Hong Kong shares fell 2%, dragged down by real estate and technology. Asian markets are mixed

The Adani Group chairman on Tuesday confirmed the company’s disclosure that no breach had been found and that the Hindenburg report carried misleading information.

“The report was a mixture of targeted misinformation and false allegations, most of which date from 2004 to 2015,” group chairman Gautam Adani said in a speech to shareholders during the annual general meeting.

He added that the panel of experts looking into the matter had not found any regulatory failure and confirmed that the group’s disclosures had not found “any cases of any breach”.

Adani Enterprise shares rose 0.56%, while Adani Transmission rose 1.58%. Adani Green added 1.52%.

– Lee Ying Chan

Real estate and technology stocks led the losses on the Hang Seng, which fell more than 2%.

The real estate development company Longfor Group was the biggest loser on the index, as its shares fell by more than 9%, while Country Garden Holdings fell by 6.67%.

On the technology front, shares of JD Health International fell more than 5% and were the biggest loser in the sector, followed by Alibaba Group’s Health Information Technology, which fell 4.2%.

The Reserve Bank of Australia was weighing whether to keep interest rates steady, or raise by 25 basis points at its July meeting. Minutes revealed.

The central bank ultimately decided to leave interest rates unchanged, saying that monetary policy was “clearly restrained” at the prevailing cash rate of 4.1% and that mortgage interest payments were around a record high in May.

He also acknowledged that inflation is declining, and will help mitigate the risk of rising inflation expectations over the medium term.

The bank said the risks of slower output growth are more than expected if interest rates are raised, noting that there is “significant uncertainty” about household consumption.

Read more here.

– Lim Hwi Ji

Chinese real estate developer China Evergrande Group posted huge losses on its long-awaited results for 2021 and 2022.

The company saw a total net loss of 686.2 billion yuan ($95.68 billion) for 2021, and a total net loss of 125.8 billion in 2022.

for the year 2022, The majority of losses The losses related to land restitution, financial asset impairment losses and other non-operating losses amounted to 69.37 billion yuan.

Liabilities for Evergrande totaled 2.35 trillion yuan last year, up 23% compared to 2020While its total assets reached 1.8 trillion yuan, down 20% from the previous two years.

– Lim Hwi Ji

After a more than 80% jump in the bitcoin price in the first half of 2023, cryptocurrency market watchers tell CNBC Pro how they expect the cryptocurrency to perform in the latter half of the year.

Carole Alexander, Professor of Finance at the University of Sussex, Jeff Kendrick of Standard Chartered, and Anthony Trenchev, CEO of cryptocurrency lending firm Nexo, reveal their predictions.

CNBC Pro subscribers can read more here.

– Ryan Brown

European semiconductor stocks are set to face a “tough quarter” thanks to the “volatile earnings season” that begins this week, according to Barclays.

The investment bank has laid out major earnings forecasts for ASML, Nokia, STMicro and Infineon, and its medium-term outlook for chip stocks.

CNBC Pro subscribers can read more here.

– Ganesh Rao

On Monday, the iShares Expanded Tech-Software ETF rose 1.2%, hitting a 52-week high.

The ETF, which targets exposure to software, interactive media, and related companies, gained nearly 42% in 2023. Meanwhile, the VanEck Semiconductor ETF also gained more than 1% as of Monday afternoon, amid 56.3% year-to-date. its history. gathering.

The S&P 500 rose by a modest 0.3% Monday morning, but 43 components of the broad market index jumped to 52-week highs, including a handful that reached their highest levels in decades.

Booking Holdings jumped to an all-time high of $2,938.38, hitting all-time highs dating back to the initial public offering of travel stock in 1999.

Cintas jumped to all-time highs dating back to its inception in 1983. The company’s fashion resource touched a high of $503.70. Cintas posted an outperformance late last week, with fiscal fourth-quarter earnings of $3.33 per share, and revenue of $2.28 billion.

Pest control giant Rollins touched a high of $44.78, its highest level ever since it began trading on the New York Stock Exchange in 1968.

–Darla Mercado, Chris Hayes

Details are starting to pour in about the rebalancing of the Nasdaq 100, which will take effect on July 24.

According to Goldman Sachs, Nvidia and Microsoft are the stocks that will see the biggest downward adjustments as part of the rebalancing, and Apple will be the largest stock in the group, but with a smaller weight than it currently has.

Read more about the changes to the index and the potential impact on stocks in the CNBC Pro.

—Jesse Pound

Manufacturing activity in areas of New York nearly came to a halt in July, with many companies reporting expansions like contractions.

The New York Federal Reserve’s Empire State Manufacturing Survey fell 6 points to a reading of 1.1, which represents the difference between companies seeing growth versus contraction. Wall Street was looking for a reading of zero, according to Dow Jones.

New orders changed little at 3.3, while shipments fell 8.6 points and inventories fell 4.8 points to a reading of -10.8. There was some good news on inflation, with prices paid and indices received down more than 5 points.

– Jeff Cox