Tencent Music shares bounce 16% after second-quarter earnings high estimates
Tencent Music Leisure Group rose 16% Wednesday, a day after the corporate beat estimates for second-quarter income and revenue on strong subscriber progress in its on-line music providers.
The corporate reported income of 8.44 billion Chinese language yuan ($1.18 billion), up by about 18% from the identical interval final yr. The lion’s share of the income got here from the corporate’s on-line music providers, which grew by over 26%.
Web revenue attributable to shareholders reached 2.57 billion yuan, representing a 37.4% year-over-year bounce.
A Reuters ballot had estimated income at 7.98 billion yuan and revenue at 2.29 billion yuan.
“Whereas our music subscription enterprise remained a core progress driver, our increasing suite of music-related providers—together with promoting, concert events, and artist merchandise—confirmed spectacular momentum,” mentioned Cussion Pang, govt chairman on the firm.
— Dylan Butts
Chinese language and Hong Kong shares open larger
Chinese language and Hong Kong shares rose Wednesday. As of 9:45 a.m. native time (9:45 p.m. ET Tuesday), the Dangle Seng Index rose 1%, whereas mainland’s CSI 300 added 0.33%.
The Shanghai Composite Index rose to the best intraday stage since December 2021, information from LSEG confirmed.
— Lee Ying Shan
Japan’s Nikkei 225 hits recent file excessive
Japan’s blue-chip Nikkei 225 prolonged its features and hit a recent file excessive Wednesday.
Among the many index’s high movers are Yokohama Rubber, which gained 10% and Renesas Electronics, which rose over 7%. Tokyo Electrical Energy Firm Holdings jumped 5.26%.
“Latest Japanese asset appreciation displays constructive steps the federal government is taking to enhance capital markets and company governance, particularly company sensitivity to fairness values,” mentioned Fitch Options’ analysts.
If the Liberal Democratic Celebration stays on its constructive coverage trajectory when it comes to opening its home market to larger international funding and extra international employees, “the trouble to flee deflation” will proceed to make headway, the analysis agency mentioned.
—Lee Ying Shan
Asia-Pacific markets open within the inexperienced
Asia-Pacific markets opened larger Wednesday. Japan’s Nikkei 225 benchmark rose 1% after hitting a file excessive Tuesday, whereas the broader Topix index added 0.72%, as of 8:02 a.m. Singapore time (8:02 p.m. ET Tuesday).
In South Korea, the Kospi index superior 1.07%, whereas the small-cap Kosdaq elevated by 0.88%.
Over in Australia, the S&P/ASX 200 was up 0.29%.
— Lee Ying Shan
Listed below are the opening requires the day
Completely happy mid-week from Singapore. Asia markets are set for a principally larger open.
Japan’s Nikkei 225 was set to open larger, with the futures contract in Chicago at 43,325, whereas its counterpart in Osaka final traded at 43,280, in opposition to the index’s final shut of 42,718.17.
Futures for Hong Kong’s Dangle Seng index stood at 25,144, pointing to a better open in contrast with the HSI’s final shut of 24,969.68.
Nonetheless, Australia’s S&P/ASX 200 was set to start out the day decrease with futures tied to the benchmark at 8,852, in contrast with the index’s final shut of 8,880.8.
— Lee Ying Shan
S&P 500 hits new intraday excessive
Merchants work on the ground of the New York Inventory Alternate on August 11, 2025.
NYSE
The S&P 500 rose 0.8% on Tuesday to hit a brand new intraday excessive.
S&P 5D chart
Through the session, the S&P 500 surpassed its prior excessive from July 31. A closing excessive could be the S&P’s sixteenth of the yr.
Earlier within the morning, the Nasdaq Composite additionally hit a brand new intraday excessive. A file shut could be the benchmark’s nineteenth of the yr.
— Nick Wells, Lisa Kailai Han