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Nov. 13, 2019, 11:28 p.m. EST

Asian markets mixed after weaker economic data from China, Japan

Nikkei, Hang Seng retreat while stocks in mainland China inch up

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By Marketwatch and Associated Press


Bloomberg News
Cans of beer are displayed for sale at a Bic Camera Inc. electronics store in Tokyo. Japan’s economy grew slower than expected in the September-ending quarter.

Asian markets were mixed in early trading Thursday after weaker-than-expected economic data from China and Japan, and reports of a sticking point in U.S.-China trade negotiations.

The Wall Street Journal reported Wednesday that the trade talks were being held up by China’s reluctance to agree on a specific figure for U.S. agricultural purchases. President Donald Trump has said China has agreed to buy $50 billion of farm goods. Rolling back tariffs and enforcement mechanisms are also reportedly still points of contention.

In economic news Thursday, China said its economic activity grew slower than expected in October, up 4.7% from a year ago, and down from September’s 5.8% increase. Economists had expected a 5.2% rise. Data also showed Japan’s economy grew slower than expected in the September-ending quarter, up just 0.2% year-over-year, following a 1.8% expansion in the previous quarter. Economists had forecast a 0.8% gain.

Also Thursday, Australia’s government reported employment fell by a bigger-than-expected margin in October. That prompted expectations the central bank will cut interest rates to prop up economic growth.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.33%   fell 0.7% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.01%   retreated 0.9%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.08%   inched up 0.1% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.01%   gained 0.4%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.33%   rose 0.2%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.44%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.47%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.37%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.11%   fell. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.34%   rose 0.5%.

Among individual stocks, Yahoo Japan parent Z Holdings /zigman2/quotes/207641152/delayed JP:4689 -0.53%  , which is controlled by SoftBank /zigman2/quotes/207303954/delayed JP:9984 +1.20%  , skyrocketed in Tokyo trading after reports that it may acquire chat app Line /zigman2/quotes/205382025/delayed JP:3938 +0.59%  . Rakuten /zigman2/quotes/201861450/delayed JP:4755 +0.33%   and FamilyMart /zigman2/quotes/207640090/delayed JP:8028 -0.04%   sank. In Hong Kong, Tencent /zigman2/quotes/204605823/delayed HK:700 +0.18%   fell after reporting a 13% drop in quarterly profit . Insurer AIA /zigman2/quotes/203565558/delayed HK:1299 -0.45%   also declined, while Apple supplier AAC /zigman2/quotes/201441510/delayed HK:2018 -0.40%   gained. Kia Motors /zigman2/quotes/206019389/delayed KR:000270 -1.03%   advanced in South Korea, while Foxconn /zigman2/quotes/204111604/delayed TW:2354 +0.89%   slid in Taiwan. In Australia, BHP /zigman2/quotes/201448516/delayed AU:BHP +1.85%   was about flat after naming a new CEO, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +5.22%   gained.

Investors are cautions “seemingly on the lack of good news on trade talks with China,” said Stephen Innes of AxiTrader in a report.

“It’s more about China getting locked into a numerical commitment as opposed to balking at the deal,” said Innes. “This is something that needs to get ironed out and certainly not a bridge too far.”

Meanwhile, Fed Chairman Jerome Powell said he expects the U.S. economy to keep growing at a solid pace but faces risks from slower global growth and trade tension.

The Fed cut short-term rates last month for the third time this year, to a range of 1.5% to 1.75%.

On Wall Street, buying focused on safe-play stocks such as utilities, real estate companies and makers of consumer products that tend to pay higher dividends. Banks, industrial stocks and companies declined.

The benchmark S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.16%   rose 0.1% to 3,094.04, a record. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.27%   gained 0.3% to 27,783.59, also a record. The Nasdaq /zigman2/quotes/210598365/realtime COMP -0.16%   dropped 0.1% to 8,482.10.

Benchmark U.S. crude   rose 31 cents to $57.43 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 32 cents on Wednesday to close at $57.12. Brent crude  , used to price international oils, advanced 24 cents to $62.61 per barrel in London. It gained 29 cents the previous session to $62.37.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0313%   declined to 108.68 yen from Wednesday’s 108.84 yen.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,430.70
+76.30 +0.33%
Volume: 0.00
Dec. 9, 2019 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,494.73
-3.64 -0.01%
Volume: 1.30M
Dec. 9, 2019 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,914.48
+2.46 +0.08%
Volume: 16.08B
Dec. 9, 2019 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,640.51
+0.18 +0.01%
Volume: 25.49B
Dec. 9, 2019 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,088.65
+6.80 +0.33%
Volume: 393,126
Dec. 9, 2019 6:01p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
11,660.77
+51.13 +0.44%
Volume: 0.00
Dec. 9, 2019 1:31p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,179.82
-14.89 -0.47%
Volume: 0.00
Dec. 9, 2019 5:20p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,562.71
-5.73 -0.37%
Volume: 0.00
Dec. 9, 2019 5:05p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,193.79
+6.92 +0.11%
Volume: 0.00
Dec. 9, 2019 4:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,730.00
+23.00 +0.34%
Volume: 505,303
Dec. 9, 2019 4:52p
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/zigman2/quotes/207641152/delayed
JP : Japan: Tokyo
¥ 377.00
-2.00 -0.53%
Volume: 15.92M
Dec. 9, 2019 3:00p
P/E Ratio
25.09
Dividend Yield
2.35%
Market Cap
¥1804.96 billion
Rev. per Employee
¥77.26M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 4,308.00
+51.00 +1.20%
Volume: 11.94M
Dec. 9, 2019 3:00p
P/E Ratio
9.74
Dividend Yield
1.02%
Market Cap
¥8817.26 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/205382025/delayed
JP : Japan: Tokyo
¥ 5,150.00
+30.00 +0.59%
Volume: 793,000
Dec. 9, 2019 3:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
¥1225.74 billion
Rev. per Employee
¥40.62M
loading...
/zigman2/quotes/201861450/delayed
JP : Japan: Tokyo
¥ 918.00
+3.00 +0.33%
Volume: 5.60M
Dec. 9, 2019 3:00p
P/E Ratio
66.06
Dividend Yield
0.49%
Market Cap
¥1240.30 billion
Rev. per Employee
¥74.20M
loading...
/zigman2/quotes/207640090/delayed
JP : Japan: Tokyo
¥ 2,512.00
-1.00 -0.04%
Volume: 1.23M
Dec. 9, 2019 3:00p
P/E Ratio
23.92
Dividend Yield
1.59%
Market Cap
¥1271.86 billion
Rev. per Employee
¥61.29M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 336.20
+0.60 +0.18%
Volume: 9.84M
Dec. 9, 2019 4:08p
P/E Ratio
32.77
Dividend Yield
0.30%
Market Cap
HK$3180.14 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/203565558/delayed
HK : Hong Kong
HK$ 77.60
-0.35 -0.45%
Volume: 13.48M
Dec. 9, 2019 4:08p
P/E Ratio
24.72
Dividend Yield
1.52%
Market Cap
HK$939.10 billion
Rev. per Employee
HK$12.98M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 61.70
-0.25 -0.40%
Volume: 10.87M
Dec. 9, 2019 4:08p
P/E Ratio
23.53
Dividend Yield
2.32%
Market Cap
HK$74.87 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
43,350.00
-450.00 -1.03%
Volume: 582,117
Dec. 9, 2019 3:30p
P/E Ratio
11.04
Dividend Yield
2.08%
Market Cap
₩17560.80 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204111604/delayed
TW : Taiwan
NT$ 67.90
+0.60 +0.89%
Volume: 3.16M
Dec. 9, 2019 1:30p
P/E Ratio
10.68
Dividend Yield
4.71%
Market Cap
NT$95.20 billion
Rev. per Employee
NT$888.52M
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.05
+0.69 +1.85%
Volume: 4.38M
Dec. 9, 2019 4:10p
P/E Ratio
16.01
Dividend Yield
5.04%
Market Cap
$188.92 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 2.62
+0.13 +5.22%
Volume: 10.23M
Dec. 9, 2019 4:10p
P/E Ratio
10.37
Dividend Yield
0.76%
Market Cap
$5.67 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,140.85
-5.06 -0.16%
Volume: 740.19M
Dec. 9, 2019 1:34p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,939.06
-76.00 -0.27%
Volume: 99.78M
Dec. 9, 2019 1:34p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
8,642.72
-13.80 -0.16%
Volume: 1.14M
Dec. 9, 2019 1:34p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.6200
+0.0340 +0.0313%
Volume: 0.0000
Dec. 9, 2019 1:34p
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