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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 +0.10%  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 -0.06%  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 -0.13%  pulling back 1.2%.

Mainland Chinese banks posted broad-based gains, with Industrial & Commercial Bank of China Ltd.  /zigman2/quotes/201401473/delayed HK:1398 +0.55%   /zigman2/quotes/204265987/composite IDCBF -3.27%   /zigman2/quotes/202525815/delayed CN:601398 -0.92%  jumping 4.9%, China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 0.00%   /zigman2/quotes/209484779/composite CICHF +4.22% /zigman2/quotes/208058581/delayed CN:601939 -1.38%   climbing 4.4%, Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 +1.19%   /zigman2/quotes/208048873/composite BKFCF 0.00% /zigman2/quotes/207155262/delayed CN:601328 +0.41%   rising 4.3%, and Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 +0.96%   /zigman2/quotes/201568493/composite BACHY +0.50%   /zigman2/quotes/209359942/delayed CN:601988 -0.30%  higher by 3.6%.

The biggest gainer, Alibaba Health Information Technology Ltd. /zigman2/quotes/205411947/delayed HK:241 -0.87%  , soared 80.8%, after parent Alibaba Group Holding Ltd. /zigman2/quotes/201948298/composite BABA -0.80%  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 -0.72%   /zigman2/quotes/207908563/composite TCEHY -1.72%   extended previous losses to decline 2.2%. Fellow index heavyweight China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 +0.48%    also retreated, dropping 2.7%.

Other Asian markets were mostly weaker, with Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -1.97%  slipping 0.2% and the broader Topix /zigman2/quotes/210598092/delayed JP:180460 -1.55%  drifting 0.1% lower. The yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.2340%  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 -0.68%  shed 0.6%, while South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.68%  notched a 0.4% gain.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,135.73
+29.58 +0.10%
Volume: 2.01M
April 20, 2021 4:08p
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/zigman2/quotes/210598031/delayed
CN : Hong Kong Exchange
11,085.87
-7.08 -0.06%
Volume: 0.00
April 20, 2021 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,472.94
-4.61 -0.13%
Volume: 28.53B
April 20, 2021 3:01p
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/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 5.50
+0.03 +0.55%
Volume: 124.30M
April 20, 2021 4:08p
P/E Ratio
5.67
Dividend Yield
5.77%
Market Cap
HK$2185.40 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204265987/composite
US : U.S.: OTC
$ 0.68
-0.02 -3.27%
Volume: 0.00
April 15, 2021 3:35p
P/E Ratio
5.28
Dividend Yield
N/A
Market Cap
$285.50 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202525815/delayed
CN : China: Shanghai
¥ 5.39
-0.05 -0.92%
Volume: 177.07M
April 20, 2021 3:00p
P/E Ratio
6.08
Dividend Yield
4.94%
Market Cap
¥1865.06 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.55
0.00 0.00%
Volume: 297.09M
April 20, 2021 4:08p
P/E Ratio
5.97
Dividend Yield
5.94%
Market Cap
HK$1645.52 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209484779/composite
US : U.S.: OTC
$ 0.87
+0.04 +4.22%
Volume: 0.00
April 19, 2021 11:05a
P/E Ratio
6.12
Dividend Yield
N/A
Market Cap
$211.87 billion
Rev. per Employee
$455,946
loading...
/zigman2/quotes/208058581/delayed
CN : China: Shanghai
¥ 7.17
-0.10 -1.38%
Volume: 97.02M
April 20, 2021 3:00p
P/E Ratio
7.25
Dividend Yield
4.55%
Market Cap
¥1384.06 billion
Rev. per Employee
¥3.15M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 5.09
+0.06 +1.19%
Volume: 22.09M
April 20, 2021 4:08p
P/E Ratio
4.54
Dividend Yield
7.43%
Market Cap
HK$401.15 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208048873/composite
US : U.S.: OTC
$ 0.58
0.00 0.00%
Volume: 0.00
April 5, 2021 3:27p
P/E Ratio
4.32
Dividend Yield
N/A
Market Cap
$48.64 billion
Rev. per Employee
$786,734
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 4.92
+0.02 +0.41%
Volume: 78.78M
April 20, 2021 3:00p
P/E Ratio
5.23
Dividend Yield
6.44%
Market Cap
¥337.41 billion
Rev. per Employee
¥5.43M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 3.14
+0.03 +0.96%
Volume: 342.72M
April 20, 2021 4:08p
P/E Ratio
4.26
Dividend Yield
7.49%
Market Cap
HK$1082.72 billion
Rev. per Employee
HK$3.34M
loading...
/zigman2/quotes/201568493/composite
US : U.S.: OTC
$ 9.96
+0.05 +0.50%
Volume: 26,380
April 19, 2021 3:56p
P/E Ratio
4.20
Dividend Yield
11.87%
Market Cap
$139.41 billion
Rev. per Employee
$427,123
loading...
/zigman2/quotes/209359942/delayed
CN : China: Shanghai
¥ 3.31
-0.01 -0.30%
Volume: 120.66M
April 20, 2021 3:00p
P/E Ratio
5.05
Dividend Yield
5.95%
Market Cap
¥910.69 billion
Rev. per Employee
¥2.95M
loading...
/zigman2/quotes/205411947/delayed
HK : Hong Kong
HK$ 22.80
-0.20 -0.87%
Volume: 11.66M
April 20, 2021 4:08p
P/E Ratio
966.10
Dividend Yield
N/A
Market Cap
HK$303.40 billion
Rev. per Employee
HK$10.88M
loading...
/zigman2/quotes/201948298/composite
US : U.S.: NYSE
$ 232.90
-1.88 -0.80%
Volume: 154,194
April 20, 2021 9:37a
P/E Ratio
27.68
Dividend Yield
N/A
Market Cap
$652.77 billion
Rev. per Employee
$622,130
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 622.50
-4.50 -0.72%
Volume: 15.23M
April 20, 2021 4:08p
P/E Ratio
33.31
Dividend Yield
0.26%
Market Cap
HK$5898.24 billion
Rev. per Employee
HK$10.55M
loading...
/zigman2/quotes/207908563/composite
US : U.S.: OTC
$ 79.61
-1.39 -1.72%
Volume: 50,148
April 19, 2021 3:59p
P/E Ratio
33.03
Dividend Yield
0.23%
Market Cap
$759.43 billion
Rev. per Employee
$1.36M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 52.35
+0.25 +0.48%
Volume: 27.72M
April 20, 2021 4:08p
P/E Ratio
8.85
Dividend Yield
6.28%
Market Cap
HK$1017.63 billion
Rev. per Employee
HK$1.90M
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
29,100.38
-584.99 -1.97%
Volume: 0.00
April 20, 2021 3:15p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,926.25
-30.31 -1.55%
Volume: 0.00
April 20, 2021 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.3930
+0.2530 +0.2340%
Volume: 0.0000
April 20, 2021 9:37a
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,017.80
-47.80 -0.68%
Volume: 554,640
April 20, 2021 5:07p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,220.70
+21.86 +0.68%
Volume: 1.30M
April 20, 2021 3:30p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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