Market Update
China THURSDAY
Inga Muller
28 Aug, 2025
Hong Kong
Hong Kong stocks fell on Thursday amid cloudy earnings outlook and looming trade uncertainty.
The Hang Seng index decreased 0.7%, but the mainland-focused CSI 300 index gained 0.6% amid sustained buying by domestic state-controlled investment arms.
The food delivery company, Meituan, reported sharply weaker quarterly results after the company was caught up in price war.
The ongoing price war in delivery services, and solar panel, electric vehicles, and storage battery markets have put financial pressures on several Chinese companies.
Moreover, the sharp rise in the U.S. import duties has added to uncertainty and volatility in sales, leading to a widespread disruptions in operations.
China Indexes and Stocks
The Hang Seng Index decreased 0.7% to 25,035.78, and the mainland-focused CSI 300 index advanced 0.6% to 4,416.20.
Meituan dropped 11% to HK $103.10, and the food delivery company reported a plunge in earnings in the second quarter.
Revenue in the quarter increased 12% to 91.8 billion yuan from 82.3 billion yuan, and net income dropped 97% to 356.3 billion yuan (about $51 million) from 11.4 billion yuan a year ago.
Delivery services revenue advanced 2.8%, commissions increased 16%, and online marketing services rose 10.4%, driving the overall revenue higher by 11.7%.
U.S. Stocks Meandered Ahead of Nvidia Earnings and Fed Independence Worries Linger
Barry Adams
27 Aug, 2025
New York City
Wall Street indexes hovered near the flatline, and investors awaited quarterly results from the artificial intelligence leader Nvidia after the close.
Nvidia, the world's largest company by market capitalization, is expected to show a 35% jump in earnings in the fiscal second quarter.
In addition, investors are looking for clues about the impact of new and constantly changing U.S. restrictions on the company's chip sales in China.
The S&P 500 index and the tech-heavy Nasdaq Composite flatlined, and investors reviewed the fresh batch of earnings.
Kohl's, PVH Corp., American Woodmark, Oka, and MongoDB were in focus after they reported quarterly results.
This week, investors are awaiting results from Autodesk, Marvell Technology, HP, Dick's Sporting Goods, Dollar General, Burlington Northern, Best Buy, Ulta Beauty, Abercrombie & Fitch, Williams-Sonoma, Five Below, and Urban Outfitters.
Leading retailers struggle to absorb high import duties, and the apparel and household item retailers are likely to set the stage to raise prices and pass over the sharp escalation in tariffs to consumers.
U.S. Stock Movers
Kohl's Corp. jumped 19% to $15.57, and the apparel and accessories retailer's earnings surpassed expectations.
The retailer's fiscal second-quarter revenue was $3.35 billion, and adjusted earnings per share were 56 cents, ahead of the market expectation of $3.10 billion and 26 cents, respectively.
The company's efforts to cut costs and lower inventories supported the surge in earnings.
The embattled retailer revised its full-year adjusted earnings per share outlook to a range between 10 cents and 60 cents.
Canada Goose Holdings Inc. surged 15% to $14.06, and CNBC reported that the controlling shareholder is looking to take the winter-clothing company private.
MongoDB Inc. jumped 30.5% to $279.74 after the data storage company reported sharply higher than expected quarterly sales and earnings, and the company's sales outlook in the current quarter surpassed expectations.
Consolidated revenue increased to $591.4 million from $478.1 million, net loss shrank to $47 billion from $54.5 billion, and diluted losses per share fell to $58 from $74 a year ago.
In the quarter, adjusted earnings per share jumped 42.5% to $1.0, ahead of the 67 cents estimate published on FactSet.
The subscription-based revenue in the quarter increased 23% from a year ago to $572 million, easily surpassing market expectations.
Okta Inc. advanced 6.1% to $97.11, and the identity management company reported nearly a two-and-a-half-fold jump in earnings in the fiscal second quarter ending on July 31.
Consolidated revenue in the quarter inched higher to $728 billion from $646 billion, net income climbed to $67 million from $29 million, and diluted earnings per share soared to 37 cents from 15 cents a year ago.
PVH Corp. gained 6.7% to $88 after the parent company of Calvin Klein and Tommy Hilfiger reported a 42% rise in its earnings in the latest quarter ending on August 3.
Consolidated revenue edged higher to $2.2 billion from $2.1 billion, net income advanced to $224.2 billion from $158 billion, and diluted earnings per share rose to $4.63 from $2.80 a year ago.
PVH Corp. estimated fiscal third-quarter revenue to be flat to slightly up, with a slight decline on a constant currency basis.
U.S. Stocks Meandered Ahead of Nvidia Earnings and Fed Independence W
Barry Adams
27 Aug, 2025
New York City
Wall Street indexes hovered near the flatline, and investors awaited quarterly results from the artificial intelligence leader Nvidia after the close.
Nvidia, the world's largest company by market capitalization, is expected to show a 35% jump in earnings in the fiscal second quarter.
In addition, investors are looking for clues about the impact of new and constantly changing U.S. restrictions on the company's chip sales in China.
The S&P 500 index and the tech-heavy Nasdaq Composite flatlined, and investors reviewed the fresh batch of earnings.
Kohl's, PVH Corp., American Woodmark, Oka, and MongoDB were in focus after they reported quarterly results.
This week, investors are awaiting results from Autodesk, Marvell Technology, HP, Dick's Sporting Goods, Dollar General, Burlington Northern, Best Buy, Ulta Beauty, Abercrombie & Fitch, Williams-Sonoma, Five Below, and Urban Outfitters.
Leading retailers struggle to absorb high import duties, and the apparel and household item retailers are likely to set the stage to raise prices and pass over the sharp escalation in tariffs to consumers.
U.S. Stock Movers
Kohl's Corp. jumped 19% to $15.57, and the apparel and accessories retailer's earnings surpassed expectations.
The retailer's fiscal second-quarter revenue was $3.35 billion, and adjusted earnings per share were 56 cents, ahead of the market expectation of $3.10 billion and 26 cents, respectively.
The company's efforts to cut costs and lower inventories supported the surge in earnings.
The embattled retailer revised its full-year adjusted earnings per share outlook to a range between 10 cents and 60 cents.
Canada Goose Holdings Inc. surged 15% to $14.06, and CNBC reported that the controlling shareholder is looking to take the winter-clothing company private.
MongoDB Inc. jumped 30.5% to $279.74 after the data storage company reported sharply higher than expected quarterly sales and earnings, and the company's sales outlook in the current quarter surpassed expectations.
Consolidated revenue increased to $591.4 million from $478.1 million, net loss shrank to $47 billion from $54.5 billion, and diluted losses per share fell to $58 from $74 a year ago.
In the quarter, adjusted earnings per share jumped 42.5% to $1.0, ahead of the 67 cents estimate published on FactSet.
The subscription-based revenue in the quarter increased 23% from a year ago to $572 million, easily surpassing market expectations.
Okta Inc. advanced 6.1% to $97.11, and the identity management company reported nearly a two-and-a-half-fold jump in earnings in the fiscal second quarter ending on July 31.
Consolidated revenue in the quarter inched higher to $728 billion from $646 billion, net income climbed to $67 million from $29 million, and diluted earnings per share soared to 37 cents from 15 cents a year ago.
PVH Corp. gained 6.7% to $88 after the parent company of Calvin Klein and Tommy Hilfiger reported a 42% rise in its earnings in the latest quarter ending on August 3.
Consolidated revenue edged higher to $2.2 billion from $2.1 billion, net income advanced to $224.2 billion from $158 billion, and diluted earnings per share rose to $4.63 from $2.80 a year ago.
PVH Corp. estimated fiscal third-quarter revenue to be flat to slightly up, with a slight decline on a constant currency basis.