Latest news with #tech shares
Bloomberg
30-07-2025
- Business
- Bloomberg
Meta, Microsoft Shares Jump After Robust Earnings
Good morning. Record artificial intelligence spending isn't holding tech shares back. Job seekers are competing with AI platforms. And a full battery comes with fries at the Tesla Diner. Listen to the day's top stories. The Magnificent Seven is living up to its name. Meta shares surged more than 10% in late trading after the owner of Instagram and Facebook beat expectations for sales. A stronger-than-expected revenue forecast signaled its core advertising business is still growing quickly enough to support aggressive AI spending. Microsoft also jumped as sales from its Azure cloud-computing unit grew 39%, faster than analysts expected.
Yahoo
23-07-2025
- Business
- Yahoo
Chinese Stocks in Hong Kong Poised for Highest Close Since 2021
(Bloomberg) -- A key gauge of Chinese stocks traded in Hong Kong was on course for its highest close since November 2021, boosted by easing Sino-American trade tensions and gains in heavyweight tech shares. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US Why the Federal Reserve's Building Renovation Costs $2.5 Billion Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital The Hang Seng China Enterprises Index jumped as much as 1.8% on Wednesday, topping a previous year-to-date high hit on March 18. Baidu Inc. and Tencent Holdings Ltd. were among the top performers in the gauge. Hong Kong's benchmark Hang Seng Index advanced 1.6%. The move cements a rapid rebound following the April turmoil triggered by US President Donald Trump's tariff threats. Treasury Secretary Scott Bessent said he will meet his Chinese counterparts in Stockholm next week for discussion aimed at extending a tariff truce, suggesting a continued stabilization in ties after the US recently eased chip curbs and China resumed rare earths exports. Investors are also looking to the country's Politburo meeting later this month to set the tone for policy measures in the second half of the year. Markets have reacted positively to recent moves by Beijing to curb excessive price wars and overcapacity in some sectors, seeing them as a significant step toward tackling deflation. 'Geopolitical tensions between China and the US de-escalated notably not only for trade issues but also the technology disputes,' said Jason Chan, a senior investment strategist at Bank of East Asia. Trump saying he may meet President Xi Jinping in the near future has boosted optimism that trade talks between two nations are on the right track, he added. The Hang Seng China gauge has gained roughly 26% so far this year, beating the S&P 500's 7% advance and the MSCI Asia Pacific Index's 15% advance. HSCEI is trading at about 10 times its forward earnings estimates, below the Asian benchmark's ratio of nearly 15. On the mainland, the CSI 300 Index has climbed about 5% for the period. Despite a slew of positives, some analysts warn the rally may take a breather. Strategists at UBS said Hong Kong stocks will have limited upside for the rest of this year, citing potential earnings downgrades driven by intensifying competition in food delivery and other sectors. Wednesday's equity moves track broad gains across Asia, aided by Trump's announcement of a deal with Japan that puts levies at 15% — down from a threatened 25% tariff. MSCI's China Index, which includes both onshore and offshore stocks, gained nearly 2% on Wednesday, headed for its highest close since February 2022. Stocks in Hong Kong have been supported in 2025 by a surge in inflows from mainland investors. Southbound net inflows expanded by another HK$2.7 billion ($344 million) Tuesday, taking this year's total to HK$800 billion, a whisker away from 2024's previous record of HK$808 billion. 'The market had rallied to some degree but it's not expensive still compared to some other markets,' said Keiko Kondo, head of multi-asset investments for Asia at Schroder Investment Management. 'So from the valuation point, it doesn't stretch, therefore I think there is definitely room to go.' --With assistance from Zhu Lin. (Updates with analyst comment in fifth paragraph.) Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Burning Man Is Burning Through Cash A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
