News
Important Only
Trump tariffs spark Australian market mayhem
ASX 200 posts biggest drop in 5 monthsMiners hit lowest since Jan. 10Updates to closeBy Rajasik Mukherjee and Kumar Tanishk Feb 3 (Reuters) - Australian equities suffered their worst day in five months on Monday, caught up in the global stocks sell-off as U.S. President Donald Trump's tariffs...Reuters
Mon, Feb 3
GLOBAL MARKETS-Stocks slump, dollar soars as Trump tariffs trigger trade war fears
Updates prices ahead of European markets openAsian stocks, U.S. and European futures drop as Canada, Mexico retaliateTrump slaps 25% tariffs on Canada, Mexico; 10% levy on ChinaUS dollar hits record high vs yuanMexican peso, Canadian dollar tumbleHang Seng drops 1% on return from holiday; mainland m...Reuters
Mon, Feb 3
Rand slumps after Trump says he will cut funding for South Africa
JOHANNESBURG, Feb 3 (Reuters) - The rand slumped in early trade on Monday, after U.S. President Donald Trump said he would cut off funding for South Africa.Trump said on Sunday, without citing evidence, that "certain classes of people" in South Africa were being treated "very badly" ...Reuters
Mon, Feb 3
Taiwan to help companies relocate to US following Trump tariffs
Taiwan tech stocks fall after U.S. tariffs announcementTaiwan to help companies wishing to invest in U.S.Taiwan president pledges policy support at homeUpdates stock price movements to close, paragraphs 8, 9 adds comments from Taiwan president, paragraphs 11, 12,TAIPEI, Feb 3 (Reuters) - Taiwan will...Reuters
Mon, Feb 3
Australian mining stocks drop as Trump tariffs on China unsettle markets
By John Biju and Nichiket Sunil Feb 3 (Reuters) - Australian mining stocks .AXMM tumbled on Monday after U.S. President Donald Trump slapped tariffs on China, the country's top trading partner, straining commodity prices and raising concerns over the demand outlook of domestic miners.The min...Reuters
Mon, Feb 3
BUZZ-Jefferies upgrades Whirlpool India to 'hold' after sharp fall, budget tax relief
** Whirlpool of India WHIR.NS up 3.7% at 1219.95 rupees** Jefferies raises to 'hold' from 'underperform', saying budget's income tax cuts is positive for consumer durables demand** Says WHIR's valuation is better after sharp ~35% slide as parent Whirlpool WHR.N cuts stake; ad...Reuters
Mon, Feb 3
MORNING BID EUROPE-Trump tariff reality unnerves markets
A look at the day ahead in European and global markets from Kevin BucklandWhatever investors expected from Donald Trump's tariff threats, or from the target countries' responses, they may have ended up with more than they bargained for.Equity indexes met with aggressive selling in Asia and l...Reuters
Mon, Feb 3
Offshore Chinese stocks, yuan fall after US tariffs; stimulus in focus
Update prices, add quotes HONG KONG, Feb 3 (Reuters) - Chinese stocks listed in Hong Kong and the offshore yuan skidded early on Monday as markets reopened after the Lunar New Year to U.S. President Donald Trump's new tariffs, but expectations of increased domestic policy support helped pare ...Reuters
Mon, Feb 3
Asia automakers lead the decline as region takes a beating from Trump tariffs
Asian car makers hit by US tariffs on Mexico, Canada, ChinaJapanese, South Korean automakers face export challenges due to tariffsMexico, Canada plan retaliatory tariffs; impact on global growth expected Feb 3 (Reuters) - Shares of Japanese and South Korean car makers and their suppliers led decl...Reuters
Mon, Feb 3
EMERGING MARKETS-Trump tariffs rattle emerging assets from Mexico City to Bangkok
Mexican peso, Canadian dollar at multi-year lowsChinese offshore yuan at record lowTSMC slumps 6.6%By Rishav Chatterjee Feb 3 (Reuters) - Major Asian currencies slumped on Monday with the Malaysian ringgit and Thai baht leading losses, as trade war fears weighed on sentiment after U.S. President ...Reuters
Mon, Feb 3
EMERGING MARKETS-Trump tariffs rattle emerging assets from Mexico City to Bangkok
Mexican peso, Canadian dollar at multi-year lowsChinese offshore yuan at record lowTSMC slumps 6.6%By Rishav Chatterjee Feb 3 (Reuters) - Major Asian currencies slumped on Monday with the Malaysian ringgit and Thai baht leading losses, as trade war fears weighed on sentiment after U.S. President ...Reuters
Mon, Feb 3
BUZZ-HK-listed chip manufacturer SMIC jumps; Morningstar bullish 'over long term'
** Shares of China's top chip manufacturer Semiconductor Manufacturing International Corp (SMIC) 0981.HK jump 8.4% to HK$41.20** Stock top pct gainer in both Hang Seng Index .HSI and Hang Seng Tech Index .HSTECH, which are down 1.5% and 2% respectively following U.S. President Donald Trump impos...Reuters
Mon, Feb 3
BUZZ-Australia's Astral Resources tumbles on bid to acquire Maximus Resources
** Shares of Astral Resources AAR.AX fall 5% to A$0.1425** Stock posts its worst intraday drop since Jan 28** The miner says it bids to acquire all remaining shares of peer Maximus Resources MXR.AX at an offer price of A$0.073/share valuing co at A$31 mln ($18.88 mln)** Offer price represents a prem...Reuters
Mon, Feb 3
Japanese shares tumble as US tariffs cloud global economic outlook; automakers skid
Updates with mid-day closing prices TOKYO, Feb 3 (Reuters) - Japanese shares fell more than 2% on Monday, with automakers leading the decline, as concerns over the global economy mounted following U.S. President Donald Trump's tariffs on Canada, Mexico, and China. The Nikkei .N225 was down...Reuters
Mon, Feb 3
BUZZ-Resmed's Australia shares fall; Macquarie hikes PT
** Healthcare technology co Resmed's Australia-listed shares RMD.AX fall 2.7% to A$39.105, on track for worst session since Oct. 29, 2024 - if current losses hold** Stock tracks a sell-off in broader market .AXJO, which is down 1.7% .AX** Meanwhile, Macquarie hikes PT to A$45.10 from A$41.10, si...Reuters
Mon, Feb 3
GLOBAL MARKETS-Stocks slump, dollar soars as Trump tariffs trigger trade war fear
Updates with Hong Kong market openAsia Pacific stocks, US futures fall as Canada, Mexico threaten to retaliateTrump slaps 25% tariffs on Canada, Mexico; 10% levy on ChinaUS dollar hits record high vs yuan; peso, Canadian dollar tumbleHang Seng drops 1% on return from holiday; mainland markets shut B...Reuters
Mon, Feb 3
INDIA STOCKS-India's benchmark indexes set to track Asian peers lower on trade fears
Feb 3 (Reuters) - India's benchmark indexes are expected to open lower on Monday, likely following the trend of Asian peers, after U.S. President Donald Trump's tariffs on Canada, Mexico and China spurred concerns of a broad trade war.The GIFT Nifty futures GIFc1 were trading at 23,366.5, as...Reuters
Mon, Feb 3
Japanese shares tumble as US tariffs cloud global economic outlook; automakers skid
Updates with comments TOKYO, Feb 3 (Reuters) - Japanese shares fell 2% on Monday, led by automakers, as worries grew about the global economy after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China.The Nikkei .N225 had declined 2.1% to 38,757.43 by 0127 GMT, while the broade...Reuters
Mon, Feb 3
Unveiling the 100-Billion Giant China Hongqiao: An Exceptional Value Pick Among Industry Peers
Recently, China Hongqiao (01378.HK) has ignited a new wave of market enthusiasm with its consecutive large-scale share buybacks.From January 15 to January 17, China Hongqiao conducted share buybacks for three consecutive trading days, spending a total of HKD 87.58 million to repurchase 7.59 million shares. This move immediately won enthusiastic responses from the market. China Hongqiao's stock price increased by more than 5 percentage points in two consecutive trading days, with investors casting their votes through turnover which exceeded HKD 1 billion.China Hongqiao, a leading electrolytic aluminum company with a market value exceeding HKD 120 billion, which initiated this new round of share buybacks, has sent a strong signal to the market that the company's value is significantly underestimated by the market.From market feedback, the company's buyback action has become a new engine for its valuation improvement.Buybacks Demonstrate Confidence, Catalyzing New Momentum for Valuation GrowthChina Hongqiao has already clarified in its announcement regarding the reason behind this round of buybacks: The current stock price deviates from the company's value, and further share buybacks may be considered depending on market conditions. According to the share buyback authorization resolution, China Hongqiao can repurchase up to 948 million shares. It can be boldly predicted that the company will continue to conduct share buybacks in the future.Regarding the purpose of the share buybacks, China Hongqiao clearly stated that the action is for cancellation. While listed companies' share buyback purposes include equity incentives, future resale and cancellation, among which cancellation is seen to be the most direct and beneficial method for all shareholders.When a listed company cancels its repurchased shares, the number of floating shares in the market decreases while the value remains the same. This means the value per-share of the listed company will increase significantly.From a market demand and supply perspective, a reduction in a listed company's share count indicates a decrease in market supply. While demand remains constant, conditions for stock price appreciation are created .It can be said that buybacks are not only a valuation enhancement measure taken by listed companies when they believe their stocks are undervalued, but it’s also a means for listed companies to return capital to shareholders and reward them for holding the shares. Therefore, many large listed companies with outstanding performances frequently conduct large-scale share buybacks throughout the year.For example, the champion of the 2024 Hong Kong sharebuybacks - Tencent Holdings (00700.HK). has bought back 307 million shares throughout the year, with a total amount of HKD 112 billion according to the public information from the Hong Kong Stock Exchange, as of December 31,Driven by the continuous buybacks, Tencent's total share capital further decreased to 9.22 billion, reaching its lowest level in ten years, while its earnings per share continued to rise, with growth rates exceeding its revenue and operating profit.Therefore, buybacks are always seen to be beneficial for both the company and the investors. China Hongqiao's recent actions of buybacks and upcoming cancellations, in terms of short-term effects, not only reduce the number of shares circulating in the market which directly pushing up the stock price, but also convey to the market about the company's firm confidence in its future development. This demonstration of confidence, especially against the background of steady growth in company performance, has attracted more investor’s attention, thus adding strong momentum for further improving the company's valuation.Buybacks Support Asset Integration, Opening a New Chapter in Value ReassessmentMore profoundly, China Hongqiao's buyback actions are closely connected to its overall strategic deployment. The company optimizes resource allocation and enhances overall market competitiveness through buybacks coordinated with asset restructuring of its indirect subsidiary companies.Recently, China Hongqiao welcomed a historic positive development for valuation improvement. Hontron Holdings (a company listed on the Shenzhen Stock Exchange,stock code: 002379.SZ), an indirect subsidiary of China Hongqiao, proposed to acquire all equity of another indirect subsidiary, Hongtuo Industrial.Hongtuo Industrial is China Hongqiao's core asset in the aluminum products business, owning all aluminum alloy products, alumina products, and some aluminum alloy processing product production lines of China Hongqiao and its subsidiaries in mainland China.Hontron Holdings is an integrated aluminum plate, strip, and foil processing enterprise, mainly engaged in the development, production, and sales of high-precision aluminum plate, strip, and foil products, with main products including pharmaceutical foil, household foil, and container foil.From an industrial development perspective, Hontron Holdings operates as a downstream enterprise within the same industry as Hongtuo Industrial. After their restructuring, the upstream and downstream industry synergies will be further improved, and they can share their respective technology, production, and customer resources, with comprehensive competitiveness that will surpass other companies in the industry.Therefore, this asset restructuring initiative will not only bring enormous market opportunities to China Hongqiao but is also expected to further enhance the company's profitability and market position through asset integration and synergistic effects. Against this background, the buybacks not only demonstrate the company's determination for future development but also help improve the company's valuation level. Through asset integration, China Hongqiao will further enhance management efficiency and performance, thereby driving sustained valuation improvement in the long term, generating higher market expectations and confidence in China Hongqiao's future.Golden Opportunity in a Valuation Trough, A Leading Enterprise with Growth PotentialChina Hongqiao's combination of capital and industrial "one-two punch" demonstrates its strength as the leading electrolytic aluminum stock. China Hongqiao, as a high-quality target company which is rare in the capital market, is currently undervalued.As an industry leader, China Hongqiao's valuation is below the average level of Hong Kong-listed aluminum companies. Wind data shows that as of January 17's closing, the average P/E ratio of Hong Kong-listed aluminum companies was approximately 6.73 times, while China Hongqiao, even after a recent round of price increases, remains at a low P/E ratio of only about 6.04 times. Compared to its peers in the same tier, such as Chalco with a P/E ratio of 7.42 times, China Hongqiao appears to be underpriced.From this perspective, China Hongqiao demonstrates impressive strength, yet its valuation falls short of what a top-tier industry leader deserves., making it a clearly undervalued industry giant. Many third-party investment institutions have also taken notice, explicitly stating that China Hongqiao's valuation is at a low level within the industry.Recently, Bank of America's Global Research team set a target price of HKD 17.9 per share for China Hongqiao, showing significant upside potential compared to its January 17 closing price of HKD 12.68 per share.Since the second half of 2023, the aluminum industry has entered a cyclical upward trend, with continuous improvement in industry prosperity bringing opportunities for rapid growth in enterprise performance. China Hongqiao has demonstrated a more powerful development momentum compared to industry peers by deepening its upstream and downstream integrated layout.Tebon Securities issued a research report stating that on January 10, the State Council Information Office press conference again emphasized loose and proactive fiscal policy, expecting electrolytic aluminum demand to potentially increase under continued domestic stimulus. Based on the current cost curve, to meet the projected 2025 electrolytic aluminum demand, the aluminum price should reach at least RMB 22,065.5 per ton.On January 7, the price of electrolytic aluminum was RMB 19,660 per ton. Tebon Securities judges that future electrolytic aluminum prices and profits may increase, with profit margins potentially rising by approximately RMB 2,406 per ton, recommending investment in leading industries such as China Hongqiao.Under the catalysis of a series of major positive factors including strong performance, buybacks, and asset restructuring, China Hongqiao, currently in a value low point, is offering a golden opportunity. The market is expected to further recognize its value, paving the way for a return to fair valuation. 03/02/2025 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Mon, Feb 3
Is CrowdStrike Stock a Buy Now?
CrowdStrike Holdings (NASDAQ: CRWD) stock has made a remarkable recovery on the market in the past six months following a faulty software update on July 19 last year that caused a global IT outage and sent its shares plummeting.The outage hit millions of computers around the globe, affecting airline...The Motley Fool
Mon, Feb 3
