Hong Kong stocks snap 5-day losing streak to gain 2%; Asia markets mixed

Malaysia's sovereign wealth fund Khazanah Nasional is rebalancing its investment portfolio for greater resilience against market volatility, according to its managing director.

Khazanah's net asset value declined 5% to 81 billion ringgit ($17.4 billion) in 2022 from a year ago, hit by global market downtrends, the fund said in March. The Kuala Lumpur-based fund invests more than half of its portfolio in public markets.

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— Clement Tan

The Japanese yen lingered at seven-month lows despite the country's finance minister warning the government would respond if the currency depreciates excessively.

The yen was trading around 143 yen to the U.S. dollar, its weakest since Nov. 11 when it sank to 146.2 yen.

This follows a similarly-worded warning Monday from Vice Finance Minister for International Affairs Masato Kanda.

Last year, Japan's Finance Ministry intervened with roughly $68 billion to prop up the yen on three separate days: Sept. 22, Oct. 21 and Oct. 24 — as the currency notched 150 against the greenback, weakening to levels not seen since 1990.

A policy divergence between the Bank of Japan's ultra easy monetary policy and the U.S. Federal Reserve's aggressive tightening stance against inflation is driving dollar strength.

— Clement Tan

Mongolia's deputy minister of economy and development, Tuvdendorj Gantumur, says his country is looking to China for agricultural exports and investments to its mining sector, as Mongolia seeks to diversify its economy.

Shares of Singapore-listed shipbuilder Yangzijiang Shipbuilding spiked over 6% on Tuesday after the company announced it had secured a contract from shipping company Maersk to build six methanol dual-fuel container ships.

Each of these ships have a capacity of 9,000 twenty-foot equivalent unit. The Maersk deal is the company's first order win for methanol dual-fuel containerships.

The six vessels secured will be fully constructed in-house and due for delivery between 2026 and 2027.

— Lim Hui Jie

There's one stock that "resonates the most" for Dani Saurymper, whose fund invests in many sectors catering to an aging population.

"This isn't necessarily the biggest holding in the portfolio, but it's the one for me that really resonates the most in terms of the theme about social change, demographic shift, and it comes back to industry and it comes back to people," Saurymper told CNBC Pro Talks last week.

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— Weizhen Tan

The near-15% rally in the S&P 500 led by the tech sector could be overdone, according to Patrick Armstrong, chief investment officer of Plurimi Wealth.

But the fund manager isn't selling his Big Tech positions.

Armstrong, who manages the Plurimi AI Global Equity Strategy, revealed how he's trading the mega-valuations and names stocks to buy. He also forecast how the tech sector is likely to trade in the next half of the year should a recession occur.

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— Ganesh Rao

Stocks finished lower on Monday to kick off the final trading week of the second quarter and first half.

The Nasdaq Composite dropped 1.16% to settle at 13,335.78, while the S&P 500 lost 0.45% to close at 4,328.82. The Dow Jones Industrial Average dipped 12.72 points, or 0.04%, to end at 33,714.71.

— Samantha Subin

The Nasdaq Composite lost more than 0.7% during midday trading Monday as major technology stocks pulled back.

Behemoth beneficiaries of the artificial intelligence boom, including Nvidia, Alphabet, Microsoft and Meta Platforms, were last down 4.3%, 2.4%, 1.3% and 2.9%, respectively. Tesla shed 5% following a downgrade from Goldman Sachs, while Netflix and Amazon lost 1% each.

— Samantha Subin

Berkshire Hathaway's BYD stake has gone below 100 million shares, a reduction of more than 56% from the 225 million shares it first purchased in 2008 for $230 million.

In the latest of a series of filings, in Hong Kong, Berkshire reports it held 98.6 million shares as of June 19. They currently have a market value of almost $3.2 billion.

Although unclear when the sales began, the first disclosure was in August of last year. There has still been no detailed explanation of what's driving the selling.

It did not come up during last month's shareholders meeting. During a live CNBC interview in April, Buffett only said it is an "extraordinary company" being run by an "extraordinary person," but "I think that we'll find things to do with the money that I'll feel better about."

— Alex Crippen

Oil prices steadied Monday, paring some early gains, as investors watched to see if there'll be further fallout from an attempted insurrection in Russia that could disrupt energy supplies from one of the world's largest oil producer nations.

West Texas Intermediate futures were last up about 0.61% at $69.58, after initially rising as much as 1.3% to just below $70 a barrel earlier Monday, followed by last week's almost 4% decline. Brent crude were trading about 0.66% higher at $74.35.

— Clement Tan, Sarah Min