HSI inches up as tech caution weighs on markets
The Hang Seng Index opened at 24,547, up 29 points. File photo: RTHK
Asian stocks dithered on Thursday ahead of earnings from heavyweight technology companies and as market anxiety lingered over the uncertain tenure of US Federal Reserve chief Jerome Powell.
In Hong Kong, the benchmark Hang Seng Index rose 29.32 points, or 0.12 percent, to open at 24,547.08.
On the mainland, the benchmark Shanghai Composite Index opened down 0.1 percent at 3,500.37 while the Shenzhen Component Index opened 0.02 percent lower at 10,718.85.
TSMC, the world's main producer of advanced AI chips, is expected to post a jump in second-quarter profit to record levels, though US tariffs could weigh on its outlook.
Profits for streaming giant Netflix, due later in the day, are also on investors' radar.
"With Netflix having outperformed the S&P 500 year-to-date by a sizeable 33 percentage points, and the street fully subscribed to the bullish investment case, Netflix will need to blow the lights out with a solid beat and raise," said Chris Weston, head of research at Pepperstone.
MSCI's broadest index of Asia-Pacific shares outside Japan was up just 0.06 percent and the Nikkei slipped 0.24 percent.
Canadian retailer Alimentation Couche-Tard said it was withdrawing its US$47 billion takeover bid for Seven & i Holdings, citing a lack of constructive engagement by the Japanese retailer.
Shares of Seven & i Holdings fell 9 percent. (Reuters/Xinhua)
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