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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 -0.54%  , 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 -0.35%  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 -1.96%  up nearly 0.6%. There were trouble spots, however. Tencent /zigman2/quotes/204605823/delayed HK:700 -0.81%  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 -0.65%   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 -1.41%   and a 4.8% gain for T&D /zigman2/quotes/208425761/delayed JP:8795 -1.38%  as 10-year Treasury yields returned to 3%. Meanwhile, 10-year JGB yields /zigman2/quotes/211347248/realtime BX:TMBMKJP-10Y +16.43%   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 -1.56%   ending up 1.1%. Tokyo Electron /zigman2/quotes/202883609/delayed JP:8035 -2.61%   initially fell about 2% before recovering somewhat to close down 0.3%. The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.1250%   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 -0.90%   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 -1.50%   rose nearly 0.8%. Taiwan’s Taiex   fell 0.6% as tech names such as Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -1.96%    and Largan Precision /zigman2/quotes/210444196/delayed TW:3008 -1.18%   tumbled.

Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.53%   dipped 0.3% as the energy sector continued its decline. Mining giant BHP Billiton /zigman2/quotes/201448516/delayed AU:BHP -1.34%   was down 0.4% as it announced it was dropping “Billiton” from its name. New Zealand’s benchmark /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.01%   rose slightly.

Stocks in Southeast Asia lagged, with benchmarks in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.34%   and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.38%   dropping slightly.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,230.02
-17.41 -0.54%
Volume: 25.76B
Aug. 10, 2022 3:00p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,180.83
-7.66 -0.35%
Volume: 42.79B
Aug. 10, 2022 3:00p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
19,610.84
-392.60 -1.96%
Volume: 1.73M
Aug. 10, 2022 4:08p
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/zigman2/quotes/204605823/delayed
HK : Hong Kong
$ 295.60
-2.40 -0.81%
Volume: 15.36M
Aug. 10, 2022 4:08p
P/E Ratio
11.80
Dividend Yield
0.54%
Market Cap
$2845.86 billion
Rev. per Employee
$6.03M
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/zigman2/quotes/210597971/delayed
JP : Nikkei
27,819.33
-180.63 -0.65%
Volume: 0.00
Aug. 10, 2022 3:15p
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/zigman2/quotes/208507587/delayed
JP : Japan: Tokyo
¥ 2,233.00
-32.00 -1.41%
Volume: 5.55M
Aug. 10, 2022 3:00p
P/E Ratio
5.84
Dividend Yield
3.85%
Market Cap
¥2177.98 billion
Rev. per Employee
¥114.04M
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/zigman2/quotes/208425761/delayed
JP : Japan: Tokyo
¥ 1,432.00
-20.00 -1.38%
Volume: 4.09M
Aug. 10, 2022 3:00p
P/E Ratio
67.37
Dividend Yield
4.33%
Market Cap
¥828.18 billion
Rev. per Employee
¥177.76M
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/zigman2/quotes/211347248/realtime
add Add to watchlist BX:TMBMKJP-10Y
BX : Tullett Prebon
0.19
+0.03 +16.43%
Volume: 0.00
Aug. 10, 2022 5:22p
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/zigman2/quotes/208948266/delayed
JP : Japan: Tokyo
¥ 4,745.00
-75.00 -1.56%
Volume: 1.62M
Aug. 10, 2022 3:00p
P/E Ratio
9.89
Dividend Yield
2.23%
Market Cap
¥1817.28 billion
Rev. per Employee
¥17.06M
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/zigman2/quotes/202883609/delayed
JP : Japan: Tokyo
¥ 44,410.00
-1,190 -2.61%
Volume: 2.00M
Aug. 10, 2022 3:00p
P/E Ratio
16.36
Dividend Yield
3.78%
Market Cap
¥7738.08 billion
Rev. per Employee
¥129.55M
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
134.9870
-0.1690 -0.1250%
Volume: 0.0000
Aug. 10, 2022 4:23a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,480.88
-22.58 -0.90%
Volume: 471,730
Aug. 10, 2022 3:32p
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
59,100.00
-900.00 -1.50%
Volume: 17.92M
Aug. 10, 2022 3:30p
P/E Ratio
9.28
Dividend Yield
2.44%
Market Cap
₩408633.01 billion
Rev. per Employee
₩2.69B
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/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 500.00
-10.00 -1.96%
Volume: 21.65M
Aug. 10, 2022 1:30p
P/E Ratio
17.01
Dividend Yield
2.20%
Market Cap
NT$13276.36 billion
Rev. per Employee
NT$28.83M
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/zigman2/quotes/210444196/delayed
TW : Taiwan
NT$ 2,090.00
-25.00 -1.18%
Volume: 421,996
Aug. 10, 2022 1:30p
P/E Ratio
13.56
Dividend Yield
3.76%
Market Cap
NT$277.61 billion
Rev. per Employee
N/A
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,992.70
-37.10 -0.53%
Volume: 698,006
Aug. 10, 2022 5:28p
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.30
-0.52 -1.34%
Volume: 7.86M
Aug. 10, 2022 4:10p
P/E Ratio
8.62
Dividend Yield
12.52%
Market Cap
$198.00 billion
Rev. per Employee
N/A
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/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
11,752.09
-1.39 -0.01%
Volume: 0.00
Aug. 10, 2022 5:00p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,282.20
+11.22 +0.34%
Volume: 0.00
Aug. 10, 2022 4:08p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,491.95
-5.73 -0.38%
Volume: 0.00
Aug. 10, 2022 4:08p
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