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Feb. 11, 2015, 4:14 a.m. EST

Hong Kong stocks retreat as HSBC slides

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By Laura He, MarketWatch


Shutterstock/Leungchopan

HONG KONG (MarketWatch) -- Hong Kong stocks pulled back Wednesday, as a slide in the top-weighted HSBC Holdings PLC dragged the benchmark index lower, while investors also took a cautious stance after the Chinese central bank said it would maintain a steady monetary policy.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.01%  ended 0.9% lower, with the Hang Seng China Enterprises /zigman2/quotes/210598031/delayed CN:160462 -0.17%   down 0.4%.

The biggest drag came as banking major HSBC /zigman2/quotes/202687335/delayed HK:5 +2.77%  , which carries a more than 12% weighting on the Hang Seng, extended its weakness from previous sessions after a report on alleged tax evasion at its Swiss unit. Shares of HSBC tumbled 2.2%, while fellow London-based lender Standard Chartered plc /zigman2/quotes/202369078/delayed HK:2888 +0.90%  slid 2.4%.

Major Chinese banks were mostly lower, after the People’s Bank of China said in its quarterly report on Tuesday that it would keep monetary policy steady and create a “neutral and moderate” financial environment for China’s economic restructuring.

China Construction Bank Corporation /zigman2/quotes/208974133/delayed HK:939 +0.16%  lost 1%, both Industrial and Commercial Bank of China Ltd. /zigman2/quotes/201401473/delayed HK:1398 +0.97%   and Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 0.00%  fell 0.9%, Agricultural Bank of China Ltd. /zigman2/quotes/200705246/delayed HK:1288 +0.33%  dropped 0.8%, while China Citic Bank Corporation Ltd. /zigman2/quotes/205809997/delayed HK:998 +1.39%  rose 0.4%.

Over on the mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +1.30%  rose for a third day in a row, up 0.5%.

In other Asian markets, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.74%  gave up 0.5%, while South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.70%  advanced 0.5%.

Japan markets were closed on Wednesday for a public holiday.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,965.69
+3.22 +0.01%
Volume: 1.36M
Jan. 21, 2021 11:41a
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/zigman2/quotes/210598031/delayed
CN : Hong Kong Exchange
11,929.38
-19.97 -0.17%
Volume: 0.00
Jan. 21, 2021 11:41a
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/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 44.45
+1.20 +2.77%
Volume: 26.57M
Jan. 21, 2021 11:41a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$884.54 billion
Rev. per Employee
HK$3.14M
loading...
/zigman2/quotes/202369078/delayed
HK : Hong Kong
HK$ 50.20
+0.45 +0.90%
Volume: 700,632
Jan. 21, 2021 11:41a
P/E Ratio
14.57
Dividend Yield
N/A
Market Cap
HK$158.35 billion
Rev. per Employee
HK$2.30M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.23
+0.01 +0.16%
Volume: 139.00M
Jan. 21, 2021 11:41a
P/E Ratio
5.67
Dividend Yield
5.61%
Market Cap
HK$1584.67 billion
Rev. per Employee
HK$3.58M
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 5.18
+0.05 +0.97%
Volume: 92.14M
Jan. 21, 2021 11:41a
P/E Ratio
5.75
Dividend Yield
5.55%
Market Cap
HK$2123.72 billion
Rev. per Employee
HK$3.26M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 2.78
0.00 0.00%
Volume: 83.24M
Jan. 21, 2021 11:41a
P/E Ratio
4.25
Dividend Yield
7.53%
Market Cap
HK$1042.38 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200705246/delayed
HK : Hong Kong
HK$ 3.03
+0.01 +0.33%
Volume: 38.01M
Jan. 21, 2021 11:40a
P/E Ratio
4.85
Dividend Yield
6.57%
Market Cap
HK$1314.27 billion
Rev. per Employee
HK$2.48M
loading...
/zigman2/quotes/205809997/delayed
HK : Hong Kong
HK$ 3.65
+0.05 +1.39%
Volume: 22.60M
Jan. 21, 2021 11:40a
P/E Ratio
4.06
Dividend Yield
7.15%
Market Cap
HK$265.58 billion
Rev. per Employee
HK$6.62M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,629.61
+46.52 +1.30%
Volume: 20.10B
Jan. 21, 2021 11:41a
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,820.50
+50.10 +0.74%
Volume: 399,162
Jan. 21, 2021 2:36p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,136.40
+21.85 +0.70%
Volume: 861,191
Jan. 21, 2021 12:36p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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