Asian equities had a mixed performance overnight, with the Philippines leading the way. Despite geopolitical challenges, Hong Kong saw growth in stocks as a busy week for Q1 financial results began.
The Hang Seng index gained 0.8%, closing above 19,000, while the Hang Seng Tech Index rose 1.42%, closing above 4,000. Key stocks like Tencent and Alibaba saw gains ahead of their upcoming earnings reports.
Alibaba is expected to see growth in China’s E-Commerce revenue, while Tencent is anticipated to show an increase in adjusted net income and EPS. Internet stocks in Hong Kong performed well, with Tencent Music Entertainment and Huya exceeding revenue expectations.
In Mainland China, EV battery maker CATL faced a decline due to news of tariffs, while LONGi Green Energy saw gains. Economic data revealed an increase in consumer price index and a decrease in the producer price index, highlighting the need for policy support for demand.
The Hang Seng and Hang Seng Tech indexes saw gains, while Shanghai, Shenzhen, and the STAR Board experienced declines. The top-performing sectors were Industrials and Consumer Discretionary, while Energy and Real Estate fell.
A webinar on AI in emerging markets and an article on China’s stock market rally were announced. Exchange rates, prices, and yields showed slight fluctuations.
Overall, the market reflected a mix of positive and negative trends, with investors keeping a close eye on earnings reports and economic indicators.