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Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Decline in Tuesday Trading

Asian equities traded in the US as American depositary receipts opened the shortened trading week lower Tuesday morning, declining 0.31% to 3,020.55 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by education company 17 Education & Technology Group (YQ) and semiconductor company ASE Technology (ASX), which surged 20% and 5.9%, respectively. They were followed by utilities company Korea Electric Power (KEP) and internet and data center services provider VNET Group (VNET), which rose 5.4% and 5.6%, respectively.The decliners from North Asia were led by healthcare platform 111 (YI) and tech company Baidu (BIDU), which shed 22% and 8%, respectively. They were followed by automotive company Honda Motor (HMC) and online game developer The9 (NCTY), which dropped 3.8% and 3.4%, respectively.From South Asia, the only gainers were telecommunications company Telekomunikasi Indonesia (TLK) and tech conglomerate Sea (SE), which were up 1.3% and 0.2%, respectively.The decliners from South Asia were led by computer hardware maker Canaan (CAN) and IT firm Infosys INFY), which fell 7.1% and 4.4%, respectively. They were followed by IT firms Wipro (WIT) and Sify Technologies (SIFY), which were down 3.6% and 1.7%, respectively.

$ASX$BIDU$CAN$HMC$INFY$KEP$NCTY$SE$SIFY$TLK$VNET$WIT$YI$YQ
Wire

Baidu Shares Included in Shanghai-Hong Kong Stock Connect Program

Baidu's (BIDU) class A ordinary shares traded on the Hong Kong Stock Exchange will be included in the Shanghai-Hong Kong Stock Connect program effective Sept. 7, the company said Friday.Eligible investors in mainland China will have direct access to the trading of Baidu's shares through the program, according to a statement.Price: $97.67, Change: $+2.09, Percent Change: +2.18%

$BIDU
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Head Slightly Lower in Thursday Trading

Asian equities traded in the US as American depositary receipts were tracking lower Thursday morning, declining 0.15% to 2,992.57 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by brand platform Baozun (BZUN) and lender CNFinance (CNF), which climbed 8.2% and 6.1% respectively. They were followed by education company 17 Education & Technology Group (YQ) and tech comapny Baidu (BIDU), which advanced 4.2% and 3.5% respectively.The decliners from North Asia were led by semiconductor company Silicon Motion Technology (SIMO) and fintech firm Jiayin Group (JFIN), which fell 4% and 3.9% respectively. They were followed by fintech company Qfin (QFIN), which was down 3.6%.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and IT firm Infosys (INFY), which rose 3% and 0.6% respectively. They were followed by IT company Wipro (WIT) and lender ICICI Bank (IBN), which were up 0.3% and 0.1% respectively.The decliners from South Asia were led by tech conglomerate Sea (SE) and telecommunications operator PLDT (PHI), which dropped 2.1% and 1.4% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and lender HDFC Bank (HDB), which lost 1.1% and 1% respectively.

$BIDU$BZUN$CAN$CNF$HDB$IBN$INFY$JFIN$PHI$QFIN$SE$SIMO$TLK$WIT$YQ
Research

Morgan Stanley Downgrades Baidu to Underweight From Equalweight, Adjusts PT to $80 From $130

Baidu (BIDU) has an average rating of overweight and mean price target of $158.29, according to analysts polled by FactSet.

$BIDU
Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.6% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 6.3%.The Philadelphia Semiconductor index shed 5.5%.In corporate news, Meta Platforms (META) shares were falling 4.2% as a social media addition trial brought by 29 US states got underway.Nvidia (NVDA) talent is being recruited by Etched, with about 15% of the AI startup's 400 employees having previously worked at Nvidia, The Wall Street Journal reported. Nvidia shares were down 2.6%.Alphabet's (GOOGL) Google has informed suppliers it plans to have its Pixel smartphones, watches and Bluetooth earbuds made outside of China starting next year, Nikkei Asia reported. The move comes amid continuing tension between the US and China, the report said. Alphabet shares were fractionally higher.Baidu (BIDU) reported lower-than-expected Q2 results on Tuesday amid weakness in its online marketing business, even though it recorded double-digit growth in its core AI-powered operations. Its shares dropped 12%.

$BIDU$GOOGL$META$NVDA
Wire

Update: Baidu Shares Drop After Q2 Miss

(Updates with share movement in the headline and first paragraph.)Baidu (BIDU) shares fell 13% in Tuesday afternoon trading after the company posted lower-than-expected Q2 non-GAAP earnings and revenue.The company reported Q2 non-GAAP earnings of 7.22 Chinese renminbi ($1.06) per diluted American depositary share, down from 13.58 renminbi a year earlier.Analysts polled by FactSet expected 9.35 renminbi.Revenue for the quarter ended June 30 was 31.33 billion renminbi, down from 32.71 billion renminbi a year earlier.Analysts expected 31.78 billion renminbi.Price: $90.56, Change: $-13.56, Percent Change: -13.02%

$BIDU
Sectors

Sector Update: Tech Stocks Fall in Afternoon Trading

Tech stocks were lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping nearly 6%.The Philadelphia Semiconductor index fell 5.4%.In corporate news, Alphabet's (GOOGL) Google has informed suppliers it plans to have its Pixel smartphones, watches and Bluetooth earbuds made outside of China starting next year, Nikkei Asia reported. The move comes amid continuing tension between the US and China, the report said. Alphabet shares were down 0.2%.Baidu (BIDU) reported lower-than-expected Q2 results on Tuesday amid weakness in its online marketing business, even though it recorded double-digit growth in its core AI-powered operations. Its shares dropped nearly 13%.Amazon-backed (AMZN) Anthropic saw its annual revenue run rate rise above $65 billion by the end of July, Reuters reported. The figure represents a sharp rise from about $47 billion in May and from roughly $9 billion at year-end 2025, Reuters said. Amazon shares were down 0.2%.Alibaba (BABA) has reached a deal to sell Lingxi Games for at least $1.5 billion to Trustar Capital, a private equity fund affiliated with China International Trust and Investment, Nikkei Asia reported, citing Bloomberg. Alibaba shares rose 2.4%.

$AMZN$BABA$BIDU$GOOGL
Sectors

Sector Update: Tech

Tech stocks were lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping nearly 6%.The Philadelphia Semiconductor index fell 5.4%.In corporate news, Baidu (BIDU) reported lower-than-expected Q2 results on Tuesday amid weakness in its online marketing business, even though it recorded double-digit growth in its core AI-powered operations. Its shares dropped nearly 13%.

$BIDU
Wire

Top Midday Stories: Home Depot Q2 EPS, Revenue Top Estimates; Klarna Cuts Guidance, Plans CFO, CMO Transitions

All three major US stock indexes were down in late-morning trading Tuesday, as the yield on the US 30-year Treasury topped 5.33%, a 19-year high, on long-term inflation and debt concerns.In company news, Home Depot (HD) reported fiscal Q2 adjusted earnings Tuesday of $4.92 per diluted share, up from $4.68 a year earlier and above the FactSet consensus analyst estimate of $4.73. Fiscal Q2 net sales were $47.86 billion, up from $45.28 billion a year ago and above the FactSet consensus of $47.24 billion. Separately, the company said it has launched nationwide express delivery to provide product fulfillment in three hours or less for a flat fee. The service does not require a subscription or membership and uses more than 2,000 store locations in the US as fulfillment hubs to deliver construction materials and tools directly to homes or job sites, the company said. Home Depot shares were up 0.8% around midday.Klarna Group (KLAR) reported Q2 EPS of $0.01, swinging from a loss of $0.14 a year earlier and above the FactSet consensus of a loss of $0.06. Second-quarter revenue was $1.04 billion, up from $823 million a year ago and above the FactSet consensus of $996.5 million. For Q3, the company expects revenue of $940 million to $980 million, below the FactSet consensus of $1.11 billion. For full-year 2026, Klarna expects revenue of $4.08 billion to $4.16 billion, down from its prior outlook of greater than $4.34 billion and below the FactSet consensus of $4.42 billion. In addition, Klarna said it has planned transitions for its chief financial officer and chief marketing officer, effective early 2027. CFO Niclas Neglen and CMO David Sandstrom will remain in their roles through the transition, the company said, adding that a search for a New York-based CFO is underway. Klarna shares were down 21.7%.Walt Disney (DIS) and its ABC unit sued the US Federal Communications Commission on Tuesday to block an early review of broadcast licenses for eight ABC stations, according to multiple media reports, which cited a lawsuit filed in a Washington, D.C. federal court. Disney shares were up 1%.Amylyx Pharmaceuticals' (AMLX) investigational post-bariatric hypoglycemia treatment Avexitide met its primary endpoint in a phase 3 clinical trial, the drugmaker said Tuesday. The drug showed a 55% reduction in the composite rate of level 2 and 3 hypoglycemic events compared to a placebo and also met all secondary endpoints in the 78-patient trial, the company said. Amylyx shares were up 48%.KKR (KKR) has offered to buy natural-gas and electricity distributor UGI (UGI) for $42.50 a share, or roughly $9 billion, The Wall Street Journal reported Tuesday, citing people familiar with the matter. KKR shares were down 1.2%, while UGI shares were up 12.5%.Baidu (BIDU) reported Q2 non-GAAP earnings Tuesday of 7.22 Chinese renminbi ($1.06) per diluted American depositary share, down from 13.58 renminbi a year earlier and below the FactSet consensus of $9.35 renminbi. Second-quarter revenue was 31.33 billion renminbi, down from 32.71 billion renminbi a year ago and below the FactSet consensus of 31.78 billion renminbi. Baidu shares were down more than 12%.Price: $15.28, Change: $-4.23, Percent Change: -21.66%

$AMLX$BIDU$DIS$HD$KKR$KLAR$UGI
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Track Lower in Tuesday Trading

Asian equities traded in the US as American depositary receipts were tracking lower Tuesday morning, declining 1.03% to 2,988.00 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by pharmaceutical company Takeda Pharmaceutical (TAK) and fashion platform MOGU (MOGU), which rose 4.3% and 3.3% respectively. They were followed by tech company Alibaba Group (BABA) and game live-streaming platform HUYA (HUYA), which were up 2.8% and 1.5% respectively.The decliners from North Asia were led by internet and data center services provider VNET Group (VNET) and semiconductor company ASE Technology (ASX), which fell 9.3% and 8.6% respectively. They were followed by tech company Baidu (BIDU) and automotive marketplace Token Cat (TC), which lost 8.5% and 5.7% respectively.From South Asia, the only gainers were lender ICICI Bank (IBN) and IT firm Infosys (INFY), which were up 0.4% and 0.1% respectively.The decliners from South Asia were led by tech conglomerate Sea (SE) and computer hardware maker Canaan (CAN), which dropped 3.5% and 3.3% respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and telecommunications operator Telekomunikasi Indonesia (TLK), which were off 0.4% and 0.3% respectively.

$ASX$BABA$BIDU$CAN$HUYA$IBN$INFY$MOGU$RDY$SE$TAK$TC$TLK$VNET
Wire

Update: Baidu Shares Fall After Q2 Non-GAAP Earnings, Revenue Miss Estimates

(Updates with recent stock movement in the headline and first paragraph.)Baidu (BIDU) shares fell 7.9% in early Tuesday trading after the company posted lower-than-expected Q2 non-GAAP earnings and revenue.The company reported Q2 non-GAAP earnings of 7.22 Chinese renminbi ($1.06) per diluted American depositary share, down from 13.58 renminbi a year earlier.Analysts polled by FactSet expected 9.35 renminbi.Revenue for the quarter ended June 30 was 31.33 billion renminbi, down from 32.71 billion renminbi a year earlier.Analysts expected 31.78 billion renminbi.Price: $95.88, Change: $-8.24, Percent Change: -7.91%

$BIDU
Sectors

Sector Update: Tech Stocks Fall Pre-Bell Tuesday

Technology stocks were falling pre-bell Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.6% lower.Baidu (BIDU) shares were down nearly 9% after the company reported lower Q2 non-GAAP earnings and revenue.Vnet Group (VNET) stock was 9% lower after the company posted a wider Q2 net loss.Einride (ENRD) shares were up more than 22% after the company reported a narrower H1 loss as revenue increased during the period.

$BIDU$ENRD$VNET$XLK$XSD
Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Tuesday Amid Rising Oil Prices

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4%, and the actively traded Invesco QQQ Trust (QQQ) was 1.2% lower in Tuesday's premarket activity as fading hopes for a US-Iran peace agreement pushed oil prices higher.US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures advancing 0.03%, and Nasdaq futures slipping 1.2% before the start of regular trading.July housing starts fell by 12.4% from the previous month to a 1.239 million annual rate, compared with expectations compiled by Bloomberg as of 7:45 am ET for a 1.345 million rate after an increase to 1.415 million in June.The New York Federal Reserve's services index fell to 0.5 in August from 8.7 in July, compared with the expectations of a smaller decrease to a reading of 4.6 in a survey compiled by Bloomberg.Industrial production data for July will be released at 9:15 am ET, followed by the pending home sales data for July at 10 am ET.In premarket action, bitcoin was down by 0.04%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% lower, Ether ETF (EETH) retreated 0.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was down 0.4%, while the iShares US Healthcare ETF (IYH) was 2% higher. The iShares Biotechnology ETF (IBB) was 0.2% lowerAmylyx Pharmaceuticals' (AMLX) stock was up more than 30% premarket after the company said its investigational post-bariatric hypoglycemia treatment Avexitide met its primary endpoint in a phase 3 clinical trial.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) was up 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% lower.Klarna Group (KLAR) shares were down more than 17% after the company said it has planned transitions for its chief financial officer and chief marketing officer, effective early 2027.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.8%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 1.2%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.1%. The VanEck Retail ETF (RTH) was 0.3% lower, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% higher.Baidu (BIDU) shares were down more than 7% pre-bell after the company reported lower Q2 non-GAAP earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.2%, the Vanguard Industrials Index Fund (VIS) was down 0.1%, and the iShares US Industrials ETF (IYJ) was inactive.Stantec (STN) stock was up 1% after the company said it received approval from the Toronto Stock Exchange to increase the number of shares it may repurchase for cancellation under its normal course issuer bid to 5.7 million shares, up from 2.3 million.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.8%, the iShares US Technology ETF (IYW) was 1.1% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 1.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined 3.4%, while the iShares Semiconductor ETF (SOXX) fell 3.6%.NVIDIA (NVDA) shares were down 1% in premarket activity after the company said it partnered with SB Energy to secure land, power, and shell capacity at the PORTS-Pike Technology Campus in Ohio, where OpenAI will be the tenant.EnergyThe iShares US Energy ETF (IYE) was up 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.9% higher.Phillips 66 (PSX) stock was 1% higher after Argus lifted its price target to $269 from $197.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.9% to reach $85.27 per barrel on the New York Mercantile Exchange. Natural gas was up 0.9% at $2.71 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 0.5%, while the United States Natural Gas Fund (UNG) was 0.02% lower.Gold futures for November were down by 0.6% at $4,448.00 an ounce on the Comex. Silver futures retreated 1.7% to $65.11 an ounce. SPDR Gold Shares (GLD) declined by 0.6%, and the iShares Silver Trust (SLV) was 1.1% lower.

Dow JonesNasdaq CompositeS&P 500$AMLX$BETH$BIDU$BITO$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$KLAR$NVDA$PMR$PSX$QQQ$RTH$SLV$SOXX$SPY$STN$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Tech

Technology stocks were falling pre-bell Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.6% lower.Baidu (BIDU) shares were down more than 8% after the company reported lower Q2 non-GAAP earnings and revenue.

$BIDU
Stocks Fall Pre-Bell as Hopes for Near-Term US-Iran Peace Deal Fade
US Markets

Stocks Fall Pre-Bell as Hopes for Near-Term US-Iran Peace Deal Fade

US equity futures were tracking in the red on Tuesday amid fading hopes for a US-Iran peace deal, as a temporary ceasefire between the two countries expired without an extension.The S&P 500 declined 0.6%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq fell 1.3% in premarket activity. The indexes finished the previous trading session lower.A 60-day ceasefire agreement between the US and Iran signed in June expired on Monday, with no immediate signs of renewed negotiations. The two countries agreed to the memorandum of understanding to end their war and negotiate a final deal, but the truce collapsed as tensions over the control of the Strait of Hormuz escalated.President Donald Trump told Fox News in an interview on Monday that he wasn't pressing for the Middle East conflict to end without Tehran conceding to his demands. "I have no time schedule," Trump reportedly said. "I'm not in a hurry."In the same interview, Trump warned that the US could attack Oman if the Gulf nation interferes with its blockade of Iranian ships in the Strait of Hormuz. Iran and Oman are reported to have held negotiations recently on managing the crucial waterway.Iran's top negotiator, Mohammad Bagher Ghalibaf, said Tuesday that the Strait of Hormuz will remain shut until the US meets the conditions of the interim deal signed in June, Reuters reported, citing state media.Iranian Foreign Ministry spokesman Esmail Baghaei on Monday ruled out extending the memorandum of understanding, according to a CNBC report that cited state news agency Tasnim.West Texas Intermediate crude oil increased 0.8% to $85.14 a barrel before the opening bell, while Brent edged 0.1% higher to $90.98.Treasury yields were trending higher in premarket action, with the two-year rate rising 0.2 basis points to 4.18% and the 10-year rate adding 1.2 basis points to 4.74%.Tuesday's economic calendar has the housing starts and permits data for July at 8:30 am ET, along with the import and export prices data for the same month. The industrial production report for July is out at 9:15 am, followed by the pending home sales index for the same month at 10 am.Shares of Nike (NKE) rebounded 1.1% pre-bell after closing Monday trading with a 4% drop. Meta Platforms (META) fell 0.7% as the social media giant faces a trial brought by a coalition of 29 states over allegations that Facebook and Instagram were designed in ways that could adversely affect the mental health of children and teenagers.Home Depot (HD) gained as second-quarter sales rose year over year and the home-improvement retailer reaffirmed its full-year outlook. Baidu's (BIDU) Nasdaq-listed stock slipped 4.9% as the Chinese technology firm reported weaker-than-expected second-quarter results.Keysight Technologies (KEYS) posts its latest quarterly earnings after the markets close.Gold declined 0.4% to $4,455 per troy ounce, while bitcoin slipped 0.3% to $64,142.

Dow JonesNasdaq CompositeS&P 500$BIDU$HD$KEYS$META$NKE
Baidu Second-Quarter Results Miss Street Views Amid Online Marketing Weakness
US Markets

Baidu Second-Quarter Results Miss Street Views Amid Online Marketing Weakness

Baidu (BIDU) reported lower-than-expected second-quarter results on Tuesday amid weakness in its online marketing business, even though the Chinese technology firm recorded double-digit growth in its core artificial intelligence-powered operations.The company's adjusted earnings came in at 7.22 renminbi ($1.06) per American depositary share for the quarter ended June, down from 13.58 renminbi the year before, trailing the FactSet-polled consensus of 9.35 renminbi. Revenue declined 4% to 31.33 billion renminbi, missing the Street's view of 31.78 billion renminbi.The American depositary receipts of Baidu listed on the Nasdaq fell 5% in the most recent premarket activity.Revenue in the company's general business decreased 4% year over year to 25.18 billion renminbi. Online marketing services, which accounted for about 52% of the division's top line, recorded a 19% drop in revenue to 13.1 billion renminbi."While our online marketing business remains under pressure, the growing momentum in our core AI-powered Business reaffirms Baidu's transition from an internet-centric company to an AI-first company, and strengthens our confidence in our long-term growth potential," Chief Executive Robin Li said in a statement.Revenue in Baidu's core AI-powered business advanced 25% to 12.5 billion renminbi, buoyed by a 50% jump in the AI cloud infra segment. AI applications rose 3% while AI-native marketing services was flat."Going forward, we remain firmly committed to investing in AI as the core driver of Baidu's long-term growth," Chief Financial Officer Haijian He said.Chinese e-commerce and cloud technology giant Alibaba (BABA) is scheduled to release its quarterly results on Thursday.In the US technology sector, Alphabet (GOOG, GOOGL) last month reported second-quarter revenue above Wall Street's estimates amid robust AI infrastructure demand, while Meta Platforms (META) provided a weak third-quarter revenue outlook.

$BIDU
Wire

Baidu Q2 Non-GAAP Earnings, Revenue Decline; Shares Down Pre-Bell

Baidu (BIDU) reported Q2 non-GAAP earnings Tuesday of 7.22 Chinese renminbi ($1.06) per diluted American depository share, down from 13.58 renminbi a year earlier.Analysts polled by FactSet expected 9.35 renminbi.Revenue for the quarter ended June 30 was 31.33 billion renminbi, down from 32.71 billion renminbi a year earlier.Analysts expected 31.78 billion renminbi.Shares of the company traded more than 3% lower in premarket activity.Price: $100.20, Change: $-3.92, Percent Change: -3.76%

$BIDU
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Decline in Thursday Trading

Asian equities traded in the US as American depositary receipts were lower on Thursday morning, shedding 0.6% to 2,938.98 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by semiconductor company ChipMOS Technologies (IMOS) and carmaker Honda (HMC), which rose 6.2% and 3.2% respectively.They were followed by tech giant Baidu (BIDU), which climbed 3.3%.The decliners from North Asia were led by semiconductor company United Microelectronics (UMC) and radiotherapy and diagnostic imaging operator Concord Medical Services (CCM), which fell 8.9% and 0.7% respectively.They were followed by fabless semiconductor manufacturer Himax Technologies (HIMX), which shed 4.7%.From South Asia, the gainers were led by tech firm Sify Technologies (SIFY) and travel agency Trip.com (TCOM), which rose 3.2% and 1.9% respectively. They were followed by telecom PLDT (PHI), which added 1.6%.The decliners from South Asia were led by tech company Wipro (WIT), which shed 1.9%.

$BIDU$CCM$HIMX$HMC$IMOS$PHI$SIFY$TCOM$UMC
Sectors

Sector Update: Tech Stocks Fall Premarket Thursday

Technology stocks were falling premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) 3.1% lower.Taiwan Semiconductor Manufacturing (TSM) shares were down nearly 4% even after the company reported higher Q2 earnings and net revenue.Uber Technologies (UBER) stock was up more than 1% after the company disclosed its acquisition offer to buy Berlin-based Delivery Hero in a deal representing an equity value of $14.8 billion, or $13.7 billion adjusted for Uber's prior stake purchases.Baidu (BIDU) shares were up more than 2% after the company said its board approved a plan to pursue a voluntary conversion to a dual-primary listing on the Hong Kong Stock Exchange, while maintaining its primary listing on the Nasdaq.

$BIDU$TSM$UBER$XLK$XSD
Asia Markets

Update: US Equity Futures Edging Lower Pre-Bell as Traders Cautious on Tech, US Strikes Iran Targets Anew

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Thursday as traders saw tech stocks trend downwards and the US unleashed another round of strikes against Iran.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.4%, and Nasdaq futures were 1% lower.SK Hynix (SKHY) stock fell more than 11% in Seoul and 8% in premarket activity on the Nasdaq.US Central Command said in a post on X that it completed another wave of attacks against Iran, holding the nation "accountable" at the direction of President Donald Trump.Iran warned that it would hit key infrastructure in the Gulf region if the US followed through on Trump's threats on Tuesday to strike Iranian infrastructure such as bridges and power plants if progress on peace talks was not achieved.Traders took note of the latest round of earnings with Taiwan Semiconductor Manufacturing (TSM) posting higher Q2 earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.3% at $86.06 per barrel and US West Texas Intermediate crude 1.3% higher at $80.66 per barrel.US retail sales rose by 0.2% in June, following a 1.0% gain in the prior month and meeting expectations in a survey compiled by Bloomberg. Initial jobless claims dropped to 208,000 in the week ended July 11 from 216,000 in the previous week, compared with expectations for an increase to 217,000. The Philadelphia Federal Reserve's monthly manufacturing index rose to 41.4 in July from 10.3 in June, compared with expectations for a smaller increase to a reading of 12.5.The July US housing market index, slated for 10 am ET, is expected at 35, unchanged from the prior month. Pending home sales for June are expected to decline by 0.5% after a gain of 3.8% in the prior month.Federal Reserve Dallas President Lorie Logan, Kansas City President Jeffrey Schmid, and Vice Chair Philip Jefferson are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 2.8% lower, Hong Kong's Hang Seng ended 1.3% higher, and China's Shanghai Composite finished 1.9% lower. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, Taiwan Semiconductor Manufacturing shares were 4.2% lower despite the company's Q2 earnings and revenue surpassing analysts' consensus estimates. Stocks of STMicroelectronics (STM), Western Digital (WDC), and Seagate Technology (STX) were down as part of a larger decline in the tech sector. STMicroelectronics shares fell 4.8%, Western Digital stock was down 7.7%, and Seagate Technology shares dropped 6.5%.On the winning side, UnitedHealth Group (UNH) stock was up 6.7% after the company reported Q2 adjusted earnings and revenue that beat analyst estimates, as well as boosting its 2026 outlook. Baidu (BIDU) stock was up 2.1% after the company said its board approved a plan to pursue a voluntary conversion to a dual-primary listing on the Hong Kong Stock Exchange, while maintaining its primary listing on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$BIDU$SKHY$STM$STX$TSM$UNH$WDC

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