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Aug. 13, 2014, 6:03 a.m. EDT

Hong Kong stocks close at highest since late 2010

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By Laura He, MarketWatch

HONG KONG (MarketWatch) — Hong Kong stocks climbed on Wednesday to their highest settlement in more than three years, extending a three-day winning streak.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.19%  ended up 0.8% at 24,890.34, a closing level it hasn’t seen since November 2010, shrugging off a batch of Chinese economic data that showed a slowing in growth.

China’s industrial production rose by 9% in July, easing from a 9.2% increase in June, while a 12.2% growth in July retail sales also missed expectations from a Bloomberg survey, according to data from the National Bureau of Statistics on Wednesday.


Shutterstock/leungchopan

Chinese banks advanced across the board, with China Merchants Bank Co., Ltd. /zigman2/quotes/209899244/delayed HK:3968 -3.00%   rising 1.8%, Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 -1.89%  adding 1.7%, and China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 -2.05%  improving by 0.9%.

However, Cathay Pacific Airways Ltd. /zigman2/quotes/203532437/delayed HK:293 -2.17%  , one of Asia’s largest airlines, bucked the market trend with a 1.7% decline, after its interim earnings fell short of market expectations.

In Japan, the Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -0.61%  gained for a third straight session, closing up 0.4%. The Topix index /zigman2/quotes/210598092/delayed JP:180460 -0.83%  also finished 0.4% higher. The yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1232%  , meanwhile, fell to 102.452, from 102.294 against the dollar on Tuesday.

In other Asian markets, Seoul’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.18%  settled 1% higher, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.57%  ticked up 0.1%, and Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -2.33%   pulled back 0.3%.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,085.79
-517.69 -2.19%
Volume: 2.88M
April 1, 2020 4:08p
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/zigman2/quotes/209899244/delayed
HK : Hong Kong
HK$ 33.95
-1.05 -3.00%
Volume: 14.18M
April 1, 2020 4:08p
P/E Ratio
8.11
Dividend Yield
3.86%
Market Cap
HK$882.69 billion
Rev. per Employee
HK$3.67M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 4.66
-0.09 -1.89%
Volume: 44.65M
April 1, 2020 4:08p
P/E Ratio
3.96
Dividend Yield
7.37%
Market Cap
HK$352.75 billion
Rev. per Employee
HK$5.47M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.21
-0.13 -2.05%
Volume: 353.66M
April 1, 2020 4:08p
P/E Ratio
5.19
Dividend Yield
5.62%
Market Cap
HK$1585.07 billion
Rev. per Employee
HK$3.31M
loading...
/zigman2/quotes/203532437/delayed
HK : Hong Kong
HK$ 8.12
-0.18 -2.17%
Volume: 1.53M
April 1, 2020 4:08p
P/E Ratio
18.89
Dividend Yield
2.22%
Market Cap
HK$32.65 billion
Rev. per Employee
HK$4.27M
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
17,955.23
-110.18 -0.61%
Volume: 0.00
April 2, 2020 9:06a
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,339.84
-11.24 -0.83%
Volume: 0.00
April 2, 2020 9:06a
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.2970
+0.1320 +0.1232%
Volume: 0.0000
April 1, 2020 8:26p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,688.43
+2.97 +0.18%
Volume: 72,669
April 2, 2020 9:06a
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,734.52
-15.77 -0.57%
Volume: 21.73B
April 1, 2020 3:01p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,136.10
-122.50 -2.33%
Volume: 204,381
April 2, 2020 11:06a
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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