Bulletin
Investor Alert

New York Markets After Hours

Asia Markets Archives | Email alerts

Dec. 5, 2018, 4:28 a.m. EST

Asian stocks pare losses after China hails ‘successful’ trade talks

Financial stocks bear brunt of losses, with Hong Kong faring worst

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)
  • X
    Hang Seng Index (HSI)
  • X
    Tencent Holdings Ltd. (700)

or Cancel Already have a watchlist? Log In

By Staff and Associated Press


Reuters
The HSBC headquarters is seen at the financial Central district in Hong Kong. HSBS shares fell about 2% Wednesday.

Asian stocks fell Wednesday, tracking a brutal session on Wall Street, but optimism over the trade front after comments from the Chinese government helped stem the losses.

On Tuesday, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -4.42%   fell nearly 800 points. The yield on the benchmark 10-year Treasury note fell to its lowest level in three months, signaling that the bond market is worried about long-term economic growth. The sell-off short-circuited a recent rally on Wall Street.

The market gained Monday after the Trump administration said U.S. and China agreed to a temporary cease-fire in a trade dispute, but confusion emerged over just what was agreed. Last week, stocks jumped when the Federal Reserve’s chairman indicated the central bank could slow the pace of interest rate increases.

Fresh comment on the trade front from China appeared to help keep a lid on selling. A spokesman for China’s Ministry of Commerce said in a statement Wednesday that it will begin implementing measures agreed with the U.S. “immediately,” acknowledging the 90-day timetable for trade talks referenced by U.S. President Donald Trump on Tuesday.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.31%  closed down 1.6%, with tech stocks seeing pressure — Tencent /zigman2/quotes/204605823/delayed HK:700 -0.10%   shedding 2.3% and smartphone-component firms AAC /zigman2/quotes/201441510/delayed HK:2018 -1.35%   and Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.39%   off 3.7% and 7.3%, respectively. Banks also fell, with HSBC /zigman2/quotes/202687335/delayed HK:5 +0.81%   down 2% and China Construction Bank /zigman2/quotes/208974133/delayed HK:939 +1.90%   off 2.7%. In mainland China, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.11%   finished off 0.6% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.24%  ended with a 0.2% rise.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -2.13%   closed 0.5% lower, with financial stocks faring poorly — insurer Dai-Ichi Life /zigman2/quotes/208507587/delayed JP:8750 -3.01%   and Nomura /zigman2/quotes/206251373/delayed JP:8604 -4.34%   fell around 3% each. Robotics maker Fanuc /zigman2/quotes/202054799/delayed JP:6954 -2.81%   dropped more than 3%.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.05%   dropped 0.7%, with Samsung /zigman2/quotes/209800866/delayed KR:005930 -1.06%   down 1.7%. Benchmarks in Taiwan   and Singapore /zigman2/quotes/210597985/delayed SG:STI -0.19%   fell 1.7% and 0.5%, respectively.

Australia’s S&P ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.75%   dropped around 0.8% after third-quarter GDP data came in below expectations. Banking stocks again took a hit, with Westpac /zigman2/quotes/203084975/delayed AU:WBC -1.34%  , Commonwealth Bank /zigman2/quotes/200638713/delayed AU:CBA -1.08%   and ANZ Banking Group /zigman2/quotes/205482049/delayed AU:ANZ -2.07%   all down more than 1%. New Zealand’s benchmark /zigman2/quotes/211587880/delayed NZ:NZ50GR -2.51%   closed nearly 1% lower.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
25,766.64
-1,191 -4.42%
Volume: 664.98M
Feb. 27, 2020 4:20p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,778.62
+82.13 +0.31%
Volume: 2.11M
Feb. 27, 2020 4:08p
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 399.20
-0.40 -0.10%
Volume: 19.18M
Feb. 27, 2020 4:08p
P/E Ratio
38.91
Dividend Yield
0.25%
Market Cap
HK$3786.87 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 54.65
-0.75 -1.35%
Volume: 10.13M
Feb. 27, 2020 4:08p
P/E Ratio
20.85
Dividend Yield
2.62%
Market Cap
HK$66.95 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 127.90
-0.50 -0.39%
Volume: 8.42M
Feb. 27, 2020 4:08p
P/E Ratio
44.48
Dividend Yield
0.52%
Market Cap
HK$140.84 billion
Rev. per Employee
HK$1.08M
loading...
/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 54.40
+0.44 +0.81%
Volume: 47.34M
Feb. 27, 2020 4:08p
P/E Ratio
23.01
Dividend Yield
7.31%
Market Cap
HK$1129.44 billion
Rev. per Employee
HK$2.88M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.44
+0.12 +1.90%
Volume: 466.21M
Feb. 27, 2020 4:08p
P/E Ratio
5.40
Dividend Yield
5.42%
Market Cap
HK$1580.07 billion
Rev. per Employee
HK$3.31M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,991.33
+3.40 +0.11%
Volume: 35.05B
Feb. 27, 2020 3:01p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,895.13
+4.53 +0.24%
Volume: 55.17B
Feb. 27, 2020 3:00p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
21,948.23
-477.96 -2.13%
Volume: 0.00
Feb. 27, 2020 3:15p
loading...
/zigman2/quotes/208507587/delayed
JP : Japan: Tokyo
¥ 1,528.00
-47.50 -3.01%
Volume: 5.65M
Feb. 27, 2020 3:00p
P/E Ratio
8.67
Dividend Yield
4.06%
Market Cap
¥1783.80 billion
Rev. per Employee
¥103.65M
loading...
/zigman2/quotes/206251373/delayed
JP : Japan: Tokyo
¥ 505.20
-22.90 -4.34%
Volume: 23.70M
Feb. 27, 2020 3:00p
P/E Ratio
6.68
Dividend Yield
5.94%
Market Cap
¥1632.72 billion
Rev. per Employee
¥65.89M
loading...
/zigman2/quotes/202054799/delayed
JP : Japan: Tokyo
¥ 18,705.00
-540.00 -2.81%
Volume: 1.16M
Feb. 27, 2020 3:00p
P/E Ratio
44.00
Dividend Yield
N/A
Market Cap
¥3693.13 billion
Rev. per Employee
¥95.87M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,054.89
-21.88 -1.05%
Volume: 562,775
Feb. 27, 2020 3:32p
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
55,900.00
-600.00 -1.06%
Volume: 23.21M
Feb. 27, 2020 3:30p
P/E Ratio
17.66
Dividend Yield
2.53%
Market Cap
₩383786.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,111.70
-5.82 -0.19%
Volume: 0.00
Feb. 27, 2020 5:20p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,657.90
-50.20 -0.75%
Volume: 50,331
Feb. 28, 2020 8:36a
loading...
/zigman2/quotes/203084975/delayed
AU : Australia: Sydney
$ 24.33
-0.33 -1.34%
Volume: 1.09M
Feb. 27, 2020 4:10p
P/E Ratio
12.85
Dividend Yield
7.15%
Market Cap
$88.90 billion
Rev. per Employee
$1.09M
loading...
/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 84.43
-0.92 -1.08%
Volume: 2.37M
Feb. 27, 2020 4:10p
P/E Ratio
15.55
Dividend Yield
5.10%
Market Cap
$151.02 billion
Rev. per Employee
$919,022
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 25.53
-0.54 -2.07%
Volume: 1.05M
Feb. 27, 2020 4:10p
P/E Ratio
12.70
Dividend Yield
8.55%
Market Cap
$73.94 billion
Rev. per Employee
$908,476
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
11,150.08
-287.09 -2.51%
Volume: 0.00
Feb. 28, 2020 10:52a
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.