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Central Hong Kong and the IFC tower seen from the Avenue of Stars in Tsim Sha Tsui. (Photo by Marc Fernandes/NurPhoto via Getty Images)Asia-Pacific markets are set to extend losses Thursday tracking Wall Street's selloff after ratings agency Fitch downgraded the United States' long-term credit rating from AAA to AA+. In Asia, investors will be watching the Caixin survey for China's service sector activity in Juy. Futures for Hong Kong's Hang Seng index stood at 19,403, pointing to a weaker open compared to the HSI's close of 19,517,38. In Australia, futures for the S&P/ASX 200 were at 7,241 compared to the last close of 7,354.6.
Persons: Marc Fernandes, Fitch Organizations: IFC, Tsim Sha Tsui, Getty Images, United, AAA, AA Locations: Hong Kong, Tsim Sha, Asia, Pacific, United States, 19,517,38 . Hong Kong, Chicago, Osaka, Australia
(Photo by Marc Fernandes/NurPhoto via Getty Images)Asia-Pacific markets are trading mixed after the U.S. posted more data that showed inflation was easing. The producer price index for April, posted a year-on-year increase of 0.2%, against a Dow Jones estimate for 0.3% and after declining 0.4% in March. In mainland China, the Shanghai Composite fell 1.12% and closed at 3,272.36, dragged lower by in academic and educational services stocks. Hong Kong's Hang Seng index also fell 0.7% ahead of its first-quarter GDP figures. The Topix also climbed 0.64% and ended at 2,096.39, led by health care and utilities stocks.
watch nowAsia-Pacific's private equity market plummeted last year — as investors' appetite for risk fell in the face of inflation and geopolitical tensions, according to Bain & Company. The total deal value for the region plunged by 44% to $198 billion in 2022, the global management and consulting firm said in a Tuesday report. Lingering macroeconomic uncertainties alongside rising costs and worsening company performance that dampened investor sentiment, Bain said in its Asia Pacific Private Equity Report 2023. "For more than a decade, the Internet and tech sector has attracted the largest share of private equity capital in the Asia-Pacific region. ESG-related investmentsWhile macroeconomic conditions dampened investors' sentiment in private equity deals region-wide, Bain saw a rise in the number of deals related to environmental, social, and corporate governance (ESG).
Tesla reports earnings after the bell Wednesday
  + stars: | 2023-01-25 | by ( Lora Kolodny | ) www.cnbc.com   time to read: +3 min
Hong Kong, China, 13 Sept 2022, A red Tesla car passes in front of a Tesla dealership in Wanchai. (Photo by Marc Fernandes/NurPhoto via Getty Images)Electric vehicle maker Tesla plans to report fourth-quarter results after market close on Wednesday. Here's what analysts were expecting as of Wednesday morning, according to Refinitiv:Earnings (adjusted): $1.13 per shareRevenue: $24.16 billionIn the year-ago quarter, Tesla reported revenue of $17.72 billion and adjusted earnings of $2.52 per share. Tesla reported 405,278 vehicle deliveries and production of 439,701 vehicles in the period ending December 31, 2022. Tesla solicits questions ahead of their earnings calls via a site called Say.com from both retail and institutional investors.
Hong Kong, China, 13 Sept 2022, A red Tesla car passes in front of a Tesla dealership in Wanchai. Tesla – Shares of Tesla rose 8% Monday after CEO Elon Musk's attorneys on Saturday asked a California court to move a trial over the company stock to Texas, citing local negativity. Uber – Uber shares gained 5.2% on an upgrade from Piper Sandler to overweight from a neutral rating. Monolithic Power Systems – Shares of Monolithic Power Systems gained 6.4% amid the semiconductor rally, following shares of Nvidia and Advanced Micro Devices. Goldman Sachs – Shares gained 2% following reports that the banking giant is laying off 3,200 employees, or 6.5% of the workforce it had in October.
Hong Kong, China, 13 Sept 2022, A red Tesla car passes in front of a Tesla dealership in Wanchai. (Photo by Marc Fernandes/NurPhoto via Getty Images)Tesla's Chinese suppliers jumped after the electric automaker slashed prices for some models in China. Shenzhen-listed shares of Tesla's Chinese suppliers rallied on optimism the price cut could boost demand. Shares of Anhui Shiny Electronic Technology closed 8.8% higher and Hengdian Group DMEGC Magnetics gained nearly 9%. Zhejiang Chint Electrics closed 7.92% higher and Shandong Jinjing Science & Tech rose more than 6%.
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