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Sept. 1, 2019, 10:41 p.m. EDT

Asian markets mixed as latest U.S.-China tariffs take effect

Nikkei, Hang Seng slip, but stocks gain in mainland China

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By Marketwatch and Associated Press


Reuters
A worker gestures as a crane lifts goods for export onto a cargo vessel at a port in Lianyungang, China.

Asian markets were a mixed bag Monday as the latest round of tariff hikes in the U.S.-China trade war took effect.

U.S. tariffs on $112 billion of Chinese goods were raised from 10% to 15% effective Sunday, and China responded by raising tariffs on some U.S. goods. Additional tit-for-tat tariff hikes are scheduled to take effect Oct. 1 and Dec. 15. Many U.S. companies have warned that they will need to pass on the costs of the tariffs to consumers.

President Donald Trump told reporters Sunday that “We can’t allow China to rip us off anymore as a country,” but said trade negotiations with China were still set to resume this month.

Earlier this weekend, the official gauge of China’s factory activity showed sluggish output for a fourth straight month. The manufacturing purchasing managers index edged down to 49.5 in August from 49.7 in July, according to China’s National Bureau of Statistics, lower than economists’ median forecast of 49.6, the Wall Street Journal reported. Readings below 50 indicate a contraction in factory activity.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.07%   slipped 0.2% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.54%   retreated 0.4%, as continued pro-democracy protests disrupted airport traffic. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.76%   rose 0.7% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.65%    jumped 1%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.62%  advanced 0.1%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.04%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.50%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.50%   pulled back. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.34%   was down 0.1%.

Among individual stocks, e-commerce company Rakuten /zigman2/quotes/201861450/delayed JP:4755 +2.91%   rose in Tokyo trading, while Mazda Motor /zigman2/quotes/204777714/delayed JP:7261 +2.09%   and SoftBank /zigman2/quotes/207303954/delayed JP:9984 -0.11%   fell. In Hong Kong, Tencent /zigman2/quotes/204605823/delayed HK:700 +2.02%   gained while Sino Land /zigman2/quotes/202960683/delayed HK:83 -0.95%   and Sands China /zigman2/quotes/207609245/delayed HK:1928 +4.09%   slid. Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +0.37%   gained in Australia while Woodside Petroleum   and Oil Search   fell.

U.S. markets are closed Monday for the Labor Day holiday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
27,382.56
+19.81 +0.07%
Volume: 0.00
Jan. 27, 2023 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
22,688.90
+122.12 +0.54%
Volume: 2.01M
Jan. 27, 2023 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,264.81
+24.53 +0.76%
Volume: 0.00
Jan. 20, 2023 3:00p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,125.81
+13.71 +0.65%
Volume: 0.00
Jan. 20, 2023 3:00p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,484.02
+15.37 +0.62%
Volume: 509,288
Jan. 27, 2023 3:30p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
14,932.93
+5.92 +0.04%
Volume: 0.00
Jan. 17, 2023 1:33p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,394.21
+17.02 +0.50%
Volume: 0.00
Jan. 27, 2023 5:20p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,898.98
+34.16 +0.50%
Volume: 0.00
Jan. 27, 2023 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,493.80
+25.50 +0.34%
Volume: 705,020
Jan. 27, 2023 5:14p
loading...
/zigman2/quotes/201861450/delayed
JP : Japan: Tokyo
¥ 672.00
+19.00 +2.91%
Volume: 11.05M
Jan. 27, 2023 3:00p
P/E Ratio
N/A
Dividend Yield
0.67%
Market Cap
¥1068.79 billion
Rev. per Employee
¥65.32M
loading...
/zigman2/quotes/204777714/delayed
JP : Japan: Tokyo
¥ 1,028.00
+21.00 +2.09%
Volume: 3.78M
Jan. 27, 2023 3:00p
P/E Ratio
4.51
Dividend Yield
3.89%
Market Cap
¥647.50 billion
Rev. per Employee
¥67.02M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,191.00
-7.00 -0.11%
Volume: 6.18M
Jan. 27, 2023 3:00p
P/E Ratio
N/A
Dividend Yield
0.71%
Market Cap
¥9772.16 billion
Rev. per Employee
¥121.97M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
$ 415.00
+8.20 +2.02%
Volume: 18.63M
Jan. 27, 2023 4:08p
P/E Ratio
18.99
Dividend Yield
0.39%
Market Cap
$3936.30 billion
Rev. per Employee
$5.87M
loading...
/zigman2/quotes/202960683/delayed
HK : Hong Kong
$ 10.40
-0.10 -0.95%
Volume: 3.86M
Jan. 27, 2023 4:08p
P/E Ratio
13.60
Dividend Yield
5.48%
Market Cap
$83.84 billion
Rev. per Employee
$2.24M
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
$ 30.55
+1.20 +4.09%
Volume: 35.01M
Jan. 27, 2023 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$247.25 billion
Rev. per Employee
$438,989
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 126.97
+0.47 +0.37%
Volume: 1.25M
Jan. 27, 2023 4:10p
P/E Ratio
8.48
Dividend Yield
8.24%
Market Cap
$183.97 billion
Rev. per Employee
$1.68M
loading...

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