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Feb. 17, 2015, 3:39 a.m. EST

Chinese stocks keep up their winning streak ahead of holiday

Japanese and Australian stocks retreat

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By Laura He, MarketWatch


Reuters Enlarge Image
Chinese stocks extend recent advances on Tuesday, while other markets trade mixed.

HONG KONG (MarketWatch) — Hong Kong and Shanghai stocks extended recent gains Tuesday, the last full trading day before the Lunar New Year holiday, as they shrugged off downbeat Chinese home-price data.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.09%  edged up 0.2%, after rising for the previous three sessions, while the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.31%  advanced 0.8% to notch a seven-session winning streak.

Official data showed Tuesday that 69 of the top 70 Chinese cities recorded falls in the price of new homes over January. On average, those prices were down 5.1% year-on-year, accelerating from a 4.3% drop in December.

Most Chinese property stocks declined in Hong Kong. Poly Property Group Co. /zigman2/quotes/209766147/delayed HK:119 -1.62%  tumbled 3%, Hang Seng constituent China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 -1.26% lost 1.2%, and Country Garden Holdings Co. Ltd. /zigman2/quotes/201681083/delayed HK:2007 -1.31%   pulled back 0.3%.

But major mainland Chinese banks posted gains that supported the market, with China Citic Bank Corp. /zigman2/quotes/205809997/delayed HK:998 -0.71% up 2.3%, China Minsheng Banking Corp. /zigman2/quotes/208095167/delayed HK:1988 -1.09%  climbing 2.1%, Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 -0.58%  higher by 0.9%, and Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 -0.93%  tacking on 0.2%.

Among the heaviest-weighted Hang Seng components, HSBC Holdings PLC /zigman2/quotes/202687335/delayed HK:5 -0.26%   and China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 -0.97%  both added 0.5%, and Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 -2.20%   rose 0.2%. Hong Kong telecom operator Hutchison Telecommunications Hong Kong Holdings Ltd. /zigman2/quotes/202249995/delayed HK:215 -1.29%   rose 2.6%, as the market accepted the company’s 9% year-on-year profit drop for last year. Its corporate parent Hutchison Whampoa Ltd.   traded 0.5% higher.

Hong Kong markets were due to open for a half day on Wednesday, while those in Shanghai were due to close for the rest of the week.

Elsewhere, other major Asian markets mostly declined, after a breakdown in Greek debt talks dented investor sentiment.

Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -0.39%  inched down 0.1%, retreating from a nearly eight-year high from the previous session, while the Topix /zigman2/quotes/210598092/delayed JP:180460 -0.03%  nosed 0.2% higher. The yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0206%   rose slightly against the greenback to ¥118.53, from ¥118.59 at the Tokyo stock exchange close on Monday.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.33%  also dropped 0.5%, while South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 -1.49%  drifted higher by 0.2%.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,308.81
-300.35 -1.09%
Volume: 1.77M
Feb. 21, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,039.67
+9.52 +0.31%
Volume: 36.46B
Feb. 21, 2020 3:01p
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/zigman2/quotes/209766147/delayed
HK : Hong Kong
HK$ 3.04
-0.05 -1.62%
Volume: 6.42M
Feb. 21, 2020 4:08p
P/E Ratio
2.08
Dividend Yield
4.05%
Market Cap
HK$11.13 billion
Rev. per Employee
HK$1.82M
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/zigman2/quotes/202417326/delayed
HK : Hong Kong
HK$ 35.15
-0.45 -1.26%
Volume: 11.74M
Feb. 21, 2020 4:08p
P/E Ratio
7.55
Dividend Yield
3.57%
Market Cap
HK$250.65 billion
Rev. per Employee
HK$3.68M
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/zigman2/quotes/201681083/delayed
HK : Hong Kong
HK$ 10.58
-0.14 -1.31%
Volume: 18.22M
Feb. 21, 2020 4:08p
P/E Ratio
5.39
Dividend Yield
5.65%
Market Cap
HK$228.12 billion
Rev. per Employee
HK$3.60M
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/zigman2/quotes/205809997/delayed
HK : Hong Kong
HK$ 4.19
-0.03 -0.71%
Volume: 29.40M
Feb. 21, 2020 4:08p
P/E Ratio
4.22
Dividend Yield
6.25%
Market Cap
HK$205.04 billion
Rev. per Employee
HK$6.26M
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/zigman2/quotes/208095167/delayed
HK : Hong Kong
HK$ 5.46
-0.06 -1.09%
Volume: 19.29M
Feb. 21, 2020 4:08p
P/E Ratio
3.94
Dividend Yield
7.21%
Market Cap
HK$239.05 billion
Rev. per Employee
HK$6.25M
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/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 5.17
-0.03 -0.58%
Volume: 21.14M
Feb. 21, 2020 4:08p
P/E Ratio
4.40
Dividend Yield
6.59%
Market Cap
HK$383.94 billion
Rev. per Employee
HK$5.47M
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/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 3.19
-0.03 -0.93%
Volume: 260.67M
Feb. 21, 2020 4:08p
P/E Ratio
4.48
Dividend Yield
6.61%
Market Cap
HK$939.03 billion
Rev. per Employee
HK$3.13M
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/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 56.65
-0.15 -0.26%
Volume: 41.48M
Feb. 21, 2020 4:08p
P/E Ratio
23.96
Dividend Yield
7.01%
Market Cap
HK$1150.77 billion
Rev. per Employee
HK$2.88M
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/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 66.10
-0.65 -0.97%
Volume: 10.70M
Feb. 21, 2020 4:08p
P/E Ratio
10.88
Dividend Yield
4.41%
Market Cap
HK$1353.43 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 401.00
-9.00 -2.20%
Volume: 17.45M
Feb. 21, 2020 4:08p
P/E Ratio
39.09
Dividend Yield
0.25%
Market Cap
HK$3800.13 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/202249995/delayed
HK : Hong Kong
HK$ 1.53
-0.02 -1.29%
Volume: 1.70M
Feb. 21, 2020 4:08p
P/E Ratio
18.70
Dividend Yield
4.01%
Market Cap
HK$7.37 billion
Rev. per Employee
HK$6.71M
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/zigman2/quotes/210597971/delayed
JP : Nikkei
23,386.74
-92.41 -0.39%
Volume: 0.00
Feb. 21, 2020 3:15p
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/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,674.00
-0.48 -0.03%
Volume: 0.00
Feb. 21, 2020 3:00p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
111.5800
+0.0230 +0.0206%
Volume: 0.0000
Feb. 21, 2020 4:59p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,139.00
-23.50 -0.33%
Volume: 1.07M
Feb. 21, 2020 5:17p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,162.84
-32.66 -1.49%
Volume: 635,474
Feb. 21, 2020 3:33p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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