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Oct. 24, 2019, 11:29 p.m. EDT

Asian markets mixed as investors seek direction

Nikkei about flat, stocks retreat in Hong Kong

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By Marketwatch and Associated Press


Reuters
Pedestrians cross a street in Tokyo.

Asian markets were mixed in modest trading Friday, as investors sought direction amid a rare quiet news day on the geopolitical front.

Speaking in Washington on Thursday, Vice President Mike Pence expressed hope for a phase-one trade deal, and said the U.S. “will continue to negotiate in good faith with China.” Pence pointed out that China was a “strategic and economic rival,” though, and sharply criticized its actions to curb civil rights in Hong Kong and mainland China. There were no other major trade developments.

In the U.K., Prime Minister Boris Johnson said he would seek a general election in December to break the Brexit deadlock, but it’s uncertain if he can win Parliament’s support for the vote.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +1.73%  gave up early gains after Trade Minister Isshu Sugawara resigned after just a month on the job. Sugawara has been grilled in Parliament recently concerning a scandal over condolence money allegedly being offered to election supporters.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.10%   fell 0.4%, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.15%   slipped 0.2% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.09%   rose slightly. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.24%   was about flat, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.56%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -2.17%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.06%   were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +2.16%   gained 0.6%.

Among individual stocks, SoftBank /zigman2/quotes/207303954/delayed JP:9984 0.00%   fell in Tokyo trading, as did convenience-store chain FamilyMart /zigman2/quotes/207640090/delayed JP:8028 +2.43%  , while Screen Holdings /zigman2/quotes/200599327/delayed JP:7735 -0.39%   gained. In Hong Kong, CSPC Pharmaceutical /zigman2/quotes/200847219/delayed HK:1093 +1.18%   rose, along with CNOOC /zigman2/quotes/203421416/delayed HK:883 +1.16%  , while AAC /zigman2/quotes/201441510/delayed HK:2018 +3.64%   and Ping An Insurance /zigman2/quotes/210315058/delayed HK:2318 -0.59%   declined. LG Electronics /zigman2/quotes/209966407/delayed KR:066570 -0.36%   fell in South Korea while SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.12%   surged. Retailer Woolworths /zigman2/quotes/209906204/delayed AU:WOW +1.14%   gained in Australia.

Traders have braced for weaker results this earnings season amid concerns about the costly trade war between the U.S. and China, and increased signs of slowing economic growth worldwide. Earnings reports in the last couple of weeks have mostly exceeded Wall Street analysts’ modest expectations.

After moving sideways for much of the day, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.24%   added 5.77 points, or 0.2%, to 3,010.29. The index is now within 0.6% of its all-time high set July 26. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.04%   dropped 28.42 points, or 0.1%, to 26,805.53. The Nasdaq /zigman2/quotes/210598365/realtime COMP +0.43%  , which is heavily weighted with technology stocks, climbed 66 points, or 0.8%, to 8,185.80.

“The past week saw most major share markets push higher helped by generally good U.S. earnings reports, benign geopolitical news and optimism that global recession will be avoided,” said Shane Oliver, chief economist at AMP Capital.

Benchmark crude oil   dipped 35 cents to $55.88 a barrel. It rose 26 cents to $56.23 a barrel Thursday. Brent crude oil  , the international standard, lost 37 cents to $61.30 a barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0186%   was little changed, including up to 108.65 Japanese yen from 108.64 yen on Thursday.

/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/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: 65.00
May 26, 2020 7:06a
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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
loading...
/zigman2/quotes/207640090/delayed
JP : Japan: Tokyo
¥ 1,857.00
+44.00 +2.43%
Volume: 1.16M
May 25, 2020 3:00p
P/E Ratio
21.59
Dividend Yield
2.58%
Market Cap
¥917.57 billion
Rev. per Employee
¥61.29M
loading...
/zigman2/quotes/200599327/delayed
JP : Japan: Tokyo
¥ 5,050.00
-20.00 -0.39%
Volume: 827,900
May 25, 2020 3:00p
P/E Ratio
49.77
Dividend Yield
0.59%
Market Cap
¥236.61 billion
Rev. per Employee
¥63.00M
loading...
/zigman2/quotes/200847219/delayed
HK : Hong Kong
HK$ 15.48
+0.18 +1.18%
Volume: 25.86M
May 25, 2020 4:09p
P/E Ratio
22.88
Dividend Yield
1.29%
Market Cap
HK$95.26 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 8.72
+0.10 +1.16%
Volume: 50.61M
May 25, 2020 4:09p
P/E Ratio
5.62
Dividend Yield
8.94%
Market Cap
HK$384.86 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 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$411,637
loading...
/zigman2/quotes/210315058/delayed
HK : Hong Kong
HK$ 75.45
-0.45 -0.59%
Volume: 34.12M
May 25, 2020 4:09p
P/E Ratio
9.38
Dividend Yield
3.00%
Market Cap
HK$1382.16 billion
Rev. per Employee
HK$3.35M
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
56,100.00
-200.00 -0.36%
Volume: 478,311
May 25, 2020 3:30p
P/E Ratio
20.79
Dividend Yield
1.34%
Market Cap
₩10137.70 billion
Rev. per Employee
N/A
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/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
81,400.00
+100.00 +0.12%
Volume: 2.85M
May 25, 2020 3:30p
P/E Ratio
35.73
Dividend Yield
1.23%
Market Cap
₩55609.30 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209906204/delayed
AU : Australia: Sydney
$ 34.55
+0.39 +1.14%
Volume: 1.55M
May 25, 2020 4:10p
P/E Ratio
29.29
Dividend Yield
2.98%
Market Cap
$43.06 billion
Rev. per Employee
$284,703
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
2,955.45
+6.94 +0.24%
Volume: 2.19B
May 22, 2020 5:09p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
24,465.16
-8.96 -0.04%
Volume: 255.66M
May 22, 2020 5:09p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
9,324.59
+39.71 +0.43%
Volume: 3.40M
May 22, 2020 5:16p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.7180
+0.0200 +0.0186%
Volume: 0.0000
May 25, 2020 5:57p
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