Bulletin
Investor Alert

Asia Markets Archives | Email alerts

Sept. 15, 2019, 11:22 p.m. EDT

Asian markets mostly fall as crude prices soar

Hang Seng slides amid more worrying economic news from China

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Hang Seng Index (HSI)

or Cancel Already have a watchlist? Log In

By Marketwatch and Associated Press


Associated Press
Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on Sunday..

Asian markets mostly fell in early trading Monday as global crude futures soared following the weekend attack on Saudi Arabian oil facilities.

West Texas Intermediate crude for October delivery  , the U.S. benchmark contract, was up 10.4%, or $5.71, at $60.57 a barrel on electronic exchange Globex on Sunday, on track for its largest daily gain since February 2016. November Brent crude   jumped $6.97, or 11.6%, to trade at $67.18 a barrel, which would also mark the sharpest daily rise for the international benchmark grade since February 2016.

Saturday’s attack on Saudi oil fields knocked out about half that country’s oil production. Saudi officials said Sunday they expect to regain about one-third of that output capacity by Monday, but experts said it may take weeks for production to return to normal levels. Top U.S. officials blamed Iran — which denied responsibility — and President Donald Trump warned the U.S. was “locked and loaded,” suggested possible military action.

Separately, investors were dealt worrying information about China’s economy. Chinese Premier Li Keqiang said in an interview it will be “very difficult” for the country’s economy to grow at an annual rate of 6% or more in the current global climate, Reuters reported Sunday. China is aiming for GDP growth this year of 6% to 6.5%, and in the second quarter, GDP rose 6.2%, its slowest rate in 27 years.

Furthermore, data showed China’s industrial production growth in August was 4.4% year-over-year, the weakest reading in more than 17 years, Reuters reported . Analysts had expected 5.2% growth.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +3.32%   fell 1% and the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +1.68%   was about flat, while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +2.51%   inched up 0.3%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.46%   gained 0.5%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +1.30%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +1.73%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.79%   were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.85%   was about flat. Japan’s Nikkei was closed for a holiday.

Among individual stocks, oil producer CNOOC /zigman2/quotes/203421416/delayed HK:883 +4.52%   surged in Hong Kong, while Geely Automobile /zigman2/quotes/200716015/delayed HK:175 +3.40%   and Tencent /zigman2/quotes/204605823/delayed HK:700 +3.70%   fell. LG Electronics /zigman2/quotes/209966407/delayed KR:066570 -0.17%   rose in South Korea while SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +2.45%   sank. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.55%  , Oil Search /zigman2/quotes/204702973/delayed AU:OSH +1.72%   and BHP /zigman2/quotes/201448516/delayed AU:BHP +2.63%   soared in Australia.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,724.93
+763.46 +3.32%
Volume: 1.23M
June 1, 2020 11:16a
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,900.36
+48.00 +1.68%
Volume: 14.47B
June 1, 2020 11:15a
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,831.37
+44.87 +2.51%
Volume: 22.18B
June 1, 2020 11:16a
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,059.25
+29.65 +1.46%
Volume: 502,848
June 1, 2020 12:11p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
11,084.89
+142.73 +1.30%
Volume: 0.00
June 1, 2020 11:11a
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,554.21
+43.46 +1.73%
Volume: 0.00
June 1, 2020 11:16a
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,753.61
+37.43 +0.79%
Volume: 0.00
May 29, 2020 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,804.90
+49.20 +0.85%
Volume: 405,970
June 1, 2020 1:11p
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 9.02
+0.39 +4.52%
Volume: 37.77M
June 1, 2020 11:15a
P/E Ratio
5.82
Dividend Yield
8.65%
Market Cap
HK$385.31 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 10.96
+0.36 +3.40%
Volume: 71.03M
June 1, 2020 11:16a
P/E Ratio
10.83
Dividend Yield
2.28%
Market Cap
HK$97.65 billion
Rev. per Employee
HK$3.04M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 425.60
+15.20 +3.70%
Volume: 11.80M
June 1, 2020 11:16a
P/E Ratio
38.32
Dividend Yield
0.28%
Market Cap
HK$3886.67 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
59,200.00
-100.00 -0.17%
Volume: 305,870
June 1, 2020 12:11p
P/E Ratio
21.94
Dividend Yield
1.27%
Market Cap
₩10677.90 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
83,500.00
+2,000 +2.45%
Volume: 1.89M
June 1, 2020 12:11p
P/E Ratio
36.65
Dividend Yield
1.20%
Market Cap
₩55746.10 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.64
+0.03 +1.55%
Volume: 7.91M
June 1, 2020 1:10p
P/E Ratio
6.54
Dividend Yield
1.22%
Market Cap
$3.68 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204702973/delayed
AU : Australia: Sydney
$ 3.54
+0.06 +1.72%
Volume: 6.62M
June 1, 2020 1:10p
P/E Ratio
12.07
Dividend Yield
3.99%
Market Cap
$7.23 billion
Rev. per Employee
$1.46M
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 35.55
+0.91 +2.63%
Volume: 2.97M
June 1, 2020 1:11p
P/E Ratio
13.30
Dividend Yield
5.99%
Market Cap
$175.17 billion
Rev. per Employee
N/A
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.