Japan’s shares set for lower open; U.S.-listed Chinese tech stocks drop overnight

Japan’s shares set for lower open; U.S.-listed Chinese tech stocks drop overnight


SINGAPORE — Japan’s markets are set to fall at Friday’s open, after U.S. stocks fell overnight as Treasury yields climbed to highs.

The Nikkei futures contract in Chicago was at 26,955 while its counterpart in Osaka was at 26,920 — lower than the Nikkei 225’s last close at 27,172.

Economic data due out on Friday includes China’s property prices and South Korea’s trade data.

Many markets in the region are closed for the Good Friday holiday, including Australia, Singapore, India and New Zealand.

U.S.-listed Chinese tech stocks dropped overnight after a Bloomberg report said China’s -anti-corruption watchdog was among agencies involved in an investigation into links between Alibaba’s Ant Group and state-owned Chinese firms.

New York-listed Alibaba closed more than 4% lower, while JD.com fell about 3% and Pinduoduo plunged nearly 9%.

Hong Kong markets are also closed for the Good Friday holiday.

Stock picks and investing trends from CNBC Pro:

U.S. stocks fell Thursday, capping a losing week as investors digested mixed earnings results from major banks and rising inflation.

The S&P 500 fell 1.21% to 4,392.59, while the Nasdaq Composite lost 2.14% to 13,351.08. The Dow Jones Industrial Average lost 113.36 points, or 0.33%, to 34,451.23.

Inflation was in focus this week. U.S. Treasury yields climbed higher as inflation reports showed sharply rising prices, driving expectations of more aggressive Fed tightening. On Thursday, the benchmark 10-year U.S. Treasury yield rose to multiyear highs, climbing 13 basis points to top 2.8%.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 100.321, regaining its strength to rise back above the 100 mark.

The Japanese yen traded at 126.06 per dollar, continuing to weaken. The Australian dollar continued to fall and was trading at $0.7411.



Source

China’s manufacturing activity contracts amid trade tensions
World

China’s manufacturing activity contracts amid trade tensions

A worker works in a workshop of a textile products manufacturing enterprise in Qingzhou Economic Development Zone in Qingzhou City, Shandong Province, China, on May 10, 2025. Costfoto | Nurphoto | Getty Images China’s manufacturing activity contracted for a second month in May, an official survey showed on Saturday, raising expectations for more stimulus to […]

Read More
Trump will hold a rally at U.S. Steel as investors seek clarity on Nippon deal. Here’s what we know
World

Trump will hold a rally at U.S. Steel as investors seek clarity on Nippon deal. Here’s what we know

President Donald Trump will hold a rally Friday at a U.S. Steel plant near Pittsburgh, a week after signaling that he had cleared a controversial merger with Japan’s Nippon Steel. Trump is scheduled to deliver remarks at 5 p.m. ET at U.S. Steel’s Irvin Works in West Mifflin, Pennsylvania, according to the White House. Investors […]

Read More
Tesla shares set to wrap strong May as Elon Musk ends time with Trump’s DOGE
World

Tesla shares set to wrap strong May as Elon Musk ends time with Trump’s DOGE

Elon Musk is interviewed on CNBC from the Tesla headquarters in Texas. CNBC Shares of the Elon Musk-led automaker Tesla have rallied in May despite recent poor car sales numbers for the company in China and Europe, as the billionaire CEO promised to focus more on his businesses than politics. Tesla shares are on track […]

Read More