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Aug. 27, 2018, 5:21 a.m. EDT

Asian stock markets: Shanghai and Hong Kong jump on PBOC move

Steel companies boost Nikkei; Hang Seng at 2-week closing high

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By Dow Jones Newswire


Bloomberg News
Kobe Steel Ltd. shares were up 1.6% early Monday.

Asian stock markets broadly gained on Monday, aided by China’s efforts to support the yuan.

The People’s Bank of China tweaked the way it sets the currency’s official value each day, a move seen as an effort to curb both outflows from the stock market and as an olive branch in the continuing U.S.-China trade disputes.

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.31% jumped to its highest close in nearly two weeks. The index closed up 1.9% at 2,780.90. Airlines and other consumer staples were among the day’s winners. The smaller Shenzhen Index /zigman2/quotes/210598015/delayed CN:399106 +1.12% rose 2.5% to 1,496.71.

In Hong Kong, the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -1.09% jumped 2.2% to 28,271.27, a two-week closing high. Energy shares shined, with Sinopec /zigman2/quotes/202085942/delayed HK:386 -0.47%  jumping 5.1% after its first-half results and PetroChina /zigman2/quotes/204979431/delayed HK:857 -1.17%  gaining 3.6%. Brilliance China Automotive Holdings /zigman2/quotes/202811724/delayed HK:1114 +1.81% popped 15%, the most in eight years, after first-half reports late Friday. Tech heavyweight Tencent /zigman2/quotes/204605823/delayed HK:700 -2.20% rose 2%, turning positive for August.

The iron-and-steel sector led gains in Japan, helping push the Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.39% up 0.9% to 22,799.64 for its first five-day wining streak since April. Kobe Steel /zigman2/quotes/207391157/delayed JP:5406 -1.54%  rose 1.4%, Sumitomo Metal /zigman2/quotes/205273301/delayed JP:5713 -0.42% climbed 1.6%and Aichi Steel /zigman2/quotes/208589746/delayed JP:5482 +1.49% firmed 1.1%. Toyota /zigman2/quotes/203803129/delayed JP:7203 +1.10% jumped 2%.

Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.49% added 0.3% following its best week since early March. Construction stocks were down sharply, with cement firm Busan /zigman2/quotes/202117791/delayed KR:011390 -3.59% skidding 10%.

New Zealand stocks rallied in the last two hours of trading, logging another record closing high amid strong gains elsewhere in the region. The NZX 50 /zigman2/quotes/211587880/delayed NZ:NZ50GR +0.07% rose 0.55% to 9,209.84, the fourth record in a week and ninth gain in 10 sessions.

Australia’s S&{/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.33% added 0.35%, and benchmarks in Taiwan , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.55% and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.25% also ended higher.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,039.67
+9.52 +0.31%
Volume: 36.46B
Feb. 21, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,907.35
+21.21 +1.12%
Volume: 60.04B
Feb. 21, 2020 3:00p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,308.81
-300.35 -1.09%
Volume: 1.77M
Feb. 21, 2020 4:08p
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/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 4.21
-0.02 -0.47%
Volume: 93.16M
Feb. 21, 2020 4:08p
P/E Ratio
9.75
Dividend Yield
9.99%
Market Cap
HK$512.13 billion
Rev. per Employee
HK$7.40M
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 3.38
-0.04 -1.17%
Volume: 241.87M
Feb. 21, 2020 4:08p
P/E Ratio
12.97
Dividend Yield
4.66%
Market Cap
HK$625.93 billion
Rev. per Employee
HK$5.32M
loading...
/zigman2/quotes/202811724/delayed
HK : Hong Kong
HK$ 7.31
+0.13 +1.81%
Volume: 19.33M
Feb. 21, 2020 4:08p
P/E Ratio
5.85
Dividend Yield
1.50%
Market Cap
HK$36.23 billion
Rev. per Employee
HK$910,269
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 401.00
-9.00 -2.20%
Volume: 17.45M
Feb. 21, 2020 4:08p
P/E Ratio
39.09
Dividend Yield
0.25%
Market Cap
HK$3885.42 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
23,386.74
-92.41 -0.39%
Volume: 0.00
Feb. 21, 2020 3:15p
loading...
/zigman2/quotes/207391157/delayed
JP : Japan: Tokyo
¥ 448.00
-7.00 -1.54%
Volume: 7.22M
Feb. 21, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥165.03 billion
Rev. per Employee
¥52.09M
loading...
/zigman2/quotes/205273301/delayed
JP : Japan: Tokyo
¥ 3,050.00
-13.00 -0.42%
Volume: 1.09M
Feb. 21, 2020 3:00p
P/E Ratio
16.31
Dividend Yield
2.23%
Market Cap
¥841.66 billion
Rev. per Employee
¥134.46M
loading...
/zigman2/quotes/208589746/delayed
JP : Japan: Tokyo
¥ 3,400.00
+50.00 +1.49%
Volume: 28,900
Feb. 21, 2020 3:00p
P/E Ratio
8.24
Dividend Yield
3.53%
Market Cap
¥65.94 billion
Rev. per Employee
¥51.92M
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 7,837.00
+85.00 +1.10%
Volume: 5.15M
Feb. 21, 2020 3:00p
P/E Ratio
9.06
Dividend Yield
2.81%
Market Cap
¥21916.10 billion
Rev. per Employee
¥81.43M
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,162.84
-32.66 -1.49%
Volume: 635,474
Feb. 21, 2020 3:33p
loading...
/zigman2/quotes/202117791/delayed
KR : S. Korea: KRX
121,000
-4,500 -3.59%
Volume: 12,922
Feb. 21, 2020 3:30p
P/E Ratio
29.86
Dividend Yield
0.21%
Market Cap
₩132.53 billion
Rev. per Employee
₩2.55B
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
12,073.34
+8.48 +0.07%
Volume: 0.00
Feb. 21, 2020 5:01p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,139.00
-23.50 -0.33%
Volume: 1.07M
Feb. 21, 2020 5:17p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,181.03
-17.65 -0.55%
Volume: 0.00
Feb. 21, 2020 5:20p
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,531.20
-3.78 -0.25%
Volume: 0.00
Feb. 21, 2020 5:05p
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