Doncasters Raises $919 Million in NYSE IPO as Aerospace Growth Accelerates 
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence 
Samsung, SK Hynix to Unveil Record AI and Semiconductor Investment Plans Worth Over $646 Billion 
Apple Supplier Stocks Slide as Samsung, SK Hynix Lead Selloff After Apple Price Hikes 
Johns Hopkins University Lays Off 110 Employees as Federal Research Funding Declines 
Tesla and NatPower Partner on $5 Billion Battery Storage Expansion in Europe 
Nomura Stock Upgraded to Buy by BofA as Stronger ROE and Earnings Growth Boost Outlook 
Alphabet Replaces Verizon in Dow Jones Industrial Average 
OpenAI IPO Delay Weighs on SoftBank Shares as AI Valuation Concerns Grow 
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
Samsung and SK Hynix Shares Jump After Micron Earnings Boost AI Chip Optimism 
FedEx Stock Drops After Weak 2026 Earnings Forecast Despite Strong Q4 Results 
Micron Stock Surges on Strong AI Demand, Record Revenue, and Bullish Q4 Forecast 
Pelosi Discloses Major Intel and Uber Call Option Purchases Worth Up to $6 Million 
Meta Reportedly Developing ‘Arena’ Prediction Market App to Rival Polymarket and Kalshi 
Fortescue Faces Class Action Over Sexual Harassment Claims at Australian Mining Sites 
SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom 
Hong Kong stocks witnessed a second consecutive day of decline as traders exercised caution following a three-week rally.
The market awaits signs of stronger corporate earnings from prominent companies such as Baidu, NetEase, and Li Auto this week to sustain the recent rebound driven by China's intervention in the market.
Market Performance and Key Players
During the noon break, the Hang Seng Index fell by 0.7% to reach 16,609.11, extending its retreat from a seven-week high. Concurrently, the Hang Seng Tech Index slipped by 0.4%, while the Shanghai Composite Index experienced a decline of 0.6%.
Major players in the market faced fluctuations, with Alibaba Group slipping by 0.9% to HK$73.85 and Tencent losing 1.6% to HK$286.20. Baidu witnessed a decline of 2.4% to HK$107.30, while online game operator NetEase retreated by 1.7% to HK$166.60. In contrast, electric vehicle maker Li Auto mitigated losses by adding 0.4% to HK$139.60. The company's upcoming earnings report, expected on Monday, may reveal a tripling of earnings from the previous year. Similarly, peer company BYD rallied by 1.9% to HK$188.80.
Corporate Earnings Outlook and Market Analysis
Baidu, NetEase, and Hong Kong Exchanges and Clearing (HKEX) are scheduled to release earnings reports this week. Forecasts suggest that Baidu's fourth-quarter earnings may have declined by 3.2%, while NetEase's earnings are anticipated to rise by 79%, according to analysts' consensus estimates tracked by Bloomberg. On the other hand, HKEX's earnings are expected to have fallen by 8%.
Goldman Sachs highlights a downside risk to the consensus projections for corporate earnings of Chinese companies, citing a series of negative profit alerts.
According to the South China Morning Post, despite a disappointing first half, Asia-Pacific companies are expected to post high-teens profit growth in the fourth quarter, with Japan and India leading the uptick. Consensus forecasts indicate a profit growth of 15% for regional companies this year, with Chinese firms anticipated to achieve a growth rate of 14%.
According to Al Jazeera, traders will closely monitor China's annual legislative meeting, the National People's Congress, scheduled to commence on March 5. This gathering will significantly evaluate and determine the nation's annual growth target, fiscal deficit, and economic policies.
In neighboring Asian markets, Japan's Nikkei 225 climbed 0.6% to achieve a record high for the second consecutive day, while Australia's S&P/ASX 200 remained relatively unchanged, and South Korea's Kospi experienced a decline of 0.8%.
Photo: Cheung Yin/Unsplash
