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April 15, 2015, 5:38 a.m. EDT

Hong Kong stock gains limited by weak China data

Shanghai shares fall, halting three-day winning streak

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By Laura He, MarketWatch


Shutterstock/Leungchopan
Hong Kong stocks edge higher on Wednesday, while most other Asian markets lose ground.

HONG KONG (MarketWatch) — Hong Kong stocks eked out gains on Wednesday, returning to the advance after snapping an eight-day win streak on Tuesday. But the gains were capped after data showed China’s economic growth declined to a six-year low in the first quarter.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.77%  recovered 0.2% to 27,618.82, after retreating on Tuesday from a seven-year high of 28,016.34. The mainland-China-tracking Hang Seng China Enterprises /zigman2/quotes/210598031/delayed CN:160462 +1.17%  rose 1.5%.

Official data released Wednesday showed China’s gross domestic product grew 7% in the first quarter — the slowest pace since 2009. Still, the figure matched forecasts in a Reuters survey and exceeded an estimated 6.9% increase in a Wall Street Journal poll. Meanwhile, industrial output and retail sales both recorded weaker-than-expected growth in March.

On the mainland itself, Shanghai markets halted a three-day run, with the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.08%  pulling back 1.2%.

Mainland Chinese banks posted broad-based gains, with Industrial & Commercial Bank of China Ltd.  /zigman2/quotes/201401473/delayed HK:1398 +1.25%   /zigman2/quotes/204265987/delayed IDCBF 0.00%   /zigman2/quotes/202525815/delayed CN:601398 +0.20%  jumping 4.9%, China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 +0.40%   /zigman2/quotes/209484779/delayed CICHF +0.77% /zigman2/quotes/208058581/delayed CN:601939 +0.33%   climbing 4.4%, Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 +1.91%   /zigman2/quotes/208048873/delayed BKFCF -7.41% /zigman2/quotes/207155262/delayed CN:601328 -0.22%   rising 4.3%, and Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 0.00%   /zigman2/quotes/201568493/delayed BACHY -1.53%   /zigman2/quotes/209359942/delayed CN:601988 0.00%  higher by 3.6%.

The biggest gainer, Alibaba Health Information Technology Ltd. /zigman2/quotes/205411947/delayed HK:241 +3.98%  , soared 80.8%, after parent Alibaba Group Holding Ltd. /zigman2/quotes/201948298/composite BABA +0.33%  said it would transfer its Tmall online-pharmacy business to Alibaba Health in exchange for $2.5 billion worth of shares and convertible debt. After the deal, Alibaba Group’s stake in the health-care company would be set to increase to more than 50%, making it a consolidated subsidiary.

On the downside, online major Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 +1.29%   /zigman2/quotes/207908563/delayed TCEHY -0.14%   extended previous losses to decline 2.2%. Fellow index heavyweight China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 +0.31%   /zigman2/quotes/204514293/composite CHL -2.18%   also retreated, dropping 2.7%.

Other Asian markets were mostly weaker, with Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -1.50%  slipping 0.2% and the broader Topix /zigman2/quotes/210598092/delayed JP:180460 -1.97%  drifting 0.1% lower. The yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.1145%  softened, with the greenback buying ¥119.56, compared with ¥119.40 late Tuesday in New York.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -2.29%  shed 0.6%, while South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.86%  notched a 0.4% gain.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,455.04
+179.51 +0.77%
Volume: 850,784
Sept. 30, 2020 2:37p
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/zigman2/quotes/210598031/delayed
CN : Hong Kong Exchange
9,390.07
+108.55 +1.17%
Volume: 0.00
Sept. 30, 2020 2:37p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,221.66
-2.70 -0.08%
Volume: 13.36B
Sept. 30, 2020 2:36p
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 4.04
+0.05 +1.25%
Volume: 103.60M
Sept. 30, 2020 2:36p
P/E Ratio
4.43
Dividend Yield
7.11%
Market Cap
HK$1864.85 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/204265987/delayed
US : U.S.: OTC
$ 0.53
0.00 0.00%
Volume: 70,125
Sept. 29, 2020 11:31a
P/E Ratio
4.14
Dividend Yield
N/A
Market Cap
$240.62 billion
Rev. per Employee
$387,287
loading...
/zigman2/quotes/202525815/delayed
CN : China: Shanghai
¥ 4.92
+0.01 +0.20%
Volume: 138.07M
Sept. 30, 2020 2:37p
P/E Ratio
5.57
Dividend Yield
5.34%
Market Cap
¥1641.25 billion
Rev. per Employee
¥2.53M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 5.03
+0.02 +0.40%
Volume: 105.28M
Sept. 30, 2020 2:36p
P/E Ratio
4.53
Dividend Yield
6.95%
Market Cap
HK$1286.39 billion
Rev. per Employee
HK$3.31M
loading...
/zigman2/quotes/209484779/delayed
US : U.S.: OTC
$ 0.67
+0.0052 +0.77%
Volume: 27,000
Sept. 28, 2020 2:14p
P/E Ratio
4.33
Dividend Yield
N/A
Market Cap
$165.98 billion
Rev. per Employee
$422,749
loading...
/zigman2/quotes/208058581/delayed
CN : China: Shanghai
¥ 6.16
+0.02 +0.33%
Volume: 51.53M
Sept. 30, 2020 2:37p
P/E Ratio
5.69
Dividend Yield
5.19%
Market Cap
¥1132.15 billion
Rev. per Employee
¥2.76M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 3.73
+0.07 +1.91%
Volume: 19.42M
Sept. 30, 2020 2:36p
P/E Ratio
3.52
Dividend Yield
9.25%
Market Cap
HK$338.01 billion
Rev. per Employee
HK$5.47M
loading...
/zigman2/quotes/208048873/delayed
US : U.S.: OTC
$ 0.50
-0.04 -7.41%
Volume: 0.00
Sept. 22, 2020 9:40a
P/E Ratio
3.67
Dividend Yield
N/A
Market Cap
$43.91 billion
Rev. per Employee
$697,896
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 4.55
-0.01 -0.22%
Volume: 65.00M
Sept. 30, 2020 2:36p
P/E Ratio
4.76
Dividend Yield
6.92%
Market Cap
¥297.48 billion
Rev. per Employee
¥4.56M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 2.39
0.00 0.00%
Volume: 115.51M
Sept. 30, 2020 2:36p
P/E Ratio
3.64
Dividend Yield
8.76%
Market Cap
HK$979.04 billion
Rev. per Employee
HK$3.13M
loading...
/zigman2/quotes/201568493/delayed
US : U.S.: OTC
$ 7.71
-0.12 -1.53%
Volume: 132,148
Sept. 29, 2020 3:48p
P/E Ratio
3.33
Dividend Yield
7.24%
Market Cap
$126.33 billion
Rev. per Employee
$399,878
loading...
/zigman2/quotes/209359942/delayed
CN : China: Shanghai
¥ 3.20
0.00 0.00%
Volume: 87.03M
Sept. 30, 2020 2:37p
P/E Ratio
4.98
Dividend Yield
5.97%
Market Cap
¥861.65 billion
Rev. per Employee
¥2.61M
loading...
/zigman2/quotes/205411947/delayed
HK : Hong Kong
HK$ 18.82
+0.72 +3.98%
Volume: 14.10M
Sept. 30, 2020 2:36p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
HK$249.20 billion
Rev. per Employee
HK$8.49M
loading...
/zigman2/quotes/201948298/composite
US : U.S.: NYSE
$ 276.93
+0.92 +0.33%
Volume: 7.68M
Sept. 29, 2020 4:00p
P/E Ratio
29.74
Dividend Yield
N/A
Market Cap
$735.65 billion
Rev. per Employee
$781,259
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 512.00
+6.50 +1.29%
Volume: 6.41M
Sept. 30, 2020 2:36p
P/E Ratio
42.78
Dividend Yield
0.23%
Market Cap
HK$4808.35 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/207908563/delayed
US : U.S.: OTC
$ 65.55
-0.09 -0.14%
Volume: 1.65M
Sept. 29, 2020 4:00p
P/E Ratio
42.65
Dividend Yield
0.21%
Market Cap
$620.43 billion
Rev. per Employee
$1.05M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 49.10
+0.15 +0.31%
Volume: 16.96M
Sept. 30, 2020 2:37p
P/E Ratio
8.58
Dividend Yield
6.63%
Market Cap
HK$1024.80 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/204514293/composite
US : U.S.: NYSE
$ 31.83
-0.71 -2.18%
Volume: 1.46M
Sept. 29, 2020 4:00p
P/E Ratio
8.67
Dividend Yield
5.93%
Market Cap
$132.23 billion
Rev. per Employee
$239,645
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
23,185.12
-353.98 -1.50%
Volume: 0.00
Sept. 30, 2020 3:15p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,625.49
-32.61 -1.97%
Volume: 0.00
Sept. 30, 2020 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
105.5480
-0.1210 -0.1145%
Volume: 0.0000
Sept. 30, 2020 2:52a
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,815.90
-136.20 -2.29%
Volume: 921,546
Sept. 30, 2020 4:30p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,327.89
+19.81 +0.86%
Volume: 0.00
Sept. 29, 2020 3:32p
loading...

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

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