Bulletin
Investor Alert

Asia Markets Archives | Email alerts

Oct. 24, 2013, 6:17 a.m. EDT

Asian shares generally boosted from upbeat China data

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    S&P/ASX 200 Benchmark Index (XJO)
  • X
    KOSPI Composite Index (180721)
  • X
    NIKKEI 225 Index (NIK)

or Cancel Already have a watchlist? Log In

By Daniel Inman

Asian stocks moved higher Thursday, as a strong reading on the state of Chinese factories lifted most markets outside of China.

The initial October reading for China’s manufacturing activity came out at 50.9, compared to a final reading of 50.2 in September. The score was a seven-month high, above the 50 mark that separates expansion and contraction in factory activity.


Reuters Enlarge Image
A brokerage in Hefei, China.

The preliminary reading was among the first economic data on the region’s largest economy in the third quarter, coming less than a week after figures showed that Chinese growth picked up from a dip in the second quarter.

HSBC’s flash PMI measure of manufacturing has led to some sharp market moves this year, as it pointed to a slowdown in factory activity earlier in the summer before showing signs of improvement in recent months.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.33%  added 0.3% to 5,372.90, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.49%   ended up 0.5% at 2,046.69 and Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.39% rose 0.4% to 14,486.41.

Thursday’s upbeat reading, however, did little to offset fears over the Chinese economy, as China’s interbank lending rate moved higher for a second day, reviving fears of a liquidity crunch as happened in June. In addition, data showing a further rise in house prices earlier in the week increased concerns that Beijing could step in to cool down the market.

Hong Kong’s Hang Seng index /zigman2/quotes/210598030/delayed HK:HSI -1.09%   dropped 0.7% to 22,835.82, and the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.31% lost 0.9% to 2,164.32.

Chinese banks recorded substantial losses in Hong Kong, with China Construction Bank /zigman2/quotes/208974133/delayed HK:939 -1.37%   /zigman2/quotes/209484779/delayed CICHF -3.88%  down 1.9%, and Industrial & Commercial Bank of China /zigman2/quotes/201401473/delayed HK:1398 -0.54%   /zigman2/quotes/204265987/delayed IDCBF -2.42%  down 1.3%

In currency markets, the Australian dollar /zigman2/quotes/210560947/realtime/sampled AUDUSD +0.0151%   climbed as high as 96.71 cents after the Chinese data before easing back to 96.26 cents, little changed from 96.21 U.S. cents late Wednesday in New York.

The yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0197%   was steady late at ¥97.34 to the dollar.

Click to Play

Starbucks in China’s crosshairs

China’s state media is criticizing Starbucks for its prices in China. Photo: Getty Images

Japanese companies that produce industrial machinery were pulled lower after Caterpillar shares plunged 6.1% overnight following a cut in its full-year earnings forecast. Hitachi Construction Machinery /zigman2/quotes/205375504/delayed JP:6305 +0.03%   /zigman2/quotes/202936726/delayed HTCMF +16.87% lost 1.4% and Komatsu /zigman2/quotes/204002437/delayed JP:6301 -0.74%   /zigman2/quotes/206435044/delayed KMTUF -1.64% dropped 2.1%.

Also in Japan, Hitachi /zigman2/quotes/203839937/delayed JP:6501 -0.26%   /zigman2/quotes/203416411/delayed HTHIF +2.28%  jumped 8.4% after the company more than doubled its net profit outlook for the fiscal half-year ended Sept. 30, due to strength in areas such as electric-power systems.

/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,139.00
-23.50 -0.33%
Volume: 1.07M
Feb. 21, 2020 5:17p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,162.84
-32.66 -1.49%
Volume: 635,474
Feb. 21, 2020 3:33p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
23,386.74
-92.41 -0.39%
Volume: 0.00
Feb. 21, 2020 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,308.81
-300.35 -1.09%
Volume: 1.77M
Feb. 21, 2020 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,039.67
+9.52 +0.31%
Volume: 36.46B
Feb. 21, 2020 3:01p
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.46
-0.09 -1.37%
Volume: 346.64M
Feb. 21, 2020 4:08p
P/E Ratio
5.42
Dividend Yield
5.40%
Market Cap
HK$1637.57 billion
Rev. per Employee
HK$3.31M
loading...
/zigman2/quotes/209484779/delayed
US : U.S.: OTC
$ 0.81
-0.03 -3.88%
Volume: 121,419
Feb. 21, 2020 2:56p
P/E Ratio
5.20
Dividend Yield
N/A
Market Cap
$209.38 billion
Rev. per Employee
$422,749
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 5.52
-0.03 -0.54%
Volume: 197.30M
Feb. 21, 2020 4:08p
P/E Ratio
5.57
Dividend Yield
5.16%
Market Cap
HK$1978.05 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/204265987/delayed
US : U.S.: OTC
$ 0.69
-0.02 -2.42%
Volume: 26,000
Feb. 21, 2020 10:33a
P/E Ratio
5.49
Dividend Yield
N/A
Market Cap
$253.58 billion
Rev. per Employee
$387,287
loading...
/zigman2/quotes/210560947/realtime/sampled
US : Tullett Prebon
0.6628
+0.0001 +0.0151%
Volume: 0.0000
Feb. 21, 2020 4:59p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
111.5800
+0.0220 +0.0197%
Volume: 0.0000
Feb. 21, 2020 4:59p
loading...
/zigman2/quotes/205375504/delayed
JP : Japan: Tokyo
¥ 2,953.00
+1.00 +0.03%
Volume: 676,100
Feb. 21, 2020 3:00p
P/E Ratio
12.00
Dividend Yield
2.91%
Market Cap
¥627.75 billion
Rev. per Employee
¥42.57M
loading...
/zigman2/quotes/202936726/delayed
US : U.S.: OTC
$ 28.40
+4.10 +16.87%
Volume: 0.00
Feb. 4, 2020 5:19p
P/E Ratio
12.60
Dividend Yield
N/A
Market Cap
$6.04 billion
Rev. per Employee
$385,710
loading...
/zigman2/quotes/204002437/delayed
JP : Japan: Tokyo
¥ 2,283.00
-17.00 -0.74%
Volume: 3.69M
Feb. 21, 2020 3:00p
P/E Ratio
10.39
Dividend Yield
4.82%
Market Cap
¥2172.10 billion
Rev. per Employee
¥45.51M
loading...
/zigman2/quotes/206435044/delayed
US : U.S.: OTC
$ 21.61
-0.36 -1.64%
Volume: 520.00
Feb. 21, 2020 5:20p
P/E Ratio
10.74
Dividend Yield
N/A
Market Cap
$20.41 billion
Rev. per Employee
$412,180
loading...
/zigman2/quotes/203839937/delayed
JP : Japan: Tokyo
¥ 4,178.00
-11.00 -0.26%
Volume: 3.42M
Feb. 21, 2020 3:00p
P/E Ratio
20.72
Dividend Yield
2.15%
Market Cap
¥4047.57 billion
Rev. per Employee
¥30.84M
loading...
/zigman2/quotes/203416411/delayed
US : U.S.: OTC
$ 38.87
+0.87 +2.28%
Volume: 0.00
Feb. 11, 2020 5:20p
P/E Ratio
21.20
Dividend Yield
N/A
Market Cap
$36.12 billion
Rev. per Employee
$279,568
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.