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Asian Shares Fall, Hong Kong Tech Rally Pulls Again: Markets Wrap

Asian Shares Fall, Hong Kong Tech Rally Pulls Again: Markets Wrap
February 20, 2025



(Bloomberg) — Equities fell throughout Asia as issues over a realignment of US geopolitical priorities weighed on possibility sentiment. The yen reinforced. Maximum Learn from Bloomberg A gauge of Asian stocks dropped 0.8%, whilst an index of Chinese language era stocks in Hong Kong slumped via greater than 2% after rallying to a three-year top. Treasuries edged upper in Asian buying and selling and gold held close to a report top. US President Donald Trump is expanding drive on Ukraine to succeed in a peace maintain Russia, elevating issues amongst Eu allies that he’ll stroll again years of beef up for the Japanese Eu country. He additionally added to uncertainty over his tariff plans via speaking a couple of doable 25% levy on lumber. “Markets are getting apprehensive in regards to the means that President Trump is taking in resolving the Russia-Ukraine struggle and fearing an unsightly flip right here,” mentioned Charu Chanana, the manager funding strategist at Saxo Markets. US fairness index futures declined. The yen hit its most powerful degree towards the buck since December on rising hypothesis the Financial institution of Japan will hike charges quicker relatively than later. The country will record inflation information on Friday. The conflict in Ukraine endured to dominate markets in Europe as officers within the area fume after being excluded from US-Russia talks in Saudi Arabia. In an escalation of drive, Trump known as Ukraine President Volodymyr Zelenskiy a “dictator” on Wednesday, and recommended him to transport temporarily for a deal. Bond buyers at the moment are ready on main points of doable new protection investment measures in Europe because the area debates the want to step up in mild of Trump’s pivot. Ultimate week, German Chancellor Olaf Scholz mentioned the Eu Union is robust sufficient to counter any US tariff threats however that he hopes for a negotiated settlement that may steer clear of a industry conflict. “We’re in an overly fractured international,” Ben Powell, leader APAC and Center East funding strategist at BlackRock Funding Institute, mentioned in a Bloomberg TV interview. Trump additionally mentioned it could be conceivable to succeed in a contemporary industry maintain China, signaling he’s open to keeping off a brewing industry battle between Washington and Beijing. The buck fell towards all of its Crew-of-10 friends whilst the yuan complicated. In Hong Kong, Alibaba Crew Maintaining Ltd. stocks declined up to 4.6% as buyers flip their focal point to the corporate’s income presentation Thursday after a DeepSeek-sparked rally added greater than $110 billion to its marketplace price. Meituan Inc. stocks dropped up to 6.9% after the e-commerce corporate disclosed plans to increase social safety coverage to extra employees. Tale Continues Chinese language era stocks have staged a bull run this yr, pushed via optimism over DeepSeek and President Xi Jinping’s assembly with main trade leaders together with Alibaba co-founder Jack Ma. That rally took a pause Thursday as some buyers perceived the features as overdone, despite the fact that the contemporary feedback from Trump a couple of China industry deal helped ease jitters. In the meantime, Fed mins Wednesday confirmed policymakers in January expressed a readiness to carry rates of interest stable amid cussed inflation and economic-policy uncertainty. Officers additionally published pausing or slowing the balance-sheet runoff — a procedure referred to as quantitative tightening, or QT, till the federal government’s debt-ceiling drama is resolved. In commodities, oil costs steadied Thursday after gaining within the prior consultation towards the backdrop of uncertainties about crude provides from Russia, Kazakhstan and OPEC+. One by one, Lenovo Crew Ltd.’s quarterly benefit beat projections, highlighting how AI infrastructure spending helps pull the worldwide PC marketplace out of a years-long funk. Web source of revenue greater than doubled to $692.7 million within the December quarter, in comparison with a median estimate of $365 million. Key occasions this week: Eurozone shopper self assurance, Thursday US preliminary jobless claims, Philadelphia Fed production index, Thursday Fed’s Austan Goolsbee and Alberto Musalem discuss, Thursday Eurozone HCOB production & services and products PMI, Friday US S&P World production & services and products PMI, present house gross sales, shopper sentiment, Friday One of the crucial primary strikes in markets: Shares S&P 500 futures fell 0.3% as of one:05 p.m. Tokyo time Japan’s Topix fell 1.6% Australia’s S&P/ASX 200 fell 1.4% Hong Kong’s Grasp Seng fell 1.4% The Shanghai Composite fell 0.2% Euro Stoxx 50 futures rose 0.1% Currencies The Bloomberg Buck Spot Index fell 0.1% The euro was once little modified at $1.0429 The Jap yen rose 0.7% to 150.45 in step with buck The offshore yuan rose 0.2% to 7.2699 in step with buck Cryptocurrencies Bitcoin rose 0.9% to $97,134.71 Ether rose 1.2% to $2,742.16 Bonds Commodities West Texas Intermediate crude fell 0.5% to $71.89 a barrel Spot gold rose 0.2% to $2,940.71 an oz This tale was once produced with the help of Bloomberg Automation. –With the aid of Richard Henderson, Abhishek Vishnoi and Divya Patil. Maximum Learn from Bloomberg Businessweek ©2025 Bloomberg L.P.

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