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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 rising sharply Tuesday morning, up 1.04% to 2,925.23 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by semiconductor companies Himax Technologies (HIMX) and Silicon Motion Technology (SIMO), which climbed 13% and 5.7% respectively. They were followed by internet and data center services provider VNET Group (VNET) and tech company Alibaba Group (BABA), which advanced 5.1% and 4.6% respectively.The decliners from North Asia were led by education company 17 Education & Technology Group (YQ) and online brokerage UP Fintech (TIGR), which dropped 7.4% and 7% respectively. They were followed by mobile big data platform Aurora Mobile (JG) and real estate management and digital security company Eason Technology (DXF), which lost 6.5% and 3.9% respectively.From South Asia, the gainers were led by fintech firm Trident Digital Tech (TDTH) and lender HDFC Bank (HDB), which rose 7.6% and 0.5% respectively. They were followed by telecommunications operator PLDT (PHI) and IT firm Sify Technologies (SIFY), which were up 0.2% and 0.1% respectively.The decliners from South Asia were led by IT firms Wipro (WIT) and Infosys (INFY), which fell 6.9% and 2.1% respectively. They were followed by computer hardware maker Canaan (CAN) and tech conglomerate Sea (SE), which were down 2% and 1.5% respectively.

$BABA$CAN$DXF$HDB$HIMX$INFY$JG$PHI$SE$SIFY$SIMO$TDTH$TIGR$VNET$WIT$YQ

Asia Markets21d ago

Wall Street Set to Open Lower in Tuesday Trading as Investors Look for Signs of Middle East Peace Deal, Await Key Labor Data

US stocks look set to open modestly lower in Tuesday's trading session as investors look for any signs that stalled Middle East may restart, and await key labor market data set for release later in the morning.The Dow Jones Industrial Average futures were down 0.5%, S&P 500 futures were off 0.2%, and Nasdaq futures were edging 0.1% lower.The Job Openings and Labor Turnover Survey (JOLTS) for April is set to be released at 10 am ET, which will give investors a good indication on the strength of the US labor market. The reading is expected to remain unchanged at 6.866 million job openings, according to Bloomberg.Oil prices were moving lower, with front-month global benchmarks Brent crude declining 0.96% to $94.07 a barrel, while West Texas Intermediate crude was down 1.10% to $91.15 a barrel.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng surged 2.5%, and China's Shanghai Composite gained 0.4%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was edging 0.1% higher, Germany's DAX was up 0.7%, and France's CAC was rising 0.5%.In equities, shares of Hewlett Packard Enterprise (HPE) surged 27% in Tuesday's premarket session after it reported fiscal Q2 earnings late Monday that beat analyst forecasts.Marvell Technology (MRVL) shares climbed 18% after multiple news outlets reported that Nvidia (NVDA) Chief Executive Jensen Huang called the chipmaker the next "trillion-dollar company."Shares of STMicroelectronics (STM) advanced 10% after it said Tuesday that it now expects to generate data center revenue of about $1 billion in 2026, compared with previous guidance of more than $500 million.On the losing side, shares of Abivax (ABVX) tumbled 35% after the company's phase 3 maintenance trial evaluating obefazimod in ulcerative colitis met its primary endpoint and key secondary endpoints, though malignancy cases reported during the trial weighed on the results.AEVEX's (AVEX) stock was down 11% pre-bell after it reported late Monday it launched a public offering of its class A common shares, along with certain selling shareholders.And Praxis Precision Medicines' (PRAX) shares were down 10% after it reported late Monday that its phase 2/3 trial assessing vormatrigine to treat focal onset seizures failed to meet its primary endpoint of percent change in monthly seizure frequency from baseline.

Dow JonesNasdaq CompositeS&P 500$ABVX$AVEX$HPE$MRVL$PRAX$STM

Asia Markets21d ago

Tadawul Shares End Tuesday Muted on Partial Hezbollah-Israel Ceasefire Deal

Saudi Arabian equities were subdued on Tuesday, with the Tadawul All Share Index closing at 0.05% in the green as Lebanon and Israel took steps to de-escalate the Middle Eastern conflict.Investors cheered as Lebanon disclosed a partial ceasefire deal between Israel and Hezbollah. The deal will see Hezbollah cease its attacks on Israel, while the Israeli side will avoid attacking Beirut and Hezbollah-controlled suburbs.Market watchers welcomed the news as an Israel-Lebanon ceasefire deal was one of Iran's conditions to end its conflict with the US. However, the US said that the conflict between Israel and Hezbollah was not related to its conflict with Iran."A little later, further escalatory risks came into play, as Iran also threatened to target northern Israel if Israel continued attacks on Lebanon. That was according to Iran's ISNA news, who cited the country's Central Military Command. This marked a clear shift from the more hopeful tone of last week. The mood did then improve later in the session as Trump sought to de-escalate the tensions in Lebanon, with the US President claiming that Israel and Hezbollah agreed to "stop shooting" at each other after his calls with their respective leaders," Deutsche Bank Research said in a note.Back at home, Axelerated Solutions for Information and Communication Technology (SASE:9637) shares ticked up 3.96% as it signed a memorandum of understanding to acquire a 30% stake in the Shaheen Electronic Insurance Broker platform.Meanwhile, Anmat Technology for Trading (SASE:9639) won a contract from Saudi Energy Co. (SASE:5110) for an end-user device replacement and expansion project in the kingdom. Anmat Technology and Saudi Energy closed 5.86% and 1.65% higher, respectively.

^TASISASE:5110SASE:9637SASE:9639

Asia Markets21d ago

Abu Dhabi, Dubai Stocks Fall Ahead of Key Economic Data

Stock trading in the United Arab Emirates ended lower on Tuesday as the FTSE ADX General Index declined 0.304%, while the DFM General Index was down 0.738%.The local economic calendar will see the release of the UAE S&P Global Purchasing Managers' Index report for May on Wednesday. The data, which provides investors with insights into the country's non-oil private sector activity, fell to 52.1 in April from 52.9 in March.On the geopolitical front, US President Donald Trump said that talks with Iran are continuing at a rapid pace, countering news that the latter is reportedly suspending indirect peace negotiations due to Israel's attacks in Lebanon. Trump also stated that both Hezbollah and Israel agreed to stop their attacks."Trump's intervention helped ease fears that the weekend's escalation in Lebanon would lead to a broader re-escalation between the US and Iran. Still, uncertainty over the possible US-Iran deal persists, with growing doubts that the Strait of Hormuz will reopen soon," Deutsche Bank Research said.Back home, the Abu Dhabi Securities Exchange and Jordan's Amman Stock Exchange launched their electronic link through the Tabadul platform to enable cross-market trading through brokerage firms and offer expanded investment opportunities for investors in both countries.On the corporate front, stocks of Agility Global (ADX:AGILITY) closed the session 0.64% in the green as it purchased an industrial plot of land in Saudi Arabia for 700 million Saudi riyals.Dubai-listed Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, opened a command control center at its new headquarters in Dubai to manage operations and detect malfunctions across its plants and networks in the city. Its shares closed the session flat.

^DFMGI^FADGIADX:AGILITYDFM:EMPOWER

Asia Markets22d ago

US Equity Indexes Recover After Trump Claims Israel, Hezbollah Agreed to De-escalate Fighting in Lebanon

US equity indexes rose after President Donald Trump claimed Israel and Hezbollah agreed to dial back attacks on each other in Lebanon, and as technology topped sectors.The Nasdaq Composite climbed 0.4% to 27,086.81, with the S&P 500 up 0.3% to 7,599.96 on Monday. The Dow Jones Industrial Average turned the corner, trading up less than 0.1% to 51,078.88.Technology, which jumped more than 5% last week, and energy were the only gainers. Utilities, consumer discretionary, and communication services led the decliners.President Donald Trump spoke separately with Israeli Prime Minister Benjamin Netanyahu and Hezbollah representatives, multiple media reports cited the US president as saying. The president said Hezbollah had "agreed that all shooting will stop - That Israel will not attack them, and they will not attack Israel."The US informed Qatar that strikes threatened by Israel on Beirut's southern suburbs have been cancelled following a call between Trump and Netanyahu, a Qatari diplomatic source told Al Jazeera. Qatar had initiated contact with the US last Sunday to push for de-escalation, and since then, its officials have engaged in mediation efforts to reinforce the US-Iran ceasefire."The (Israel Defense Forces) will continue to operate in southern Lebanon as planned," CNN reported late Monday, citing Netanyahu as saying in a short statement. "There is no ceasefire in Lebanon," Defense Minister Israel Katz said Monday evening, according to CNN.Brent futures remained elevated, up 4.5% to $95.22. West Texas Intermediate futures were up 5.6% to $92.25. But, both crude oil types were off their respective session highs in the final leg of trading for the commodities.US Treasury yields were mixed after trading higher earlier in the session across the term structure. The 10-year yield was unchanged at 4.45%, retreating from over 4.5% intraday. The two-year rose 2.1 basis points to 4.04%, also off highs from earlier in the session.Gold futures were down 1.7% to $4,514.20, and silver futures declined 1% to $75.13, with both precious metals clawing back declines.In company news, Nvidia (NVDA) has launched RTX Spark, a new AI chip that will be used in Microsoft (MSFT) Windows laptops and desktops. Nvidia's shares jumped 6.3%, and Microsoft rose 2.3%, among the top gainers on the Dow.Salesforce (CRM) surged 9.7%, among the Dow and S&P 500's biggest outperformers, after the company said it will invest $2 billion in France through 2030 to expand its artificial intelligence and cloud operations.In economic news, the Institute for Supply Management's US manufacturing index rose to 54.0 in May, the highest since May 2022, from 52.7 in April, compared with expectations for a 53.0 reading in a Bloomberg-compiled poll.However, the S&P Global US manufacturing index for May was revised down to 55.1 from the flash 55.3, compared with expectations of no revision in a Bloomberg-compiled survey. The May index is above the 54.5 reading reported in April, indicating expansion.US construction spending rose by 0.4% in April, versus a 0.3% increase expected in a survey compiled by Bloomberg and following a downwardly revised 0.2% increase in March.

Dow JonesNasdaq CompositeS&P 500$CRM$MSFT$NVDA

Asia Markets22d ago

Exchange-Traded Funds, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM declined, while IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) rose 0.5%.US equity indexes traded mixed after Iran's reported threats to halt the indirect peace talks with Washington sent crude oil futures sharply higher, and as technology extended gains.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 2.2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 2.3% higher; iShares US Technology ETF (IYW) rose 1.8%, and iShares Expanded Tech Sector ETF (IGM) was up 1.9%.The State Street SPDR S&P Semiconductor (XSD) dropped 1.8%, and iShares Semiconductor (SOXX) edged up 0.7%.FinancialThe State Street Financial Select Sector SPDR (XLF) slipped 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) declined 1.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed up 1.6%.CommoditiesCrude oil rose 7.7%, and the United States Oil Fund (USO) added 6.1%. Natural gas dropped 2.6%, and the United States Natural Gas Fund (UNG) was down 2.8%.Gold on Comex fell 2%, and the State Street SPDR Gold Shares (GLD) was down 1.5%. Silver dipped 1.2%, and iShares Silver Trust (SLV) eased 0.8%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) lost 1.4%. The Vanguard Consumer Staples ETF (VDC) fell 1.4%, and iShares Dow Jones US Consumer Goods (IYK) was down 1.3%.The State Street Consumer Discretionary Select Sector SPDR (XLY) shed 2.1%. VanEck Retail ETF (RTH) fell 2%, and the State Street SPDR S&P Retail (XRT) eased 1.1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) lost 1.4%, iShares US Healthcare (IYH) fell 1.4%, and Vanguard Health Care ETF (VHT) was down 1.4%. IShares Biotechnology ETF (IBB) declined 1.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 0.6%. Vanguard Industrials Index Fund (VIS) fell 0.8%, while iShares US Industrials (IYJ) dipped 1%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 2.8%, ProShares Ether ETF (EETH) shed 2.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.8% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Asia Markets22d ago

US Equity Indexes Mixed, Crude Oil Surges Amid Reports Iran Halting Peace Process

US equity indexes traded mixed after Iran's reported threats to halt the indirect peace talks with Washington sent crude oil futures sharply higher, and as technology extended gains.The Nasdaq Composite climbed 0.2% to 27,019.1, with the S&P 500 up less than 0.1% to 7,581.9, while the Dow Jones Industrial Average was lower by 0.3% to 50,858.1 after midday on Monday.Energy and technology, which jumped more than 5% last week, were the only sectors in positive territory. Utilities, consumer discretionary, and communication services led the decliners.Iranian negotiators will stop exchanging messages with the US through intermediaries, and Tehran will fully close the Strait of Hormuz in retaliation against ongoing ceasefire violations, CNBC reported, citing Iran's state-affiliated news outlet Tasnim on Monday. The report, in a translated post on the social media site Telegram, homed in on Israel's military operations in Lebanon against the Iran-backed militia Hezbollah, CNBC reported."No dialogue will take place" until Israel fully withdraws from occupied areas in Lebanon and stops all attacks in both Lebanon and Gaza, Tasnim was cited as saying.Meanwhile, President Donald Trump, who last week received a framework for a peace agreement with Iran, sent back changes to the proposed deal, officials said, insisting on tougher language about Tehran's nuclear commitments and its pledge to reopen the Strait of Hormuz, CNN reported.Brent crude futures soared 6.6% to $97.12, and West Texas Intermediate crude oil futures surged 7.7% to $94.07. The rise follows US attacks on Iranian military sites, Tehran targeting a US military base, and Israel's advances in Lebanon, according to media reports.US Treasury yields rose, with the 10-year up 5.3 basis points to 4.51%. The two-year jumped 6.8 basis points to 4.08%.In precious metals, gold futures slumped 2.1% to $4,496.5, while silver futures dropped 1.3% to $74.97.In company news, Nvidia (NVDA) has launched RTX Spark, a new AI chip that will be used in Microsoft (MSFT) Windows laptops and desktops. Nvidia's shares jumped 5.1%, and Microsoft rose 2.6%, among the top gainers on the Dow.Salesforce (CRM) surged 9.6%, among the Dow and S&P 500's biggest outperformers, after the company said it will invest $2 billion in France through 2030 to expand its artificial intelligence and cloud operations.In economic news, the Institute for Supply Management's US manufacturing index rose to 54.0 in May from 52.7 in April, compared with expectations for a smaller increase to a 53.0 reading in a survey compiled by Bloomberg. The index indicates faster expansion, and the print is the highest since May 2022.However, the S&P Global US manufacturing index for May was revised down to 55.1 from the flash 55.3, compared with expectations of no revision in a Bloomberg-compiled survey. The May index is above the 54.5 reading reported in April, indicating expansion.US construction spending rose by 0.4% in April, versus a 0.3% increase expected in a survey compiled by Bloomberg and following a downwardly revised 0.2% increase in March.

Dow JonesNasdaq CompositeS&P 500$CRM$MSFT$NVDA

Asia Markets22d ago

Germany's DAX Falls Amid Latest Manufacturing Data, Escalating Middle East Conflict

German shares declined on the first day of the month, with the blue-chip DAX index down 0.40% on Monday's close, as investors assessed the country's manufacturing data and the latest news on the Middle East war.According to S&P Global, the final Germany manufacturing PMI slipped to a four-month low of 50.1 in May from the previous month's 51.4, but surpassed the flash estimate of 49.9. The final reading reflected the first drop in new orders for 2026 and the second straight month of softer output growth amid the conflict in the Middle East."The upturn in the manufacturing sector stalled in May, confirming the warning signs from recent PMI surveys that growth - being driven by the frontloading of orders - was likely to fade," S&P Global Market Intelligence economics associate director Phil Smith said. "The true underlying health of demand appears to be showing itself, with new orders falling for the first time this year amid still-elevated levels of uncertainty and soaring prices."For the wider eurozone, the final manufacturing PMI hit a two-month low of 51.6 in May, down from the previous 52.2 and up from the preliminary reading of 51.4, reflecting a slowdown in demand amid accelerating prices.In other local economic news, Destatis reported that German retail sales fell 0.3% on a monthly basis in April, against a revised 0.3% decline in the prior month and the expected 0.4% decrease. Annually, German retail prices were down 0.3%, compared with the revised 0.2% dip earlier.In geopolitical news, the US Central Command said it launched "self-defense strikes" on Iranian military sites over the weekend, while Iran responded by targeting an air base used by US forces. Bloomberg News reported, citing a statement carried by the semi-official Tasnim news agency, that Iranian negotiators will also halt talks with their US counterparts in protest of Israel's expanded ground assault in Lebanon.Back home and on the corporate side, Berenberg raised its price target for Siemens AG (SIE.F) to 320 euros from 245 euros, and kept its buy rating, noting that the German technology group is well-placed to benefit from long-term demand drivers and highlighted the upcoming Siemens Healthineers (SHL.F) separation as a key catalyst."Siemens benefits from powerful structural drivers across its core markets, with rapid growth in electrification and a gradual recovery in automation markets likely. ... We view Siemens' industrial software business as market leading and recent nervousness around AI disruption as overblown, with scope for AI to materially enhance key offerings. We also think that the future spin-off of Siemens Healthineers would be a positive catalyst for the shares," the research firm wrote in an electrical sector-focused note. Siemens AG gained 1.06% at closing, while Siemens Healthineers was down 1.89%.

^DAX$SHL.F$SIE.F

Asia Markets22d ago

Swiss Stocks Slump as New Development in US-Iran War Overshadows GDP Print

The Swiss Market Index started the week in the red, tumbling 1.75% on Monday's close, as reports of a new source of tensions between the US and Iran overshadowed the releases of the country's gross domestic product and retail sales.Iranian negotiators will suspend talks and the exchange of documents with their US counterparts in protest of Israeli aggression in Lebanon, Bloomberg News reported, citing a statement carried by the semi-official Tasnim news agency. The suspension follows a fresh exchange of fire between Tehran and Washington over the weekend, even as the two sides had been indirectly negotiating terms of a draft deal that would extend their ceasefire agreement by 60 days.Back home and in economic news, Switzerland's final gross domestic product, adjusted for sporting events, rose 0.4% in the first quarter, compared with the flash estimate of a 0.5% increase and the prior quarter's 0.2% rise. The State Secretariat for Economic Affairs attributed the growth to the industrial sector.Meanwhile, Swiss retail sales inched up 0.1% month over month in April, following a revised 0.3% gain in March, data from the Federal Statistical Office showed. In other economic news, the procure.ch-UBS manufacturing PMI climbed to 57.3 in May from 54.5 in April, surpassing the consensus estimate of 54.On the corporate front, Landis+Gyr Group (LAND.SW) confirmed its mid-term estimates through 2028, including a mid-single-digit revenue compound annual growth rate and adjusted EPS CAGR more than 5x the rate of revenue. The Swiss energy technology company was down 1.48%."With the introduction of our new business segments, we are well positioned to capitalize on significant growth opportunities across the evolving energy landscape. Supported by the strongest pipeline in our history and accelerating customer adoption of our technologies, we have built approximately $4 billion in backlog, providing exceptional revenue visibility and underpinning a durable, predictable growth model during this period of generational industry transformation," Chief Executive Officer Peter Mainz said in the company's Capital Markets Day 2026 release.

^SSMI$LAND.SW

Asia Markets22d ago

UK Shares Start Week Deep in Red as US-Iran Tensions Escalate

London's FTSE 100 closed 0.68% lower on Monday after the US and Iran exchanged fresh strikes over the weekend, while Britain's manufacturing activity accelerated to a four-year high on conflict-driven stockpiling.The US Central Command said it "conducted self-defense strikes" on Iranian radar and command and control sites in response to "aggressive Iranian actions," while Iran's Islamic Revolutionary Guard Corps said it launched a retaliatory attack against an air base used by US forces. Iranian negotiators also plan to suspend talks with their US counterparts in protest of Israeli aggression in Lebanon, Bloomberg News reported, citing a statement carried by the semi-official Tasnim news agency.Back home and on the economic front, the final S&P Global UK Manufacturing PMI stood at 53.9 in May, against the prior month's 53.7. The seventh consecutive growth came as production volumes expanded at the fastest rate in three months despite persistent headwinds, including rising prices and supply chain pressures."The sustainability of the upturn remains in doubt, however. The recent upturn in new order intakes that is driving the expansion in output is heavily reliant on both manufacturers and their clients front-loading purchases to mitigate expected war-related price increases and supply chain disruption. This bounce will fade once customers have built up sufficient safety stocks," S&P Global Market Intelligence director Rob Dobson said.Meanwhile, the annual growth rate of house prices in the UK slowed to 1.7% in May from 3% earlier, according to data from the Nationwide Building Society. The average price of houses was 278,024 pounds sterling, down from 278,880 pounds a month ago."Given the uncertainty caused by developments in the Middle East and the subsequent rise in energy prices and market interest rates, some loss of momentum was to be expected. Indeed, consumer confidence has weakened noticeably since the start of the conflict, with GfK's headline index falling to its lowest level since late‑2023 in April, with only a marginal increase in May," Nationwide Chief Economist Robert Gardner said."The housing market has not fallen off a cliff, but it is clearly looking over the edge," RBC Capital Markets said. "The good news, and there is some, is that the UK entered this shock in reasonable shape: household debt is at a two-decade low relative to income, the economy grew a healthy 0.6% in Q1, and mortgage rates, while rising, are still well below the 2023 peaks. We would not yet call this the beginning of a sustained downturn. UK house prices may have hit the brakes in May, but the engine has not yet stalled."In corporate news, easyJet (EZJ.L) signaled that its board will gauge a takeover offer from US-based Castlelake after the alternative investment firm disclosed that it is in the early stages of evaluating a potential bid for the British budget airline. The company, which is yet to receive a buyout proposal from or hold any discussions with Castlelake, traded 10.03% higher at close.

FTSE 100$EZJ.L

Asia Markets22d ago

European Stocks Lower in Monday Trading as Middle East Fighting Reignites; EU, Euro Area Unemployment Unchanged in April

The European stock markets were lower in Monday trading while oil prices soared as fighting in the Middle East reignited after the US and Iran failed to agree on a peace treaty over the weekend.The Stoxx Europe dropped 1%, Germany's DAX fell 0.5%, the FTSE 100 lost 0.9%, France's CAC declined 0.8%, and the Swiss Market Index shed 1.7%.The euro area and European Union seasonally adjusted unemployment rate was 6.3% and 6.0% respectively in April, which was unchanged for both from March, according to Eurostat, the statistical office of the EU.And in corporate news, Ferrari is facing a backlash in Italy over the design of its new Luce, a fully electric vehicle which breaks away from the sports car's traditional look, the Financial Times reported Saturday.The report cited Transport Minister Matteo Salvini, former company executives, and online influencers critical of the 550,000 euro ($641,000) car, which was designed in collaboration with a former Apple design chief over five years. Criticism has been directed at Ferrari Chair John Elkann, the report said.Ferrari did not immediately reply to' request for comment.Shares of the Italian luxury sportscar maker gained 0.8% in Milan.BP is selling a 5% stake in the Browse liquefied natural gas project in Western Australia to GS Energy, leaving it with a 39.33% interest in the project, news outlets reported Monday. Financial details of the transaction were not disclosed.The sale is part of BP's portfolio management strategy of onboarding a partner to advance the project, the reports said, citing an emailed statement from BP. The project is expected to cost 48.7 billion Australian dollars ($34.97 billion) according to the reports.BP and GS Energy did not immediately respond to' requests for comments.Shares of BP rose 3.2% in London.Astrazeneca said Monday that Imfinzi, in combination with Imjudo, lenvatinib, and transarterial chemoembolization, or TACE, demonstrated meaningful improvement in progression-free survival versus TACE alone for patients with embolization-eligible unresectable liver cancer.The Emerald-3 phase 3 trial results showed that the Single Tremelimumab-actl Regular Interval Durvalumab or STRIDE regimen combined with lenvatinib and TACE demonstrated a 30% reduction in the risk of disease progression or death versus TACE alone, the company said.Shares of the British pharmaceutical company dropped nearly 3% in London.

Asia Markets22d ago

European Equities Traded in the US as American Depositary Receipts Decline in Monday Trading

European equities traded in the US as American depositary receipts started the trading week lower late Monday morning, declining 0.2% to 1,867.7 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by software firm SAP (SAP) and petroleum refiner Equinor (EQNR), which advanced 7.2% and 5.6% respectively. They were followed by accommodations booking site trivago (TRVG) and telecommunications company Nokia (NOK), which increased 5.2% and 4.8% respectively.The decliners from continental Europe were led by semiconductor company Sequans Communications (SQNS) and biotech firm Evaxion (EVAX), which dropped 7.2% and 4.8% respectively. They were followed by biotech firm BioNTech (BNTX) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which fell 4.3% and 2.5% respectively.The gainers from the UK were led by software company Endava (DAVA) and oil and gas company BP (BP), which rose 5.9% and 3.6% respectively. They were followed by oil and gas company Shell (SHEL) and communications company WPP (WPP), which were up 2.2% and 0.9% respectively.The decliners from the UK and Ireland were led by biopharmaceutical companies Akari Therapeutics (AKTX) and Mereo BioPharma Group (MREO), which lost 13.4% and 9.5% respectively. They were followed by biopharmaceutical company NuCana (NCNA) and pharmaceutical company Silence Therapeutics (SLN), which were down 7.7% and 4.4% respectively.

$AKTX$BBVA$BNTX$BP$DAVA$EQNR$EVAX$MREO$NCNA$NOK$SAP$SHEL$SLN$SQNS$TRVG$WPP

Asia Markets22d ago

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

Asian equities traded in the US as American depositary receipts opened the trading week sharply higher Monday morning, rising 1.19% to 2,889.22 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by electric vehicle maker NIO (NIO) and semiconductor company Himax Technologies (HIMX), which climbed 6.8% and 6.3% respectively. They were followed by fintech firm Qfin (QFIN) and entertainment streaming service Bilibili (BILI), which advanced 5.8% and 5.1% respectively.The decliners from North Asia were led by real estate management and digital security company Eason Technology (DXF) and mobile app developer Cheetah Mobile (CMCM), which shed 20% and 6.4% respectively. They were followed by solar panel maker JinkoSolar (JKS) and pharmaceutical company Takeda Pharmaceutical (TAK), which dropped 5.4% and 4.2% respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and IT firm Infosys (INFY), which rose 5.3% and 2.5% respectively. They were followed by telecommunications operators Telekomunikasi Indonesia (TLK) and PLDT (PHI), which were up 0.4% and 0.1% respectively.The decliners from South Asia were led by computer hardware maker Canaan (CAN) and IT firm Sify Technologies (SIFY), which fell 3.8% and 2.9% respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and lender ICICI Bank (IBN), which were down 2.1% and 1.3% respectively.

$BILI$CAN$CMCM$DXF$HIMX$IBN$INFY$JKS$NIO$PHI$QFIN$RDY$SE$SIFY$TAK$TLK

Asia Markets22d ago

US Equity Futures Rise Pre-Bell Despite Renewed US-Iran Clashes

US equity futures were edging higher pre-bell Monday despite the shaky Middle East ceasefire being tested once again by a new exchange of attacks, even as President Donald Trump stated that Iran wants to come to an agreement.Dow Jones Industrial Average futures were 0.21% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher.The US said that it struck radar and drone sites in Iran after an American drone was shot down over the weekend. Iran then said it launched its own strike, while Kuwait reported that it intercepted incoming drone and missile fire."Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us," Trump said in a post on Truth Social. He has not yet decided on whether to move forward on an agreement to extend the ceasefire and reopen the Strait of Hormuz.Among the companies reporting financial results this week are Palo Alto Networks (PANW), Broadcom (AVGO), and CrowdStrike (CRWD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.3% at $93.24 per barrel and US West Texas Intermediate crude 2.9% higher at $89.92 per barrel.The final S&P Global manufacturing purchasing managers index for May, due at 9:45 am ET, is seen coming in at 55.3, unchanged from its prior value, according to estimates compiled by Bloomberg.The May Institute for Supply Management's services index, due at 10 am ET, is projected at 53.0, versus 52.7 previously. The April construction spending report is also due at 10 am ET.In other world markets, Japan's Nikkei closed 0.9% higher, Hong Kong's Hang Seng ended 0.9% higher, and China's Shanghai Composite finished 0.3% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.6% higher in Europe's early afternoon session.In equities, Nvidia (NVDA) and Microsoft (MSFT) shares were up 2.4% and 3.6%, respectively, after Nvidia said it launched RTX Spark, a new chip for Microsoft Windows PC personal AI agents. Dell Technologies (DELL) stock was up 1.2% after the company said it launched its XPS 13 compact laptop. Salesforce (CRM) shares rose nearly 5% after the company said it plans to invest $2 billion in France through 2030 and expand its AI and cloud operations.On the losing side, Toyota Motor (TM) stock was down 3% after a Wall Street Journal report that the Trump administration is expected to propose a tweak to the US-Mexico-Canada Agreement that would require half of all automobile components and materials to come from sources in the US. Constellation Energy (CEG) stock was down 2.7% after the company said certain shareholders launched a public offering of 11 million of its common shares.

Dow JonesNasdaq CompositeS&P 500$AVGO$CEG$CRM$CRWD$DELL$MSFT$NVDA$PANW$TM

Asia Markets22d ago

Tadawul Shares Decline on Monday as Geopolitical Tensions Flare

Saudi Exchange-traded shares started June lower as the geopolitical developments between the US and Iran pushed the Tadawul All Share Index 0.62% in the red on Monday.The US and Iran traded strikes on each other's military targets. The US reportedly attacked the Middle Eastern country's drones, air defenses, and ground control station. Meanwhile, Iran struck a US military air base as a retaliatory attack.Also dampening sentiment is Israel's military action in Beirut, Lebanon. Israeli Prime Minister Benjamin Netanyahu said that the order was done to defend Israel from Hezbollah attacks."For now, it seems Mr Trump is still deciding on whether the current negotiations between the two nations satisfy his demands. He has been surprisingly quiet over the weekend which indicates things perhaps coming close to a head. Meanwhile Israel and Hezbollah are trading attacks again which complicates matters even if fresh ceasefire proposals are being worked on. We could have said this a week ago, but it really feels like the next few hours and days will be critical," Deutsche Bank Research said in a note.Data from the Saudi Central Bank showed that the country's April M3 money supply rose 10% year over year, following a 8.2% growth in March. Meanwhile, private bank lending grew 7.2% in the reporting month, compared with the 7.4% increase in the prior month.On the corporate front, Ladun Investment (SASE:9535) shares ticked up 1.74% as it plans to form a closed-ended private real estate investment fund with Al-Ayuni Investment and Contracting Co. for the Khalidiyah informal settlement redevelopment project in Makkah.

^TASISASE:9535

Asia Markets22d ago

UAE Stocks Return to Trading After Eid Holidays; Oil Prices Rise Over US-Iran Deal Uncertainty

Markets in the United Arab Emirates ended the first trading day back from the Eid holidays on both sides of the spectrum as investors remained cautious amid uncertainty surrounding a peace deal between the US and Iran.At the close of Monday trading, the FTSE ADX General Index lost 0.53%, while the DFM General Index was up 0.303%.Oil prices climbed on Monday after Iran's Islamic Revolutionary Guard Corps targeted an unnamed air base used by the US for an attack on southern Iran. The attacks follow the US Central Command's "self-defense" strikes over the weekend on Iranian air defenses, a ground control station, and two drones that posed threats to ships moving through regional waters."We've never felt closer to a deal but potentially never felt closer to it all falling apart with isolated strikes becoming more frequent including some again over the weekend. It's hard to imagine remaining in limbo for much longer given that if the Strait of Hormuz remains closed into mid-summer it will at some point likely lead to a non-linear tipping point of economic stress," Deutsche Bank Research said. "For now, it seems Mr Trump is still deciding on whether the current negotiations between the two nations satisfy his demands. He has been surprisingly quiet over the weekend which indicates things perhaps coming close to a head."As of 3:40 pm UAE time, the Brent crude oil futures stood at nearly $93.578 per barrel, up 2.70% from the previous day.Back home and on the corporate side, Emirates Telecommunications Group Co. (ADX:EAND), d/b/a e&, agreed to divest its 12.50% stake in Careem Technologies to Uber Technologies for $100 million. Shares of the telecommunications company closed the session 0.11% lower.Elsewhere, Dubai Taxi (DFM:DTC) partnered with AJ Industries to expand its mobility services and explore new business models in Ajman. The taxi services company's stocks ended the session flat.

^DFMGI^FADGIADX:EANDDFM:DTC

Asia Markets22d ago

Indian Equities Fall as Selling in Financials, Autos Weigh on Sentiment

Indian benchmark indices closed sharply lower on Monday as selling pressure in financial and automobile stocks weighed on sentiment.The BSE Sensex fell 508.40 points, or 0.7%, to close at 74,267.34, while the NSE Nifty 50 declined 165.15 points, or also 0.7%, to settle at 23,382.60.Market sentiment remained under pressure amid weak global cues and continued foreign portfolio investor outflows. Elevated crude oil prices and the absence of a breakthrough in the Middle East conflict also kept investors cautious.On the economic front, India's manufacturing sector expanded at a faster pace in May. The HSBC India Manufacturing Purchasing Managers' Index rose to 55.0 from 54.7 in April, supported by stronger growth in output, new orders, and purchasing activity.Among corporate developments, Mahindra & Mahindra (NSE:M&M, BOM:500520) reported a 20% year-on-year increase in total vehicle sales for May to 99,636 units. Passenger vehicle sales rose 11% to 58,021 units, while exports climbed 37% to 5,000 units.Bajaj Auto (NSE:BAJAJ-AUTO, BOM:532977) said total sales increased 20% year on year to 461,257 units in May. Domestic sales rose 10% to 248,031 units, while exports advanced 34% to 213,226 units.

^BSENifty 50BOM:500520BOM:532977NSE:BAJAJ-AUTONSE:M&M

Asia Markets22d ago

US Equity Investors to Focus on Labor Market Data and Trump's Decision on Framework to End Iran War This Week

US equity investors will focus this week on the labor market data while keeping an eye on another mega-cap chipmaker's quarterly earnings and President Donald Trump's decision on a framework to end the Iran war.* The Bureau of Labor Statistics will release nonfarm payrolls on Friday, with the market forecasting an expansion of 95,000, according to data compiled by Bloomberg. Payrolls increased 115,000 in April, surpassing the 65,000 gain expected, and marking the first back-to-back months of positive job creation since May 2025, according to a note from Stifel. Payrolls increased 178,000 in March, above the 65,000 jump expected and marking the largest monthly gain since December 2024, the note said.* Other macroeconomic data due this week includes the ISM manufacturing and services purchasing manager's indexes, JOLTS job openings, ADP nonfarm employment change, and initial jobless claims.* Quarterly earnings on the tap this week include Broadcom (AVGO), Hewlett Packard Enterprise (HPE), Palo Alto Networks (PANW), Dollar General (DG), CrowdStrike (CRWD), and Planet Labs (PL).* The US said it struck Iranian military sites at the weekend and Iran's Revolutionary Guards said on Monday it had targeted a U.S. base in response, Reuters reported early Monday. The weekend US strikes on Iran's Gulf coast were in response to "aggressive Iranian actions that included the shootdown of a US MQ-1 drone that was operating over international waters," the US Central Command said in a post on X.* Meanwhile, Israeli forces have captured a strategically important fortress, marking the country's deepest incursion into Lebanon in more than a quarter of a century, SKY News reported early Monday.* Early Monday, Brent crude futures jumped 3.7% to $94.53, and West Texas Intermediate crude oil futures surged 4.3% to $91.09. US Treasury yields rose, with the 10-year up 1.8 basis points to 4.47% and the two-year higher by 2.6 basis points to 4.04%.

Dow JonesNasdaq CompositeS&P 500$AVGO$CRWD$DG$HPE$PANW$PL

Asia Markets23d ago

Tadawul Shares Close Higher After Week-long Eid Holidays; Senaat Unit Plans Main Market Listing

The Tadawul All Share Index closed 0.29% in the green on Sunday as investors assessed a potential new listing, among other corporate announcements.Saudi Industrial Development Co. (SASE:2130), d/b/a SIDC, gained the most at 9.98% during the session, which resumed after a week-long hiatus for Eid.Gulf Insulation Group, a unit of Advanced Building Industries (SASE:2240), d/b/a Senaat, filed an application with the Saudi Exchange to list its shares on the main market, sending the Saudi builder's stock up 2.49% at closing.Arabian Pipes Co. (SASE:2200) entered into a 62 million-Saudi-riyal contract with Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to produce and deliver steel pipes to the oil giant for 10 months. The steel tube manufacturer's shares rose 2.32%, while Aramco's shares fell 1.29%.In broader news, Saudi Arabia may reduce oil prices for Asian buyers again in July as the potential for a US-Iran deal to end the war and reopen the Strait of Hormuz weakens demand, Reuters reported, citing a survey of unidentified industry sources. The July official selling price for flagship Arab Light crude could decline to a premium of $7.50 to $12.50 per barrel above the average Dubai and Oman quotes, $3 to $8 a barrel below the June OSP.At the same time, US Defense Secretary Pete Hegseth said on May 30 that the administration is prepared to resume attacks on Iran if Washington and Tehran can not enter an agreement. At the Asian forum for defense leaders Shangri-La Dialogue, Hegseth added the US is "more than capable," with stockpiles "both there and around the globe.""The Middle East has been subject to heightened uncertainty and disruption since end-February, due largely to the Iran war," Fitch Ratings said. "There have been no Middle East issuer downgrades since end-February, but Fitch has placed several ratings on Rating Watch Negative and revised some Outlooks to Negative from Stable, or to Stable from Positive. These actions point to the persistence of significant risks around the war that, if crystallised, could lead to broader rating downgrades."

^TASISASE:2130SASE:2200SASE:2222SASE:2240

Asia Markets25d ago

US Equity Indexes Break Records This Week as Mega-Cap Tech Soars, Trump Close to Announcing Decision on Iran

US equity indexes jumped this week as technology topped sector charts amid expectations that the imminent Iran peace deal will reopen the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.* The S&P 500 closed at 7,580.06 on Friday versus 7,491.50 a week ago. The Nasdaq Composite stood at about 26,972.62, compared with 26,443.15 a week earlier. The Dow Jones Industrial Average ended at 51,032.46, versus 49,677.17 at the end of last week.* Technology was up 5.4% while energy slumped 5.1% this week.* Micron Technology's (MU) market capitalization crossed $1 trillion for the first time amid soaring demand for memory as artificial intelligence-related growth across the corporate landscape explodes. Its shares soared 27% this week.* Dell Technologies (DELL) reported fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year. Shares surged 66% this week.* US President Donald Trump said he is holding a meeting in the White House Situation Room to make a "final determination" after Washington and Tehran reached a tentative agreement this week to open the Strait of Hormuz and start nuclear talks, CNN reported late Friday.* Core personal consumption expenditures, or PCE, price index, the Federal Reserve's preferred inflation gauge, grew by less than forecast in April, month over month. Annually, the Core PCE growth was in line with expectations.* The 30-year Treasury yield stood at around 4.98% late Friday, extending its declines this week from mid-May when it touched the highest level since 2007.* West Texas Intermediate crude oil futures dropped 1.1% to $87.97 a barrel late Friday, continuing its retreat from around $108 in mid-May.

Dow JonesNasdaq CompositeS&P 500$DELL$MU

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Asia Markets22d ago

US Equity Indexes Recover After Trump Claims Israel, Hezbollah Agreed to De-escalate Fighting in Lebanon

Dow JonesNasdaq CompositeS&P 500$CRM$MSFT$NVDA