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May 20, 2019, 11:02 p.m. EDT

Asian markets mixed as investors weigh Huawei implications

Nikkei down, but stocks rise in mainland China

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By Marketwatch and Associated Press


Reuters
Huawei’s factory campus in Dongguan, China.

Asian stock markets were mixed in early trading Tuesday, amid reports that the Trump administration will extend a temporary reprieve for an export ban to China’s Huawei Technologies Co.

The Wall Street Journal reported Monday that the U.S. will soon announce a handful of U.S. companies may receive 90-day exemptions to the technology export ban announced last week. That could give some breathing room to Huawei and other companies, and serve as a potential bargaining chip assuming trade talks with China are resumed.

On Tuesday, Huawei’s founder and CEO Ren Zhengfei said in an interview that the potential reprieve is meaningless because the Chinese tech giant has already prepared for the worst, and has stockpiled chips. He also said U.S. export restrictions won’t hinder its development of 5G technology, and that within a few years Huawei’s 5G tech would be superior to that of every other company.

Tech stocks fell on Wall Street over concerns about how the Huawei ban will affect U.S. companies, and potential retaliation by China. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +2.05%   fell 84.10 points, or 0.3%, to 25,679.90, the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.36%   declined 19.30 points, or 0.7%, to 2,840.23, while the tech-heavy Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +0.78%   dropped 113.91 points, or 1.5%, to 7,702.38.

On Tuesday, Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.29%   fell 0.4%, and Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.04%  was last about flat after making up early losses. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.20%   gained 1% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.12%   rose 1.3%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.18%   advanced 0.7%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.65%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.18%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.85%   were mixed, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.84%   declined 0.3%.

Among individual stocks, Nikon /zigman2/quotes/203281219/delayed JP:7731 -0.50%   and SoftBank Group /zigman2/quotes/207303954/delayed JP:9984 +0.78%   gained in Tokyo trading, while Sony /zigman2/quotes/201361720/delayed JP:6758 +1.52%   and shipping company Mitsui OSK Lines /zigman2/quotes/204152844/delayed JP:9104 -1.44%   fell. In Hong Kong, AAC /zigman2/quotes/201441510/delayed HK:2018 -1.54%   and Bank of China /zigman2/quotes/204682472/delayed HK:3988 +0.34%   rose while Sino Biopharmaceutical /zigman2/quotes/206921981/delayed HK:1177 +1.66%   and casino operator Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 +2.01%   dropped. Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.92%  , which could benefit if Huawei’s supply of U.S. chips is cut off, surged in South Korea. Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 +1.66%  fell in Taiwan. In Australia, BHP /zigman2/quotes/201448516/delayed AU:BHP -0.03%   and Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -2.61%  declined, while Westpac Banking /zigman2/quotes/203084975/delayed AU:WBC +1.62%   rose.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,269.89
+527.24 +2.05%
Volume: 401.27M
June 3, 2020 5:18p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,122.87
+42.05 +1.36%
Volume: 3.16B
June 3, 2020 5:18p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
9,682.91
+74.54 +0.78%
Volume: 4.23M
June 3, 2020 5:16p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
22,680.11
+66.35 +0.29%
Volume: 0.00
June 4, 2020 2:44p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,316.77
-8.85 -0.04%
Volume: 1.08M
June 4, 2020 1:49p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,917.64
-5.73 -0.20%
Volume: 17.04B
June 4, 2020 1:49p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,849.52
+2.14 +0.12%
Volume: 27.12B
June 4, 2020 1:49p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,150.82
+3.82 +0.18%
Volume: 1.26M
June 4, 2020 2:44p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
11,393.23
+73.07 +0.65%
Volume: 0.00
June 4, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,705.27
+4.88 +0.18%
Volume: 0.00
June 4, 2020 1:49p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,983.19
+42.18 +0.85%
Volume: 0.00
June 4, 2020 11:30a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,991.40
+49.80 +0.84%
Volume: 956,170
June 4, 2020 3:44p
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/zigman2/quotes/203281219/delayed
JP : Japan: Tokyo
¥ 1,003.00
-5.00 -0.50%
Volume: 2.03M
June 4, 2020 2:44p
P/E Ratio
51.07
Dividend Yield
3.99%
Market Cap
¥363.82 billion
Rev. per Employee
¥34.15M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,161.00
+40.00 +0.78%
Volume: 25.99M
June 4, 2020 2:44p
P/E Ratio
34.63
Dividend Yield
0.85%
Market Cap
¥10590.20 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,260.00
+109.00 +1.52%
Volume: 6.97M
June 4, 2020 2:44p
P/E Ratio
15.75
Dividend Yield
0.62%
Market Cap
¥8725.37 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/204152844/delayed
JP : Japan: Tokyo
¥ 1,981.00
-29.00 -1.44%
Volume: 1.93M
June 4, 2020 2:44p
P/E Ratio
7.65
Dividend Yield
3.28%
Market Cap
¥240.39 billion
Rev. per Employee
¥125.14M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 41.55
-0.65 -1.54%
Volume: 6.89M
June 4, 2020 1:49p
P/E Ratio
20.05
Dividend Yield
0.96%
Market Cap
HK$50.76 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 2.93
+0.01 +0.34%
Volume: 109.64M
June 4, 2020 1:49p
P/E Ratio
4.05
Dividend Yield
7.11%
Market Cap
HK$859.55 billion
Rev. per Employee
HK$3.13M
loading...
/zigman2/quotes/206921981/delayed
HK : Hong Kong
HK$ 13.50
+0.22 +1.66%
Volume: 29.89M
June 4, 2020 1:49p
P/E Ratio
55.69
Dividend Yield
0.59%
Market Cap
HK$166.32 billion
Rev. per Employee
HK$1.23M
loading...
/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 55.80
+1.10 +2.01%
Volume: 9.72M
June 4, 2020 1:49p
P/E Ratio
18.60
Dividend Yield
1.63%
Market Cap
HK$237.12 billion
Rev. per Employee
HK$1.44M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
55,000.00
+500.00 +0.92%
Volume: 35.05M
June 4, 2020 2:44p
P/E Ratio
17.55
Dividend Yield
2.57%
Market Cap
₩370200.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 306.00
+5.00 +1.66%
Volume: 46.32M
June 4, 2020 1:30p
P/E Ratio
19.79
Dividend Yield
3.27%
Market Cap
NT$7805.05 billion
Rev. per Employee
N/A
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 36.33
-0.01 -0.03%
Volume: 4.27M
June 4, 2020 3:44p
P/E Ratio
13.59
Dividend Yield
5.87%
Market Cap
$183.76 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.68
-0.05 -2.61%
Volume: 14.54M
June 4, 2020 3:44p
P/E Ratio
6.70
Dividend Yield
1.19%
Market Cap
$3.93 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203084975/delayed
AU : Australia: Sydney
$ 18.24
+0.29 +1.62%
Volume: 11.33M
June 4, 2020 3:44p
P/E Ratio
13.70
Dividend Yield
9.54%
Market Cap
$64.72 billion
Rev. per Employee
$1.09M
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