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Asia Markets

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

Asian equities traded in the US as American depositary receipts were lower Monday morning, declining 0.48% to 2,833.93 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by streaming music service Tencent Music Entertainment Group (TME) and game live-streaming service DouYu International (DOYU), which rose 7.1% and 3.8% respectively. They were followed by healthcare platform 111 (YI) and lender Mitsubishi UFJ Financial Group (MUFG), which were up 1.9% and 1.8% respectively.The decliners from North Asia were led by Eason Technology (DXF) and online game developer The9 (NCTY), which shed 17% and 6.9% respectively. They were followed by biopharmaceutical company Zai Lab (ZLAB) and semiconductor company ASE Technology (ASX), which lost 6.8% and 6.5% respectively.From South Asia, the gainers were led by telecommunications operators Telekomunikasi Indonesia (TLK) and PLDT (PHI), which rose 4% and 1.8% respectively. It was followed by HDFC Bank (HDB), which increased 1.5%.The decliners from South Asia were computer hardware maker Canaan (CAN) and IT firm Sify Technologies (SIFY), which dropped 4.4% and 0.2% respectively.

$ASX$CAN$DOYU$DXF$HDB$MUFG$NCTY$PHI$SIFY$TME$YI$ZLAB
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Wednesday Surge Higher in Wednesday Trading

Asian equities traded in the US as American depositary receipts were surging higher Wednesday morning, climbing 1.87% to 2,896.53 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by internet and data center services provider VNET Group (VNET) and video display maker LG Display (LPL), which surged 29% and 8.6% respectively. They were followed by online retailer JD.com (JD) and semiconductor company Himax Technologies (HIMX), which climbed 6% and 3.3% respectively.The decliners from North Asia were led by online game developer The9 (NCTY) and data centers and crypto assets company Token Cat (TC), which lost 3.3% and 3.2% respectively. They were followed by lender Shinhan Financial Group (SHG) and streaming music service Tencent Music Entertainment Group (TME), which dropped 2.8% and 2.2% respectively.From South Asia, the only gainers were pharmaceutical company Dr. Reddy's Laboratories (RDY) and telecommunications operator Telekomunikasi Indonesia (TLK), which rose 2.7% and 0.7% respectively.The decliners from South Asia were led by fintech firm Trident Digital Tech (TDTH) and IT firm Infosys (INFY), which fell 12% and 2.3% respectively. They were followed by computer hardware maker Canaan (CAN) and IT firm Wipro (WIT), which were down 1.7% and 1.3% respectively.

$CAN$HIMX$INFY$JD$LPL$NCTY$RDY$SHG$TC$TDTH$TLK$TME$VNET$WIT
Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Tencent Music Entertainment Group

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price by USD2 to USD10 using a forward P/E of 10.2x compared to the three-year historical average of 17.4x. We are conservative on valuation given our more cautious view on mid-single-digit earnings growth. We raise our 2026 EPS estimate by RMB0.05 to RMB6.55 for 2026 and keep 2027 at RMB7.00 on revenue projections of RMB36.1B and RMB39.8B, more conservative than the consensus. The company faces significant headwinds from an intensely competitive landscape and the rise of unauthorized AI-generated content, which is pressuring music subscription growth. In response, management is accelerating its strategy to evolve from a traditional streaming service into an integrated, IP-centric music ecosystem. This involves deepening its partnership with the broader Tencent ecosystem, particularly WeChat, and expanding monetization through offline events, merchandise, and innovative fan-based membership models. We see short-term volatility in TME's addressable markets, but management remains confident.

$TME
Research

Research Alert: Tencent Music Entertainment Group Reports Solid Results In Q1 2026

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TME reported Q1 2026 normalized EPS of CNY1.46 vs. CNY1.37 prior year, with total revenues growing 7.3% to CNY7.90B supported by strong music services performance. Music-related services surged 12.2% to CNY6.51B while social entertainment declined 11.0%, reflecting successful execution of the dual engine strategy. TME achieved margin expansion to 44.9% from 44.1% through favorable revenue mix shifts toward higher-margin subscriptions and advertising, with operating leverage driving 10.5% adjusted EBITDA growth to CNY2.83B. Strategic initiatives around premium content partnerships with key labels and AI-enhanced offerings are gaining traction, with SVIP membership showing solid adoption. We believe TME's diversification beyond core subscriptions into live performances, advertising, and IP monetization positions the company well for sustained growth. The company is expanding its collaboration with the Tencent ecosystem, particularly Weixin Video Account, to broaden user reach and drive incremental traffic.

$TME
Stocks Down Pre-Bell as Trump Warns US-Iran Ceasefire Fragile; Inflation Data on Deck
US Markets

Stocks Down Pre-Bell as Trump Warns US-Iran Ceasefire Fragile; Inflation Data on Deck

US equity futures were pointing lower on Tuesday as investors assess President Donald Trump's latest comments on the US-Iran ceasefire and await a key inflation report.The S&P 500 declined 0.3%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.7% in premarket activity. The indexes finished the previous trading session up, with the S&P 500 and the Nasdaq logging new closing highs.The ceasefire agreement between the US and Iran is on "massive life support," Trump told reporters on Monday, according to several media outlets. "I would call it the weakest, right now, after reading that piece of garbage they sent us - I didn't even finish reading it," Trump reportedly said.Trump on Sunday rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the Strait of Hormuz. Tehran's proposal, delivered via mediator Pakistan, reportedly sought an immediate end to hostilities, the lifting of the US naval blockade of its ports and assurances against further aggression.West Texas Intermediate crude oil increased 3.2% to $101.16 a barrel before the opening bell, while Brent advanced 2.9% to $107.27.Trump is scheduled to arrive in China Wednesday for a high-stakes state visit, with talks set to take place Thursday and Friday."The US will want China to use its influence with Tehran, especially because China is a major buyer of Iranian oil," Saxo Bank Chief Investment Strategist Charu Chanana said in a report Monday. "China, meanwhile, wants energy security and stable shipping lanes, but it is unlikely to appear as if it is acting under US instruction."The consumer price index report for April is scheduled for an 8:30 am ET release. Official data are expected to show that consumer inflation rose 0.6% and 3.7% on sequential and annual bases last month, according to a Bloomberg-compiled consensus.Treasury yields were trending higher in premarket action, with the two-year rate rising 2.4 basis points to 3.97% and the 10-year rate adding 1.9 basis points to 4.43%.The National Federation of Independent Business small business optimism index posted a 0.1-point increase for April to 95.9.Sea (SE), JD.com (JD), On Holding (ONON), Tencent Music Entertainment (TME), Aramark (ARMK) and Under Armour (UA, UAA) are scheduled to report their latest financial results before the bell, among others.Gold declined 0.6% to $4,701 per troy ounce, while bitcoin fell 1.5% to $80,679.

Dow JonesNasdaq CompositeS&P 500$ARMK$JD$ONON$SE$TME$UA$UAA
Asia Markets

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

Asian equities traded in the US as American depositary receipts were tracking modestly lower Monday morning, down 0.1% to 2,793.1 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by fintech firm Qfin (QFIN) and mobile app developer Cheetah Mobile (CMCM), which rose 2.1% each, and lender Mitsubishi UFJ Financial Group (MUFG), which was up 1.5%.The decliners from North Asia were led by semiconductor companies Himax Technologies (HIMX) and ASE Technology (ASX), which fell 5.6% and 4.5% respectively. They were followed by computer hardware maker Canaan (CAN) and music streaming service Tencent Music Entertainment Group (TME), which dropped 1.2% and 0.3% respectively.From South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories (RDY) and lender HDFC Bank (HDB), which advanced 2.4% and 1.2% respectively. They were followed by tech conglomerate Sea (SE) and IT firm Wipro (WIT), which increased 0.6% and 0.3% respectively.The decliners from South Asia were IT firms Sify Technologies (SIFY) and Infosys (INFY), which lost 3.7% and 2.6% respectively.

$ASX$CAN$CMCM$HDB$HIMX$INFY$MUFG$QFIN$RDY$SE$SIFY$TME$WIT