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Sector Update: Financial

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-- Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.5%.

The Philadelphia Housing Index was decreasing 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.6%.

Bitcoin (BTC-USD) was falling 1.5% to $76,184, and the yield for 10-year US Treasuries rose 2.6 basis points to 4.36%.

In corporate news, JPMorgan Chase (JPM) was selected as the first global banking partner of the Olympic Games, the company and the International Olympic Committee said Tuesday. Separately, JPMorgan is joining HSBC (HSBC) in providing a $6 billion financing for potential suitors of a stake in Kuwait Petroleum's crude oil pipeline network, Reuters reported. JPMorgan shares rose 0.3%, and HSBC was steady.

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Asia

Baosteel's Attributable Profit Rises 41% in 2025

Baoshan Iron & Steel or Baosteel's (SHA:600019) attributable profit rose 41% to 10.3 billion yuan in 2025 from 7.36 billion yuan in 2024, according to a Thursday filing with the Shanghai bourse.Earnings per share at the steel manufacturer increased 41% to 0.48 yuan from 0.34 yuan in the previous year.Operating revenue slipped 1.4% year over year to 317.5 billion yuan from 322.1 billion yuan.

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International

Malaysia's International Reserves Total $126.6 Billion at End-March

Malaysia's international reserves stood at $126.6 billion at end-March, according to data released by the central bank on Thursday.Other foreign currency assets were recorded at $69 million, with the breakdown outlining expected inflows and outflows over the next 12 months.Short-term foreign currency outflows totalled $9.90 billion, while net short forward positions came in at $23.2 billion, reflecting liquidity management in the domestic market. Contingent liabilities were limited to $846.4 million, Bank Negara Malaysia said.

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Australia

Update: Alphabet Q1 Earnings, Revenue Rise; Shares Jump Premarket

(Updates with the stock move in the headline and the first paragraph.)Alphabet's (GOOG, GOOGL) shares were up 6% in Thursday's premarket activity after the tech giant reported overnight Q1 earnings and sales above market expectations.The company reported Q1 earnings late Wednesday of $5.11 per diluted share, up from $2.81 a year earlier.Analysts polled by FactSet expected $2.63.Revenue for the quarter ended March 31 rose to $109.9 billion, up from $90.2 billion a year earlier.Analysts surveyed by FactSet expected nearly $106.96 billion.The company raised its quarterly cash dividend to $0.22 per share from $0.21, payable June 15 to stockholders of record as of June 8.Price: $368.21, Change: $+20.90, Percent Change: +6.02%

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