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April 13, 2015, 5:25 a.m. EDT

Hong Kong stocks shake off Chinese data to end above 28,000

Shanghai stocks continue their rally, too

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By Laura He, MarketWatch


Shutterstock/leungchopan
China stocks rally, while other Asian markets are mixed.

HONG KONG (MarketWatch) -- Hong Kong and Shanghai stocks continued to rally on Monday, shrugging off much weaker-than-expected Chinese export data.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +2.20%  pushed up 2.7% to 28,016.34, extending an eight-day winning streak, after a 7.9% jump last week. The index on Monday settled above 28,000 for the first time since December 2007. The mainland-China-tracking Hang Seng China Enterprises /zigman2/quotes/210598031/delayed CN:160462 +2.16%  crept higher by 4.3%.

On the mainland itself, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +1.59%   advanced by 2.2% to 4,121.71, its best close in more than seven years.

The gains came despite sharp falls in China’s imports and exports, announced earlier in the day. The nation’s exports fell 15% in March from a year earlier, widely missing projections of a 10% rise, official data showed. Imports fell 12.7% year-on-year in the same month, compared with a 12% estimated drop.

Hong Kong Exchanges & Clearing Ltd. /zigman2/quotes/200234512/delayed HK:388 +1.93% , the city’s sole bourse operator, soared 19.4%, after reports said China would increase daily quotas under the Hong Kong-Shanghai Stock Connect program for direct share-trading between the two markets. Currently, mainland investors can only buy 10.5 billion yuan ($1.7 billion) of Hong Kong stocks a day via the Stock Connect, while Hong Kong investors have a daily quota of 13 billion yuan.

Mainland bank China Merchants Bank /zigman2/quotes/209899244/delayed HK:3968 +6.51%  spiked 24.8%, after it announced a massive employee stock-incentive plan over the weekend, raising up to 6 billion yuan ($960 million) through a private placement.

Meantime, shares of brokerage firms surged after China Securities Depository and Clearing Corp. said mainland investors would be allowed to open up to 20 stock-trading accounts, effective on Monday.

Haitong International Securities Group Ltd.   leapt 22.8%, First Shanghai Investments Ltd. /zigman2/quotes/200726880/delayed HK:227 +1.35%  soared 17.7%, and Guotai Junan International Holdings Ltd. /zigman2/quotes/203308570/delayed HK:1788 +1.45%  cracked higher by 10.2%.

However, Hong Kong retailers retreated broadly after China announced a new internal visa policy Monday that will cut visits to Hong Kong by residents from the neighboring city of Shenzhen. Cosmetics chain store Bonjour Holdings Ltd. /zigman2/quotes/204727288/delayed HK:653 +3.05%  sank 7.1%, and rival Sa Sa International Holdings Ltd. /zigman2/quotes/207386015/delayed HK:178 +0.54%  slid 6.2%.

Other Asian markets were mixed, as Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.51%  nudged lower by less than 0.1%. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 +0.51%  edged down 0.2%, while the yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1818%   softened, with the greenback buying ¥120.74 compared with ¥120.30 in the previous session. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.82% inched 0.1% lower. However, South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +1.09%  added 0.5%.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,736.11
+640.25 +2.20%
Volume: 2.05M
March 3, 2021 2:21p
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/zigman2/quotes/210598031/delayed
CN : Hong Kong Exchange
11,606.86
+245.51 +2.16%
Volume: 0.00
March 3, 2021 2:21p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,564.44
+55.84 +1.59%
Volume: 29.24B
March 3, 2021 2:21p
loading...
/zigman2/quotes/200234512/delayed
HK : Hong Kong
HK$ 497.00
+9.40 +1.93%
Volume: 3.43M
March 3, 2021 2:21p
P/E Ratio
54.68
Dividend Yield
1.64%
Market Cap
HK$619.76 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209899244/delayed
HK : Hong Kong
HK$ 62.15
+3.80 +6.51%
Volume: 18.93M
March 3, 2021 2:21p
P/E Ratio
15.31
Dividend Yield
2.11%
Market Cap
HK$1521.64 billion
Rev. per Employee
HK$5.29M
loading...
/zigman2/quotes/200726880/delayed
HK : Hong Kong
HK$ 0.38
+0.0050 +1.35%
Volume: 952,000
March 3, 2021 1:50p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
HK$532.11 million
Rev. per Employee
HK$799,266
loading...
/zigman2/quotes/203308570/delayed
HK : Hong Kong
HK$ 1.40
+0.02 +1.45%
Volume: 2.99M
March 3, 2021 2:20p
P/E Ratio
13.88
Dividend Yield
3.86%
Market Cap
HK$13.32 billion
Rev. per Employee
HK$7.34M
loading...
/zigman2/quotes/204727288/delayed
HK : Hong Kong
HK$ 0.20
+0.0060 +3.05%
Volume: 21.37M
March 3, 2021 2:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
HK$655.21 million
Rev. per Employee
HK$2.14M
loading...
/zigman2/quotes/207386015/delayed
HK : Hong Kong
HK$ 1.87
+0.01 +0.54%
Volume: 9.11M
March 3, 2021 2:19p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$5.62 billion
Rev. per Employee
HK$1.55M
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
29,559.10
+150.93 +0.51%
Volume: 0.00
March 3, 2021 3:15p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,904.54
+9.69 +0.51%
Volume: 0.00
March 3, 2021 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
106.8800
+0.1940 +0.1818%
Volume: 0.0000
March 3, 2021 1:36a
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,818.00
+55.70 +0.82%
Volume: 591,216
March 3, 2021 5:10p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,077.13
+33.26 +1.09%
Volume: 2.17M
March 3, 2021 3:16p
loading...

Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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