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Oct. 17, 2019, 11:31 p.m. EDT

Asian markets mixed after decades-worst GDP growth by China

Nikkei gains, stocks in Hong Kong and mainland China dip

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By Marketwatch and Associated Press


AFP/Getty Images
Employees work on a drilling machine production line at a factory in Zhangjiakou, China. Data showed China’s economy grew at just a 6% rate last month.

Asian markets were mixed in early trading Friday, as new data showed worse-than-expected economic growth in China.

China’s economy expanded at a 6% rate year-over-year, official data showed, less than the median 6.1% forecast by economists polled by the Wall Street Journal, and the worst pace of growth since the first quarter of 1992. It was the second straight month of weaker year-on-year data. China expects annual GDP growth of 6% to 6.5% this year, down from last year’s 6.6% growth.

Still, investors appeared relieved the numbers weren’t worse, considering the ongoing tariff war with the U.S. and signs of a global slowdown.

“While the GDP is testing the lower bound of the official annual 6-6.5% target, today’s data suggests there is a very limited risk of breaching the lower bounds of that target this year,” Stephen Innes, Asia-Pacific market strategist for AxiTrader, wrote in a note. “While risk asset is not flashing all green, markets can breathe a sigh of relief.”

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.44%   rose 0.6% as a core inflation reading fell to 0.3% in September, the lowest level since April 2017, but in line with analysts’ expectations. Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.60%   fell 0.1% giving up early gains, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.40%  fell 0.2% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.28%   was last about flat. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.64%   was flat as well, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.83%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.85%  , Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -1.66%   and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.12%   were little changed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.34%   slipped 0.6%.

Among individual stocks, robotics maker Fanuc /zigman2/quotes/202054799/delayed JP:6954 -1.28%   gained in Tokyo trading, along with Rakuten /zigman2/quotes/201861450/delayed JP:4755 +0.20%   and Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 -0.05%  . In Hong Kong, Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -1.10%   and AIA /zigman2/quotes/203565558/delayed HK:1299 -3.28%   gained, while property developers such as Wharf Real Estate /zigman2/quotes/205885756/delayed HK:1997 -2.21%   retreated after big gains Thursday. Kia Motors /zigman2/quotes/206019389/delayed KR:000270 -3.62%   gained in South Korea, while Westpac /zigman2/quotes/203084975/delayed AU:WBC -0.18%   and Commonwealth Bank /zigman2/quotes/200638713/delayed AU:CBA -0.27%   slipped in Australia.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,631.45
-125.41 -0.44%
Volume: 0.00
Jan. 22, 2021 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,447.85
-479.91 -1.60%
Volume: 3.38M
Jan. 22, 2021 4:09p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,606.75
-14.51 -0.40%
Volume: 32.45B
Jan. 22, 2021 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,456.24
+6.86 +0.28%
Volume: 39.62B
Jan. 22, 2021 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,140.63
-20.21 -0.64%
Volume: 1.11M
Jan. 22, 2021 3:32p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
16,019.03
-134.74 -0.83%
Volume: 0.00
Jan. 22, 2021 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,991.53
-25.62 -0.85%
Volume: 0.00
Jan. 22, 2021 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,307.13
-106.77 -1.66%
Volume: 0.00
Jan. 22, 2021 3:00p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,596.74
+1.94 +0.12%
Volume: 0.00
Jan. 22, 2021 5:05p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,800.40
-23.30 -0.34%
Volume: 43.00
Jan. 25, 2021 9:03a
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/zigman2/quotes/202054799/delayed
JP : Japan: Tokyo
¥ 27,070.00
-350.00 -1.28%
Volume: 669,100
Jan. 22, 2021 3:00p
P/E Ratio
84.73
Dividend Yield
0.71%
Market Cap
¥5192.61 billion
Rev. per Employee
¥62.26M
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/zigman2/quotes/201861450/delayed
JP : Japan: Tokyo
¥ 979.00
+2.00 +0.20%
Volume: 4.45M
Jan. 22, 2021 3:00p
P/E Ratio
N/A
Dividend Yield
0.46%
Market Cap
¥1332.69 billion
Rev. per Employee
¥63.03M
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/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 91,820.00
-50.00 -0.05%
Volume: 324,400
Jan. 22, 2021 3:00p
P/E Ratio
104.55
Dividend Yield
0.52%
Market Cap
¥9374.87 billion
Rev. per Employee
¥34.80M
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 216.20
-2.40 -1.10%
Volume: 7.07M
Jan. 22, 2021 4:09p
P/E Ratio
49.59
Dividend Yield
0.37%
Market Cap
HK$236.54 billion
Rev. per Employee
HK$2.13M
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/zigman2/quotes/203565558/delayed
HK : Hong Kong
HK$ 100.40
-3.40 -3.28%
Volume: 34.29M
Jan. 22, 2021 4:09p
P/E Ratio
31.22
Dividend Yield
1.28%
Market Cap
HK$1211.38 billion
Rev. per Employee
HK$12.98M
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/zigman2/quotes/205885756/delayed
HK : Hong Kong
HK$ 41.95
-0.95 -2.21%
Volume: 3.85M
Jan. 22, 2021 4:09p
P/E Ratio
N/A
Dividend Yield
4.08%
Market Cap
HK$127.37 billion
Rev. per Employee
HK$5.68M
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/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
87,800.00
-3,300 -3.62%
Volume: 7.12M
Jan. 22, 2021 3:30p
P/E Ratio
40.35
Dividend Yield
1.31%
Market Cap
₩35201.77 billion
Rev. per Employee
₩1.63B
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/zigman2/quotes/203084975/delayed
AU : Australia: Sydney
$ 21.78
-0.04 -0.18%
Volume: 6.98M
Jan. 22, 2021 4:10p
P/E Ratio
34.52
Dividend Yield
1.42%
Market Cap
$79.80 billion
Rev. per Employee
$826,888
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/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 85.09
-0.23 -0.27%
Volume: 3,000
Jan. 22, 2021 4:10p
P/E Ratio
16.24
Dividend Yield
3.50%
Market Cap
$150.78 billion
Rev. per Employee
$917,769
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