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

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 +1.55%  , 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 +1.91%  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 +2.28%  up nearly 0.6%. There were trouble spots, however. Tencent /zigman2/quotes/204605823/delayed HK:700 +3.50%  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 -0.52%   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 +1.51%   and a 4.8% gain for T&D /zigman2/quotes/208425761/delayed JP:8795 +1.10%  as 10-year Treasury yields returned to 3%. Meanwhile, 10-year JGB yields /zigman2/quotes/211347248/realtime BX:TMBMKJP-10Y 0.00%   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 -1.45%   ending up 1.1%. Tokyo Electron /zigman2/quotes/202883609/delayed JP:8035 -0.44%   initially fell about 2% before recovering somewhat to close down 0.3%. The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0182%   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 -0.27%   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 -0.15%   rose nearly 0.8%. Taiwan’s Taiex   fell 0.6% as tech names such as Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -0.95%    and Largan Precision /zigman2/quotes/210444196/delayed TW:3008 +1.45%   tumbled.

Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.05%   dipped 0.3% as the energy sector continued its decline. Mining giant BHP Billiton /zigman2/quotes/201448516/delayed AU:BHP +0.54%   was down 0.4% as it announced it was dropping “Billiton” from its name. New Zealand’s benchmark /zigman2/quotes/211587880/delayed NZ:NZ50GR +0.48%   rose slightly.

Stocks in Southeast Asia lagged, with benchmarks in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.06%   and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.14%   dropping slightly.

/zigman2/quotes/210598127/delayed

Add to watchlist CN:SHCOMP

Shanghai Composite Index

CN : China: Shanghai

3,132.43

+47.73 +1.55%

Volume: 28.60B

Sept. 22, 2023 3:00p

/zigman2/quotes/210598015/delayed

Add to watchlist CN:399106

Shenzhen Composite Index

CN : Shenhzen Stock Exchange

1,913.53

+35.90 +1.91%

Volume: 36.74B

Sept. 22, 2023 3:00p

/zigman2/quotes/210598030/delayed

Add to watchlist HK:HSI

Hang Seng Index

HK : Hong Kong Exchange

18,057.45

+402.04 +2.28%

Volume: 1.92M

Sept. 22, 2023 4:08p

/zigman2/quotes/204605823/delayed

Add to watchlist HK:0700

Tencent Holdings Ltd.

HK : Hong Kong

$ 313.60

+10.60 +3.50%

Volume: 21.24M

Sept. 22, 2023 4:08p

P/E Ratio

13.76

Dividend Yield

0.77%

Market Cap

$2970.80 billion

Rev. per Employee

$6.07M

/zigman2/quotes/210597971/delayed

Add to watchlist JP:NIK

NIKKEI 225 Index

JP : Nikkei

32,402.41

-168.62 -0.52%

Volume: 0.00

Sept. 22, 2023 3:15p

/zigman2/quotes/208507587/delayed

Add to watchlist JP:8750

Dai-ichi Life Holdings Inc.

JP : Japan: Tokyo

¥ 3,099.00

+46.00 +1.51%

Volume: 3.87M

Sept. 22, 2023 3:00p

P/E Ratio

17.36

Dividend Yield

2.78%

Market Cap

¥3046.89 billion

Rev. per Employee

¥138.02M

/zigman2/quotes/208425761/delayed

Add to watchlist JP:8795

T&D Holdings Inc.

JP : Japan: Tokyo

¥ 2,534.50

+27.50 +1.10%

Volume: 2.38M

Sept. 22, 2023 3:00p

P/E Ratio

N/A

Dividend Yield

2.76%

Market Cap

¥1413.48 billion

Rev. per Employee

¥196.84M

/zigman2/quotes/211347248/realtime

Add to watchlist BX:TMBMKJP-10Y

Japan 10 Year Government Bond

BX : Tullett Prebon

0.75

0.00 0.00%

Volume: 0.00

Sept. 22, 2023 6:00p

/zigman2/quotes/208948266/delayed

Add to watchlist JP:6762

TDK Corp.

JP : Japan: Tokyo

¥ 5,509.00

-81.00 -1.45%

Volume: 2.36M

Sept. 22, 2023 3:00p

P/E Ratio

21.47

Dividend Yield

2.11%

Market Cap

¥2087.89 billion

Rev. per Employee

¥21.12M

/zigman2/quotes/202883609/delayed

Add to watchlist JP:8035

Tokyo Electron Ltd.

JP : Japan: Tokyo

¥ 20,410.00

-90.00 -0.44%

Volume: 4.32M

Sept. 22, 2023 3:00p

P/E Ratio

21.41

Dividend Yield

1.57%

Market Cap

¥9595.10 billion

Rev. per Employee

¥123.64M

/zigman2/quotes/210561789/realtime/sampled

Add to watchlist USDJPY

Japanese Yen

US : Tullett Prebon

148.2850

-0.0270 -0.0182%

Volume: 0.0000

Sept. 22, 2023 4:59p

/zigman2/quotes/210598069/delayed

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KOSPI Composite Index

KR : Korea Exchange

2,508.13

-6.84 -0.27%

Volume: 433,184

Sept. 22, 2023 6:05p

/zigman2/quotes/209800866/delayed

Add to watchlist KR:005930

Samsung Electronics Co. Ltd.

KR : S. Korea: KRX

₩ 68,800.00

-100.00 -0.15%

Volume: 9.90M

Sept. 22, 2023 6:09p

P/E Ratio

13.13

Dividend Yield

2.10%

Market Cap

₩455979.82 billion

Rev. per Employee

N/A

/zigman2/quotes/207385621/delayed

Add to watchlist TW:2330

Taiwan Semiconductor Manufacturing Co. Ltd.

TW : Taiwan

NT$ 522.00

-5.00 -0.95%

Volume: 31.22M

Sept. 22, 2023 1:30p

P/E Ratio

14.02

Dividend Yield

2.20%

Market Cap

NT$13536.54 billion

Rev. per Employee

N/A

/zigman2/quotes/210444196/delayed

Add to watchlist TW:3008

LARGAN Precision Co. Ltd.

TW : Taiwan

NT$ 2,095.00

+30.00 +1.45%

Volume: 425,213

Sept. 22, 2023 1:30p

P/E Ratio

14.76

Dividend Yield

3.46%

Market Cap

NT$279.62 billion

Rev. per Employee

NT$5.79M

/zigman2/quotes/210598100/delayed

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S&P/ASX 200 Benchmark Index

AU : S&P ASX

7,068.80

+3.60 +0.05%

Volume: 917,754

Sept. 22, 2023 5:04p

/zigman2/quotes/201448516/delayed

Add to watchlist AU:BHP

BHP Group Ltd.

AU : Australia: Sydney

$ 44.34

+0.24 +0.54%

Volume: 13.38M

Sept. 22, 2023 4:10p

P/E Ratio

11.71

Dividend Yield

5.90%

Market Cap

$224.71 billion

Rev. per Employee

N/A

/zigman2/quotes/211587880/delayed

Add to watchlist NZ:NZ50GR

S&P/NZX 50 Gross Index

NZ : New Zealand: NZX

11,372.62

+53.88 +0.48%

Volume: 0.00

Sept. 22, 2023 6:00p

/zigman2/quotes/210597985/delayed

Add to watchlist SG:STI

FTSE Straits Times Index

SG : Singapore: SGX

3,204.82

+2.01 +0.06%

Volume: 0.00

Sept. 22, 2023 5:20p

/zigman2/quotes/210598052/delayed

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FTSE Bursa Malaysia KLCI

MY : Malaysia

1,450.23

+2.02 +0.14%

Volume: 0.00

Sept. 22, 2023 5:05p