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July 11, 2012, 4:34 a.m. EDT

Shanghai, Hong Kong stocks rebound; Tokyo retreats

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By Virginia Harrison and V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Japanese and Australian shares on Wednesday ended modestly lower for a fifth straight day of losses, amid fears about Chinese growth and deepening European debt troubles.

Hong Kong and mainland Chinese stocks rebounded after a string of recent losses, with the latter in particular bouncing off six-month lows, on bargain buying in construction-related and transportation sectors.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +2.55%  slipped 0.1% and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.46%  ended marginally lower. Completing a four-day losing streak, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.54% shed 0.2%.

Overcoming early weakness, Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +2.57%  ended 0.1% higher, Taiwan’s Taiex inched up 0.1% and China’s Shanghai Composite /zigman2/quotes/206600939/delayed CN:000001 +3.33% climbed 0.5%.

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The gains in Shanghai came after Chinese Premier Wen Jiabao said Tuesday the government’s top priority now was to stabilize economic growth. Read more on Premier Wen's comments.

After a soft set of inflation and trade data for June, investors are now keenly awaiting China’s second-quarter gross domestic product data.

Michael McCarthy, chief market strategist at CMC Markets in Sydney, said investors are “outright fearful” about China’s upcoming GDP data.

“The global market is looking for things that could go wrong. China’s trade surplus showed a growth in exports, but we focused on the weaker-than-expected imports,” McCarthy said. “For the short-term, it means trading remains range-bound.”

In Shanghai trade, Anhui Conch Cement Co. /zigman2/quotes/204422624/delayed CN:600585 +1.75%  rose 2.8%, China Railway Group Ltd. /zigman2/quotes/200210795/delayed CN:601390 +0.88%   /zigman2/quotes/206114870/delayed CRWOF -1.69% gained 2%, shipping firm China Cosco Holdings Co. /zigman2/quotes/200656011/delayed CN:601866 +1.20% /zigman2/quotes/209590400/delayed CITAY 0.00%  climbed 0.9% and Anhui Jianghuai Automobile Co. /zigman2/quotes/202792755/delayed CN:600418 -0.60%  added 0.6%. The stocks are all still down in the week so far.

In Hong Kong, a rebound in insurance shares helped offset losses for several Chinese banks. China Life Insurance Co. /zigman2/quotes/202359856/delayed HK:2628 +3.60% /zigman2/quotes/206573290/composite LFC +0.74%  climbed 1.4% and AIA Group Ltd. /zigman2/quotes/203565558/delayed HK:1299 +3.64%  rose 0.9%, while China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 +1.72% /zigman2/quotes/207732534/delayed CICHY -0.55%  tumbled 3% and Industrial & Commercial Bank of China Ltd. /zigman2/quotes/201401473/delayed HK:1398 +2.29%   /zigman2/quotes/202401350/delayed IDCBY 0.00%  fell 1.9%.

Among other notable movers, China Southern Airlines Co. /zigman2/quotes/208800010/delayed HK:1055 +4.80% /zigman2/quotes/210515916/delayed CN:600029 +2.24%   /zigman2/quotes/206691352/composite ZNH +0.09%  dropped 2.6% in Shanghai after the carrier warned its earnings for the first half of 2012 could come in 50% below those of a year earlier. However, the airline’s Hong Kong-listed stocks ended 1.2% higher, staging a rebound in line with the broader market. Read more on China Southern profit warnings.

In Tokyo, Europe-exposed names were pressured, as the euro fell to near the ¥97 level /zigman2/quotes/210561215/realtime/sampled EURJPY -0.0754%  against the Japanese yen.

Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 +1.94%   /zigman2/quotes/208567357/composite SNE +0.37% dropped 2.2% and Mazda Motor Corp. /zigman2/quotes/204777714/delayed JP:7261 +3.72%   /zigman2/quotes/206646681/delayed MZDAF -4.62%  fell 2%.

Shares of Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 +0.90% /zigman2/quotes/207472799/delayed SHCAF -0.71%  fell 1.7% to extend Tuesday losses after announcing a special charge related to a legal settlement.

In Sydney, shares of Alumina Ltd. /zigman2/quotes/210515632/delayed AU:AWC +3.03%  sank 4.3% after its joint-venture partner Alcoa Inc. /zigman2/quotes/200686102/composite AA -2.68%  took a 4.1% hit in U.S. trade.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
24,023.10
+598.29 +2.55%
Volume: 0.00
Dec. 13, 2019 3:15p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,739.70
+30.90 +0.46%
Volume: 646,001
Dec. 13, 2019 5:16p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,170.25
+32.90 +1.54%
Volume: 540,027
Dec. 13, 2019 6:01p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,687.76
+693.62 +2.57%
Volume: 2.21M
Dec. 13, 2019 4:08p
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 16.12
+0.52 +3.33%
Volume: 105.31M
Dec. 13, 2019 3:00p
P/E Ratio
10.70
Dividend Yield
0.90%
Market Cap
¥267.86 billion
Rev. per Employee
¥6.12M
loading...
/zigman2/quotes/204422624/delayed
CN : China: Shanghai
¥ 48.85
+0.84 +1.75%
Volume: 31.29M
Dec. 13, 2019 3:00p
P/E Ratio
7.87
Dividend Yield
3.46%
Market Cap
¥254.42 billion
Rev. per Employee
¥2.89M
loading...
/zigman2/quotes/200210795/delayed
CN : China: Shanghai
¥ 5.76
+0.05 +0.88%
Volume: 34.03M
Dec. 13, 2019 3:00p
P/E Ratio
6.73
Dividend Yield
2.22%
Market Cap
¥140.30 billion
Rev. per Employee
¥2.51M
loading...
/zigman2/quotes/206114870/delayed
US : U.S.: OTC
$ 0.58
-0.01 -1.69%
Volume: 250.00
Dec. 12, 2019 12:09p
P/E Ratio
4.66
Dividend Yield
N/A
Market Cap
$14.25 billion
Rev. per Employee
$383,311
loading...
/zigman2/quotes/200656011/delayed
CN : China: Shanghai
¥ 2.52
+0.03 +1.20%
Volume: 21.25M
Dec. 13, 2019 3:00p
P/E Ratio
15.66
Dividend Yield
1.31%
Market Cap
¥28.79 billion
Rev. per Employee
¥2.12M
loading...
/zigman2/quotes/209590400/delayed
US : U.S.: OTC
$ 11.40
0.00 0.00%
Volume: 0.00
July 10, 2019 4:19p
P/E Ratio
9.73
Dividend Yield
N/A
Market Cap
$414.43 million
Rev. per Employee
$324,290
loading...
/zigman2/quotes/202792755/delayed
CN : China: Shanghai
¥ 4.93
-0.03 -0.60%
Volume: 15.65M
Dec. 13, 2019 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥9.39 billion
Rev. per Employee
¥1.62M
loading...
/zigman2/quotes/202359856/delayed
HK : Hong Kong
HK$ 21.60
+0.75 +3.60%
Volume: 72.60M
Dec. 13, 2019 4:08p
P/E Ratio
10.82
Dividend Yield
0.84%
Market Cap
HK$589.32 billion
Rev. per Employee
HK$7.60M
loading...
/zigman2/quotes/206573290/composite
US : U.S.: NYSE
$ 13.59
+0.10 +0.74%
Volume: 427,741
Dec. 13, 2019 6:30p
P/E Ratio
10.68
Dividend Yield
0.62%
Market Cap
$20.08 billion
Rev. per Employee
$970,796
loading...
/zigman2/quotes/203565558/delayed
HK : Hong Kong
HK$ 82.65
+2.90 +3.64%
Volume: 32.96M
Dec. 13, 2019 4:08p
P/E Ratio
26.33
Dividend Yield
1.43%
Market Cap
HK$960.78 billion
Rev. per Employee
HK$12.98M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.51
+0.11 +1.72%
Volume: 431.15M
Dec. 13, 2019 4:08p
P/E Ratio
5.46
Dividend Yield
5.36%
Market Cap
HK$1600.07 billion
Rev. per Employee
HK$3.31M
loading...
/zigman2/quotes/207732534/delayed
US : U.S.: OTC
$ 16.42
-0.09 -0.55%
Volume: 97,361
Dec. 13, 2019 3:58p
P/E Ratio
5.34
Dividend Yield
4.59%
Market Cap
$197.13 billion
Rev. per Employee
$422,749
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 5.80
+0.13 +2.29%
Volume: 257.57M
Dec. 13, 2019 4:08p
P/E Ratio
5.85
Dividend Yield
4.91%
Market Cap
HK$2020.82 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/202401350/delayed
US : U.S.: OTC
$ 14.65
0.00 0.00%
Volume: 46,755
Dec. 13, 2019 3:47p
P/E Ratio
5.83
Dividend Yield
4.14%
Market Cap
$63.05 billion
Rev. per Employee
$387,287
loading...
/zigman2/quotes/208800010/delayed
HK : Hong Kong
HK$ 5.24
+0.24 +4.80%
Volume: 39.28M
Dec. 13, 2019 4:08p
P/E Ratio
19.51
Dividend Yield
1.09%
Market Cap
HK$61.34 billion
Rev. per Employee
HK$1.74M
loading...
/zigman2/quotes/210515916/delayed
CN : China: Shanghai
¥ 6.86
+0.15 +2.24%
Volume: 117.30M
Dec. 13, 2019 3:00p
P/E Ratio
29.15
Dividend Yield
0.73%
Market Cap
¥82.31 billion
Rev. per Employee
¥1.46M
loading...
/zigman2/quotes/206691352/composite
US : U.S.: NYSE
$ 32.92
+0.03 +0.09%
Volume: 22,126
Dec. 13, 2019 6:30p
P/E Ratio
19.22
Dividend Yield
0.94%
Market Cap
$2.41 billion
Rev. per Employee
$222,248
loading...
/zigman2/quotes/210561215/realtime/sampled
US : Tullett Prebon
121.5882
-0.0918 -0.0754%
Volume: 0.0000
Dec. 13, 2019 4:59p
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,443.00
+142.00 +1.94%
Volume: 8.87M
Dec. 13, 2019 3:00p
P/E Ratio
11.16
Dividend Yield
0.54%
Market Cap
¥8983.05 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 67.57
+0.25 +0.37%
Volume: 1.02M
Dec. 13, 2019 6:30p
P/E Ratio
11.22
Dividend Yield
0.34%
Market Cap
$82.83 billion
Rev. per Employee
$654,652
loading...
/zigman2/quotes/204777714/delayed
JP : Japan: Tokyo
¥ 977.00
+35.00 +3.72%
Volume: 5.41M
Dec. 13, 2019 3:00p
P/E Ratio
11.05
Dividend Yield
3.58%
Market Cap
¥593.26 billion
Rev. per Employee
¥71.32M
loading...
/zigman2/quotes/206646681/delayed
US : U.S.: OTC
$ 8.47
-0.41 -4.62%
Volume: 1,582
Dec. 12, 2019 12:47p
P/E Ratio
10.55
Dividend Yield
N/A
Market Cap
$5.33 billion
Rev. per Employee
$646,191
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,676.00
+15.00 +0.90%
Volume: 1.77M
Dec. 13, 2019 3:00p
P/E Ratio
17.70
Dividend Yield
1.49%
Market Cap
¥1014.62 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/207472799/delayed
US : U.S.: OTC
$ 15.47
-0.11 -0.71%
Volume: 500.00
Dec. 13, 2019 9:30a
P/E Ratio
18.03
Dividend Yield
N/A
Market Cap
$9.52 billion
Rev. per Employee
$454,670
loading...
/zigman2/quotes/210515632/delayed
AU : Australia: Sydney
$ 2.38
+0.07 +3.03%
Volume: 12.71M
Dec. 13, 2019 4:10p
P/E Ratio
8.78
Dividend Yield
10.98%
Market Cap
$6.65 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200686102/composite
US : U.S.: NYSE
$ 20.69
-0.57 -2.68%
Volume: 4.33M
Dec. 13, 2019 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.95 billion
Rev. per Employee
$965,500
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Virginia Harrison is a MarketWatch reporter based in Sydney. Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau.

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