Asian markets slip on global growth worries

By Associated Press and Marketwatch

AFP/Getty Images

A Chinese worker sets up lantern decorations in a tree Monday, ahead of the upcoming Lunar New Year celebrationss.

Asian markets were lower on Tuesday after the International Monetary Fund trimmed its global outlook for 2019 and 2020. The downgrade came after China said its economy grew at the slowest pace in 30 years in the last quarter of 2018. Wall Street was closed for a holiday on Monday.

Japan’s Nikkei 225 index /zigman2/quotes/210597971/delayed JP:NIK +0.34%   shed 0.5% and the Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.67%   in South Korea was down 0.6%. Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.17%   lost 0.9%. The Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP +1.84%   fell 0.7%, as did the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +2.15%  . Australia’s S&P ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.25%   slipped 0.4%. Shares fell in Taiwan   and Singapore /zigman2/quotes/210597985/delayed SG:STI -0.47% .

Among individual stocks, convenience store chain FamilyMart /zigman2/quotes/207640090/delayed JP:8028 -0.32%   surged in Tokyo while Dai-ichi Life /zigman2/quotes/208507587/delayed JP:8750 -0.09%   and Uniqlo parent Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 -0.58%   fell. In Hong Kong, real estate investment companies Wharf /zigman2/quotes/205885756/delayed HK:1997 -0.84%   and Link /zigman2/quotes/206625692/delayed HK:823 -0.19%   led gainers while tech companies such as AAC /zigman2/quotes/201441510/delayed HK:2018 +0.62%  , Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +1.08%   and Tencent /zigman2/quotes/204605823/delayed HK:700 -0.34%   dropped. In South Korea, Samsung Electronics /zigman2/quotes/209800866/delayed KR:005930 -0.33%   fell, along with chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.48%  . In Australia, banking stocks took a hit, with Australia and New Zealand Banking Group /zigman2/quotes/205482049/delayed AU:ANZ +1.01%  , Westpac /zigman2/quotes/203084975/delayed AU:WBC +0.27%   and National Australia Bank /zigman2/quotes/210431826/delayed AU:NAB +0.33%   falling.

On Monday, the International Monetary Fund cut its 2019 global growth estimate to 3.5% from 3.7%, citing trade tensions and rising interest rates. It also revised its estimate for 2020 to 3.6%, down from 3.7%. IMF Managing Director Christine Lagarde, who presented the forecasts at the World Economic Forum in Davos, Switzerland, said the global economy was growing more slowly than expected amid rising risks. Earlier in the day, China reported its economy expanded by 6.6% in 2018. This was the slowest pace of growth since 1990 and it fueled fears a trade dispute with Washington is putting a drag on the world’s second largest economy.

“Against the backdrop of refreshed woes over growth and U.S. markets having been away for the Martin Luther King Jr. Day, there leaves little to inspire Asia markets,” Jingyi Pan of IG said in a commentary.

U.S. crude   was 28 cents lower at $53.76 per barrel in electronic trading on the New York Mercantile Exchange. The contract added 3.3% to $54.04 per barrel in New York. Brent crude  , used to price international oils, dropped 47 cents to $62.27 per barrel. It closed at $62.74 per barrel in London.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.7013%   eased to 109.44 yen from 109.65 yen late Monday.

/zigman2/quotes/210597971/delayed

Add to watchlist JP:NIK

NIKKEI 225 Index

JP : Nikkei

23,479.15

+78.45 +0.34%

Volume: 0.00

Feb. 20, 2020 3:15p

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KOSPI Composite Index

KR : Korea Exchange

2,195.50

-14.84 -0.67%

Volume: 709,563

Feb. 20, 2020 3:30p

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Hang Seng Index

HK : Hong Kong Exchange

27,609.16

-46.65 -0.17%

Volume: 1.58M

Feb. 20, 2020 4:08p

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Shanghai Composite Index

CN : China: Shanghai

3,030.15

+54.75 +1.84%

Volume: 34.57B

Feb. 20, 2020 3:00p

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Shenzhen Composite Index

CN : Shenhzen Stock Exchange

1,886.14

+39.74 +2.15%

Volume: 55.17B

Feb. 20, 2020 3:00p

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S&P/ASX 200 Benchmark Index

AU : S&P ASX

7,162.50

+17.90 +0.25%

Volume: 797,553

Feb. 20, 2020 5:23p

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FTSE Straits Times Index

SG : Singapore: SGX

3,198.68

-15.03 -0.47%

Volume: 0.00

Feb. 20, 2020 5:20p

/zigman2/quotes/207640090/delayed

Add to watchlist JP:8028

FamilyMart Co. Ltd.

JP : Japan: Tokyo

¥ 2,508.00

-8.00 -0.32%

Volume: 1.45M

Feb. 20, 2020 3:00p

P/E Ratio

36.36

Dividend Yield

1.59%

Market Cap

¥1273.37 billion

Rev. per Employee

¥61.29M

/zigman2/quotes/208507587/delayed

Add to watchlist JP:8750

Dai-ichi Life Holdings Inc.

JP : Japan: Tokyo

¥ 1,629.50

-1.50 -0.09%

Volume: 3.08M

Feb. 20, 2020 3:00p

P/E Ratio

9.25

Dividend Yield

3.80%

Market Cap

¥1846.64 billion

Rev. per Employee

¥103.65M

/zigman2/quotes/200663563/delayed

Add to watchlist JP:9983

Fast Retailing Co. Ltd.

JP : Japan: Tokyo

¥ 59,640.00

-350.00 -0.58%

Volume: 686,700

Feb. 20, 2020 3:00p

P/E Ratio

38.10

Dividend Yield

0.84%

Market Cap

¥6123.20 billion

Rev. per Employee

¥40.83M

/zigman2/quotes/205885756/delayed

Add to watchlist HK:1997

Wharf Real Estate Investment Co. Ltd.

HK : Hong Kong

HK$ 41.15

-0.35 -0.84%

Volume: 1.85M

Feb. 20, 2020 4:08p

P/E Ratio

8.43

Dividend Yield

5.22%

Market Cap

HK$126.00 billion

Rev. per Employee

HK$5.68M

/zigman2/quotes/206625692/delayed

Add to watchlist HK:0823

Link Real Estate Investment Trust

HK : Hong Kong

HK$ 77.90

-0.15 -0.19%

Volume: 6.33M

Feb. 20, 2020 4:08p

P/E Ratio

9.28

Dividend Yield

3.62%

Market Cap

HK$161.67 billion

Rev. per Employee

HK$11.26M

/zigman2/quotes/201441510/delayed

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AAC Technologies Holdings Inc.

HK : Hong Kong

HK$ 57.15

+0.35 +0.62%

Volume: 5.77M

Feb. 20, 2020 4:08p

P/E Ratio

21.80

Dividend Yield

2.50%

Market Cap

HK$68.64 billion

Rev. per Employee

HK$411,637

/zigman2/quotes/206687505/delayed

Add to watchlist HK:2382

Sunny Optical Technology Group Co. Ltd.

HK : Hong Kong

HK$ 131.00

+1.40 +1.08%

Volume: 5.63M

Feb. 20, 2020 4:08p

P/E Ratio

45.56

Dividend Yield

0.51%

Market Cap

HK$142.15 billion

Rev. per Employee

HK$1.08M

/zigman2/quotes/204605823/delayed

Add to watchlist HK:0700

Tencent Holdings Ltd.

HK : Hong Kong

HK$ 410.00

-1.40 -0.34%

Volume: 16.58M

Feb. 20, 2020 4:08p

P/E Ratio

39.96

Dividend Yield

0.24%

Market Cap

HK$3898.69 billion

Rev. per Employee

HK$8.27M

/zigman2/quotes/209800866/delayed

Add to watchlist KR:005930

Samsung Electronics Co. Ltd.

KR : S. Korea: KRX

₩ 60,000.00

-200.00 -0.33%

Volume: 14.59M

Feb. 20, 2020 3:30p

P/E Ratio

16.56

Dividend Yield

2.36%

Market Cap

₩408919.00 billion

Rev. per Employee

N/A

/zigman2/quotes/206420319/delayed

Add to watchlist KR:000660

SK Hynix Inc.

KR : S. Korea: KRX

₩ 104,000

+500.00 +0.48%

Volume: 3.09M

Feb. 20, 2020 3:30p

P/E Ratio

35.16

Dividend Yield

0.96%

Market Cap

₩70794.20 billion

Rev. per Employee

N/A

/zigman2/quotes/205482049/delayed

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Australia & New Zealand Banking Group Ltd.

AU : Australia: Sydney

$ 27.03

+0.27 +1.01%

Volume: 8.13M

Feb. 20, 2020 4:10p

P/E Ratio

13.44

Dividend Yield

8.08%

Market Cap

$75.90 billion

Rev. per Employee

$908,476

/zigman2/quotes/203084975/delayed

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Westpac Banking Corp.

AU : Australia: Sydney

$ 25.69

+0.07 +0.27%

Volume: 7.04M

Feb. 20, 2020 4:10p

P/E Ratio

13.57

Dividend Yield

6.77%

Market Cap

$92.36 billion

Rev. per Employee

$1.09M

/zigman2/quotes/210431826/delayed

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National Australia Bank Ltd.

AU : Australia: Sydney

$ 27.40

+0.09 +0.33%

Volume: 8.43M

Feb. 20, 2020 4:10p

P/E Ratio

16.72

Dividend Yield

6.06%

Market Cap

$78.53 billion

Rev. per Employee

$1.00M

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Japanese Yen

US : Tullett Prebon

112.1430

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Feb. 20, 2020 6:34a