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Aug. 11, 2019, 11:38 p.m. EDT

Asian markets make cautious gains following rocky week

Stocks rise in Hong Kong, Shanghai; Nikkei closed for holiday

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By Marketwatch and Associated Press


Getty Images
The sun rises behind the skyline of Shanghai.

Asian markets cautiously rose in early trading Monday, following a volatile week for global markets as U.S.-China trade tensions increased.

Goldman Sachs on Sunday said that it does not expect a trade deal before the 2020 presidential election, and warned that the ongoing trade war is having a greater effect on the U.S. economy that first estimated. In a note to investors, the bank cut its growth forecast for the economy and said the risk of recession is rising as businesses reduce spending due to trade-war uncertainties.

Early Monday, China’s central bank set the midpoint for the yuan weaker than 7 per U.S. dollar for the third day in a row. The People’s Bank of China set the currency’s reference point at 7.0211 per dollar, weaker than Friday’s level but still stronger than what analysts had expected.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.74%   gave up early gains and was last about flat, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.22%   gained 0.7%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.05%   advanced 0.4%, while Taiwan’s Taiex /zigman2/quotes/210597977/delayed TW:Y9999 -0.02%   was about flat and Indonesia’s JSX Composite /zigman2/quotes/210597981/delayed ID:JAKIDX +0.79%   declined slightly. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.63%   was little changed. Markets in Japan and Singapore were closed for holidays.

Among individual stocks, Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.78%   and Tencent /zigman2/quotes/204605823/delayed HK:700 +0.54%   rose in Hong Kong, while HSBC /zigman2/quotes/202687335/delayed HK:5 -3.11%   fell. Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.60%   and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 -2.86%   gained in South Korea, while Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -0.25%   slid in Australia.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
22,961.47
-171.29 -0.74%
Volume: 3.62M
May 29, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,852.35
+6.13 +0.22%
Volume: 20.68B
May 29, 2020 3:01p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,029.60
+1.06 +0.05%
Volume: 1.09M
May 29, 2020 3:33p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
10,942.16
-2.03 -0.02%
Volume: 0.00
May 29, 2020 1:33p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,753.61
+37.43 +0.79%
Volume: 0.00
May 29, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,755.70
-95.40 -1.63%
Volume: 2.45M
May 29, 2020 5:16p
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 102.40
-0.80 -0.78%
Volume: 8.93M
May 29, 2020 4:08p
P/E Ratio
24.92
Dividend Yield
0.79%
Market Cap
HK$113.20 billion
Rev. per Employee
HK$1.08M
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/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 410.40
+2.20 +0.54%
Volume: 29.28M
May 29, 2020 4:08p
P/E Ratio
36.95
Dividend Yield
0.29%
Market Cap
HK$3865.83 billion
Rev. per Employee
HK$8.27M
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/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 35.85
-1.15 -3.11%
Volume: 41.06M
May 29, 2020 4:08p
P/E Ratio
24.86
Dividend Yield
0.00%
Market Cap
HK$753.51 billion
Rev. per Employee
HK$2.88M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
50,700.00
+300.00 +0.60%
Volume: 27.60M
May 29, 2020 3:30p
P/E Ratio
16.18
Dividend Yield
2.79%
Market Cap
₩342350.00 billion
Rev. per Employee
N/A
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/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
81,500.00
-2,400 -2.86%
Volume: 6.82M
May 29, 2020 3:30p
P/E Ratio
35.77
Dividend Yield
1.23%
Market Cap
₩57387.70 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 93.40
-0.23 -0.25%
Volume: 3.85M
May 29, 2020 4:10p
P/E Ratio
13.32
Dividend Yield
7.04%
Market Cap
$151.32 billion
Rev. per Employee
$1.14M
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