-- Huaqin's (HKG:3296; SHA:603296) shares opened 12.7% above their initial public offering price during the company's Hong Kong debut on Thursday morning.
The China-based smart hardware products manufacturer opened at HK$87.55 per share, up from the offer price of HK$77.70.
Huaqin's Shanghai-listed shares edged down marginally.
Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index down 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.7%.The Philadelphia Housing Index rose 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.1%.Bitcoin (BTC-USD) was decreasing 0.4% to $77,852, and the yield for 10-year US Treasuries rose 2.9 basis points to 4.32%.In economic news, US initial jobless claims rose to 214,000 in the week ended April 18 from an upwardly revised 208,000, compared with the 210,000 print expected in a Bloomberg-compiled survey.The April flash reading of manufacturing conditions from S&P Global improved to a 47-month high of 54.0 from 52.3 in March, compared with the 52.5 anticipated in a Bloomberg-compiled poll.In sector news, the White House is reviewing US Securities and Exchange Commission's regulations to simplify the process for companies to file for initial public offerings by easing disclosure requirements, Bloomberg reported, citing the Office of Management and Budget.In corporate news, American Express (AXP) shares were down 4.9% even after the payments giant reported better-than-expected Q1 results and reiterated its full-year outlook.Robinhood (HOOD) shares dropped 5.9% after JPMorgan cut the company's price target to $92 from $113, while keeping its neutral rating.Barclays (BCS) has alleged that capital was fraudulently routed across the corporate network of Market Financial Solutions on a significant scale, Bloomberg reported, citing High Court documents. Barclays shares fell 2.7%.Voya Financial (VOYA) has been encouraged by activist investor Toms Capital Investment Management to put itself up for sale or offload its underperforming health insurer business, the Financial Times reported. Voya shares climbed 4.2%.
US equity indexes traded lower ahead of Thursday's close, as technology and consumer discretionary stocks weighed amid a continuing standoff over the reopening of the Strait of Hormuz.The Nasdaq Composite fell 1% to 24,423.1, with the Dow Jones Industrial Average down 0.4% to 49,299.9, and the S&P 500 lower by 0.4% to 7,107.2.Shares of International Business Machines (IBM) slid 8.1%, among the steepest decliners on the Dow, following Q1 results. Software growth decelerated to 8% in constant currency from 11% in Q4 and 9% in Q3, a "potential red flag for the bears," CFRA said in a note.Tesla (TSLA) dropped 3.5% after the electric vehicle manufacturer issued higher-than-expected 2026 capital expenditure guidance. TechCrunch reported the electric vehicle manufacturer is planning to spend $25 billion this year, compared with $8.5 billion in 2025.Texas Instruments (TXN) soared 18%, among the biggest outperformers on the S&P 500 and the Nasdaq, after the company posted higher Q1 earnings and revenue and set out Q2 guidance above consensus.President Donald Trump has ordered the US Navy to "shoot and kill" any boat that is laying mines in Hormuz, according to his Truth Social post on Thursday. On the same day, Iran flaunted its tightened grip over Hormuz with a video of commandos storming a cargo ship named MSC Francesca, Reuters reported.The United States and Iran remain at an impasse, with Tehran refusing to negotiate a peace deal as long as the US Navy continues to blockade its ports and Washington refuses to lift the siege.West Texas Intermediate crude oil futures jumped 3.6% to $96.51, and Brent crude futures advanced 3.7% to $105.58.
Top cryptocurrencies were lower Thursday, with Bitcoin (BTC-USD) falling below the $78,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell almost 2% in the past 24 hours. The Nasdaq 100 fell 0.7%, the S&P 500 declined 0.5%, and the Dow Jones Industrial Average was down 0.4% .Bitcoin fell 1.5% to $77,732, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume fell 13.5% to $41.9 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, dipped 3.5% to $2,312.XRP (XRP-USD) lost 0.8%, BNB (BNB-USD) fell 0.9%, and Solana (SOL-USD) shed 2.3%. Dogecoin (DOGE-USD) eased 0.2%, and Cardano (ADA-USD) declined 2.3%.The US 10-year Treasury yield stood at 4.319% at 3 p.m. ET Thursday, up from 4.292% Wednesday, while the five-year yield rose to 3.984% from 3.911%.The total market value of the cryptocurrency industry fell 1.5% in the past 24 hours to $2.59 trillion, with trading volume declining 1.7% to $157.76 billion.Price: $77778.99, Change: $-413.99, Percent Change: -0.53%