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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 +1.73%   edged up 0.2% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.10%   rose 0.9%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.15%   and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.09%   declined slightly. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.24%   gained 0.9% while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.56%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -2.17%   and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -1.06%   advanced. Stocks dipped in Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.06%  . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +2.16%   retreated 0.6%.

Among individual stocks, Sony /zigman2/quotes/201361720/delayed JP:6758 -0.34%   and SoftBank /zigman2/quotes/207303954/delayed JP:9984 0.00%   gained in Tokyo trading, while Honda /zigman2/quotes/200490352/delayed JP:7267 +4.24%   slumped. In Hong Kong, Apple component makers Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +1.05%   and AAC /zigman2/quotes/201441510/delayed HK:2018 +3.64%   surged after Apple /zigman2/quotes/202934861/composite AAPL +0.64%   reported earnings that beat estimates, and forecast a better-than-expected holiday quarter. Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.21%   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 +2.53%   and Wespac Banking /zigman2/quotes/203084975/delayed AU:WBC +2.13%   fell.

/zigman2/quotes/210597971/delayed
JP : Nikkei
20,741.65
+353.49 +1.73%
Volume: 0.00
May 25, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
22,952.24
+22.10 +0.10%
Volume: 1.77M
May 25, 2020 4:09p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,817.97
+4.20 +0.15%
Volume: 17.29B
May 25, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,750.82
-1.59 -0.09%
Volume: 24.16B
May 25, 2020 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,994.60
+24.47 +1.24%
Volume: 641,458
May 25, 2020 3:30p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
10,871.18
+60.03 +0.56%
Volume: 0.00
May 25, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,499.83
-55.51 -2.17%
Volume: 0.00
May 22, 2020 5:20p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,436.76
-15.35 -1.06%
Volume: 0.00
May 22, 2020 5:05p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,545.95
-2.70 -0.06%
Volume: 0.00
May 20, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,615.60
+118.60 +2.16%
Volume: 679,157
May 25, 2020 5:11p
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 6,750.00
-23.00 -0.34%
Volume: 3.71M
May 25, 2020 3:00p
P/E Ratio
14.65
Dividend Yield
0.67%
Market Cap
¥8264.15 billion
Rev. per Employee
¥72.37M
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 4,607.00
0.00 0.00%
Volume: 19.46M
May 25, 2020 3:00p
P/E Ratio
30.91
Dividend Yield
0.96%
Market Cap
¥9527.24 billion
Rev. per Employee
¥126.96M
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/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,630.00
+107.00 +4.24%
Volume: 3.20M
May 25, 2020 3:00p
P/E Ratio
10.15
Dividend Yield
4.26%
Market Cap
¥4356.24 billion
Rev. per Employee
¥73.06M
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 106.10
+1.10 +1.05%
Volume: 7.88M
May 25, 2020 4:09p
P/E Ratio
25.82
Dividend Yield
0.76%
Market Cap
HK$115.17 billion
Rev. per Employee
HK$1.08M
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/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 41.30
+1.45 +3.64%
Volume: 11.83M
May 25, 2020 4:09p
P/E Ratio
19.93
Dividend Yield
0.97%
Market Cap
HK$48.16 billion
Rev. per Employee
HK$411,637
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 318.89
+2.04 +0.64%
Volume: 20.45M
May 22, 2020 4:00p
P/E Ratio
25.00
Dividend Yield
1.03%
Market Cap
$1382.18 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
48,850.00
+100.00 +0.21%
Volume: 14.34M
May 25, 2020 3:30p
P/E Ratio
15.59
Dividend Yield
2.90%
Market Cap
₩331143.00 billion
Rev. per Employee
N/A
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/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.62
+0.04 +2.53%
Volume: 7.78M
May 25, 2020 4:10p
P/E Ratio
6.46
Dividend Yield
1.23%
Market Cap
$3.60 billion
Rev. per Employee
N/A
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/zigman2/quotes/203084975/delayed
AU : Australia: Sydney
$ 15.33
+0.32 +2.13%
Volume: 9.02M
May 25, 2020 4:10p
P/E Ratio
11.52
Dividend Yield
11.35%
Market Cap
$54.12 billion
Rev. per Employee
$1.09M
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