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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 +0.11%   fell 0.7% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +2.85%   retreated 0.9%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +2.13%   inched up 0.1% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +1.25%   gained 0.4%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.36%   rose 0.2%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.87%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +1.02%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +1.44%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +1.07%   fell. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +1.66%   rose 0.5%.

Among individual stocks, Yahoo Japan parent Z Holdings /zigman2/quotes/207641152/delayed JP:4689 +1.58%  , which is controlled by SoftBank /zigman2/quotes/207303954/delayed JP:9984 +1.42%  , skyrocketed in Tokyo trading after reports that it may acquire chat app Line /zigman2/quotes/205382025/delayed JP:3938 +0.92%  . Rakuten /zigman2/quotes/201861450/delayed JP:4755 +0.31%   and FamilyMart /zigman2/quotes/207640090/delayed JP:8028 -1.65%   sank. In Hong Kong, Tencent /zigman2/quotes/204605823/delayed HK:700 +3.99%   fell after reporting a 13% drop in quarterly profit . Insurer AIA /zigman2/quotes/203565558/delayed HK:1299 +3.32%   also declined, while Apple supplier AAC /zigman2/quotes/201441510/delayed HK:2018 +3.26%   gained. Kia Motors /zigman2/quotes/206019389/delayed KR:000270 0.00%   advanced in South Korea, while Foxconn /zigman2/quotes/204111604/delayed TW:2354 +0.70%   slid in Taiwan. In Australia, BHP /zigman2/quotes/201448516/delayed AU:BHP +0.53%   was about flat after naming a new CEO, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.63%   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 +0.50%   rose 0.1% to 3,094.04, a record. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.30%   gained 0.3% to 27,783.59, also a record. The Nasdaq /zigman2/quotes/210598365/realtime COMP +0.95%   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 -0.0242%   declined to 108.68 yen from Wednesday’s 108.84 yen.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,145.96
+24.23 +0.11%
Volume: 0.00
July 2, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
25,124.19
+697.00 +2.85%
Volume: 2.75M
July 2, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,090.57
+64.59 +2.13%
Volume: 39.11B
July 2, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,016.05
+24.94 +1.25%
Volume: 47.70B
July 2, 2020 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,135.37
+28.67 +1.36%
Volume: 1.09M
July 2, 2020 3:32p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
11,805.14
+101.72 +0.87%
Volume: 0.00
July 2, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,636.69
+26.52 +1.02%
Volume: 0.00
July 2, 2020 5:20p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,536.28
+21.85 +1.44%
Volume: 0.00
July 2, 2020 5:05p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,966.78
+52.39 +1.07%
Volume: 0.00
July 2, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,032.70
+98.30 +1.66%
Volume: 828,776
July 2, 2020 4:58p
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/zigman2/quotes/207641152/delayed
JP : Japan: Tokyo
¥ 515.00
+8.00 +1.58%
Volume: 16.96M
July 2, 2020 3:00p
P/E Ratio
30.65
Dividend Yield
1.72%
Market Cap
¥2505.06 billion
Rev. per Employee
¥77.26M
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,630.00
+79.00 +1.42%
Volume: 23.72M
July 2, 2020 3:00p
P/E Ratio
37.77
Dividend Yield
0.78%
Market Cap
¥11270.58 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/205382025/delayed
JP : Japan: Tokyo
¥ 5,470.00
+50.00 +0.92%
Volume: 656,600
July 2, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
¥1300.61 billion
Rev. per Employee
¥40.62M
loading...
/zigman2/quotes/201861450/delayed
JP : Japan: Tokyo
¥ 956.00
+3.00 +0.31%
Volume: 6.75M
July 2, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.47%
Market Cap
¥1285.73 billion
Rev. per Employee
¥74.20M
loading...
/zigman2/quotes/207640090/delayed
JP : Japan: Tokyo
¥ 1,783.00
-30.00 -1.65%
Volume: 1.76M
July 2, 2020 3:00p
P/E Ratio
20.73
Dividend Yield
2.69%
Market Cap
¥935.79 billion
Rev. per Employee
¥61.29M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 518.50
+19.90 +3.99%
Volume: 31.78M
July 2, 2020 4:08p
P/E Ratio
46.69
Dividend Yield
0.23%
Market Cap
HK$4722.19 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/203565558/delayed
HK : Hong Kong
HK$ 74.70
+2.40 +3.32%
Volume: 34.30M
July 2, 2020 4:08p
P/E Ratio
17.31
Dividend Yield
1.69%
Market Cap
HK$871.27 billion
Rev. per Employee
HK$12.98M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 49.10
+1.55 +3.26%
Volume: 12.60M
July 2, 2020 4:08p
P/E Ratio
23.69
Dividend Yield
0.81%
Market Cap
HK$57.46 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
32,200.00
0.00 0.00%
Volume: 1.06M
July 2, 2020 3:30p
P/E Ratio
8.94
Dividend Yield
3.57%
Market Cap
₩12849.85 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204111604/delayed
TW : Taiwan
NT$ 57.40
+0.40 +0.70%
Volume: 3.22M
July 2, 2020 1:30p
P/E Ratio
11.92
Dividend Yield
4.36%
Market Cap
NT$79.92 billion
Rev. per Employee
NT$888.52M
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 36.01
+0.19 +0.53%
Volume: 4.20M
July 2, 2020 4:10p
P/E Ratio
13.47
Dividend Yield
5.92%
Market Cap
$168.19 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.56
+0.03 +1.63%
Volume: 8.21M
July 2, 2020 4:10p
P/E Ratio
6.20
Dividend Yield
1.29%
Market Cap
$3.47 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,115.86
+15.57 +0.50%
Volume: 2.70B
July 1, 2020 5:11p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
25,734.97
-77.91 -0.30%
Volume: 373.98M
July 1, 2020 5:11p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
10,154.63
+95.86 +0.95%
Volume: 4.20M
July 1, 2020 5:16p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.4420
-0.0260 -0.0242%
Volume: 0.0000
July 2, 2020 6:22a
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