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Oct. 30, 2019, 11:05 p.m. EDT

Asian markets mixed after Fed cuts rates, China posts disappointing data

Nikkei, Hang Seng rise, while stocks dip in mainland China

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By Marketwatch and Associated Press


Reuters
Workers assemble remote controls of air conditioners and water heaters along a production line at a factory in Hefei, China.

Asian markets were mixed in early trading Thursday, following disappointing economic data from China and another interest-rate cut by the U.S. Federal Reserve, which suggested no more would come for a while.

Speaking after the Fed’s two-day meeting, Chairman Jerome Powell said Wednesday it would take a “material change” to justify another rate cut, indicating that the central bank will wait and see how the economy reacts to the third rate cut this year. Still, many analysts still expect further cuts in 2020 if the U.S. economy slows down as expected.

Economic data from China on Thursday showed weaker-than-expected growth in both factory activity and nonmanufacturing activity. China’s manufacturing purchasing managers index dropped to 49.3 in October from 49.8 the month before, marking an eight-month low and the sixth straight month of contraction. Meanwhile, the official nonmanufacturing purchasing managers index dropped to 52.8 in October from 53.7 in September, marking its lowest point since February 2016.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.69%   edged up 0.2% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.52%   rose 0.9%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +2.28%   and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +3.18%   declined slightly. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.06%   gained 0.9% while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.44%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.22%   and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.48%   advanced. Stocks dipped in Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.0099%  . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.07%   retreated 0.6%.

Among individual stocks, Sony /zigman2/quotes/201361720/delayed JP:6758 -2.23%   and SoftBank /zigman2/quotes/207303954/delayed JP:9984 +0.42%   gained in Tokyo trading, while Honda /zigman2/quotes/200490352/delayed JP:7267 -0.20%   slumped. In Hong Kong, Apple component makers Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +2.84%   and AAC /zigman2/quotes/201441510/delayed HK:2018 +2.44%   surged after Apple /zigman2/quotes/202934861/composite AAPL +0.02%   reported earnings that beat estimates, and forecast a better-than-expected holiday quarter. Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.49%   rose in South Korea despite reporting a 52% drop in net profit, attributed largely to the slumping chip market. In Australia, Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +0.95%   and Wespac Banking /zigman2/quotes/203084975/delayed AU:WBC -0.31%   fell.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,523.24
-164.35 -0.69%
Volume: 0.00
Feb. 17, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,959.60
+144.00 +0.52%
Volume: 1.41M
Feb. 17, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,983.62
+66.61 +2.28%
Volume: 31.32B
Feb. 17, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,835.96
+56.53 +3.18%
Volume: 48.11B
Feb. 17, 2020 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,242.17
-1.42 -0.06%
Volume: 458,247
Feb. 17, 2020 3:30p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
11,763.51
-52.19 -0.44%
Volume: 0.00
Feb. 17, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,213.00
-7.03 -0.22%
Volume: 0.00
Feb. 17, 2020 5:20p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,537.12
-7.34 -0.48%
Volume: 0.00
Feb. 17, 2020 5:05p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,867.52
+0.58 +0.0099%
Volume: 0.00
Feb. 17, 2020 4:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,125.10
-5.10 -0.07%
Volume: 501,267
Feb. 17, 2020 5:53p
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,452.00
-170.00 -2.23%
Volume: 5.60M
Feb. 17, 2020 3:00p
P/E Ratio
14.36
Dividend Yield
0.60%
Market Cap
¥9347.75 billion
Rev. per Employee
¥72.37M
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,540.00
+23.00 +0.42%
Volume: 15.56M
Feb. 17, 2020 3:00p
P/E Ratio
37.17
Dividend Yield
0.79%
Market Cap
¥11427.70 billion
Rev. per Employee
¥126.96M
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/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,954.00
-6.00 -0.20%
Volume: 5.44M
Feb. 17, 2020 3:00p
P/E Ratio
11.00
Dividend Yield
3.79%
Market Cap
¥5170.86 billion
Rev. per Employee
¥73.06M
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 134.00
+3.70 +2.84%
Volume: 8.33M
Feb. 17, 2020 4:08p
P/E Ratio
46.60
Dividend Yield
0.49%
Market Cap
HK$142.92 billion
Rev. per Employee
HK$1.08M
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/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 58.85
+1.40 +2.44%
Volume: 8.52M
Feb. 17, 2020 4:08p
P/E Ratio
22.45
Dividend Yield
2.43%
Market Cap
HK$69.43 billion
Rev. per Employee
HK$411,637
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 324.95
+0.08 +0.02%
Volume: 20.03M
Feb. 14, 2020 4:00p
P/E Ratio
25.66
Dividend Yield
0.95%
Market Cap
$1421.81 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
61,500.00
-300.00 -0.49%
Volume: 8.74M
Feb. 17, 2020 3:30p
P/E Ratio
16.98
Dividend Yield
2.30%
Market Cap
₩419787.00 billion
Rev. per Employee
N/A
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/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 2.13
+0.02 +0.95%
Volume: 15.78M
Feb. 17, 2020 4:10p
P/E Ratio
8.50
Dividend Yield
0.94%
Market Cap
$4.81 billion
Rev. per Employee
N/A
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/zigman2/quotes/203084975/delayed
AU : Australia: Sydney
$ 25.62
-0.08 -0.31%
Volume: 5.44M
Feb. 17, 2020 4:10p
P/E Ratio
13.53
Dividend Yield
6.79%
Market Cap
$92.65 billion
Rev. per Employee
$1.09M
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