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March 11, 2019, 2:37 a.m. EDT

Asian markets mixed as worries of a global slowdown accelerate

Up-and-down session for Nikkei, stocks surge in Shanghai and Shenzhen

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By Associated Press and Marketwatch


Reuters
South Korean and Chinese speed skaters compete in the world short-track championship Saturday.

Shares were mixed in Asia on Monday as investors awaited further developments in trade talks between the U.S. and China.

Major benchmarks were mostly higher, with the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +2.28% up 1% to 3,001.51 and the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.52% in Hong Kong gaining 0.6% to 28,387.46.

Weaker-than-expected Chinese loan and money supply data raised expectations of further action to spur the slowing economy. The 885.8 billion yuan ($132 billion) in new loans in February was below forecasts and much lower than the 3.23 trillion yuan in new lending in January.

Elsewhere in Asia, Japan’s Nikkei 225 index /zigman2/quotes/210597971/delayed JP:NIK -0.69% added 0.5% to 21,125.09 and the S&P ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.07%  in Australia slipped 0.4%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.06%  was flat. Shares were lower in Singapore and Jakarta but rose in Thailand and Taipei.

Among individual stocks, Hitachi /zigman2/quotes/203839937/delayed JP:6501 -1.15%   and SoftBank /zigman2/quotes/207303954/delayed JP:9984 +0.42%   rose in Tokyo trading, while shipping Mitsui OSK Lines /zigman2/quotes/204152844/delayed JP:9104 -0.68%   fell. Smartphone component maker AAC /zigman2/quotes/201441510/delayed HK:2018 +2.44%   fell in Hong Kong, as did property stocks such as Country Garden Holdings /zigman2/quotes/201681083/delayed HK:2007 +0.18%   and China Overseas Land & Investment /zigman2/quotes/205731176/delayed HK:688 0.00%  . LG Electronics /zigman2/quotes/209966407/delayed KR:066570 0.00%   gained in Korea, and Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -1.04%   slipped in Taiwan. Energy shares fell in Australia, led by Oil Search /zigman2/quotes/204702973/delayed AU:OSH -0.31%  , Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +0.95%   and Woodside Petroleum /zigman2/quotes/203437212/delayed AU:WPL +1.49%  .

It was a steady start for the week after a wave of selling on Wall Street Friday left the S&P 500 with its worst weekly showing since January and its eighth loss in nine trading sessions.

The sell-off followed a surprisingly weak jobs report and more signs that the global economy is hitting the brakes. On Friday a report showed Chinese exports plunged 20% last month, far more than economists expected. On Thursday, Europe’s central bank said it was doing a policy reversal and restoring measures to shore up that region’s economy.

The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.18%   dropped 0.2% to 2,743.07. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.09%  lost 0.1% to 25,450.24. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +0.20%  declined 0.2%to 7,408.14 and the Russell 2000 index /zigman2/quotes/210598147/delayed RUT -0.36%  of smaller companies gave up 0.1%, to 1,521.88. Major European indexes also closed lower.

U.S. and Chinese officials say the trade talks are making progress but no formal agreements or details of negotiations have been released.

China’s central bank governor on Sunday affirmed an official promise to avoid manipulating its currency to boost exports, an issue he said American and Chinese negotiators discussed in the latest talks in Washington aimed at ending a conflict over Beijing’s technology ambitions that has prompted both sides to raise tariffs on billions of dollars of each other’s goods.

Speaking at a news conference during the meeting of China’s ceremonial legislature, Yi Gang gave no indication the two sides had reached agreements beyond previous commitments produced by meetings of the Group of 20 major economies.

U.S. complaints that Beijing manipulates the yuan’s government-controlled exchange rate for a trade advantage have taken a backseat lately to frustration at its industrial policy. But American officials have long pressed China to allow the yuan to fluctuate more freely in response to market forces.

“’We stress that we will never use the exchange rate for competitive purposes, nor will we use it to boost China’s exports,” Yi said.

He repeated official promises that China’s stock and bond markets would open wider to global investors and its currency would trade more freely but gave no details or a timeline.

The yuan’s value sank this year, coming close to breaking the symbolic level of seven per dollar before rebounding slightly to about 6.7 to the greenback.

“Our exchange rate is relatively stable. But at the same time, that stability does not mean the exchange rate is fixed,” said Yi.

Benchmark U.S. crude oil  gained 27 cents to $56.34 per barrel in electronic trading on the New York Mercantile Exchange. It lost 59 cents to $56.07 per barrel on Friday. Brent   the international standard, gained 28 cents to $66.02 per barrel. It lost 0.8 cents to close at $65.74 per barrel on Friday.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1540%  was trading at 111.12 yen, down slightly from 111.17 yen on Friday. The euro /zigman2/quotes/210561242/realtime/sampled EURUSD +0.0462%  strengthened to $1.1233 from $1.1230.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.69%   was last up 0.2% after earlier being in the red. Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.52%   rose 0.6%, while in mainland China, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +2.28%   bounced up 1.2% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +3.18%   jumped 2.3%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.06%   fell 0.2%, while indexes in Taiwan   and Singapore /zigman2/quotes/210597985/delayed SG:STI -0.22%   were about flat. Australia’s ASX/200 /zigman2/quotes/210598100/delayed AU:XJO -0.07%   was down about 0.5%

Among individual stocks, Hitachi /zigman2/quotes/203839937/delayed JP:6501 -1.15%   and SoftBank /zigman2/quotes/207303954/delayed JP:9984 +0.42%   rose in Tokyo trading, while shipping Mitsui OSK Lines /zigman2/quotes/204152844/delayed JP:9104 -0.68%   fell. Smartphone component maker AAC /zigman2/quotes/201441510/delayed HK:2018 +2.44%   fell in Hong Kong, as did property stocks such as Country Garden Holdings /zigman2/quotes/201681083/delayed HK:2007 +0.18%   and China Overseas Land & Investment /zigman2/quotes/205731176/delayed HK:688 0.00%  . LG Electronics /zigman2/quotes/209966407/delayed KR:066570 0.00%   gained in Korea, and Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -1.04%   slipped in Taiwan. Energy shares fell in Australia, led by Oil Search /zigman2/quotes/204702973/delayed AU:OSH -0.31%  , Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +0.95%   and Woodside Petroleum /zigman2/quotes/203437212/delayed AU:WPL +1.49%  .

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,983.62
+66.61 +2.28%
Volume: 31.32B
Feb. 17, 2020 3:01p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,959.60
+144.00 +0.52%
Volume: 1.41M
Feb. 17, 2020 4:08p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
23,523.24
-164.35 -0.69%
Volume: 0.00
Feb. 17, 2020 3:15p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,125.10
-5.10 -0.07%
Volume: 501,267
Feb. 17, 2020 5:53p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,242.17
-1.42 -0.06%
Volume: 458,247
Feb. 17, 2020 3:30p
loading...
/zigman2/quotes/203839937/delayed
JP : Japan: Tokyo
¥ 4,116.00
-48.00 -1.15%
Volume: 2.44M
Feb. 17, 2020 3:00p
P/E Ratio
20.41
Dividend Yield
2.19%
Market Cap
¥4023.41 billion
Rev. per Employee
¥30.84M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,540.00
+23.00 +0.42%
Volume: 15.56M
Feb. 17, 2020 3:00p
P/E Ratio
37.17
Dividend Yield
0.79%
Market Cap
¥11427.70 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/204152844/delayed
JP : Japan: Tokyo
¥ 2,497.00
-17.00 -0.68%
Volume: 740,300
Feb. 17, 2020 3:00p
P/E Ratio
5.59
Dividend Yield
2.60%
Market Cap
¥300.65 billion
Rev. per Employee
¥125.14M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 58.85
+1.40 +2.44%
Volume: 8.52M
Feb. 17, 2020 4:08p
P/E Ratio
22.45
Dividend Yield
2.43%
Market Cap
HK$69.43 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/201681083/delayed
HK : Hong Kong
HK$ 11.04
+0.02 +0.18%
Volume: 20.78M
Feb. 17, 2020 4:08p
P/E Ratio
5.62
Dividend Yield
5.42%
Market Cap
HK$237.61 billion
Rev. per Employee
HK$3.60M
loading...
/zigman2/quotes/205731176/delayed
HK : Hong Kong
HK$ 28.65
0.00 0.00%
Volume: 15.84M
Feb. 17, 2020 4:08p
P/E Ratio
6.73
Dividend Yield
3.32%
Market Cap
HK$313.90 billion
Rev. per Employee
HK$30.79M
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
67,000.00
0.00 0.00%
Volume: 560,384
Feb. 17, 2020 3:30p
P/E Ratio
65.91
Dividend Yield
1.12%
Market Cap
₩12064.40 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 331.50
-3.50 -1.04%
Volume: 15.94M
Feb. 17, 2020 1:30p
P/E Ratio
24.90
Dividend Yield
2.87%
Market Cap
NT$8686.68 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204702973/delayed
AU : Australia: Sydney
$ 6.45
-0.02 -0.31%
Volume: 3.75M
Feb. 17, 2020 4:10p
P/E Ratio
16.69
Dividend Yield
3.01%
Market Cap
$9.87 billion
Rev. per Employee
$1.46M
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 2.13
+0.02 +0.95%
Volume: 15.78M
Feb. 17, 2020 4:10p
P/E Ratio
8.50
Dividend Yield
0.94%
Market Cap
$4.81 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 33.32
+0.49 +1.49%
Volume: 2.07M
Feb. 17, 2020 4:10p
P/E Ratio
64.46
Dividend Yield
4.06%
Market Cap
$30.87 billion
Rev. per Employee
$1.92M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,380.16
+6.22 +0.18%
Volume: 1.67B
Feb. 14, 2020 5:06p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,398.08
-25.23 -0.09%
Volume: 232.55M
Feb. 14, 2020 5:06p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
9,731.18
+19.21 +0.20%
Volume: 2.03M
Feb. 14, 2020 5:16p
loading...
/zigman2/quotes/210598147/delayed
US : US Composite
1,687.58
-6.15 -0.36%
Volume: 1.15M
Feb. 14, 2020 4:30p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.9360
+0.1690 +0.1540%
Volume: 0.0000
Feb. 17, 2020 2:43p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.0836
+0.0005 +0.0462%
Volume: 0.0000
Feb. 17, 2020 2:43p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
23,523.24
-164.35 -0.69%
Volume: 0.00
Feb. 17, 2020 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,959.60
+144.00 +0.52%
Volume: 1.41M
Feb. 17, 2020 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,983.62
+66.61 +2.28%
Volume: 31.32B
Feb. 17, 2020 3:01p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,835.96
+56.53 +3.18%
Volume: 48.11B
Feb. 17, 2020 3:00p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,242.17
-1.42 -0.06%
Volume: 458,247
Feb. 17, 2020 3:30p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,213.00
-7.03 -0.22%
Volume: 0.00
Feb. 17, 2020 5:20p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,125.10
-5.10 -0.07%
Volume: 501,267
Feb. 17, 2020 5:53p
loading...
/zigman2/quotes/203839937/delayed
JP : Japan: Tokyo
¥ 4,116.00
-48.00 -1.15%
Volume: 2.44M
Feb. 17, 2020 3:00p
P/E Ratio
20.41
Dividend Yield
2.19%
Market Cap
¥4023.41 billion
Rev. per Employee
¥30.84M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,540.00
+23.00 +0.42%
Volume: 15.56M
Feb. 17, 2020 3:00p
P/E Ratio
37.17
Dividend Yield
0.79%
Market Cap
¥11427.70 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/204152844/delayed
JP : Japan: Tokyo
¥ 2,497.00
-17.00 -0.68%
Volume: 740,300
Feb. 17, 2020 3:00p
P/E Ratio
5.59
Dividend Yield
2.60%
Market Cap
¥300.65 billion
Rev. per Employee
¥125.14M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 58.85
+1.40 +2.44%
Volume: 8.52M
Feb. 17, 2020 4:08p
P/E Ratio
22.45
Dividend Yield
2.43%
Market Cap
HK$69.43 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/201681083/delayed
HK : Hong Kong
HK$ 11.04
+0.02 +0.18%
Volume: 20.78M
Feb. 17, 2020 4:08p
P/E Ratio
5.62
Dividend Yield
5.42%
Market Cap
HK$237.61 billion
Rev. per Employee
HK$3.60M
loading...
/zigman2/quotes/205731176/delayed
HK : Hong Kong
HK$ 28.65
0.00 0.00%
Volume: 15.84M
Feb. 17, 2020 4:08p
P/E Ratio
6.73
Dividend Yield
3.32%
Market Cap
HK$313.90 billion
Rev. per Employee
HK$30.79M
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
67,000.00
0.00 0.00%
Volume: 560,384
Feb. 17, 2020 3:30p
P/E Ratio
65.91
Dividend Yield
1.12%
Market Cap
₩12064.40 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 331.50
-3.50 -1.04%
Volume: 15.94M
Feb. 17, 2020 1:30p
P/E Ratio
24.90
Dividend Yield
2.87%
Market Cap
NT$8686.68 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204702973/delayed
AU : Australia: Sydney
$ 6.45
-0.02 -0.31%
Volume: 3.75M
Feb. 17, 2020 4:10p
P/E Ratio
16.69
Dividend Yield
3.01%
Market Cap
$9.87 billion
Rev. per Employee
$1.46M
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 2.13
+0.02 +0.95%
Volume: 15.78M
Feb. 17, 2020 4:10p
P/E Ratio
8.50
Dividend Yield
0.94%
Market Cap
$4.81 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 33.32
+0.49 +1.49%
Volume: 2.07M
Feb. 17, 2020 4:10p
P/E Ratio
64.46
Dividend Yield
4.06%
Market Cap
$30.87 billion
Rev. per Employee
$1.92M
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