Asian markets little changed despite U.S.-China trade deal

By Marketwatch and Associated Press

Bloomberg News

The Avenue of Stars is seen in Tsim Sha Tsui district of Hong Kong on Sunday.

Asian markets were muted in early trading Monday despite Friday’s news that the U.S. and China have agreed on a “phase one” trade deal.

U.S. Trade Representative Robert Lighthizer said Sunday that the deal “is totally done, absolutely,” adding that China committed to buy $40 billion of American farm products over the next two years. and promised to end its long-standing practice of pressuring companies to hand over their technology as a condition of market access. China on Sunday said it would postpone punitive tariffs against U.S.-made autos and other goods following the trade agreement.

“For now, escalation seems to be off the table. However, the path to the comprehensive agreement is still miles away,” Stephen Innes, chief Asia market strategist at AxiTrader wrote in a note Sunday. “Ultimately, [the] phase-one deal fell short of market expectations and is probably not enough to fully restore business confidence or generate a meaningful recovery in exports or investment.”

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -1.37%   was about flat, and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.29%   slipped 0.3%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.77%   rose slightly, while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.83%   gained 0.8%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.75%   was little changed, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -1.32%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -1.21%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.29%   inched up. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.37%   jumped 1.6%.

Among individual stocks, Yahoo Japan parent Z Holdings /zigman2/quotes/207641152/delayed JP:4689 -2.48%   gained in Tokyo trading, as did convenience-store chain FamilyMart   and SoftBank /zigman2/quotes/207303954/delayed JP:9984 -3.17%  . In Hong Kong, Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -3.28%   and Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 -0.97%   rose, while AIA Group /zigman2/quotes/203565558/delayed HK:1299 -1.53%   declined. Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 -1.54%   fell in South Korea while BHP /zigman2/quotes/201448516/delayed AU:BHP -1.21%   and Westpac /zigman2/quotes/203084975/delayed AU:WBC -2.51%   advanced in Australia.

/zigman2/quotes/210597971/delayed

Add to watchlist JP:NIK

NIKKEI 225 Index

JP : Nikkei

32,571.03

-452.75 -1.37%

Volume: 0.00

Sept. 21, 2023 3:15p

/zigman2/quotes/210598030/delayed

Add to watchlist HK:HSI

Hang Seng Index

HK : Hong Kong Exchange

17,655.41

-230.19 -1.29%

Volume: 2.05M

Sept. 21, 2023 4:08p

/zigman2/quotes/210598127/delayed

Add to watchlist CN:SHCOMP

Shanghai Composite Index

CN : China: Shanghai

3,084.70

-23.87 -0.77%

Volume: 22.87B

Sept. 21, 2023 3:00p

/zigman2/quotes/210598015/delayed

Add to watchlist CN:399106

Shenzhen Composite Index

CN : Shenhzen Stock Exchange

1,877.64

-15.76 -0.83%

Volume: 29.70B

Sept. 21, 2023 3:00p

/zigman2/quotes/210598069/delayed

Add to watchlist KR:180721

KOSPI Composite Index

KR : Korea Exchange

2,514.97

-44.77 -1.75%

Volume: 394,676

Sept. 21, 2023 6:05p

/zigman2/quotes/210597977/delayed

Add to watchlist TW:Y9999

Taiwan TAIEX

TW : Taiwan Stock Exchange

16,316.67

-218.08 -1.32%

Volume: 0.00

Sept. 21, 2023 1:33p

/zigman2/quotes/210597985/delayed

Add to watchlist SG:STI

FTSE Straits Times Index

SG : Singapore: SGX

3,202.81

-39.19 -1.21%

Volume: 0.00

Sept. 21, 2023 5:20p

/zigman2/quotes/210597981/delayed

Add to watchlist ID:JAKIDX

JSX Composite Index

ID : Indonesia Stock Exchange

6,991.47

-20.22 -0.29%

Volume: 0.00

Sept. 21, 2023 4:00p

/zigman2/quotes/210598100/delayed

Add to watchlist AU:XJO

S&P/ASX 200 Benchmark Index

AU : S&P ASX

7,065.20

-98.10 -1.37%

Volume: 821,348

Sept. 21, 2023 5:14p

/zigman2/quotes/207641152/delayed

Add to watchlist JP:4689

Z Holdings Corp.

JP : Japan: Tokyo

¥ 424.70

-10.80 -2.48%

Volume: 11.82M

Sept. 21, 2023 3:00p

P/E Ratio

16.72

Dividend Yield

1.31%

Market Cap

¥3337.68 billion

Rev. per Employee

¥60.33M

/zigman2/quotes/207303954/delayed

Add to watchlist JP:9984

SoftBank Group Corp.

JP : Japan: Tokyo

¥ 6,257.00

-205.00 -3.17%

Volume: 11.48M

Sept. 21, 2023 3:00p

P/E Ratio

6.21

Dividend Yield

0.70%

Market Cap

¥7858.12 billion

Rev. per Employee

¥103.51M

/zigman2/quotes/206687505/delayed

Add to watchlist HK:2382

Sunny Optical Technology Group Co. Ltd.

HK : Hong Kong

$ 56.10

-1.90 -3.28%

Volume: 5.06M

Sept. 21, 2023 4:08p

P/E Ratio

36.66

Dividend Yield

0.89%

Market Cap

$67.14 billion

Rev. per Employee

$1.29M

/zigman2/quotes/202884203/delayed

Add to watchlist HK:27

Galaxy Entertainment Group Ltd.

HK : Hong Kong

$ 51.05

-0.50 -0.97%

Volume: 5.12M

Sept. 21, 2023 4:08p

P/E Ratio

745.26

Dividend Yield

0.00%

Market Cap

$224.26 billion

Rev. per Employee

$824,187

/zigman2/quotes/203565558/delayed

Add to watchlist HK:1299

AIA Group Ltd.

HK : Hong Kong

$ 64.55

-1.00 -1.53%

Volume: 19.37M

Sept. 21, 2023 4:08p

P/E Ratio

30.92

Dividend Yield

2.41%

Market Cap

$749.53 billion

Rev. per Employee

N/A

/zigman2/quotes/206684590/delayed

Add to watchlist KR:005380

Hyundai Motor Co. Ltd.

KR : S. Korea: KRX

₩ 191,900

-3,000 -1.54%

Volume: 327,599

Sept. 21, 2023 6:09p

P/E Ratio

5.26

Dividend Yield

0.00%

Market Cap

₩44756.97 billion

Rev. per Employee

N/A

/zigman2/quotes/201448516/delayed

Add to watchlist AU:BHP

BHP Group Ltd.

AU : Australia: Sydney

$ 44.10

-0.54 -1.21%

Volume: 8.73M

Sept. 21, 2023 4:10p

P/E Ratio

11.65

Dividend Yield

5.93%

Market Cap

$228.56 billion

Rev. per Employee

N/A

/zigman2/quotes/203084975/delayed

Add to watchlist AU:WBC

Westpac Banking Corp.

AU : Australia: Sydney

$ 20.99

-0.54 -2.51%

Volume: 10.99M

Sept. 21, 2023 4:10p

P/E Ratio

12.37

Dividend Yield

6.38%

Market Cap

$76.02 billion

Rev. per Employee

$949,061