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April 26, 2019, 9:21 a.m. EDT

China logs worst week of 2019, as most Asia markets struggle

Nintendo, SoftBank weigh on Nikkei; Hang Seng up slightly

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By Marketwatch and Associated Press


Reuters
A Hong Kong Airlines Airbus A330-300 lands at Hong Kong Airport. Shares of parent HNA Group fell Friday.

Asian markets finished mostly lower to end the trading week on Friday, with Chinese stocks logging the worst weekly return since last year and a continued drop in oil prices also depressing some markets.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.23%   fell 0.2% while Hong Kong’s Hang Seng index /zigman2/quotes/210598030/delayed HK:HSI +1.07%   edged up 0.2%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.43%  slid 1.1%, for a 5.6% drop, its worst weekly finish since October 2018. The market has been dogged this week by concerns that the Chinese government will slow its economic stimulus efforts.

Chinese President Xi Jinping addressed the Belt and Road Forum in Beijing, giving assurance that the yuan exchange rate will be stable at reasonable levels. The yuan climbed 0.2% on the news.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.02%  was down 0.5%. Stocks were about flat in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.65%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.56%  , but down in Taiwan  . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.36%  finished down 0.5%.

Among individual stocks, Nintendo /zigman2/quotes/208063194/delayed JP:7974 +0.18%   slumped in Tokyo trading after issuing an “ultra-conservative guidance” for the year following earnings. SoftBank /zigman2/quotes/207303954/delayed JP:9984 +0.16%   also fell, while Yahoo Japan /zigman2/quotes/207641152/delayed JP:4689 -0.26%   jumped. In Hong Kong, Country Garden /zigman2/quotes/201681083/delayed HK:2007 +1.27%   and AAC Technologies /zigman2/quotes/201441510/delayed HK:2018 +8.97%   rise while CNOOC /zigman2/quotes/203421416/delayed HK:883 0.00%   slipped. Shares of Hong Kong Airlines parent HNA Group /zigman2/quotes/203177958/delayed CN:600221 0.00%   fell amid a battle for control of the company . LG Electronics /zigman2/quotes/209966407/delayed KR:066570 +0.29%   and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +2.28%   declined in South Korea, as did Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 +0.32%   in Taiwan. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +3.75%   and Fortescue Metals /zigman2/quotes/202351558/delayed AU:FMG -0.60%   dropped in Australia.

Oil prices pulled back from multi-month highs Thursday, and U.S.-based West Texas Intermediate crude for June delivery   and June Brent crude  , the global benchmark, continued to slide Friday.

“End of U.S.-Iran sanctions waivers are still the principle focus,” Stephen Innes, head of trading at SPI Asset Management, said in a note. “But perhaps price action was a bit to too enthusiastic.”

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,354.40
+54.31 +0.23%
Volume: 0.00
Dec. 6, 2019 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,498.37
+281.33 +1.07%
Volume: 1.64M
Dec. 6, 2019 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,912.01
+12.55 +0.43%
Volume: 13.41B
Dec. 6, 2019 3:01p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,081.85
+21.11 +1.02%
Volume: 440,188
Dec. 6, 2019 6:01p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,194.71
+20.52 +0.65%
Volume: 0.00
Dec. 6, 2019 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,186.87
+34.75 +0.56%
Volume: 0.00
Dec. 6, 2019 4:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,707.00
+24.00 +0.36%
Volume: 459,318
Dec. 6, 2019 5:09p
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/zigman2/quotes/208063194/delayed
JP : Japan: Tokyo
¥ 43,760.00
+80.00 +0.18%
Volume: 1.19M
Dec. 6, 2019 3:00p
P/E Ratio
27.38
Dividend Yield
1.74%
Market Cap
¥5203.35 billion
Rev. per Employee
¥217.41M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 4,257.00
+7.00 +0.16%
Volume: 10.04M
Dec. 6, 2019 3:00p
P/E Ratio
9.62
Dividend Yield
1.03%
Market Cap
¥8802.76 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/207641152/delayed
JP : Japan: Tokyo
¥ 379.00
-1.00 -0.26%
Volume: 11.58M
Dec. 6, 2019 3:00p
P/E Ratio
25.22
Dividend Yield
2.34%
Market Cap
¥1809.72 billion
Rev. per Employee
¥77.26M
loading...
/zigman2/quotes/201681083/delayed
HK : Hong Kong
HK$ 11.14
+0.14 +1.27%
Volume: 13.23M
Dec. 6, 2019 4:08p
P/E Ratio
5.67
Dividend Yield
5.37%
Market Cap
HK$237.07 billion
Rev. per Employee
HK$3.60M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 61.95
+5.10 +8.97%
Volume: 26.79M
Dec. 6, 2019 4:08p
P/E Ratio
23.63
Dividend Yield
2.31%
Market Cap
HK$68.70 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 11.30
0.00 0.00%
Volume: 45.35M
Dec. 6, 2019 4:08p
P/E Ratio
7.64
Dividend Yield
6.46%
Market Cap
HK$504.52 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/203177958/delayed
CN : China: Shanghai
¥ 1.67
0.00 0.00%
Volume: 22.36M
Dec. 6, 2019 3:00p
P/E Ratio
N/A
Dividend Yield
1.08%
Market Cap
¥28.07 billion
Rev. per Employee
¥2.70M
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
70,200.00
+200.00 +0.29%
Volume: 272,392
Dec. 6, 2019 3:30p
P/E Ratio
17.16
Dividend Yield
1.07%
Market Cap
₩12604.60 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
80,600.00
+1,800 +2.28%
Volume: 3.05M
Dec. 6, 2019 3:30p
P/E Ratio
9.97
Dividend Yield
1.86%
Market Cap
₩53899.30 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 313.00
+1.00 +0.32%
Volume: 17.70M
Dec. 6, 2019 1:30p
P/E Ratio
24.65
Dividend Yield
0.00%
Market Cap
NT$8090.28 billion
Rev. per Employee
N/A
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/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 2.49
+0.09 +3.75%
Volume: 6.58M
Dec. 6, 2019 4:10p
P/E Ratio
9.85
Dividend Yield
0.80%
Market Cap
$5.47 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202351558/delayed
AU : Australia: Sydney
$ 9.91
-0.06 -0.60%
Volume: 7.67M
Dec. 6, 2019 4:10p
P/E Ratio
6.84
Dividend Yield
4.34%
Market Cap
$30.78 billion
Rev. per Employee
N/A
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