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Sept. 18, 2018, 6:24 a.m. EDT

Shanghai stocks bounce back from nearly 4-year low as U.S.-China tariff fight hits another level

Japan’s Nikkei reopens to gains and the highest level in months

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By Dow Jones Newswire


Bloomberg News
Casinos and hotels reopened in Macau, China on Monday, but Macau casino stocks retreated after Typhoon Mangkhut forced a 33-hour shutdown of the worlds biggest gambling hub.

Asian stock markets largely gained Tuesday, as investors generally shrugged off the latest round of U.S. tariffs on $200 billion of Chinese goods set to go into effect next week.

Read: Trump to impose another $200 billion in tariffs on Chinese goods

Chinese stocks gained after a rough stretch, showing scant initial reaction to the U.S. confirming that another round of import tariffs are on the way. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.26%  , after notching a nearly four-year closing low Monday, bounced back to gain 1.8%. The smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.62%  rose nearly 1.7%.

Hong Kong stocks recovered Tuesday, having dropped in 10 of 14 trading days, with the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.69%  up nearly 0.6%. There were trouble spots, however. Tencent /zigman2/quotes/204605823/delayed HK:700 -0.98%  slipped 0.4%, while Macau casino stocks wavered as the enclave gets up and running after Sunday’s typhoon prompted a day-long closure of the facilities. Nomura is predicting that the storm will cut this month’s gross-gaming revenue growth by some 5 percentage points. The investment bank had been predicting mid-teens growth in September for the metric before typhoon Mangkhut’s arrival.

After a holiday Monday, trading resumed in Japan with the Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.43%   jumping 1.4% to hit fresh 7½-month highs. Big insurers contributed, including a more than 4% gain for Dai-ichi Life /zigman2/quotes/208507587/delayed JP:8750 +0.08%   and a 4.8% gain for T&D /zigman2/quotes/208425761/delayed JP:8795 +0.99%  as 10-year Treasury yields returned to 3%. Meanwhile, 10-year JGB yields /zigman2/quotes/211347248/realtime BX:TMBMKJP-10Y +85.71%   were up a half basis point at nearly 0.12%.

Tech names were weaker initially following the slide in the Nasdaq on Monday but some recovered, with TDK /zigman2/quotes/208948266/delayed JP:6762 -1.19%   ending up 1.1%. Tokyo Electron /zigman2/quotes/202883609/delayed JP:8035 -2.12%   initially fell about 2% before recovering somewhat to close down 0.3%. The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0199%   continued to rebound, climbing to ¥111.80, also providing a boost to a number of Japanese export stocks.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.33%   was up 0.3%, as the leaders of North and South Korea kicked off a three-day summit. Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.93%   rose nearly 0.8%. Taiwan’s Taiex   fell 0.6% as tech names such as Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 +1.40%    and Largan Precision /zigman2/quotes/210444196/delayed TW:3008 +6.80%   tumbled.

Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.68%   dipped 0.3% as the energy sector continued its decline. Mining giant BHP Billiton /zigman2/quotes/201448516/delayed AU:BHP +4.93%   was down 0.4% as it announced it was dropping “Billiton” from its name. New Zealand’s benchmark /zigman2/quotes/211587880/delayed NZ:NZ50GR +0.06%   rose slightly.

Stocks in Southeast Asia lagged, with benchmarks in Singapore /zigman2/quotes/210597985/delayed SG:STI +1.04%   and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +1.30%   dropping slightly.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,386.46
+8.90 +0.26%
Volume: 41.53B
Aug. 6, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,304.52
-14.40 -0.62%
Volume: 53.40B
Aug. 6, 2020 3:00p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,930.58
-171.96 -0.69%
Volume: 1.60M
Aug. 6, 2020 4:08p
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/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 555.50
-5.50 -0.98%
Volume: 20.57M
Aug. 6, 2020 4:08p
P/E Ratio
50.02
Dividend Yield
0.22%
Market Cap
HK$5329.12 billion
Rev. per Employee
HK$8.27M
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/zigman2/quotes/210597971/delayed
JP : Nikkei
22,418.15
-96.70 -0.43%
Volume: 0.00
Aug. 6, 2020 3:15p
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/zigman2/quotes/208507587/delayed
JP : Japan: Tokyo
¥ 1,306.50
+1.00 +0.08%
Volume: 2.16M
Aug. 6, 2020 3:00p
P/E Ratio
47.24
Dividend Yield
4.75%
Market Cap
¥1474.40 billion
Rev. per Employee
¥103.65M
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/zigman2/quotes/208425761/delayed
JP : Japan: Tokyo
¥ 922.00
+9.00 +0.99%
Volume: 2.84M
Aug. 6, 2020 3:00p
P/E Ratio
8.45
Dividend Yield
4.77%
Market Cap
¥548.43 billion
Rev. per Employee
¥153.74M
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/zigman2/quotes/211347248/realtime
add Add to watchlist BX:TMBMKJP-10Y
BX : Tullett Prebon
0.02
+0.0090 +85.71%
Volume: 0.00
Aug. 6, 2020 6:00p
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/zigman2/quotes/208948266/delayed
JP : Japan: Tokyo
¥ 11,620.00
-140.00 -1.19%
Volume: 697,000
Aug. 6, 2020 3:00p
P/E Ratio
26.57
Dividend Yield
1.38%
Market Cap
¥1485.55 billion
Rev. per Employee
¥13.41M
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/zigman2/quotes/202883609/delayed
JP : Japan: Tokyo
¥ 28,565.00
-620.00 -2.12%
Volume: 973,900
Aug. 6, 2020 3:00p
P/E Ratio
21.47
Dividend Yield
2.31%
Market Cap
¥4539.07 billion
Rev. per Employee
¥110.09M
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
105.5760
-0.0210 -0.0199%
Volume: 0.0000
Aug. 6, 2020 3:45p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,342.61
+30.75 +1.33%
Volume: 797,147
Aug. 6, 2020 3:32p
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
58,000.00
+1,100 +1.93%
Volume: 21.63M
Aug. 6, 2020 3:30p
P/E Ratio
18.51
Dividend Yield
2.44%
Market Cap
₩380783.86 billion
Rev. per Employee
N/A
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/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 435.00
+6.00 +1.40%
Volume: 41.03M
Aug. 6, 2020 1:30p
P/E Ratio
24.80
Dividend Yield
2.30%
Market Cap
NT$11124.13 billion
Rev. per Employee
N/A
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/zigman2/quotes/210444196/delayed
TW : Taiwan
NT$ 4,160.00
+265.00 +6.80%
Volume: 2.06M
Aug. 6, 2020 1:30p
P/E Ratio
19.83
Dividend Yield
1.90%
Market Cap
NT$522.48 billion
Rev. per Employee
N/A
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,042.20
+40.90 +0.68%
Volume: 696,467
Aug. 6, 2020 5:11p
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 39.82
+1.87 +4.93%
Volume: 11.22M
Aug. 6, 2020 4:10p
P/E Ratio
14.90
Dividend Yield
5.35%
Market Cap
$180.34 billion
Rev. per Employee
N/A
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/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
11,764.59
+6.87 +0.06%
Volume: 0.00
Aug. 6, 2020 5:00p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,559.10
+26.41 +1.04%
Volume: 0.00
Aug. 6, 2020 5:20p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,588.57
+20.44 +1.30%
Volume: 0.00
Aug. 6, 2020 5:05p
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