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July 3, 2013, 4:19 a.m. EDT

Asia stocks drop after China data; Hong Kong hit

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Asian stocks fell Wednesday as concerns about growth in China’s services sector added to the selling pressure amid caution ahead of U.S. jobs data later in the week, dragging on Hong Kong and Australian equities in particular.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.06%  declined 2.5%, and the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.31% ended 0.6% lower.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.33%  tumbled 1.9%, returning most of the gains made in the previous session, when it jumped 2.6% after the country’s central bank left its policy interest rate unchanged.

/zigman2/quotes/210598127/delayed SHCOMP 3,039.67, +9.52, +0.31%
/zigman2/quotes/210598065/realtime DJIA 29,219.98, -128.05, -0.44%
Year-to-date percentage changes
Shanghai Composite Vs. Dow Jones Industrial Average

The performance came ahead of a U.S. holiday Thursday, leading into the key nonfarm payrolls data for June due on Friday.

“Financial markets remain edgy ahead of the U.S. jobs data due for release later in the week, with the result of nonfarm payrolls likely to shape the Federal Open Market Committee course towards the quantitative easing tapering,” said Tim Waterer, a senior trader at CMC Markets. “A sense of nervousness among investors is likely to keep levels of volatility high in the interim.”

Stocks on Wall Street ended lower Tuesday amid caution over U.S. employment trends, with economists polled by MarketWatch anticipating an increase of 155,000 jobs in June, lower than the addition of 175,000 payrolls in May.

An official measure of the Purchasing Managers’ Index (PMI) in China’s services sector eased to 53.9 in June, down from 54.3 in May. In a separate survey by HSBC, the services PMI ticked up to 51.3 from 51.2 in May. HSBC’s chief China economist Hongbin Qu, however, said growth in the sector was expected to slow in coming months as the effect of value-added-tax reforms filter through.

Meanwhile, Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.39%  finished 0.3% lower for its first decline in five trading days. Taiwan’s Taiex  gave up 1.3%, and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.49%  dropped 1.6%.


Reuters
Concerns over growth in China’s services sector add to economic worries.

Shares of footwear major Belle International Holdings Ltd.  skidded 4.2%, China Coal Energy Co. /zigman2/quotes/201486584/delayed HK:1898 0.00%   /zigman2/quotes/205321671/delayed CCOZY -1.24%  slumped 6.6% and China Overseas Land & Investment Ltd. /zigman2/quotes/205731176/delayed HK:688 -1.98% /zigman2/quotes/202573805/delayed CAOVY -2.42%  dropped 4% in Hong Kong, accelerating their losses after the Chinese services PMI data.

In Shanghai, property firm Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 -2.07% retreated 3.1%, and China Southern Airlines Co. /zigman2/quotes/210515916/delayed CN:600029 -1.56% /zigman2/quotes/206691352/composite ZNH -2.87% dropped 2.9%.

In Tokyo trading, utility Tokyo Electric Power Co. /zigman2/quotes/202771076/delayed JP:9501 -0.23% /zigman2/quotes/205839055/delayed TKECY +1.24%  plunged 10.3% a day after it soared 19%, with the Nikkei newspaper reporting its plans to restart a nuclear power plant looked “premature” and hinted of “haste.”

Shares of Suntory Beverage & Food Ltd. /zigman2/quotes/200757604/delayed JP:2587 -1.29% rose modestly as they began trading in Tokyo after raising nearly $4 billion from an initial public offering, Japan’s largest this year. The stock ended at ¥3,145 ($31.30), up from its IPO price of ¥3,100.

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Mitsubishi UFJ Financial Group Inc. /zigman2/quotes/207520099/delayed JP:8306 +0.62% gained 0.8% in choppy trading action, on plans to buy a majority stake in Thai lender Bank of Ayudhya PCL TH:BAY 0.00%  for about $5.6 billion.

Also posting gains, Nissan Motor Co. /zigman2/quotes/208298710/delayed JP:7201 -0.06% /zigman2/quotes/207656007/delayed NSANY -1.47% climbed 0.6%, and Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 -0.07% /zigman2/quotes/207173990/composite HMC +0.92% rose 0.4%, after reporting an increase in their U.S. sales for June.

The gains were aided as the U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.2328%  rose above the ¥100 level for the first time since early June. The greenback had moved in the mid-¥99 range during the previous Tokyo stock session.

Shares of internationally-exposed South Korean firms also suffered losses, with Samsung Electronics Co. /zigman2/quotes/209800866/delayed KR:005930 -1.33%   /zigman2/quotes/202367843/delayed SSNLF 0.00% dropping 2.6% and LG Electronics Inc. /zigman2/quotes/209966407/delayed KR:066570 -1.64%  sliding 3.8%.

Mining issues and banks pulled back in Sydney after Tuesday’s advances. Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -0.46%   /zigman2/quotes/202627887/composite RIO -0.28%  skidded 3%, and BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP -0.78%   /zigman2/quotes/208108397/composite BHP -1.54%  slumped 3.2%, while National Australia Bank Ltd. /zigman2/quotes/210431826/delayed AU:NAB +0.04%   /zigman2/quotes/208329321/delayed NABZY -0.55%  gave up 1.9%.

Data released earlier on Wednesday showed retail sales grew a slower-than-expected 0.1% in May. Trade data surprised positively, meanwhile, with the country recording a trade surplus of 670 million Australian dollars ($615 million) during the month, as exports grew 4% from a year earlier, while imports rose 2%.

Shares of a few regional energy producers rose as Nymex August crude-oil futures briefly climbed past the $102-a-barrel level during Asian trading hours.

PetroChina Co. /zigman2/quotes/206980083/delayed CN:601857 -0.19%   /zigman2/quotes/205108732/composite PTR -1.26%  gained 2.2% in Shanghai, Linc Energy Ltd.   rose 4.1% in Sydney and Inpex Corp. /zigman2/quotes/206689846/delayed JP:1605 -0.23%   /zigman2/quotes/206936121/delayed IPXHF +5.94% added 2.8% in Tokyo.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,315.17
-293.99 -1.06%
Volume: 1.41M
Feb. 21, 2020 3:18p
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/210598100/delayed
AU : S&P ASX
7,139.00
-23.50 -0.33%
Volume: 1.07M
Feb. 21, 2020 5:17p
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/210598069/delayed
KR : Korea Exchange
2,162.84
-32.66 -1.49%
Volume: 619,266
Feb. 21, 2020 3:33p
loading...
/zigman2/quotes/201486584/delayed
HK : Hong Kong
HK$ 2.72
0.00 0.00%
Volume: 6.09M
Feb. 21, 2020 3:18p
P/E Ratio
6.22
Dividend Yield
3.26%
Market Cap
HK$36.06 billion
Rev. per Employee
HK$2.78M
loading...
/zigman2/quotes/205321671/delayed
US : U.S.: OTC
$ 7.18
-0.09 -1.24%
Volume: 0.00
Feb. 13, 2020 9:41a
P/E Ratio
8.94
Dividend Yield
2.52%
Market Cap
$14.35 billion
Rev. per Employee
$354,816
loading...
/zigman2/quotes/205731176/delayed
HK : Hong Kong
HK$ 27.20
-0.55 -1.98%
Volume: 14.90M
Feb. 21, 2020 3:18p
P/E Ratio
6.39
Dividend Yield
3.49%
Market Cap
HK$304.04 billion
Rev. per Employee
HK$30.79M
loading...
/zigman2/quotes/202573805/delayed
US : U.S.: OTC
$ 17.67
-0.44 -2.42%
Volume: 3,980
Feb. 20, 2020 2:14p
P/E Ratio
6.51
Dividend Yield
2.89%
Market Cap
$39.06 billion
Rev. per Employee
$3.93M
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 13.70
-0.29 -2.07%
Volume: 26.80M
Feb. 21, 2020 3:00p
P/E Ratio
7.47
Dividend Yield
4.38%
Market Cap
¥63.16 billion
Rev. per Employee
¥7.89M
loading...
/zigman2/quotes/210515916/delayed
CN : China: Shanghai
¥ 6.30
-0.10 -1.56%
Volume: 78.63M
Feb. 21, 2020 3:00p
P/E Ratio
26.77
Dividend Yield
0.79%
Market Cap
¥78.51 billion
Rev. per Employee
¥1.46M
loading...
/zigman2/quotes/206691352/composite
US : U.S.: NYSE
$ 29.81
-0.88 -2.87%
Volume: 42,986
Feb. 20, 2020 6:30p
P/E Ratio
174.02
Dividend Yield
1.03%
Market Cap
$21.86 billion
Rev. per Employee
$222,248
loading...
/zigman2/quotes/202771076/delayed
JP : Japan: Tokyo
¥ 435.00
-1.00 -0.23%
Volume: 4.63M
Feb. 21, 2020 3:00p
P/E Ratio
3.79
Dividend Yield
N/A
Market Cap
¥698.57 billion
Rev. per Employee
¥149.25M
loading...
/zigman2/quotes/205839055/delayed
US : U.S.: OTC
$ 4.08
+0.05 +1.24%
Volume: 35.00
Feb. 18, 2020 5:20p
P/E Ratio
3.89
Dividend Yield
N/A
Market Cap
$6.23 billion
Rev. per Employee
$1.35M
loading...
/zigman2/quotes/200757604/delayed
JP : Japan: Tokyo
¥ 4,595.00
-60.00 -1.29%
Volume: 454,700
Feb. 21, 2020 3:00p
P/E Ratio
20.61
Dividend Yield
1.70%
Market Cap
¥1438.39 billion
Rev. per Employee
¥55.74M
loading...
/zigman2/quotes/207520099/delayed
JP : Japan: Tokyo
¥ 566.30
+3.50 +0.62%
Volume: 39.99M
Feb. 21, 2020 3:00p
P/E Ratio
12.55
Dividend Yield
4.41%
Market Cap
¥7178.43 billion
Rev. per Employee
¥50.52M
loading...
TH : Thailand: Bangkok
฿ 28.25
0.00 0.00%
Volume: 77,300
Feb. 20, 2020 12:00a
P/E Ratio
6.41
Dividend Yield
3.01%
Market Cap
฿207.80 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208298710/delayed
JP : Japan: Tokyo
¥ 504.10
-0.30 -0.06%
Volume: 15.83M
Feb. 21, 2020 3:00p
P/E Ratio
47.28
Dividend Yield
1.98%
Market Cap
¥1973.79 billion
Rev. per Employee
¥85.36M
loading...
/zigman2/quotes/207656007/delayed
US : U.S.: OTC
$ 9.06
-0.14 -1.47%
Volume: 229,599
Feb. 20, 2020 3:57p
P/E Ratio
45.46
Dividend Yield
6.14%
Market Cap
$17.61 billion
Rev. per Employee
$773,563
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,039.00
-2.00 -0.07%
Volume: 5.39M
Feb. 21, 2020 3:00p
P/E Ratio
11.31
Dividend Yield
3.69%
Market Cap
¥5312.36 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 27.33
+0.25 +0.92%
Volume: 493,918
Feb. 20, 2020 6:30p
P/E Ratio
11.04
Dividend Yield
3.18%
Market Cap
$47.74 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
111.8440
-0.2610 -0.2328%
Volume: 0.0000
Feb. 21, 2020 2:33a
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
59,200.00
-800.00 -1.33%
Volume: 13.28M
Feb. 21, 2020 3:30p
P/E Ratio
16.34
Dividend Yield
2.39%
Market Cap
₩407560.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202367843/delayed
US : U.S.: OTC
$ 44.20
0.00 0.00%
Volume: 500.00
Feb. 19, 2020 5:20p
P/E Ratio
14.05
Dividend Yield
N/A
Market Cap
$300.24 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
66,100.00
-1,100 -1.64%
Volume: 530,896
Feb. 21, 2020 3:30p
P/E Ratio
65.03
Dividend Yield
1.13%
Market Cap
₩12100.40 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 97.69
-0.45 -0.46%
Volume: 914,264
Feb. 21, 2020 4:10p
P/E Ratio
8.90
Dividend Yield
9.18%
Market Cap
$159.35 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 54.19
-0.15 -0.28%
Volume: 1.24M
Feb. 20, 2020 6:30p
P/E Ratio
6.88
Dividend Yield
6.11%
Market Cap
$68.26 billion
Rev. per Employee
$852,406
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.22
-0.30 -0.78%
Volume: 4.79M
Feb. 21, 2020 4:10p
P/E Ratio
16.09
Dividend Yield
5.64%
Market Cap
$194.79 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 50.64
-0.79 -1.54%
Volume: 1.69M
Feb. 20, 2020 6:30p
P/E Ratio
14.91
Dividend Yield
5.25%
Market Cap
$74.56 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210431826/delayed
AU : Australia: Sydney
$ 27.41
+0.01 +0.04%
Volume: 5.26M
Feb. 21, 2020 4:10p
P/E Ratio
16.73
Dividend Yield
6.06%
Market Cap
$78.79 billion
Rev. per Employee
$1.00M
loading...
/zigman2/quotes/208329321/delayed
US : U.S.: OTC
$ 9.06
-0.05 -0.55%
Volume: 60,871
Feb. 20, 2020 3:58p
P/E Ratio
15.68
Dividend Yield
6.15%
Market Cap
$52.22 billion
Rev. per Employee
$761,598
loading...
/zigman2/quotes/206980083/delayed
CN : China: Shanghai
¥ 5.37
-0.01 -0.19%
Volume: 113.82M
Feb. 21, 2020 3:00p
P/E Ratio
23.54
Dividend Yield
3.12%
Market Cap
¥984.65 billion
Rev. per Employee
¥4.49M
loading...
/zigman2/quotes/205108732/composite
US : U.S.: NYSE
$ 43.81
-0.56 -1.26%
Volume: 94,702
Feb. 20, 2020 6:30p
P/E Ratio
10.13
Dividend Yield
3.86%
Market Cap
$9.24 billion
Rev. per Employee
$678,384
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 1,069.50
-2.50 -0.23%
Volume: 4.30M
Feb. 21, 2020 3:00p
P/E Ratio
9.94
Dividend Yield
3.37%
Market Cap
¥1565.33 billion
Rev. per Employee
¥291.81M
loading...
/zigman2/quotes/206936121/delayed
US : U.S.: OTC
$ 9.10
+0.51 +5.94%
Volume: 1,111
Feb. 20, 2020 5:20p
P/E Ratio
9.21
Dividend Yield
N/A
Market Cap
$13.29 billion
Rev. per Employee
$2.64M
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Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Follow him on Twitter @MktwKumar.

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