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In focus as Hong Kong sees IPO activity, with Kaifeng Millennium City Park filing and RedNote operator Xiaohongshu reportedly preparing a listing.

US Markets

Asian Industry Sustains Expansion in April: PMI Report

Despite headwinds from Persian Gulf turmoils, Asia's business sectors largely expanded in April, led by the automobile industry, reported S&P Global on Wednesday."Output growth was recorded across 16 of the 18 monitored Asian sectors in April. This figure was up from 15 in March, as metals & mining production returned to growth," said S&P Global, citing its surveys of regional economies.Showing strength in April was the automotive industry. "Leading the rankings for the first time in nearly two years was the automobiles & auto parts sector. The pace of output expansion in the sector quickened to the steepest since May 2024 and was rapid overall," explained S&P Global.Among the broader categories, consumer products did generally well in April."Consumer goods outperformed the other six tracked areas, with growth also supported by strong and accelerated expansions in output across the beverages & food and household & personal use products segments," added S&P Global.The tech and industrial sectors followed consumer goods on the upside, while the slowest expanding sectors were basic materials, financials and healthcare.In contrast to the general regional expansion, the forestry & paper products and construction materials sectors experienced softening in April, reported S&P Global.However, Asian business managers also reported rising and accelerating costs of operation in April."On the prices front, the latest data indicated that cost burdens rose in 17 of the 18 monitored sectors in April. Notably, the majority of these saw expenses increase at a stronger pace than in March," said S&P Global.Of the 18 monitored industries, only banks and real estate lowered output charges, said the credit-rating agency.The Asia Sector PMI indices were compiled by S&P Global from surveys received from 6,000 Asian private-sector companies.

ASX 200^BSE^HNX^HOSEHang Seng^JKSEKOSPINikkei 225^NSE^SETShanghai CompositeTaiwan Weighted
Asia

Hong Kong's Property Market Recovery to Test Developers' Financial Restraint, S&P Says

A recovery in Hong Kong's property market, exhibited in upcoming land auctions, will test developers' financial discipline, S&P Global Ratings said in a Wednesday release.Rated Hong Kong developers weathered the past property slowdown through reduced investments and stronger balance sheets, according to a Wednesday release.Hong Kong could observe heightened bidding and land purchases at inflated prices under the property market's marked upcycles, although the recovery could be moderate this time, S&P credit analyst Oscar Chung said.Residential prices have risen by about 10% after bottoming out in mid-2025, while volumes have rebounded to 20,540 primary home sales in 2025, S&P said.S&P expects increased volumes in 2026 before moderating to 18,000 in 2027 amid sated demand.The rating agency forecasts price increases between 3% and 5% for the rest of the year, with total appreciation coming to between 8% and 10% in 2026.Price growth will likely be between 0% and 3% for 2027, the rating agency said.Upside to the price appreciation forecast could be possible under rising investor flows, S&P said.

Hang Seng
Asia

Market Chatter: Sany Heavy Industry Explores Hong Kong IPO for Electric Truck Arm

Sany Heavy Industry (SHA:600031) is considering an initial public offering in Hong Kong for its subsidiary, Hunan Xingbida Network Technology, China Daily Asia reported Wednesday.Sources said the electric truck manufacturer aims to secure approximately $500 million through the listing, according to the report.Sany Heavy Industry's rival, Xuzhou XCMG Automobile, is also rumored to be seeking a similar $500 million debut, China Daily Asia wrote.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang SengSHA:600031
US Markets

Hong Kong Private Sector Contracts Further in April as Costs Surge

Hong Kong's private sector business conditions deteriorated for a second straight month in April as output and new orders declined amid sharply higher costs linked to the war in the Middle East, according to data released Wednesday by S&P Global.The S&P Global Hong Kong SAR Purchasing Managers' Index fell to 48.6 in April from 49.3 in March, marking the sharpest deterioration in business conditions in 10 months.Output contracted at the fastest pace since June 2025, while new orders declined for the second consecutive month as firms cited subdued economic conditions and weaker customer demand.Demand from mainland China also weakened for the first time in seven months, although new export orders returned to growth.Input costs rose at the fastest pace since October 2011, driven by surging raw material, oil, and fuel prices following the outbreak of war in the Middle East. Selling prices also increased at the quickest pace since August 2023 as firms sought to protect margins.Businesses remained pessimistic about the year-ahead outlook, with concerns centered on geopolitical uncertainty and intensifying market competition."The S&P Global Hong Kong SAR PMI data for April pointed to another deterioration in business conditions, signalling a muted start to the second quarter of the year," Usamah Bhatti, economist at S&P Global, said."Firms commonly linked the latest deterioration in conditions to the war in the Middle East and its associated impact on prices, in particular for oil and fuels," he added.Backlogs of work fell for a second straight month, while employment declined for the first time in three months as firms reduced headcount through downsizing and non-replacement of voluntary leavers.Despite weaker demand conditions, purchasing activity and input inventories continued to rise as firms sought to build stocks ahead of further increases in raw material prices.

Hang Seng
International

Hong Kong's Private Sector Extends Decline Amid Rising Cost Pressures, S&P Global Says

Hong Kong's private sector business conditions deteriorated for a second straight month in April as output and new orders declined amid sharply higher costs linked to the war in the Middle East, according to a report released Wednesday by S&P Global.The S&P Global Hong Kong SAR Purchasing Managers' Index fell to 48.6 in April from 49.3 in March, marking the sharpest deterioration in business conditions in 10 months.Output contracted at the fastest pace since June 2025, while new orders fell for a second consecutive month.Demand from mainland China weakened for the first time in seven months, though new export orders returned to growth.Input costs rose at the fastest pace since October 2011, driven by higher raw material prices following the outbreak of war in the Middle East. Firms raised selling prices at the quickest pace since August 2023.Employment declined for the first time in three months, while backlogs of work continued to fall amid weaker demand and spare capacity.Businesses remained pessimistic about the outlook, citing heightened geopolitical uncertainty stemming from the war in the Middle East, alongside intensified market competition.

Hang Seng
International

Wall Street Signals, Oil Outlook Damp Asian Stock Markets

Asian stock markets tracked moderately lower Tuesday on overnight Wall Street cues and ongoing uncertainty regarding the still-closed Strait of Hormuz.Hong Kong lost ground, Shanghai inched higher, and Tokyo remained closed on holiday. Other regional exchanges were mixed and muted, with Seoul also shuttered.In Hong Kong, the Hang Seng Index opened lower and could not recover, finishing down 0.8% as traders weighed Middle East developments, and eschewed tech issues.The broad gauge Hang Seng fell 197.27 to 25,898.61, as losing issues outnumbered gainers 57 to 30. The Hang Seng TECH Index lost 0.9% on the day, while the Mainland Properties Index rose 0.6%.Leading the upside was conglomerate CK Hutchinson, gaining 4.1%, while bank HSBC declined 5.2%.On the mainland, the Shanghai Composite rose 0.1% to 4,112.16.On the other regional exchanges, the Taiwan TWSE inclined 0.2%; the Australian ASX 200 declined 0.2%; the Singapore Straits Times Index fell 0.1%, and the Thai Set declined 0.2%. In late trading in Mumbai, the Sensex was down 0.3%.The MSCI All Country Asia Pacific Index fell 0.3% on the day.In economic news, citing inflation, the Reserve Bank of Australia raised its key policy interest rate by 0.25% to 4.35%, marking its third rate hike of 2026.

Hang SengNikkei 225Shanghai Composite
International

Hong Kong Logs 22% Surge in Fiscal 2025-26 Tax Revenue

The total tax revenue collected in Hong Kong for fiscal 2025-26 jumped 22% year over year to HK$458.34 billion, official data showed Monday.In the 12 months ended March 31, the Inland Revenue Department registered a 61% year-over-year surge in stamp duty to HK$102.57 billion, a 1% decline in betting duty to HK$28.29 billion and a 20% drop in estate duty to HK$8 million, among others.

Hang Seng
International

Hong Kong's Q1 GDP Grows 5.9%, Fastest in Five Years

Hong Kong's gross domestic product grew 5.9% year over year in the first quarter, faster than the revised 4% expansion in the fourth quarter of 2025, according to advance estimates released Tuesday by the Census and Statistics Department.On a seasonally adjusted quarter-on-quarter basis, real GDP rose 2.9% in the first three months of 2026.Private consumption expenditure climbed 5% year over year in the first quarter, while government consumption increased 2.9%.A government spokesperson said the Hong Kong economy expanded "robustly" during the quarter, marking the strongest quarterly growth in nearly five years.Looking ahead, the spokesperson said Hong Kong's economic growth outlook remains positive. "However, persistent tensions in the Middle East pose downside risks to the economic outlook," the spokesperson cautioned.

Hang Seng
Asia

Hong Kong Stocks Slump As Middle East Fighting Escalates

Hong Kong equities fell Tuesday as bearish sentiment prevailed amid escalating tensions in the Middle East.The Hang Seng Index fell by around 197.27 points, or roughly 0.8%, to end at 25,898.61, while the Hang Seng China Enterprises Index decreased by 43.90 points, or around 0.5%, to close at 8,730.49.Fighting in the Middle East resumed as the U.S. and Iran vied for control of the critical Strait of Hormuz, after U.S. President Donald Trump said Washington would help ships stranded in the waterway, a key route that carried about one-fifth of global oil and LNG trade before the war.Iran had previously warned it would view any such action as a violation of a previously agreed ceasefire.The Middle East conflict will hit many Asia-Pacific corporate sectors through oil price hikes, shipping and supply chain disruptions, dampened demand, and delayed cyclical rebounds, Fitch Ratings said in a recent release.In corporate news, two firms filed to go public in Hong Kong.Metis TechBio (HKG:7666) is seeking to raise about HK$2.11 billion via the sale of 201.2 million shares at HK$10.50 per share. The Chinese AI-driven nanotechnology company will use funds to further research and development of AI infrastructure.Meanwhile, Impact Therapeutics (HKG:7630) launched its IPO to raise HK$913 million via the sale of 42 million shares at an indicative maximum price of HK$21.75 per share. The China-based biotechnology firm will use proceeds mainly to fund clinical development.Elsewhere, Star Sports Medicine (HKG:1609) had a stellar debut in Hong Kong. The medical device company's shares closed at HK$215 per share on their first day of trading, 118% above the offer price of HK$98.50.

Hang SengHKG:1609HKG:7630HKG:7666
International

AI-Tech Rallies Lift Asian Stock Markets in Holiday Thinned Trading

Led by large tech-rallies in Seoul and Taiwan, Asian stock markets gained ground on Monday in holiday-thinned trading.Hong Kong also finished in the green, while Bangkok, Shanghai and Tokyo remained shuttered.After recent AI-triggered rallies on Wall Street, Seoul's KOSPI Index rose 5.1% to strike a fresh all-time zenith, led by semiconductor giants Samsung Electronics, up 5.4%, and SJ Hynix, up 12.5%.Taiwan's TWSE Index rose 4.6% on the day, also hitting new record high, led by 6.6% rise in Taiwan Semiconductor Manufacturing shares.In Hong Kong, the Hang Seng Index opened higher and held ground, finishing up 1.2% as traders embraced tech and property shares.The broad gauge Hang Seng rose 319.25 to 26,095.88, as gaining issues outnumbered losers 71 to 19. The Hang Seng TECH Index gained 2.2% on the day, while the Mainland Properties Index rose 2.1%.Leading the upside was smart-phone and EV-maker Xiaomi, gaining 6.8%, while Macau gaming-house Galaxy Entertainment declined 2.8%.On the other regional exchanges, the Australian ASX 200 declined 0.4%; the Singapore Straits Times Index rose 0.2%, and Mumbai's Sensex was up 0.5%.In economic news, the seasonally adjusted South Korea manufacturing purchasing managers index (PMI) logged at 53.6 in April, up from 52.6 in March, and striking further above the 50-mark that separates growth from contraction, said S&P Global.

Hang SengNikkei 225Shanghai Composite
Asia

Middle East War Weighs on Asia-Pacific Corporates' Credit Profiles, Fitch Says

The Middle East will hit many Asia-Pacific corporate sectors through oil price hikes, shipping and supply chain disruptions, dampened demand, and delayed cyclical rebounds, Fitch Ratings said in a recent release.The war could have a lingering economic and business impact in the second half of 2026 even if it ends earlier, since it would take time for markets to normalize, the rating agency said.Corporates in the region also face other developments that are credit-impacting, such as geopolitical tensions, sanctions, and tariff uncertainties, according to Fitch.Meanwhile, growth varies within the region, with China exhibiting declining domestic demand, lingering price competition, and excess capacity that weigh on companies in the consumer, industrial, building materials, and automotive sectors, Fitch said.India and some Southeast Asian countries have solid domestic growth and infrastructure spending as well as robust household consumption, anchoring credit trends in local demand-tied sectors, according to the rating agency.Fitch still sees EBITDA margins to remain strong and rise above 15% on aggregate for its issuers in the region, supporting improved free cash flow generation.

ASX 200Hang SengNikkei 225Shanghai Composite^SZSE
Asia

Hong Kong Stocks Start Week Higher Amid Middle East Optimism; Cofoe Medical Prices IPO

Hong Kong equities gained on Monday amid renewed optimism over developments in the Middle East.The Hang Seng Index rose by around 319.35 points, or roughly 1.2%, to end at 26,095.88. The Hang Seng China Enterprises Index increased by 92.56 points, or 1.1%, to close at 8,774.39.Markets appeared to welcome signs of progress, however slow, in efforts by Iran and the U.S. to resolve the ongoing Middle East conflict, Reuters reported.Iran is reviewing Washington's response to its 14-point proposal to end the conflict in the Middle East, while President Donald Trump said the U.S. would help countries with ships stranded in the Strait of Hormuz without disclosing details, Reuters reported.In corporate news, Cofoe Medical Technology (HKG:1187, SHE:301087) priced its Hong Kong initial public offering of 27 million shares at HK$39.33 per share, the maximum price.

Hang SengHKG:1187SHE:301087
International

Asia Week Ahead: PMI Reports; Central Bank Decisions; and Inflation Prints

For the week ahead in Asia, the economic calendar is packed with S&P Global's monthly purchasing managers' index reports, inflation prints, and central bank decisions across the region.Monday brings a slate of S&P Global manufacturing PMI reports for April, alongside Indonesia's inflation and trade figures.On Tuesday, markets will turn to the Reserve Bank of Australia's interest rate decision, while Thailand and the Philippines release April inflation data.Wednesday features South Korea's April inflation print and New Zealand's first-quarter labor-market report, along with PMI readings from India, China, Hong Kong and Singapore.On Thursday, Malaysia's central bank decision will be in focus, alongside Taiwan's April inflation data and the Philippines' first-quarter GDP report.On Friday, Taiwan's April trade data and Malaysia's March industrial production figures will be due, before China closes out the week with April trade figures on Saturday.Here's what to watch in the week ahead.MONDAY, May 4The week kicked off with a slate of S&P Global purchasing managers' index reports covering manufacturing activity during April.Most economies in the region saw a rise in output despite the ongoing conflict in the Middle East which has pushed oil prices upwards.Malaysia's manufacturing sector expanded at its fastest pace in four years in April, supported by stronger output and a return to growth in new orders.The S&P Global Malaysia Manufacturing Purchasing Managers' Index rose to 51.6 in April from 50.7 in March, marking a second straight month of expansion.Output grew at the fastest pace since December 2021, while new orders increased as firms and clients built safety stocks amid uncertainty linked to the Middle East war.Output activity also expanded in South Korea, India, and Taiwan, according to S&P Global.Meanwhile, Vietnam's manufacturing sector also expanded, albeit at a slower pace.The S&P Global Vietnam Manufacturing PMI slipped to 50.5 in April from 51.2 in March, a seven-month low, signalling a tenth straight month of expansion but only marginal growth.In contrast, Indonesia's manufacturing sector slipped into contraction in April as cost pressures intensified due to material shortages and delays linked to the Middle East conflict.The S&P Global Indonesia Manufacturing Purchasing Managers' Index fell to 49.1 in April from 50.1 in March, dropping below the 50 mark for the first time in nine months.Manufacturing activity similarly slipped in the Philippines as new orders fell sharply and cost pressures intensified.Indonesia released inflation figures, noting a 2.4% year on year rise in prices during April -- slower than the 3.5% recorded a month prior.The island state also booked a trade surplus of $5.55 billion in the first quarter, supported by a strong non-oil and gas balance despite higher import growth, according to official data released by Statistics Indonesia.The Melbourne Institute released its monthly inflation gauge, noting another increase in April, mainly driven by higher recreation-related prices. The monthly cost of living also increased in April, especially for employees and self-funded retirees.TUESDAY, May 5An interest rate decision in Australia will capture headlines on Tuesday.The Reserve Bank of Australia is likely to rate hikes by 25 basis points to 4.35% as persistent inflation pressures and rising fuel costs linked to Middle East supply disruptions keeps the central bank on a hawkish path even as global peers hold steady.Thailand and the Philippines will release inflation data for April.Economists at ING said they expect the Philippines' headline inflation to rise above 5% as the government passes on the impact of higher global oil prices onto consumers. The Philippines' inflation climbed to 4.1% in March.Thailand is similarly expected to see a rise in consumer prices during April. According to a consensus compiled by Trading Economics, headline inflation could clock in at 1.7% on an annual basis, compared with a 0.08% decline in March.First-quarter gross domestic growth data will be due in Indonesia. DBS said it was forecasting 5.6% growth for the quarter thanks to government spending and festive spending during the period, the Wall Street Journal reported.Hong Kong will similarly release its first-quarter advance GDP growth estimate on Tuesday.Meanwhile, March retail sales figures will be expected in Singapore.On the activity front, S&P Global will release PMI reports manufacturing activity in Thailand and services and composite activity in Australia.WEDNESDAY, May 6Another inflation print, this time in South Korea.Economists at ING said they expect consumer prices to rise at a faster pace in April despite attempts by Seoul to rein in the impact of rising oil costs on consumers. A consensus compiled by Trading Economics indicated headline inflation could clock in at 2.6%.In March, South Korea's annual inflation rose to 2.2%, breaching the central bank's 2% target.First-quarter labor data from New Zealand will also be in the news.CommBank expects headline labor-market figures to remain weak, forecasting just 0.1% quarterly employment growth and a rise in unemployment to 5.5%, compared with Trading Economics consensus estimates of 0.3% employment growth and a 5.4% jobless rate for the first quarter."We do not envisage a labor market recovery until 2027, reflective of adverse impacts from geopolitical ructions," CommBank said in a preview.The Philippines will similarly release labor data for March, as well as industrial production figures.ING said it expects unemployment to edge higher. "On the industry side, weak soft construction activity should continue to weigh on growth," ING said.Additional S&P Global PMI reports covering services and composite activity in India and China, as well as overall activity in Hong Kong and Singapore, will be due.A business confidence report will be due in Thailand, while Hong Kong's March retail sales figures will also be on display.THURSDAY, May 7Malaysia's central bank will meet for its interest rate decision, with no change expected in the 2.75% policy rate.RHB Bank said it expects Bank Negara Malaysia to hold rates as growth remains steady and inflation remains in check, the Wall Street Journal reported.Taiwan's April inflation print will be due, with analysts looking for signs on how the Iran war was weighing in on prices. ING said it expects to see inflationary pressure picking up after limited pass through of energy prices in March.Australia will release March trade figures. The country's trade surplus could fall to A$4.45 billion from the A$5.69 billion recorded in the month prior, according to a consensus compiled by Trading Economics.CommBank said it expects the goods trade balance to decline due to rising fuel imports in the wake of the Iran conflict.The Philippines' first-quarter GDP growth figures will be expected. ING said the Philippines' economy could recover to a growth of 4.3% year on year thanks to favorable base effects and some pick-up in government spending.The Philippines' economy grew by 3% last quarter.Another confidence report covering consumer sentiment will be due in Thailand.FRIDAY, May 8Markets will be on the lookout for Taiwan's trade data for April.ING said it expects the island state's trade surplus to rise to $21.6 billion from $21.3 billion in the month prior. "We're looking for another strong month, with 59.3% YoY export growth and 35.5% import growth," ING said in a preview.In Malaysia, March industrial production figures will be due.S&P Global will release PMI reports covering services and composite activity in Japan.SATURDAY, May 9China will release its April trade data on Saturday.The world's second largest economy could record a surplus of $82.4 billion for the month, rising from $51.13 billion in March, according to a consensus compiled by Trading Economics.Analysts at DBS expect a sharp uptick in surplus, with export growth more than doubling to 8.4% from the 2.5% rise seen in March, the WSJ reported.

ASX 200^BSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSE^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
US Markets

ADB Pledges $70 Billion For Energy, Digital Networks Across APAC as Middle East Conflict Batters Outlook

The Asian Development Bank is committing $70 billion to support new energy and digital infrastructure initiatives across the Asia-Pacific region by 2035.ADB President Masato Kanda announced the pledge on Sunday during the lender's annual meeting in Uzbekistan."Energy and digital access will define the region's future," said Kanda. "These two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people."The pledge comes as the ADB sharply downgraded its forecast for the APAC region, citing energy disruptions from the ongoing Middle East conflict.On Wednesday, the ADB slashed its GDP growth outlook for developing Asia and the Pacific to 4.7% in 2026 from the previous 5.1% forecast.Inflation for 2026 is projected to accelerate to 5.2% in 2026 from 3% in 2025, before easing to 4.1% in 2027."Our revised outlook is a significant downward revision for growth and a sharp increase in inflation following a special update to reflect the deepening crisis," Kanda said at the time.The bank's new outlook assumes that oil prices average around $96 a barrel in 2026, well above the $69 per barrel average in January and February before the Middle East conflict. The bank expects oil prices to ease to around $80 per barrel in 2027."We are confronting systemic, long-lasting disruptions to global energy and trade networks, not just temporary volatility. ADB will remain an agile partner in protecting the region's economy; tracking fast-moving risks, and moving with urgency to scale up our support," Kanda added.Diesel prices across several Southeast Asian countries have increased by more than 100% since late February, the ADB said in its updated outlook report.The ADB also noted in its Wednesday report that the energy shock is also affecting fertilizer prices, which it said could add to food inflation, particularly for economies most dependent on Middle East imports.Against that backdrop, the ADB is committing $70 billion to build new energy and digital infrastructure in Asia and the Pacific by 2035.The largest investment, worth $50 billion, will be allocated towards cross-border power infrastructure to unlock renewable energy at scale, the ADB said.The project will focus on transmission and grid integration, including cross-border lines, substations, storage, and grid digitalization, according to the lender.By 2035, the bank aims to integrate about 20 gigawatts of renewable energy across borders, connect 22,000 circuit-kilometers of transmission lines, and cut regional power sector emissions by 15%, while improving energy access for around 200 million people.The remaining $20 billion will fund the Asia-Pacific Digital Highway, targeting digital corridors, data infrastructure, and AI-ready economies.The project aims to bring first-time broadband access to 200 million people and cut connectivity costs in remote and landlocked areas by about 40%.The South Korean government will back a new Center for AI Innovation and Development in Seoul with a $20 million contribution. The center will aim to train about 3 million people in digital and AI-related skills by 2035.Separately on Sunday, the ADB also unveiled a Critical Minerals-to-Manufacturing Financing Partnership Facility designed to help the region move beyond mining into higher-value industries such as processing, manufacturing, and recycling.Japan committed $20 million to the grant window, the UK contributed $1.6 million, and the Korea Eximbank and the Korean Trade Insurance Corporation each signed $500 million memorandums as the facility's first partners.

ASX 200^BSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSE^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
International

Earnings, Wall Street Cues Lift Asian Stock Markets in Thin Holiday Trading

Asian stock markets gained on Friday in holiday-thinned trading, as traders weighed earnings reports against the backdrop of the Strait of Hormuz closure.Tokyo finished in the green, while Hong Kong and Shanghai were closed on holiday.Other exchanges in Bangkok, Mumbai, Seoul, Singapore, and Taiwan were also shuttered for May Day.In Japan, the Nikkei 225 opened evenly and edged higher, finishing up 0.4% as traders weighed overnight record-high closes on Wall Street and a generally good earnings season.The benchmark Nikkei 225 rose 228.20 to 59,513.12, although losing issues outnumbered gainers 121 to 102.Leading the upside was plumbing fixtures maker Toto, up 18.4%, while electronics component company Alps Alpine declined 15%, with both moves following earnings reports.In economic news, Tokyo's consumer price index-core (CPI-core), which strips out fresh food bills, rose 1.5% on year in April, the slowest pace in four years and below the central bank's 2% target for a third straight month.On other regional exchanges, the Australian ASX 200 inclined 0.7%.

Hang SengNikkei 225Shanghai Composite
International

Oil Outlook, Interest Rates Dent Asian Stock Markets

Asian stock markets largely fell Thursday, pressured by higher global crude prices, rising interest rates, and uncertain prospects for a re-opening of the Strait of Hormuz.Hong Kong and Tokyo finished in the red, while Shanghai edged higher. Other regional exchanges were similarly mixed on the downside.In Japan, the Nikkei 225 opened lower after a one-day hiatus and could not recover, finishing off 1.1% after yields on 10-year Japanese government bonds reached to 2.52%, the highest in almost 30 years.The benchmark Nikkei 225 fell 632.54 to 59,284.92, as losing issues outnumbered gainers 156 to 65.Leading the upside was Renesas Electronics, up 10.3%, while IT-giant Fujitsu declined 13.9% after reporting earnings.In economic news, Japan industrial production in March rose 2.3% on year, but declined by a seasonally adjusted 0.5% from February, on soft chemical and oil production, reported the Ministry of Economy, Trade & Industry (METI).The nation's retail sales in March rose 1.7% on year, and gained 1.3% from February, added METI.In Hong Kong, the Hang Seng Index opened evenly but declined in trading, closing down 1.3% as traders monitored still-rising oil prices.The broad gauge Hang Seng fell 335.31 to 25,776.53, as losing issues outnumbered gainers 70 to 8. The Hang Seng TECH Index lost 0.8% on the day, while the Mainland Properties Index fell 0.1%.Leading the upside was Semiconductor Manufacturing International, gaining 7.8%, while EV-maker BYD declined 5.4%.On the mainland, the Shanghai Composite rose 0.1% to 4,112.16.In economic news, China's manufacturing sector purchasing managers index (PMI) rose to 52.2 in April, up from 50.8 in March, and striking further above the 50-mark that divides growth from contraction, reported S&P Global.Separately, China's official PMI logged at 50.3 in April, off modestly from from March's 12-month high of 50.4, reported the National Bureau of Statistics (NBS).On the other regional exchanges, the S. Korean KOSPI fell 1.4%; the Taiwan TWSE declined 1%; the Australian ASX 200 declined o.2%; the Singapore Straits Times Index rose 1.1%, and the Thai Set inclined 0.1%. In late trading in Mumbai, the Sensex was down 0.8%MSCI All Country Asia Pacific Index fell nearly 1% on the day.

Hang SengNikkei 225Shanghai Composite
Asia

Hong Kong Stocks Fall as US-Iran Conflict Escalation Fears Rise; StanChart Gains on Earnings

Hong Kong stocks fell on Thursday as a sharp rise in oil prices, driven by concerns over potential U.S. military action against Iran, weighed on sentiment.The Hang Seng Index fell 335.31 points, or 1.3%, to close at 25,776.53, while the Hang Seng China Enterprises Index lost 123.77 points, or 1.4%, to 8,681.83.U.S. President Donald Trump was set to receive a briefing Thursday from U.S. Central Command chief Brad Cooper on potential military options against Iran, Reuters reported, citing Axios.Oil prices surged, with Brent crude climbing more than 6% to a four-year high of $125 a barrel amid reports that Washington may consider further strikes on Iran.Meanwhile, Federal Reserve Chair Jerome Powell ended his eight-year tenure Wednesday with interest rates unchanged.Powell said he will remain on the Federal Reserve's Board of Governors.Hong Kong financial markets will be closed on Friday for the Labor Day holiday and will reopen on Monday, May 4.In corporate news, Standard Chartered (HKG:2888) closed nearly 2% higher after posting a growth in first-quarter profit.Huaqin Technology (HKG:3296, SHA:603296) jumped nearly 4% after logging a 26% increase in first-quarter profit.

Hang SengHKG:2888HKG:3296SHA:603296
International

ADB Cuts Economic Growth Projections for Developing Asia Amid Middle East Crisis

The Asian Development Bank sharply downgraded its economic growth forecasts for developing Asia and the Pacific while raising inflation projections, citing prolonged disruptions from the Middle East conflict that are driving up energy prices and tightening financial conditions.The bank now expects regional growth of 4.7% in 2026 and 4.8% in 2027, down from its earlier forecast of 5.1% for both years. Meanwhile, inflation is projected to accelerate to 5.2% this year before slowing to 4.1% in 2027, according to the latest ADB report.ADB said the revisions reflect sustained pressure on oil and gas prices, with crude expected to average about $96 per barrel in 2026, significantly higher than pre-conflict levels, weighing on fuel-importing economies.Under a more severe scenario, growth could ease further to 4.2% this year and 4% next year, while inflation may spike to 7.4% in 2026, the bank added, urging targeted fiscal support and measured monetary responses.

^DSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCI^KOSDAQKOSPINifty 50^PSEI^SETShanghai Composite^STI^SZECTaiwan Weighted^YSX
International

Property, Tech Sectors Undergird Asian Stock Markets

Asian stock markets somewhat shrugged off Middle East turmoil, with tech shares rising on earnings outlooks, and China property issues gaining after a Beijing report indicated the struggling sector may be firming.Exchanges in Japan were closed on holiday.Hong Kong and Shanghai finished in the green, while other regional exchanges were uneven.In Hong Kong, the Hang Seng Index opened higher and rose to the close, finishing up 1.7% in a property-sector-led rally.The broad gauge Hang Seng rose 432.06 to 26,111.84, as gaining issues outnumbered losers 77 to 13. The Hang Seng TECH Index gained 1.7% on the day, while the Mainland Properties Index rose 4.5%.Leading the upside was China Overseas Land, gaining 8.9%, while pork purveyor WH Group declined 5.8%.On the mainland, the Shanghai Composite rose 0.7% to 4,107.51.In economic news, China's housing markets are showing signs of recovery, with transaction volumes in major cities rising in March and price declines shrinking, "indicating a gradual return of buyer confidence and improving market liquidity," reported the official State Council Information Office.On the other regional exchanges, the S. Korean KOSPI rose 0.8%; the Taiwan TWSE declined 0.5%; the Australian ASX 200 declined 0.3%; the Singapore Straits Times Index fell 0.6%, and the Thai Set inclined 0.8%. In late trading in Mumbai, the Sensex was up 0.8%.MSCI All Country Asia Pacific Index rose 0.1%.

Hang SengNikkei 225Shanghai Composite
Asia

Hong Kong Stocks Rebound as China Policy Signals Lift Sentiment; Sunmi Tech Shines on Debut

Hong Kong stocks rebounded on Wednesday as policy signals from China's top leadership lifted sentiment alongside improving corporate earnings sentiment.The Hang Seng Index gained 432.06 points, or 1.7%, to close at 26,111.84, while the Hang Seng China Enterprises Index added 160.79 points, or 1.9%, to 8,805.60.China's Politburo called for faster development of a modern industrial system, wider adoption of artificial intelligence, and greater emphasis on technological self-reliance and supply chain resilience.It also highlighted measures to support consumption, stabilize the property sector, protect employment, and address industrial overcapacity.Meanwhile, markets also absorbed the surprise departure of the United Arab Emirates from OPEC, although the broader alliance is expected to remain intact.In corporate news, Shanghai Sunmi Technology (HKG:6810) made its Hong Kong debut, closing 241% higher at HK$84.80, compared with the offer price of HK$24.86.Hong Kong Exchanges and Clearing (HKG:0388) gained nearly 3% after reporting a 27% increase in first-quarter profit.Geely Automobile (HKG:0175) gained nearly 3% despite reporting a 27% decline in first-quarter profit.

Hang SengHKG:0175HKG:0388HKG:6810

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