Asian markets bounce back, led by gains in China

By Dow Jones Newswire

Bloomberg News

Residential buildings stand illuminated at dusk in Hong Kong, where the Hang Seng Index rose more than 1% Tuesday.

Stock markets in Asia started higher Tuesday, a day after the region’s largest indexes lost about 1% each.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -2.13%   gained 0.6% on a yen pullback as the index erased nearly half its Monday’s slide. Insurance and financial companies led the gains, with Sumitomo Mitsui Financial Group /zigman2/quotes/203656770/delayed JP:8316 +0.24%   up 1.4% and Mitsubishi UFJ Financial Group /zigman2/quotes/207520099/delayed JP:8306 0.00%   rising 1%. Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 -5.45%   slipped 0.5%.

Chinese large caps were some of Asia’s best performers Tuesday morning, repeating the place they held Monday, as financials continued to climb. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -2.05%   was up 1.6% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -2.90%   was up 1.3%.

Changsheng Bio-Technology   was down for a seventh straight day amid a rabies-vaccine scandal facing the company. The Shenzhen Stock Exchange has restricted controlling shareholders and senior management of Changsheng from selling, and the stock is also at risk of delisting. In falling 10% Tuesday, shares have been more than halved since the start of last week.

Hong Kong stocks opened higher after modest gains Monday as the market continues efforts to provide breathing room from some of its lowest levels in a year. The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -2.15%   was up 1.2%. China Construction Bank /zigman2/quotes/208974133/delayed HK:939 -0.31%   and ICBC /zigman2/quotes/201401473/delayed HK:1398 0.00%   were both up around 3%. Smartphone-component firms AAC /zigman2/quotes/201441510/delayed HK:2018 -0.58%   and Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -6.75%   rebounded strongly after Monday’s 2% drops.

In Australia, the S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.84%   was up 0.6%, helped by solid starts in health care and materials. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.28%   rose 0.2% and New Zealand’s NZX 50 /zigman2/quotes/211587880/delayed NZ:NZ50GR -1.09%   was barely higher after having dropped for nine of the past 11 sessions. Stocks in Taiwan   were about flat.

/zigman2/quotes/210597971/delayed

Add to watchlist JP:NIK

NIKKEI 225 Index

JP : Nikkei

28,930.11

-628.99 -2.13%

Volume: 0.00

March 4, 2021 3:15p

/zigman2/quotes/203656770/delayed

Add to watchlist JP:8316

Sumitomo Mitsui Financial Group Inc.

JP : Japan: Tokyo

¥ 3,812.00

+9.00 +0.24%

Volume: 7.44M

March 4, 2021 3:00p

P/E Ratio

9.91

Dividend Yield

4.98%

Market Cap

¥5162.41 billion

Rev. per Employee

¥60.34M

/zigman2/quotes/207520099/delayed

Add to watchlist JP:8306

Mitsubishi UFJ Financial Group Inc.

JP : Japan: Tokyo

¥ 566.00

0.00 0.00%

Volume: 65.77M

March 4, 2021 3:00p

P/E Ratio

13.25

Dividend Yield

4.42%

Market Cap

¥7212.28 billion

Rev. per Employee

¥48.47M

/zigman2/quotes/200663563/delayed

Add to watchlist JP:9983

Fast Retailing Co. Ltd.

JP : Japan: Tokyo

¥ 99,230.00

-5,720 -5.45%

Volume: 1.08M

March 4, 2021 3:00p

P/E Ratio

112.99

Dividend Yield

0.48%

Market Cap

¥10691.51 billion

Rev. per Employee

¥34.80M

/zigman2/quotes/210598127/delayed

Add to watchlist CN:SHCOMP

Shanghai Composite Index

CN : China: Shanghai

3,503.49

-73.41 -2.05%

Volume: 39.36B

March 4, 2021 3:01p

/zigman2/quotes/210598015/delayed

Add to watchlist CN:399106

Shenzhen Composite Index

CN : Shenhzen Stock Exchange

2,294.67

-68.44 -2.90%

Volume: 39.42B

March 4, 2021 3:00p

/zigman2/quotes/210598030/delayed

Add to watchlist HK:HSI

Hang Seng Index

HK : Hong Kong Exchange

29,236.79

-643.63 -2.15%

Volume: 2.96M

March 4, 2021 4:08p

/zigman2/quotes/208974133/delayed

Add to watchlist HK:0939

China Construction Bank Corp.

HK : Hong Kong

HK$ 6.38

-0.02 -0.31%

Volume: 462.04M

March 4, 2021 4:08p

P/E Ratio

5.81

Dividend Yield

5.48%

Market Cap

HK$1538.03 billion

Rev. per Employee

HK$3.58M

/zigman2/quotes/201401473/delayed

Add to watchlist HK:1398

Industrial & Commercial Bank of China Ltd.

HK : Hong Kong

HK$ 5.28

0.00 0.00%

Volume: 428.42M

March 4, 2021 4:08p

P/E Ratio

5.86

Dividend Yield

5.44%

Market Cap

HK$2143.38 billion

Rev. per Employee

HK$3.26M

/zigman2/quotes/201441510/delayed

Add to watchlist HK:2018

AAC Technologies Holdings Inc.

HK : Hong Kong

HK$ 43.00

-0.25 -0.58%

Volume: 8.47M

March 4, 2021 4:08p

P/E Ratio

26.37

Dividend Yield

0.23%

Market Cap

HK$51.72 billion

Rev. per Employee

HK$514,884

/zigman2/quotes/206687505/delayed

Add to watchlist HK:2382

Sunny Optical Technology Group Co. Ltd.

HK : Hong Kong

HK$ 190.60

-13.80 -6.75%

Volume: 7.91M

March 4, 2021 4:08p

P/E Ratio

43.72

Dividend Yield

0.42%

Market Cap

HK$218.38 billion

Rev. per Employee

HK$2.13M

/zigman2/quotes/210598100/delayed

Add to watchlist AU:XJO

S&P/ASX 200 Benchmark Index

AU : S&P ASX

6,760.70

-57.30 -0.84%

Volume: 737,485

March 4, 2021 5:30p

/zigman2/quotes/210598069/delayed

Add to watchlist KR:SEU

KOSPI Composite Index

KR : Korea Exchange

3,043.49

-39.50 -1.28%

Volume: 1.28M

March 4, 2021 3:32p

/zigman2/quotes/211587880/delayed

Add to watchlist NZ:NZ50GR

S&P/NZX 50 Gross Index

NZ : New Zealand: NZX

12,224.50

-134.76 -1.09%

Volume: 0.00

March 4, 2021 5:00p