BUSINESS

Mesoblast shares jumped 23.4% after quarterly Ryoncil revenue rose 44% to US$28 million and operational cash spending fell 86% to US$2.1 million.

GenusPlus shares rose 4.7% to A$8.41, extending a recovery from their October low despite no new company-specific announcement or clear trigger for the gain.

Lynas Rare Earths shares rose 4.2% after record prices lifted quarterly revenue 55%, despite the result missing expectations and sales volumes falling 17.7%.

Australian shares rose as Microsoft's strong Azure results eased concerns about AI spending, while investors assessed possible US and Australian interest rate increases and company news.

GameStop shares rose modestly after recent losses as investors weighed Ryan Cohen's proposed eBay takeover, shareholder support, Wall Street scepticism and weakness in the retailer's core business.

Micron shares rose nearly 5% after SK Hynix reported strong results and said demand for high-bandwidth memory used in AI processors could exceed supply through 2030.

Tesla shares fell after rising on speculation about a possible SpaceX merger. Investors are weighing the uncertain deal alongside weak earnings, high valuations and pressure on vehicle sales.

SK Hynix reported record quarterly results, buoyed by AI data-centre demand, and announced a planned 100 trillion won shareholder-return programme for 2026.

Toyota shares fell 1.58% in New York as investors assessed declining profits, weak Chinese sales, tariffs and currency risks ahead of the automaker's half-year results.

Character.AI users reported loading, login and connection problems across several countries, as the AI chatbot company continues bankruptcy proceedings involving a proposed Disney-backed asset sale.

Axogen shares rose nearly 22% after the nerve repair company exceeded third-quarter earnings and revenue expectations, raised its 2026 sales forecast and reported progress on insurance coverage.

Genmab shares rose 16% after encouraging ovarian and colorectal cancer trial results, a JPMorgan upgrade and stronger expectations for its experimental drug pipeline.

Vertiv shares rose nearly 13% after the data-centre equipment maker reported organic orders more than doubling and raised its full-year forecast amid accelerating AI infrastructure demand.

ICON shares climbed nearly 13% after the clinical research company beat third-quarter expectations, reported stronger bookings and expanded its share buyback authorisation to $750 million.

Hayward Holdings shares rose more than 12% after the pool equipment maker exceeded third-quarter expectations, reported stronger profit and raised its 2026 financial outlook.

South Korean shares rallied sharply after SK Hynix reported record third-quarter earnings, announced major shareholder returns and said AI-driven memory demand should outstrip supply through 2030.

Japan's Nikkei 225 gained 1.08% after strong SK Hynix earnings lifted AI-related shares, while investors awaited central bank decisions and assessed currency and earnings risks.

Chinese stocks rebounded after two days of losses, led by technology and robotics shares as strong SK Hynix earnings revived regional enthusiasm for artificial intelligence investments.

NextDC shares rose 9.39% after the data centre operator reported strong covenant compliance and liquidity, easing fears following a profit warning linked to power delays at its M3 Melbourne site.

Perseus Mining shares rose nearly 9% after quarterly gold output exceeded plan, while its cash-rich balance sheet and Tanzanian Nyanzaga project boosted investor confidence.

Iluka Resources shares rose 8.18% after the company reported initial commercial-scale dysprosium and terbium production, progress at its Eneabba refinery and expectations for higher zircon prices.

Data#3 shares climbed nearly 8% after the Brisbane-based IT services company forecast first-half fiscal 2027 pre-tax profit growth of up to 70%.

Austal shares rose 7.6% after the company updated shareholders on advanced talks to sell Austal USA and a surge in Australian defence contracts.

Australian shares ended slightly lower after stronger-than-expected inflation lifted expectations of an RBA rate hike, while rising housing and fuel costs added pressure to households.

Nike shares slipped 0.41% in early trading as investors assessed weak China sales, falling revenue and the lengthy recovery plan under chief executive Elliott Hill.

Yelp shares fell 40 cents to $19.06 in early Tuesday trading, extending a longer decline as investors assess advertising demand, competition and the company's product investments.

Celestica reported an 83% rise in third-quarter revenue, lifted its 2026 forecast and projected nearly $40 billion in 2027 sales as AI data centre demand accelerates.

Herc Holdings shares rose more than 10% after the equipment rental company reported record third-quarter rental revenue, beat earnings expectations and raised its full-year 2026 outlook.

Polaris shares rose more than 9% after the company beat third-quarter profit estimates, reported market share gains and raised its full-year 2026 earnings and sales forecasts.