Bulletin
Investor Alert

New York Markets After Hours

Asia Markets Archives | Email alerts

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

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Hang Seng Index (HSI)
  • X
    Hang Seng China Enterprises Index (160462)
  • X
    Shanghai Composite Index (SHCOMP)

or Cancel Already have a watchlist? Log In

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 -0.49%  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 -0.78%  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 -1.38%   /zigman2/quotes/204265987/composite IDCBF -6.88%   /zigman2/quotes/202525815/delayed CN:601398 -0.46%  jumping 4.9%, China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 -0.90%   /zigman2/quotes/209484779/composite CICHF -4.32% /zigman2/quotes/208058581/delayed CN:601939 -1.08%   climbing 4.4%, Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 -0.74%   /zigman2/quotes/208048873/composite BKFCF +2.25% /zigman2/quotes/207155262/delayed CN:601328 -0.87%   rising 4.3%, and Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 -0.39%   /zigman2/quotes/201568493/composite BACHY -1.23%   /zigman2/quotes/209359942/delayed CN:601988 -0.65%  higher by 3.6%.

The biggest gainer, Alibaba Health Information Technology Ltd. /zigman2/quotes/205411947/delayed HK:241 -1.89%  , soared 80.8%, after parent Alibaba Group Holding Ltd. /zigman2/quotes/201948298/composite BABA -2.38%  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 -1.24%   /zigman2/quotes/207908563/composite TCEHY -4.25%   extended previous losses to decline 2.2%. Fellow index heavyweight China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 -0.40%    also retreated, dropping 2.7%.

Other Asian markets were mostly weaker, with Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.95%  slipping 0.2% and the broader Topix /zigman2/quotes/210598092/delayed JP:180460 +0.74%  drifting 0.1% lower. The yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.2317%  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 +1.44%  shed 0.6%, while South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.08%  notched a 0.4% gain.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
17,165.87
-85.01 -0.49%
Volume: 2.53M
Sept. 29, 2022 4:09p
loading...
/zigman2/quotes/210598031/delayed
CN : Hong Kong Exchange
5,912.25
-46.37 -0.78%
Volume: 0.00
Sept. 29, 2022 4:09p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,041.20
-3.86 -0.13%
Volume: 23.00B
Sept. 29, 2022 3:00p
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
$ 3.58
-0.05 -1.38%
Volume: 214.40M
Sept. 29, 2022 4:09p
P/E Ratio
3.04
Dividend Yield
9.59%
Market Cap
$1585.45 billion
Rev. per Employee
$3.85M
loading...
/zigman2/quotes/204265987/composite
US : U.S.: OTC
$ 0.47
-0.03 -6.88%
Volume: 200.00
Sept. 28, 2022 2:42p
P/E Ratio
3.00
Dividend Yield
N/A
Market Cap
$201.98 billion
Rev. per Employee
$514,332
loading...
/zigman2/quotes/202525815/delayed
CN : China: Shanghai
¥ 4.33
-0.02 -0.46%
Volume: 175.88M
Sept. 29, 2022 3:00p
P/E Ratio
4.33
Dividend Yield
6.77%
Market Cap
¥1463.68 billion
Rev. per Employee
¥3.30M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
$ 4.41
-0.04 -0.90%
Volume: 287.25M
Sept. 29, 2022 4:09p
P/E Ratio
2.93
Dividend Yield
9.66%
Market Cap
$1127.74 billion
Rev. per Employee
$4.63M
loading...
/zigman2/quotes/209484779/composite
US : U.S.: OTC
$ 0.55
-0.02 -4.32%
Volume: 26,165
Sept. 29, 2022 11:49a
P/E Ratio
2.84
Dividend Yield
N/A
Market Cap
$143.67 billion
Rev. per Employee
$563,869
loading...
/zigman2/quotes/208058581/delayed
CN : China: Shanghai
¥ 5.51
-0.06 -1.08%
Volume: 36.80M
Sept. 29, 2022 3:00p
P/E Ratio
4.47
Dividend Yield
6.61%
Market Cap
¥1041.12 billion
Rev. per Employee
¥3.64M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
$ 4.05
-0.03 -0.74%
Volume: 24.31M
Sept. 29, 2022 4:09p
P/E Ratio
2.77
Dividend Yield
10.27%
Market Cap
$339.27 billion
Rev. per Employee
$6.86M
loading...
/zigman2/quotes/208048873/composite
US : U.S.: OTC
$ 0.58
+0.01 +2.25%
Volume: 0.00
Sept. 14, 2022 11:57a
P/E Ratio
3.17
Dividend Yield
N/A
Market Cap
$45.73 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 4.58
-0.04 -0.87%
Volume: 59.31M
Sept. 29, 2022 3:00p
P/E Ratio
3.88
Dividend Yield
7.75%
Market Cap
¥313.22 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
$ 2.54
-0.01 -0.39%
Volume: 238.03M
Sept. 29, 2022 4:09p
P/E Ratio
2.77
Dividend Yield
10.19%
Market Cap
$914.06 billion
Rev. per Employee
$3.99M
loading...
/zigman2/quotes/201568493/composite
US : U.S.: OTC
$ 8.05
-0.10 -1.23%
Volume: 249,111
Sept. 29, 2022 3:47p
P/E Ratio
2.74
Dividend Yield
8.60%
Market Cap
$116.45 billion
Rev. per Employee
$504,356
loading...
/zigman2/quotes/209359942/delayed
CN : China: Shanghai
¥ 3.05
-0.02 -0.65%
Volume: 96.90M
Sept. 29, 2022 3:00p
P/E Ratio
4.01
Dividend Yield
7.25%
Market Cap
¥843.85 billion
Rev. per Employee
¥3.26M
loading...
/zigman2/quotes/205411947/delayed
HK : Hong Kong
$ 3.63
-0.07 -1.89%
Volume: 26.09M
Sept. 29, 2022 4:09p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$50.00 billion
Rev. per Employee
$13.50M
loading...
/zigman2/quotes/201948298/composite
US : U.S.: NYSE
$ 79.06
-1.93 -2.38%
Volume: 17.79M
Sept. 29, 2022 4:02p
P/E Ratio
43.56
Dividend Yield
N/A
Market Cap
$201.61 billion
Rev. per Employee
$518,515
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
$ 270.60
-3.40 -1.24%
Volume: 20.16M
Sept. 29, 2022 4:09p
P/E Ratio
12.27
Dividend Yield
0.59%
Market Cap
$2606.49 billion
Rev. per Employee
$5.96M
loading...
/zigman2/quotes/207908563/composite
US : U.S.: OTC
$ 34.27
-1.52 -4.25%
Volume: 3.38M
Sept. 29, 2022 3:59p
P/E Ratio
12.11
Dividend Yield
0.52%
Market Cap
$332.06 billion
Rev. per Employee
$764,093
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
$ 49.90
-0.20 -0.40%
Volume: 25.25M
Sept. 29, 2022 4:09p
P/E Ratio
7.31
Dividend Yield
9.28%
Market Cap
$1025.05 billion
Rev. per Employee
$2.27M
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
26,422.05
+248.07 +0.95%
Volume: 0.00
Sept. 29, 2022 3:15p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,868.80
+13.65 +0.74%
Volume: 0.00
Sept. 29, 2022 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
144.4570
+0.3340 +0.2317%
Volume: 0.0000
Sept. 29, 2022 4:50p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,555.00
+93.00 +1.44%
Volume: 846,901
Sept. 29, 2022 5:05p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,170.93
+1.64 +0.08%
Volume: 508,500
Sept. 29, 2022 3:33p
loading...

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

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.