Asian markets delivered mixed results Wednesday as Chinese tech companies staged a comeback while Wall Street grappled with persistent inflation fears. Hong Kong’s Hang Seng surged 3.4%, driven by double-digit gains for Meituan and Alibaba, signaling renewed confidence in Beijing’s pro-business pivot.
Beijing’s recent pledges to bolster the private sector ignited rallies in major players like Tencent (+3.4%) and Baidu (+3.7%). This rebound follows years of regulatory crackdowns that had dampened investor sentiment. “The U.S. economic backdrop is shifting sharply lower, a stark contrast to the euphoria that defined the start of ’25,” warned SPI Asset Management’s Stephen Innes in a
report highlighting growing global economic uncertainties.
Key regional movements included:
- Tokyo’s Nikkei 225 fell 0.8% as traders cashed in on Warren Buffett-linked stocks
- Seoul’s Kospi edged up 0.4% despite tech sector jitters
- Australia’s ASX 200 dipped 0.1% amid commodity price volatility
Wall Street’s Tuesday session saw tech titans Nvidia (-2.8%) and Tesla (-8.4%) tumble as AI chip dominance faces challenges from Chinese rivals like DeepSeek. The S&P 500 closed 0.5% lower despite a late rally, reflecting growing inflation concerns amplified by weakening consumer confidence reports.
With U.S. households expressing unprecedented recession fears since June 2024, analysts warn the soft-landing narrative is unraveling. Bitcoin held steady at $88,800 as investors balanced risk appetite, while oil prices fluctuated amid Trump’s revived tariff threats against Canada and Mexico.
