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Asia Markets

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

Asian equities traded in the US as American depositary receipts were heading lower in Thursday trading, dropping 0.90% to 2,955.95 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by used car marketplace Uxin (UXIN) and brand platform Baozun (BZUN), which climbed 16% and 4%, respectively. They were followed by online entertainment service iQIYI (IQ) and music streaming service Tencent Music Entertainment Group (TME), which advanced 1% and 0.9% respectively.The decliners from North Asia were led by biopharmaceutical company Zai Lab (ZLAB) and healthcare platform 111 (YI), which fell 5.4% and 3%, respectively. They were followed by tech company Baidu (BIDU) and polysilicon manufacturer Daqo New Energy (DQ), which were down 2.7% and 0.9%, respectively.From South Asia, the lone gainer was telecommunications operator Telekomunikasi Indonesia (TLK), which was up 0.2%.The decliners from South Asia were led by tech conglomerate Sea (SE) and IT firm Infosys (INFY), which dropped 2.7% and 2.1%, respectively. They were followed by IT firm Wipro (WIT) and computer hardware maker Canaan (CAN), which lost 1.8% and 0.9%, respectively.

$BIDU$BZUN$CANG$DQ$IQ$SE$SIFY$TLK$TME$UXIN$WIT$YI$ZLAB
Asia Markets

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

Asian equities traded in the US as American depositary receipts were tracking slightly higher Thursday morning, rising 0.15% to 3,003.67 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by technology company Xunlei (XNET) and education company 17 Education & Technology Group (YQ), which climbed 4% and 10% respectively. They were followed by brand platform 36Kr (KRKR) and online entertainment service iQIYI (IQ), which advanced 4.6% and 4.5% respectively.The decliners from North Asia were led by semiconductor company Silicon Motion Technology (SIMO) and electric vehicle maker NIO (NIO), which dropped 4.9% and 2.5% respectively. They were followed by music streaming service Tencent Music Entertainment Group (TME) and fintech firm LexinFintech (LX), which lost 2.4% and 0.2% respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and IT firm Wipro (WIT), which rose 15% and 1% respectively. They were followed by telecommunications operator PLDT (PHI), which were up 1.1%.The decliners from South Asia were led by pharmaceutical company Dr. Reddy's Laboratories (RDY), which dropped 1.8%, followed by lenders ICICI Bank (IBN) and HDFC Bank (HDB), which were off 0.5% each.

$CAN$HDB$IBN$IQ$KRKR$LX$NIO$PHI$RDY$SIMO$TME$WIT$XNET$YQ
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 trending lower Thursday morning, declining 0.34% to 2,958.28 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by diagnostic imaging center company Concord Medical Services (CCM) and online brokerage UP Fintech (TIGR), which rose 3.1% and 3%, respectively. They were followed by education company 17 Education & Technology Group (YQ) and semiconductor company ASE Technology (ASX), which were up 2.6% and 2.2%, respectively.The decliners from North Asia were led by video-sharing platform Bilibili (BILI) and tech company Alibaba Group (BABA), which fell 3.7% and 3.1%, respectively. They were followed by music streaming service Tencent Music Entertainment Group (TME) and online game developer The9 (NCTY), which were down 2.4% and 1.7%, respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and lender ICICI Bank (IBN), which climbed 11% and 0.7%, respectively. They were followed by telecommunications operator PLDT (PHI) and lender HDFC Bank (HDB), which increased 0.6% and 0.2%, respectively.The decliners from South Asia were led by tech conglomerate Sea (SE) and IT firm Infosys (INFY), which dropped 2% and 1.8%, respectively. They were followed by IT firm Wipro (WIT) and telecommunications operator Telekomunikasi Indonesia (TLK), which lost 1.5% and 0.5%, respectively.

$ASX$BABA$BILI$CAN$CCM$HDB$IBN$INFY$NCTY$PHI$SE$TIGR$TLK$TME$WIT$YQ
Research

Nomura Downgrades Tencent Music Entertainment to Neutral From Buy, Adjusts PT to $10 From $12.50

Tencent Music Entertainment Group (TME) has an average rating of overweight and mean price target of $12.14, according to analysts polled by FactSet.

$TME
Asia Markets

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

Asian equities traded in the US as American depositary receipts were marginally higher Thursday morning, edging up 0.03% to 3,022.75 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by education company Four Seasons Education (FEDU) and music streaming service Tencent Music Entertainment Group (TME), which advanced 13% and 2.9%, respectively. They were followed by tech company Xunlei (XNET) and biopharmaceutical company Zai Lab (ZLAB), which rose 2.7% and 2.6%, respectively.The decliners from North Asia were led by automotive marketplace Token Cat (TC) and online retailer JD.com (JD), which dropped 7.7% and 5.2%, respectively. They were followed by real estate management and digital security company Eason Technology (DXF) and media company Phoenix New Media (FENG), which lost 2.8% and 2.7%, respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and telecommunications operator Telekomunikasi Indonesia (TLK), which increased 2.5% and 0.6%, respectively. They were followed by IT firm Wipro (WIT) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 0.5% and 0.4%, respectively.The decliners from South Asia were led by tech conglomerate Sea (SE) and lender ICICI Bank (IBN), which fell 2.3% and 0.9%, respectively.

$CAN$DXF$FEDU$FENG$IBN$JD$RDY$SE$TC$TLK$TME$WIT$XNET$ZLAB
Update: Tencent Music Entertainment's Second-Quarter Revenue Growth Slows Sequentially; Shares Slump
US Markets

Update: Tencent Music Entertainment's Second-Quarter Revenue Growth Slows Sequentially; Shares Slump

(Article updated to write out the full company name in the headline.)Tencent Music Entertainment's (TME) shares tumbled in Tuesday trading as the company's second-quarter revenue grew at a slower pace sequentially, though the results topped Wall Street's estimates.The Chinese music and audio entertainment platform reported revenue of 8.93 billion renminbi ($1.32 billion) for the June quarter, representing 5.8% year-over-year growth and exceeding the FactSet-polled consensus of 8.81 billion renminbi.That's slower than the 7.3% topline increase in the first quarter that the company reported in May. The company's American depositary receipts on the New York Stock Exchange slumped 10.1% in morning trade, and have slid 49% since the start of the year.Tencent reported non-IFRS earnings of 1.70 renminbi per American depositary share for the second quarter, compared with 1.66 renminbi a year earlier, while analysts projected 1.64 renminbi."Our focus on differentiated content and a vibrant community continues to deepen engagement with our core users, and (Super VIP) membership continues to grow," Chief Executive Ross Liang said in a statement.Tencent has discontinued reporting key operating metrics starting this year, including online music monthly active users, paying users, and average revenue per paying user, citing its evolving business model. It will instead disclose the number of total paying users across its music services annually at the end of the year.Tencent's music related services division delivered an 11% year over year growth in revenue to 7.61 billion renminbi, driven by marketing and consumption services. Membership services revenue climbed 8.1% to 4.79 billion renminbi.The company completed the acquisition of Ximalaya, an online audio platform in China, earlier this year, helping boost overall revenue for the second quarter."The addition of Ximalaya is an exciting milestone that will allow us to deliver an even richer audio experience and serve our users more effectively," Liang said. "Together, we are shaping the future of music and audio entertainment and unlocking long-term growth."Revenue from social entertainment services and others fell 16% to 1.33 billion renminbi, the company said.Price: $8.43, Change: $-0.29, Percent Change: -3.36%

$TME
Research

China Renaissance Downgrades Tencent Music Entertainment to Hold From Buy, Adjusts PT to $9.30 From $13.30

Tencent Music Entertainment Group (TME) has an average rating of overweight and mean price target of $13.28, according to analysts polled by FactSet.

$TME
Research

China Merchants Downgrades Tencent Music Entertainment to Hold From Buy, Adjusts PT to $9.50 From $11.50

Tencent Music Entertainment Group (TME) has an average rating of overweight and mean price target of $13.28, according to analysts polled by FactSet.

$TME
Sectors

Sector Update: Consumer Stocks Decline in Afternoon Trading

Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.Redbook US same-store sales rose by 8.3% from a year earlier in the week ended Aug. 8 after an 8.7% year-over-year increase in the previous week. Sales were lifted by back-to-school sales, particularly in multiple states that were holding sales tax holidays, Redbook said.In corporate news, On (ONON) tempered its full-year constant-currency sales growth outlook as the Swiss sneaker maker's Q2 revenue fell short of market estimates. Its shares fell past 20%.Tencent Music Entertainment's (TME) shares tumbled past 11% after the company's Q2 revenue grew at a slower pace sequentially, though the results topped Wall Street's estimates.Lionsgate Studios (LION) is being urged by activist investor Anson Funds to either redefine itself for "the AI era" or put itself up for sale, Semafor reported, citing a July letter to Lionsgate's board that it reviewed. Lionsgate shares fell 2.9%.

$LION$ONON$TME
Asia Markets

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

Asian equities traded in the US as American depositary receipts were edging slightly lower Tuesday morning, declining 0.14% to 3,020.40 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by diagnostic imaging centers company Concord Medical Services (CCM) and biopharmaceutical company Zai Lab (ZLAB), which rose 5.5% and 5.4% respectively. They were followed by education company 17 Education & Technology Group (YQ) and game live-streaming service HUYA (HUYA), which advanced 4.2% and 3.9% respectively.The decliners from North Asia were led by music streaming service Tencent Music Entertainment Group (TME) and electric vehicle maker NIO (NIO), which dropped 12% and 6% respectively. They were followed by online retailer JD.com (JD) and video-sharing platform Bilibili (BILI), which were down 4.8% and 4.7% respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which climbed 11% and 3.1% respectively. They were followed by computer hardware maker Canaan (CAN) and lender HDFC Bank (HDB), which increased 1.4% and 1% respectively.The decliners from South Asia were led by telecommunications operator PT Telekomunikasi Indonesia (TLK) and IT firm Sify Technologies (SIFY), which lost 1.7% and 0.7% respectively. They were followed by IT company Wipro (WIT) and telecommunications operator PLDT (PHI), which were off 0.5% and 0.3% respectively.

$BILI$CAN$CCM$HDB$HUYA$JD$NIO$PHI$RDY$SE$SIFY$TLK$TME$WIT$YQ$ZLAB
Tencent's Second-Quarter Revenue Growth Slows Sequentially; Shares Slump
US Markets

Tencent's Second-Quarter Revenue Growth Slows Sequentially; Shares Slump

Tencent Music Entertainment's (TME) shares tumbled in Tuesday trading as the company's second-quarter revenue grew at a slower pace sequentially, though the results topped Wall Street's estimates.The Chinese music and audio entertainment platform reported revenue of 8.93 billion renminbi ($1.32 billion) for the June quarter, representing 5.8% year-over-year growth and exceeding the FactSet-polled consensus of 8.81 billion renminbi.That's slower than the 7.3% topline increase in the first quarter that the company reported in May. The company's American depositary receipts on the New York Stock Exchange slumped 10.1% in morning trade, and have slid 49% since the start of the year.Tencent reported non-IFRS earnings of 1.70 renminbi per American depositary share for the second quarter, compared with 1.66 renminbi a year earlier, while analysts projected 1.64 renminbi."Our focus on differentiated content and a vibrant community continues to deepen engagement with our core users, and (Super VIP) membership continues to grow," Chief Executive Ross Liang said in a statement.Tencent has discontinued reporting key operating metrics starting this year, including online music monthly active users, paying users, and average revenue per paying user, citing its evolving business model. It will instead disclose the number of total paying users across its music services annually at the end of the year.Tencent's music related services division delivered an 11% year over year growth in revenue to 7.61 billion renminbi, driven by marketing and consumption services. Membership services revenue climbed 8.1% to 4.79 billion renminbi.The company completed the acquisition of Ximalaya, an online audio platform in China, earlier this year, helping boost overall revenue for the second quarter."The addition of Ximalaya is an exciting milestone that will allow us to deliver an even richer audio experience and serve our users more effectively," Liang said. "Together, we are shaping the future of music and audio entertainment and unlocking long-term growth."Revenue from social entertainment services and others fell 16% to 1.33 billion renminbi, the company said.Price: $8.86, Change: $-1.04, Percent Change: -10.51%

$TME
Wire

Update: Tencent Music Entertainment Shares Fall After Q2 Results

(Updates to add the company's latest stock move in the headline and in the first paragraph.)Tencent Music Entertainment (TME) shares fell by nearly 10% in early Tuesday trading after the company reported its Q2 results.The China-based music platform posted Q2 non-IFRS earnings Tuesday of 1.70 Chinese renminbi ($0.25) per diluted American depositary share, up from 1.66 renminbi a year earlier.Analysts polled by FactSet expected 1.64 renminbi.Revenue for the quarter ended June 30 was 8.93 billion renminbi, compared with 8.44 billion renminbi a year earlier.Analysts expected 8.81 billion renminbi.Price: $8.97, Change: $-0.94, Percent Change: -9.44%

$TME
Stocks Mostly Up Pre-Bell as Investors Assess Uncertainty Over US-Iran Deal
US Markets

Stocks Mostly Up Pre-Bell as Investors Assess Uncertainty Over US-Iran Deal

US equity markets were mostly trending higher before the open Tuesday as investors weigh fading optimism that the US and Iran would reach a quick resolution to their conflict and reopen the Strait of Hormuz.The S&P 500 edged up 0.1% and the Nasdaq added 0.3% in premarket activity, while the Dow Jones Industrial Average was slightly in the red. The indexes closed Monday's trading session lower.In a social media post Monday, President Donald Trump demanded compensation from Iran for casualties caused by its conflicts, attacks and suppression of protests."I see that representatives of the Islamic Republic of Iran are asking for compensation for the damage done to them during the last five month military conflict," according to Trump. "I am likewise demanding compensation from Iran, for all of the people that they have killed and gravely wounded with their roadside bombs and many conflicts, for which they are famous, as led initially by General Soleimani."Iranian Foreign Minister Abbas Araghchi recently said there was no possibility of restarting negotiations with the US over a peace deal until it stops violating the memorandum of understanding signed between the two countries in June and compensates Tehran for those breaches, according to Iran-based Tasnim News Agency.Trump recently indicated to the media that he's prepared to exert greater economic pressure on Iran instead of launching another military attack.West Texas Intermediate crude oil increased 2% to $83.77 a barrel before the opening bell, while Brent advanced 1.8% to $89.30."Oil prices remain supported by uncertainty surrounding the Strait of Hormuz," ING Bank said in a report Monday. "Significant hurdles remain before any broader agreement is reached."US Treasury yields were moving higher in premarket action, with the two-year rate rising 1.4 basis points to 4.25% and the 10-year rate gaining 2.7 basis points to 4.73%.Shares of Nvidia (NVDA) inclined 1% pre-bell after the tech bellwether said it has partnered with six of Wall Street's largest financial institutions to raise more than $500 billion in third-party capital for the development of artificial intelligence infrastructure across its ecosystem.Hims & Hers Health (HIMS) dropped 6.2% after the company reported a wider-than-expected second-quarter loss. Trump Media & Technology (DJT) decreased 0.9% following an 8% decline at the close of Monday as it announced its latest quarterly earnings.Sea (SE), Cardinal Health (CAH), Elbit Systems (ESLT), On Holding (ONON), Tencent Music Entertainment (TME), and Smithfield Foods (SFD) are scheduled to release their latest financial results before the bell, among others. Lumentum (LITE), CoreWeave (CRWV) and Super Micro Computer (SMCI) report their earnings after the markets close.Tuesday's economic calendar has the existing home sales report for July at 10 am ET. The National Federation of Independent Business small business optimism index posted a 2.4-point increase for July to 99.8.Gold rose 0.4% to $4,438 per troy ounce, while bitcoin traded up 0.4% at $64,180.

Dow JonesNasdaq CompositeS&P 500$ARMK$CAH$CRWV$DJT$ESLT$HIMS$LITE$NVDA$ONON$SE$SFD$SMCI$TME
Asia Markets

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

Asian equities traded in the US as American depositary receipts were surging higher Tuesday morning, rising 1.94% to 2,917.79 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by semiconductor companies ASE Technology (ASX) and Silicon Motion Technology (SIMO), which climbed 8% and 6.6% respectively. They were followed by semiconductor company Himax Technologies (HIMX) and fintech firm Jiayin Group (JFIN), which advanced 6.4% and 4.2% respectively.The decliners from North Asia were led by online game developer The9 (NCTY) and tech company Alibaba Group (BABA), which fell 3.2% and 1.7% respectively. They were followed by streaming music service Tencent Music Entertainment Group (TME) and education company 17 Education & Technology Group (YQ), which increased 1.5% and 1.4% respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and IT firm Sify Technologies (SIFY), which rose 6.2% and 2.2% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and lender HDFC Bank (HDB), which were up 1% and 0.8% respectively.The decliners from South Asia were led by fintech company Trident Digital Tech (TDTH) and IT firm Infosys (INFY), which dropped 2.9% and 0.8% respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and telecommunications operator PLDT (PHI), which were off 0.6% and 0.3% respectively.

$ASX$BABA$CAN$HDB$HIMX$INFY$JFIN$NCTY$PHI$RDY$SIFY$SIMO$TDTH$TLK$TME$YQ
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

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