Tech stocks extended this week's decline after investors questioned valuations. The People's Bank of China held its one-year and five-year loan prime rates for the fourth successive month in February.
China's market indexes struggled after the five-week tech stocks rally ran out of steam. Home prices continued to slide in January, confirming that the four-year-long property market malaise is far from over. HSBC said 2024 earnings rose 2%.
Technology extended gains for the third week in a row and pushed the benchmark tech index in Hong Kong into the bull market territory. China's leaders reversed their confrontational stance with the private sector after the success of the artificial intelligence chatbot Deep Seek.
Japan's fourth quarter GDP expanded for the third consecutive quarter, driven by the sustained rise in government spending and an unexpected increase in private sector activities.
Japan's benchmark indexes halted a three-day rally, and trimmed weekly gains to 1%. Sony Group estimated strong revenue and profit in the fiscal 2024, driven by the strength in gaming console sales.
The Hang Seng Index extended weekly advance to 5% and rallied for the fifth consecutive week amid euphoria linked to artificial intelligence-linked stocks.
The weakening of the yen extended the rally in stock market indexes for the second day in a row. Trend Micro soared on takeover speculation, and Toray Industries advanced after releasing quarterly results.
Tech stocks continued to rally in Hong Kong and lifted the tech index to a high seen five months ago. Broader markets in China remained under pressure amid a lack of progress in implementing the previously announced stimulus measures.
Japan's benchmark indexes advanced after investors returned from a holiday. Fujikura and Softbank were in focus after financial results surpassed market expectations. The yen weakened after comments from BoJ Governor Ueda did not clarify the future interest rate trajectory.
Stock market indexes in Hong Kong extended gains after mainland-based funds stepped up purchases of tech stocks. Moreover, individual investors shifted assets to Hong Kong dollar-denominated stocks amid worries of sharp yuan devaluation.
Stock market indexes in Hong Kong eased from four-month highs as Chinese goods faced additional U.S. tariffs, pushing more companies in search of new markets in Asia and the rest of the world.
Tech stocks powered the market rally in China for the second consecutive week and in Hong Kong for the fifth consecutive week. China's consumer price inflation accelerated in January, but producer price deflation extended to the 28th consecutive week.
Japan's benchmark indexes trimmed weekly advance after indexes halted a three-day rally. Household spending expanded at the fastest pace in December, but in real terms fell for the second consecutive year in 2024.
