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March 1, 2013, 4:03 a.m. EST

Shanghai, Hong Kong stocks sag; Tokyo rises

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By Sarah Turner and V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Stocks in Shanghai and Hong Kong pulled back Friday as lackluster data on Chinese manufacturing prompted a retreat after a solid rally in the previous session, while Japanese shares got a lift as real-estate firms advanced on an improved outlook.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.17%  lost 0.6% and the Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 +2.30%  fell 0.3% after jumping at least 2% in the previous session, while Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO +0.25%  lost 0.4%.

The drop came after two separate sets of manufacturing data showed activity at Chinese factories leveled off in February as compared to the previous month. Read: China manufacturing grows marginally, surveys show.

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Several economists, however, said the data may have been distorted due to the timing of this year’s Lunar New Year holidays, and remained optimistic about growth.

“China’s recovery continues on improving domestic-demand conditions and the labor market. The pace of ongoing recovery is mild, implying no need for the People’s Bank of China to tighten policy anytime soon,” said Hongbin Qu, the chief China economist at HSBC.

The resource and financial sectors were notably weaker, with Jiangxi Copper Co. /zigman2/quotes/201334192/delayed CN:600362 +1.29%   /zigman2/quotes/204256025/delayed JIXAY -2.94% /zigman2/quotes/201668148/delayed HK:358 0.00% dropping 2.5%, Aluminum Corp. of China Ltd. /zigman2/quotes/202960704/delayed HK:2600 +0.88% /zigman2/quotes/208051344/composite ACH +0.27%   /zigman2/quotes/210453246/delayed CN:601600 +1.57%  skidding 4.8% and Agricultural Bank of China Ltd. /zigman2/quotes/204629388/delayed CN:601288 +0.86% /zigman2/quotes/200705246/delayed HK:1288 -0.31% /zigman2/quotes/207749118/delayed ACGBY +1.73% easing 0.8% in Hong Kong; in Shanghai, the stocks lost 1.4%, 0.8% and 1.7%, respectively.

Sun Hung Kai Properties Ltd. /zigman2/quotes/209086152/delayed HK:16 -1.13%   /zigman2/quotes/205427525/delayed SUHJY +0.30%  fell 1.9% in Hong Kong after cutting its fiscal-year property sales target and reporting a 1.9% decline in first-half underlying net profit.

Resource stocks in Australia also weakened after the China data, with Fortescue Metals Group Ltd. /zigman2/quotes/204116626/delayed FSUMF +2.61%   /zigman2/quotes/202351558/delayed AU:FMG +1.80%  sliding 4% and Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO +0.05%   /zigman2/quotes/202627887/composite RIO -0.15%  dropping 1.5%.

Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM +0.51%   /zigman2/quotes/206026738/delayed NCMGF +0.32%  slid 1.8% and Perseus Mining Ltd. /zigman2/quotes/205179925/delayed AU:PRU +3.27%   /zigman2/quotes/202190906/delayed PMNXF +3.19%  tumbled 5.6% after gold futures fell for a second straight session in New York on Thursday.

Japan stocks rise

Meanwhile, Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +0.34% finished up 0.4%, extending Thursday’s 2.7% surge, with real-estate stocks jumping to offset a drop in some exporters as the yen strengthened. The South Korean market was closed for a holiday.

The performance helped Japanese stocks end the week with a 1.9% advance — behind the Shanghai Composite’s 2% rise, but ahead of the S&P/ASX 200’s 1.4% climb and the Hang Seng Index’s 0.4% increase.

/zigman2/quotes/210597971/delayed NIK 23,479.15, +78.45, +0.34%
Nikkei

Shares of Japan Real Estate Investment Corp. /zigman2/quotes/202728746/delayed JP:8952 +0.62% /zigman2/quotes/203165941/delayed JREIF 0.00%  rose 3.9%, Mitsui Fudosan Co. /zigman2/quotes/204977526/delayed MTSFY -1.04% /zigman2/quotes/205394574/delayed JP:8801 +0.79%  gained 3.2% and Mitsubishi Estate Co. /zigman2/quotes/204837054/delayed MITEY -1.54% /zigman2/quotes/208910776/delayed JP:8802 +2.07%  jumped 6.1%.

Those gains helped the broad market gain even as Fast Retailing Co. /zigman2/quotes/203924235/delayed FRCOY +1.23% /zigman2/quotes/200663563/delayed JP:9983 -0.58%  eased 0.2%, Komatsu Ltd. /zigman2/quotes/205979659/delayed KMTUY -0.81% /zigman2/quotes/204002437/delayed JP:6301 +0.13%  dropped 0.6% and Isuzu Motors Ltd. /zigman2/quotes/202637468/delayed JP:7202 +0.40%   /zigman2/quotes/206362374/delayed ISUZY -0.19%  shed 1.1%.

“We continue to favor a weaker Japanese yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.6825%  over the medium term. A collapse in Japan’s current-account surplus is the main driver,” said foreign exchange strategists at Commonwealth Bank of Australia.

Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 +2.06%   /zigman2/quotes/208567357/composite SNE +0.65%  gained 3.9% after the Nikkei business daily reported the company had sold a building in Tokyo for 111.1 billion yen ($1.2 billion).

Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 +0.95% /zigman2/quotes/207472799/delayed SHCAF +3.24% rose 2.4% after a Kyodo News report that the electronics firm would soon accept executives from two major banks to secure their financial support. Read: Sharp to accept executives from banks.

Tokyo Electric Power Co. /zigman2/quotes/202771076/delayed JP:9501 -0.23%   /zigman2/quotes/204529331/delayed TKECF +0.05%  added 2.9% after a Nikkei News report that the firm was ordering more than ¥10 billion worth of supplies and equipment to use for decommissioning reactors at its Fukishima plant destroyed in the 2011 nuclear disaster.

Kobe Steel Ltd. /zigman2/quotes/207391157/delayed JP:5406 -1.09%  , which was reportedly supplying the material, added 0.8%.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,609.16
-46.65 -0.17%
Volume: 1.58M
Feb. 20, 2020 4:08p
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.59
+0.35 +2.30%
Volume: 123.54M
Feb. 20, 2020 3:00p
P/E Ratio
11.14
Dividend Yield
1.40%
Market Cap
¥295.75 billion
Rev. per Employee
¥6.12M
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,162.50
+17.90 +0.25%
Volume: 797,553
Feb. 20, 2020 5:23p
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/zigman2/quotes/201334192/delayed
CN : China: Shanghai
¥ 14.89
+0.19 +1.29%
Volume: 42.49M
Feb. 20, 2020 3:00p
P/E Ratio
20.89
Dividend Yield
1.34%
Market Cap
¥50.90 billion
Rev. per Employee
¥10.12M
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/zigman2/quotes/204256025/delayed
US : U.S.: OTC
$ 51.90
-1.57 -2.94%
Volume: 0.00
Feb. 12, 2020 5:20p
P/E Ratio
33.52
Dividend Yield
1.97%
Market Cap
$17.26 billion
Rev. per Employee
$1.55M
loading...
/zigman2/quotes/201668148/delayed
HK : Hong Kong
HK$ 9.67
0.00 0.00%
Volume: 4.79M
Feb. 20, 2020 4:08p
P/E Ratio
11.90
Dividend Yield
2.35%
Market Cap
HK$33.48 billion
Rev. per Employee
HK$12.12M
loading...
/zigman2/quotes/202960704/delayed
HK : Hong Kong
HK$ 2.29
+0.02 +0.88%
Volume: 27.32M
Feb. 20, 2020 4:08p
P/E Ratio
318.06
Dividend Yield
N/A
Market Cap
HK$38.64 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/208051344/composite
US : U.S.: NYSE
$ 7.32
+0.02 +0.27%
Volume: 35,502
Feb. 19, 2020 6:30p
P/E Ratio
322.47
Dividend Yield
N/A
Market Cap
$1.15 billion
Rev. per Employee
$387,394
loading...
/zigman2/quotes/210453246/delayed
CN : China: Shanghai
¥ 3.23
+0.05 +1.57%
Volume: 63.80M
Feb. 20, 2020 3:00p
P/E Ratio
587.27
Dividend Yield
0.35%
Market Cap
¥54.13 billion
Rev. per Employee
¥2.53M
loading...
/zigman2/quotes/204629388/delayed
CN : China: Shanghai
¥ 3.51
+0.03 +0.86%
Volume: 199.42M
Feb. 20, 2020 3:00p
P/E Ratio
5.80
Dividend Yield
4.95%
Market Cap
¥1217.94 billion
Rev. per Employee
¥1.80M
loading...
/zigman2/quotes/200705246/delayed
HK : Hong Kong
HK$ 3.19
-0.01 -0.31%
Volume: 153.45M
Feb. 20, 2020 4:08p
P/E Ratio
4.62
Dividend Yield
6.20%
Market Cap
HK$1119.94 billion
Rev. per Employee
HK$2.16M
loading...
/zigman2/quotes/207749118/delayed
US : U.S.: OTC
$ 10.28
+0.18 +1.73%
Volume: 11,896
Feb. 19, 2020 3:45p
P/E Ratio
4.62
Dividend Yield
5.05%
Market Cap
$12.66 billion
Rev. per Employee
$276,273
loading...
/zigman2/quotes/209086152/delayed
HK : Hong Kong
HK$ 113.70
-1.30 -1.13%
Volume: 3.20M
Feb. 20, 2020 4:08p
P/E Ratio
7.34
Dividend Yield
4.35%
Market Cap
HK$333.25 billion
Rev. per Employee
HK$1.86M
loading...
/zigman2/quotes/205427525/delayed
US : U.S.: OTC
$ 14.80
+0.05 +0.30%
Volume: 53,108
Feb. 19, 2020 3:46p
P/E Ratio
7.49
Dividend Yield
4.00%
Market Cap
$42.88 billion
Rev. per Employee
$236,802
loading...
/zigman2/quotes/204116626/delayed
US : U.S.: OTC
$ 7.47
+0.19 +2.61%
Volume: 2,842
Feb. 19, 2020 1:36p
P/E Ratio
4.62
Dividend Yield
N/A
Market Cap
$22.99 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202351558/delayed
AU : Australia: Sydney
$ 11.34
+0.20 +1.80%
Volume: 16.05M
Feb. 20, 2020 4:10p
P/E Ratio
4.88
Dividend Yield
8.82%
Market Cap
$34.29 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 98.14
+0.05 +0.05%
Volume: 960,358
Feb. 20, 2020 4:10p
P/E Ratio
8.94
Dividend Yield
9.14%
Market Cap
$159.27 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 54.34
-0.08 -0.15%
Volume: 904,808
Feb. 19, 2020 6:30p
P/E Ratio
6.90
Dividend Yield
6.09%
Market Cap
$68.45 billion
Rev. per Employee
$852,406
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 28.31
+0.14 +0.51%
Volume: 3.02M
Feb. 20, 2020 4:10p
P/E Ratio
27.18
Dividend Yield
1.16%
Market Cap
$21.70 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206026738/delayed
US : U.S.: OTC
$ 18.63
+0.06 +0.32%
Volume: 2,550
Feb. 19, 2020 10:38a
P/E Ratio
25.67
Dividend Yield
N/A
Market Cap
$14.29 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205179925/delayed
AU : Australia: Sydney
$ 1.27
+0.04 +3.27%
Volume: 5.91M
Feb. 20, 2020 4:10p
P/E Ratio
214.41
Dividend Yield
N/A
Market Cap
$1.43 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202190906/delayed
US : U.S.: OTC
$ 0.81
+0.03 +3.19%
Volume: 48,460
Feb. 19, 2020 3:55p
P/E Ratio
187.91
Dividend Yield
N/A
Market Cap
$943.73 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
23,479.15
+78.45 +0.34%
Volume: 0.00
Feb. 20, 2020 3:15p
loading...
/zigman2/quotes/202728746/delayed
JP : Japan: Tokyo
¥ 813,000
+5,000 +0.62%
Volume: 3,638
Feb. 20, 2020 3:00p
P/E Ratio
39.69
Dividend Yield
2.55%
Market Cap
¥1119.25 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203165941/delayed
US : U.S.: OTC
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
0.00
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/204977526/delayed
US : U.S.: OTC
$ 80.78
-0.85 -1.04%
Volume: 398.00
Feb. 19, 2020 11:45a
P/E Ratio
17.09
Dividend Yield
1.21%
Market Cap
$26.28 billion
Rev. per Employee
$923,573
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/zigman2/quotes/205394574/delayed
JP : Japan: Tokyo
¥ 2,943.00
+23.00 +0.79%
Volume: 2.21M
Feb. 20, 2020 3:00p
P/E Ratio
17.10
Dividend Yield
1.50%
Market Cap
¥2850.10 billion
Rev. per Employee
¥101.67M
loading...
/zigman2/quotes/204837054/delayed
US : U.S.: OTC
$ 18.92
-0.30 -1.54%
Volume: 33,882
Feb. 19, 2020 3:46p
P/E Ratio
22.86
Dividend Yield
1.06%
Market Cap
$25.58 billion
Rev. per Employee
$1.31M
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/zigman2/quotes/208910776/delayed
JP : Japan: Tokyo
¥ 2,140.00
+43.50 +2.07%
Volume: 5.06M
Feb. 20, 2020 3:00p
P/E Ratio
23.68
Dividend Yield
1.45%
Market Cap
¥2838.59 billion
Rev. per Employee
¥144.30M
loading...
/zigman2/quotes/203924235/delayed
US : U.S.: OTC
$ 54.20
+0.66 +1.23%
Volume: 25,209
Feb. 19, 2020 3:51p
P/E Ratio
37.97
Dividend Yield
0.65%
Market Cap
$55.19 billion
Rev. per Employee
$369,206
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/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 59,640.00
-350.00 -0.58%
Volume: 686,700
Feb. 20, 2020 3:00p
P/E Ratio
38.10
Dividend Yield
0.84%
Market Cap
¥6123.20 billion
Rev. per Employee
¥40.83M
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/zigman2/quotes/205979659/delayed
US : U.S.: OTC
$ 20.76
-0.17 -0.81%
Volume: 95,854
Feb. 19, 2020 3:58p
P/E Ratio
10.32
Dividend Yield
4.29%
Market Cap
$19.55 billion
Rev. per Employee
$412,180
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/zigman2/quotes/204002437/delayed
JP : Japan: Tokyo
¥ 2,300.00
+3.00 +0.13%
Volume: 3.56M
Feb. 20, 2020 3:00p
P/E Ratio
10.47
Dividend Yield
4.78%
Market Cap
¥2169.27 billion
Rev. per Employee
¥45.51M
loading...
/zigman2/quotes/202637468/delayed
JP : Japan: Tokyo
¥ 1,137.00
+4.50 +0.40%
Volume: 3.18M
Feb. 20, 2020 3:00p
P/E Ratio
9.65
Dividend Yield
3.34%
Market Cap
¥835.27 billion
Rev. per Employee
¥61.23M
loading...
/zigman2/quotes/206362374/delayed
US : U.S.: OTC
$ 10.32
-0.02 -0.19%
Volume: 37,792
Feb. 19, 2020 3:46p
P/E Ratio
9.57
Dividend Yield
2.42%
Market Cap
$7.53 billion
Rev. per Employee
$554,540
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
112.1220
+0.7600 +0.6825%
Volume: 0.0000
Feb. 20, 2020 6:36a
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,522.00
+152.00 +2.06%
Volume: 6.56M
Feb. 20, 2020 3:00p
P/E Ratio
14.50
Dividend Yield
0.60%
Market Cap
¥9038.69 billion
Rev. per Employee
¥72.37M
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/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 67.07
+0.43 +0.65%
Volume: 1.23M
Feb. 19, 2020 6:30p
P/E Ratio
14.06
Dividend Yield
0.40%
Market Cap
$82.26 billion
Rev. per Employee
$654,652
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/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,491.00
+14.00 +0.95%
Volume: 1.64M
Feb. 20, 2020 3:00p
P/E Ratio
15.23
Dividend Yield
1.68%
Market Cap
¥902.22 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/207472799/delayed
US : U.S.: OTC
$ 14.32
+0.45 +3.24%
Volume: 0.00
Feb. 7, 2020 5:19p
P/E Ratio
15.92
Dividend Yield
N/A
Market Cap
$8.18 billion
Rev. per Employee
$454,670
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/zigman2/quotes/202771076/delayed
JP : Japan: Tokyo
¥ 436.00
-1.00 -0.23%
Volume: 3.94M
Feb. 20, 2020 3:00p
P/E Ratio
3.80
Dividend Yield
N/A
Market Cap
¥700.17 billion
Rev. per Employee
¥149.25M
loading...
/zigman2/quotes/204529331/delayed
US : U.S.: OTC
$ 4.01
+0.0020 +0.05%
Volume: 0.00
Feb. 14, 2020 5:20p
P/E Ratio
3.82
Dividend Yield
N/A
Market Cap
$6.34 billion
Rev. per Employee
$1.35M
loading...
/zigman2/quotes/207391157/delayed
JP : Japan: Tokyo
¥ 455.00
-5.00 -1.09%
Volume: 5.55M
Feb. 20, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥166.84 billion
Rev. per Employee
¥52.09M
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Sarah Turner is MarketWatch's bureau chief in Sydney. Follow her on Twitter @SarahTurnerMKTW. Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Follow him on Twitter @MktwKumar.

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