The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

0445 GMT - New Zealand's NZX-50 closed 0.1% higher at 12428.84, snapping a three-day losing streak despite Air New Zealand shares falling after its CEO resigned. The benchmark index spent the session bouncing between narrow gains and losses, eventually helped over the gain line by infrastructure stocks and aged-care providers. Infratil and Channel Infrastructure rose 2.6% and 1.1%, respectively. Ryman, Oceania and Summerset added between 0.7% and 2.5%. Shares in Air NZ fell 4.0% to their lowest closing level in almost two months as Greg Foran, who steered the national carrier through the Covid-19 pandemic and its aftermath, said he will leave on Oct. 20. (stuart.condie@wsj.com)

0441 GMT - Hong Kong shares rise to multi-year highs, with the Hang Seng Index up 2.6% at 24216.93 around midday. The Hang Seng Tech Index is up 4.7% at 6029.91. Sentiment is driven by China's GDP growth target of around 5% for 2025, matching that of 2024 despite U.S. trade tensions. Markets are also supported by the government's pledges to boost domestic consumption, innovation and the tech industry, the Saxo APAC Research team writes in a note. Tech stocks lead the gains, with Kuaishou Technology up 14%, Alibaba Group rising 7.2% and Tencent gaining 5.8%. (kimberley.kao@wsj.com)

0426 GMT - Indian shares are lower as uncertainty over trade frictions between the U.S. and its trading partners continues. Financial and tech stocks are leading the declines. Kotak Mahindra Bank is down 1.0% and Infosys is 0.8% lower. Among individual movers, Zydus Lifesciences is up 3.5% after it received an approval for its leukemia drug from the U.S. Food and Drug Administration. Investors are focusing on U.S. trade policy as well as monthly business updates from Indian companies. The benchmark Sensex is down 0.1% at 73653.88. (kosaku.narioka@wsj.com; @kosakunarioka)

0418 GMT - LG Innotek's 1Q earnings are expected to beat street views, due to higher average selling prices for iPhone cameras, Daishin Securities analyst Kangho Park writes in a note. The South Korea-based Apple supplier is projected to deliver operating profit at KRW131.80 billion, well above Daishin's earlier estimate of KRW86.00 billion and the market consensus forecast of KRW94.50 billion, Park says. The company supplies Apple exclusively with cameras for iPhone 16E products, launched in February, after making cameras for many iPhone 16 Pro and Pro Max products in 2024, he notes. Daishin raises the stock's target price by 4.0% to KRW260,000 and maintains a buy rating. Shares are 9.7% higher at KRW177,700. (kwanwoo.jun@wsj.com)

0411 GMT - Job advertiser Seek remains Jarden analysts' top pick among Australian classifieds stocks following an earnings season they say was defined by companies "controlling the controllables." Analysts Tom Beadle and Liam Robertson point to solid performance across the sector, with strong yields and tight operating-expense control. In their view, Seek benefits from its exposure to higher-than-expected volumes, which is the key swing factor in their June-half estimates. They tell clients in a note that employment is typically the most volatile classifieds vertical. Every 1% increase in volume raises their EPS forecast by 3%, they say. Jarden has a buy rating and a A$28.00 target price on the stock. Shares are up 1.7% at A$24.55. (stuart.condie@wsj.com)

0321 GMT - JG Summit Holdings' recent share-price weakness is likely a buying opportunity, Maybank Securities analysts say, citing the sharp year-to-date decline. The Philippine conglomerate's current market capitalization represents only its investments in PLDT and Manila Electric, the analysts note in a research report. The shares are also trading at a 65% discount to the real-time net asset value, deeper than the five-year average of 23%, the analysts say. The brokerage raises its target price for the stock to PHP34.00 from PHP33.00, reflecting adjusted target prices for business units Bank of the Philippine Islands, Manila Electric, and Cebu Air, with an unchanged buy rating. Shares are 0.45% lower at PHP17.68. (ronnie.harui@wsj.com)

0320 GMT - TSMC's fresh $100 billion investment plan in U.S. semiconductor manufacturing without subsidies is a policy win for the Trump administration, ING analyst Jan Frederik Slijkerman says in a note. Governments across the world have been working to shift chip manufacturing capacity closer to home to reduce geopolitical risks. While subsidies remain an important driver for local production elsewhere in the world, the threat of a U.S. tariff on chips could provide a strong incentive for U.S production, he says. The analyst thinks the tariff risk has contributed to TSMC's decision to invest $100 billion in Arizona after its $65 billion commitment under the Biden administration, he says. While the chip industry's outlook is relatively solid, he thinks tariffs could weigh. (sherry.qin@wsj.com)

0239 GMT - The National People's Congress meeting beat expectations for China's property sector, Citi analysts say in a research note. For the first time, authorities mentioned in an official government work report the need to "effectively mitigate property firms' debt default risks," indicating a supportive stance and also signaling authorities' determination for the sector's stabilization, Citi notes. Citi thinks it's "a positive signal" and names China Vanke as an example of the local government's support. Property is a critical factor for domestic demand and confidence, hence stabilizing home prices in major tier-1 and tier-2 cities are important, the analysts say. Citi turns more positive on the sector due to such signals from the NPC meeting as well as improvements in secondary home sales seen in recent months. Citi's top picks are KE Holdings, China Resources Land, among others. (sherry.qin@wsj.com)

0235 GMT - Sea Ltd.'s upbeat 2025 earnings guidance is a positive surprise, HSBC Global Research analysts say in a note. Sea expects gross merchandise value of its Shopee e-commerce platform to grow around 20% and its Garena digital entertainment arm to post double-digit growth in user base and bookings in 2025, the analysts note. Sea's adjusted Ebitda could rise 2.6 times in three years, thanks to drivers including likely Ebitda CAGR of roughly 22% over 2024-2027 for its SeaMoney digital financial services provider, the analysts estimate. HSBC raises the target price on the American depositary receipts to $150.00 from $140.00 with an unchanged buy rating. The ADRs closed 11% higher at $146.31 on Wednesday. (ronnie.harui@wsj.com)

0215 GMT - PPB Group's earnings could strengthen this year and next, supported by growth in its agribusiness, consumer-product and cinema segments, Kenanga IB analyst Khoo Teng Chuan says in a note. Demand for flour and feed is rising across Malaysia, China, Vietnam and Thailand, while Thai associate Kerry Flour Mills has expanded capacity by 60%, he notes. Consumer-product margins may improve slightly despite high palm oil costs, he says. PPB guided for stronger earnings at its cinema business thanks to a robust movie lineup and expanding operations in Vietnam, he adds. Khoo expects the conglomerate's property earnings to grow following its housing development launch in Malaysia's Kedah state. Kenanga maintains an outperform rating on PPB and keeps the target price at MYR16.00. Shares are 0.2% higher at MYR11.06. (yingxian.wong@wsj.com)

0207 GMT - Erawan Group is poised to benefit from its strategy of expanding its hotel business, Thanachart Securities' Siriporn Arunothai says in a research report, as the brokerage maintains a buy rating on the stock. This strategy targets high growth markets in Thailand, Japan, the Philippines, and other potential markets in Asia, the analyst notes. It also targets higherreturn, non-luxury segments. The brokerage's forecast for the Thai company's EPS growth is at 15% in 2025, 11% in 2026, and 2% in 2027, citing revenue growth from existing and new hotels. Thanachart Securities raises the stock's target price to THB5.80 from THB5.30. Shares closed 3.1% higher at THB3.32 on Wednesday. (ronnie.harui@wsj.com)

0157 GMT - Hong Kong's Hang Seng Index rises 2.1% to 24095.71, led by tech stocks. Markets are likely digesting announcements from China's National People's Congress. Consumption and innovation priorities were heavily emphasized by Premier Li Qiang, with subsidies announced which will benefit manufacturers for appliances, EVs and electronic devices, Maybank analysts write in a note. Kuaishou Technology jumps 7.7%, Alibaba Group rises 6.5% and Tencent Holdings gains 5.0%. The Hang Seng Tech Index is 3.4% higher. Among decliners, Chow Tai Fook Jewellery Group falls 2.3%, Cnooc loses 1.5% and Xinyi Solar is 1.4% lower. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

March 05, 2025 23:45 ET (04:45 GMT)

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