits Upper House Election Outcome, Consumer Price Inflation Slows to 7-Month Low
Akira Ito
18 Jul, 2025
Tokyo
Stocks struggled in Tokyo ahead of the Upper House election this weekend, and investors reviewed the latest inflation report.
The Nikkei 225 Stock Average fell 0.1%, and the broader Topix declined 0.1% amid political uncertainty and fiscal spending worries.
The yen rebounded from the previous session but hovered near a three-year low of 148.17 against the U.S. dollar.
On the economic front, overall consumer price inflation in June eased to a seven-month low, and core inflation dropped to a three-month low.
Consumer price inflation slowed to 3.3% from 3.5% in May, marking the lowest level since last November, according to the data released by the Ministry of Internal Affairs & Communications.
The overall inflation cooled, but the food price inflation rebounded to 7.2% from the 6.6% level in the previous two months, and electricity prices rose at a softer pace of 5.5% compared to 11.3% in the previous month.
Core inflation, which excludes food prices but includes energy prices, matched the overall inflation rate of 3.3%, following a 3.7% increase in the previous month.
Japan Indexes and Stocks
The Nikkei 225 Stock Average inched lower 0.11% to 39,857.38, and the broader Topix decreased 0.1% to 2,836.96.
The market gains were capped by rising trade risks, as Japan has yet to finalize its trade agreement with the U.S. ahead of the U.S.-imposed deadline of August 1.
Toyota Motor Corp. decreased 0.4% to ¥2,511.0, Honda Motor Co. Ltd. fell 0.03%, and Nissan Motor Co. Ltd. eased 1% to ¥306.30.
Seven & I Holdings Co. Ltd. fell 3.5% to ¥1,935.50, Takashimaya Co. Ltd. edged up 1.1% to ¥1,140.50, Aeon Co. Ltd. gained 1.8% to ¥4,682.0, Isetan Mitsukoshi Holdings Ltd. jumped 0.5% to ¥2,187.0, and Fast Retailing Co. Ltd. inched higher 0.1% to ¥44,560.0.
Japan Awaits Upper House Election Outcome, Consumer Price Inflation Slows to 7-Month Low
Akira Ito
18 Jul, 2025
Tokyo
Stocks struggled in Tokyo ahead of the Upper House election this weekend, and investors reviewed the latest inflation report.
The Nikkei 225 Stock Average fell 0.1%, and the broader Topix declined 0.1% amid political uncertainty and fiscal spending worries.
The yen rebounded from the previous session but hovered near a three-year low of 148.17 against the U.S. dollar.
On the economic front, overall consumer price inflation in June eased to a seven-month low, and core inflation dropped to a three-month low.
Consumer price inflation slowed to 3.3% from 3.5% in May, marking the lowest level since last November, according to the data released by the Ministry of Internal Affairs & Communications.
The overall inflation cooled, but the food price inflation rebounded to 7.2% from the 6.6% level in the previous two months, and electricity prices rose at a softer pace of 5.5% compared to 11.3% in the previous month.
Core inflation, which excludes food prices but includes energy prices, matched the overall inflation rate of 3.3%, following a 3.7% increase in the previous month.
Japan Indexes and Stocks
The Nikkei 225 Stock Average inched lower 0.11% to 39,857.38, and the broader Topix decreased 0.1% to 2,836.96.
The market gains were capped by rising trade risks, as Japan has yet to finalize its trade agreement with the U.S. ahead of the U.S.-imposed deadline of August 1.
Toyota Motor Corp. decreased 0.4% to ¥2,511.0, Honda Motor Co. Ltd. fell 0.03%, and Nissan Motor Co. Ltd. eased 1% to ¥306.30.
Seven & I Holdings Co. Ltd. fell 3.5% to ¥1,935.50, Takashimaya Co. Ltd. edged up 1.1% to ¥1,140.50, Aeon Co. Ltd. gained 1.8% to ¥4,682.0, Isetan Mitsukoshi Holdings Ltd. jumped 0.5% to ¥2,187.0, and Fast Retailing Co. Ltd. inched higher 0.1% to ¥44,560.0.