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Oct. 13, 2014, 5:40 a.m. EDT

Hong Kong stocks close higher after strong China data

Japan closed for holiday, while Sydney and Shanghai fall

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By Laura He, MarketWatch


Shutterstock/Zhu Difeng

HONG KONG (MarketWatch) — Hong Kong stocks erased earlier losses and closed higher on Monday, as China’s trade data for September beat expectations.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.45%  opened lower on a negative U.S. lead from the end of last week, but ended the session higher by 0.2%.

The gain following data showing China’s exports and imports for September rose 15.3% and 7% respectively, both beating market forecasts.

Index heavyweight China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 -0.20%  popped up 1.4%, as reports said the telecoms giant is planning to invest about $166 million in a new media venture to operate its digital entertainment business.

Major insurer AIA Group Ltd. /zigman2/quotes/203565558/delayed HK:1299 -1.15%  advanced 1.7%, with investors eyeing its quarterly results due out later this week.

However, Chinese real estate stocks were weak, with Agile Property Holdings Ltd. /zigman2/quotes/210448079/delayed HK:3383 -0.62%  diving 17.2%.

Agile resumed share trading on Monday following a week-long trading halt, after the company said its Chairman Chen Zhuolin was placed under home surveillance by prosecutors. Mainland media reports said Chen was accused of suspected bribery to government officers for a massive property project in China’s southwestern Yunnan province, with the nation’s top economic planner and the Ministry of Land and Natural Resources having criticized the firm earlier for building golf courses in the project illegally.

Other property stocks also suffered substantial losses, as Guangzhou R&F Properties Co. Ltd. /zigman2/quotes/200033596/delayed HK:2777 -0.85% sank 4.4%, Shimao Property Holdings Ltd. /zigman2/quotes/208719072/delayed HK:813 -0.57% tumbled 4%, and Sino-Ocean Land Holdings Ltd. /zigman2/quotes/201858088/delayed HK:3377 -0.57%  slid 3%.

Several brokerage firms fell after various media reports said the long-awaited Hong Kong-Shanghai “stock connect” program, which would allow direct share trading between the two markets, may be postponed to the end of this month or even further, possibly due to Beijing’s hesitation in granting approval amid Hong Kong’s political unrest.

Haitong International Securities Group Co., formerly Taifook Securities, declined 2.8%, China Everbright Ltd. /zigman2/quotes/209679060/delayed HK:165 +0.11% skidded 2.4%, and Citic Securities Co. /zigman2/quotes/208139708/delayed HK:6030 +0.11% lost 0.9%.

Meanwhile, other Asian major markets closed lower, as Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.68%  fell 0.4%, Sydney’s S&P/ASX /zigman2/quotes/210598100/delayed AU:XJO +0.11%  shredded 0.6%, and Seoul’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.13%  dropped 0.7%.

Japanese stock markets were closed for a public holiday. The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0081% fell to ¥107.465 from ¥107.645 in the previous session.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,321.98
-401.86 -1.45%
Volume: 1.18M
July 23, 2021 4:08p
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/zigman2/quotes/200868736/delayed
HK : Hong Kong
$ 50.10
-0.10 -0.20%
Volume: 38.57M
July 23, 2021 4:08p
P/E Ratio
8.47
Dividend Yield
6.57%
Market Cap
$1025.82 billion
Rev. per Employee
$1.90M
loading...
/zigman2/quotes/203565558/delayed
HK : Hong Kong
$ 94.90
-1.10 -1.15%
Volume: 8.91M
July 23, 2021 4:08p
P/E Ratio
25.58
Dividend Yield
1.43%
Market Cap
$1145.24 billion
Rev. per Employee
$14.37M
loading...
/zigman2/quotes/210448079/delayed
HK : Hong Kong
$ 9.64
-0.06 -0.62%
Volume: 1.43M
July 23, 2021 4:08p
P/E Ratio
3.52
Dividend Yield
11.41%
Market Cap
$37.76 billion
Rev. per Employee
$1.45M
loading...
/zigman2/quotes/200033596/delayed
HK : Hong Kong
$ 8.13
-0.07 -0.85%
Volume: 1.94M
July 23, 2021 4:08p
P/E Ratio
2.85
Dividend Yield
14.45%
Market Cap
$30.51 billion
Rev. per Employee
$2.50M
loading...
/zigman2/quotes/208719072/delayed
HK : Hong Kong
$ 17.40
-0.10 -0.57%
Volume: 10.48M
July 23, 2021 4:08p
P/E Ratio
4.28
Dividend Yield
8.62%
Market Cap
$61.49 billion
Rev. per Employee
$6.26M
loading...
/zigman2/quotes/201858088/delayed
HK : Hong Kong
$ 1.75
-0.01 -0.57%
Volume: 6.63M
July 23, 2021 4:08p
P/E Ratio
4.11
Dividend Yield
8.69%
Market Cap
$13.23 billion
Rev. per Employee
$4.82M
loading...
/zigman2/quotes/209679060/delayed
HK : Hong Kong
$ 9.00
+0.01 +0.11%
Volume: 2.94M
July 23, 2021 4:08p
P/E Ratio
6.70
Dividend Yield
5.44%
Market Cap
$15.17 billion
Rev. per Employee
$13.33M
loading...
/zigman2/quotes/208139708/delayed
HK : Hong Kong
$ 18.08
+0.02 +0.11%
Volume: 7.40M
July 23, 2021 4:08p
P/E Ratio
13.92
Dividend Yield
2.66%
Market Cap
$350.84 billion
Rev. per Employee
$6.04M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,550.40
-24.34 -0.68%
Volume: 44.64B
July 23, 2021 3:01p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,394.40
+8.00 +0.11%
Volume: 493,575
July 23, 2021 5:05p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,254.42
+4.21 +0.13%
Volume: 805,048
July 23, 2021 3:30p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
110.5500
+0.0090 +0.0081%
Volume: 0.0000
July 23, 2021 4:59p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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