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Nov. 27, 2018, 6:38 a.m. EST

Asian markets cool off as investors await Trump-Xi meeting

Nikkei firm but gives up session highs, Hang Seng sluggish

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By Dow Jones Newswires


AFP/Getty Images
Workers check inflatable snowmen for export at a factory in Huaibei, China.

Asia-Pacific stock markets largely cooled Tuesday as the previous day’s global gains appear to have stalled ahead of a weekend meeting between President Donald Trump and China’s President Xi Jinping over trade.

Read: China opens doors to foreign business ahead of G-20 summit

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -3.67%  rose 0.6%. Panasonic /zigman2/quotes/201785256/delayed JP:6752 -4.85%   was up 2.7% and Renesas Electronics /zigman2/quotes/203872935/delayed JP:6723 -7.00%   climbed 2% amid hopes for a strong U.S. holiday-shopping season. But so-called domestic-demand stocks that had recently attracted buying amid global-growth concerns were down. Pharmaceuticals and utilities were the two worst-performing sectors, as the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -1.3670%   was around ¥113.46, versus ¥113.21 as of Monday’s Tokyo stock market close.

Hong Kong‘s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.42%  firmed early on but finished down nearly 0.2%, with property stocks weak after Monday’s gains. Energy was also lagging with oil prices sliding, though tech names were up modestly; Cnooc /zigman2/quotes/203421416/delayed HK:883 -4.47%   was off 2% while Tencent /zigman2/quotes/204605823/delayed HK:700 -3.31%   rose nearly 2%. Meanwhile, Tingyi shares /zigman2/quotes/208969648/delayed HK:322 -0.56%   logged one of its worst days ever as the China-based instant noodle/beverage maker reported what analysts at Jefferies call an unexpected revenue drop last quarter.

Chinese stocks were higher, led by small caps. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -3.71%   started firmer but ended down less than 0.1%, versus a 0.4% gain for the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -4.93%  . Tech companies were doing well after recent weakness, and oil names were up after Monday’s slump.

Australia’s benchmark /zigman2/quotes/210598100/delayed AU:XJO -3.25%   rose 1% as energy companies gained. New Zealand stocks /zigman2/quotes/211587880/delayed NZ:NZ50GR -1.54%   were up slightly as well.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -3.30%   rose as Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 -4.96%   jumped about 6%. Taiwan’s Taiex   slipped initially as Foxconn /zigman2/quotes/204111604/delayed TW:2354 -0.17%  fell nearly 1% but the main index finished in the green. Singapore’s benchmark index /zigman2/quotes/210597985/delayed SG:STI -3.23%   was about flat.

/zigman2/quotes/210597971/delayed
JP : Nikkei
21,142.96
-805.27 -3.67%
Volume: 0.00
Feb. 28, 2020 3:15p
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/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 1,030.50
-52.50 -4.85%
Volume: 16.25M
Feb. 28, 2020 3:00p
P/E Ratio
8.33
Dividend Yield
2.91%
Market Cap
¥2404.02 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 651.00
-49.00 -7.00%
Volume: 13.72M
Feb. 28, 2020 3:00p
P/E Ratio
510.11
Dividend Yield
N/A
Market Cap
¥1113.40 billion
Rev. per Employee
¥36.92M
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.0890
-1.4980 -1.3670%
Volume: 0.0000
Feb. 28, 2020 4:59p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,129.93
-648.69 -2.42%
Volume: 3.19M
Feb. 28, 2020 4:09p
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 10.68
-0.50 -4.47%
Volume: 138.64M
Feb. 28, 2020 4:08p
P/E Ratio
7.22
Dividend Yield
6.84%
Market Cap
HK$476.84 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 386.00
-13.20 -3.31%
Volume: 31.92M
Feb. 28, 2020 4:08p
P/E Ratio
37.62
Dividend Yield
0.26%
Market Cap
HK$3657.98 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/208969648/delayed
HK : Hong Kong
HK$ 14.18
-0.08 -0.56%
Volume: 10.78M
Feb. 28, 2020 4:08p
P/E Ratio
N/A
Dividend Yield
1.77%
Market Cap
HK$79.75 billion
Rev. per Employee
HK$1.27M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,880.30
-111.03 -3.71%
Volume: 40.12B
Feb. 28, 2020 3:01p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,801.75
-93.39 -4.93%
Volume: 61.09B
Feb. 28, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,441.20
-216.70 -3.25%
Volume: 1.52M
Feb. 28, 2020 5:29p
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
11,261.16
-176.01 -1.54%
Volume: 0.00
Feb. 28, 2020 5:00p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,987.01
-67.88 -3.30%
Volume: 671,551
Feb. 28, 2020 3:33p
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
115,000
-6,000 -4.96%
Volume: 1.78M
Feb. 28, 2020 3:30p
P/E Ratio
14.79
Dividend Yield
3.48%
Market Cap
₩30248.30 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204111604/delayed
TW : Taiwan
NT$ 59.50
-0.10 -0.17%
Volume: 3.47M
Feb. 27, 2020 1:30p
P/E Ratio
9.36
Dividend Yield
5.38%
Market Cap
NT$84.16 billion
Rev. per Employee
NT$888.52M
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,011.08
-100.62 -3.23%
Volume: 0.00
Feb. 28, 2020 5:20p
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