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April 14, 2015, 5:36 a.m. EDT

Hong Kong stocks snap eight-day win streak amid profit-taking

Shanghai markets extend recent advances

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By Laura He, MarketWatch


Reuters Enlarge Image
Hong Kong stocks pull back on Tuesday, while other Asian markets mostly gain ground.

HONG KONG (MarketWatch) — Hong Kong stocks declined on Tuesday, retreating from a seven-year closing high, as investors took some profit after eight straight sessions of advances.

Meanwhile, Shanghai markets extended recent rallies after a choppy session, as investors looked ahead to a slew of key economic data due out on Wednesday, including China’s GDP growth figures for the first quarter.

Hong Kong’s benchmark Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +1.83%  dropped 1.6% to 27,561.49, with the mainland-China-tracking Hang Seng China Enterprises /zigman2/quotes/210598031/delayed CN:160462 +1.83%   down 2.2%.

Index heavyweight Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 +1.93%  sank 5.5% following a 5.4% jump on Monday, after exchange filings showed the online-content company’s chairman, Pony Ma, sold 2 million shares last week for 3.2 billion Hong Kong dollars ($416 million), decreasing his personal stake in Tencent to 9.65%.

Macau gaming stocks extended losses, as investors worried China might restrict mainland tourist visits to Macau after announcing a new internal visa arrangement on Monday to slash visits to Hong Kong by residents from the neighboring city of Shenzhen. Galaxy Entertainment Group Ltd. /zigman2/quotes/202884203/delayed HK:27 +6.07%  slid 5.6%, SJM Holdings Ltd. /zigman2/quotes/203488207/delayed HK:880 +4.68%  sagged 5.4%, Sands China Ltd. /zigman2/quotes/207609245/delayed HK:1928 +5.20%   fell 4.8%, and Wynn Macau Ltd. /zigman2/quotes/200973447/delayed HK:1128 +2.46%  shed 4.4%.

Mainland banks were also broadly weaker, despite that China’s central bank injected 10 billion yuan ($1.6 billion) into money markets via seven-day reverse purchase agreements and cut the rate by 10 basis points to 3.35%, in a move attempted to guide short-term borrowing costs lower. China Merchants Bank Co., Ltd. /zigman2/quotes/209899244/delayed HK:3968 +6.43%   gave up 6.1% following a previous 24.8% surge. China Minsheng Banking Corp., Ltd. /zigman2/quotes/208095167/delayed HK:1988 +3.04%   lost 3.4%, and Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 +3.72%  dropped 2%.

However, over on the mainland, Shanghai stocks continued to edge higher after hitting a seven-year high in the previous session. The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +1.40%  added 0.3%, capping a three-day winning streak.

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Other Asian markets mostly eked out gains. Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.46%  nudged higher by less than 0.1%, and the broader Topix /zigman2/quotes/210598092/delayed JP:180460 +0.32%  rose 0.3%. The yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1668%  gained against the greenback, with the dollar buying ¥119.73, compared to ¥120.74 at Monday’s Tokyo stock close.

South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +1.00%  also tacked on 0.6%, while Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.82%  edged 0.2% lower.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,629.42
+533.56 +1.83%
Volume: 1.78M
March 3, 2021 1:48p
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/zigman2/quotes/210598031/delayed
CN : Hong Kong Exchange
11,569.45
+208.10 +1.83%
Volume: 0.00
March 3, 2021 1:48p
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/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 711.50
+13.50 +1.93%
Volume: 8.79M
March 3, 2021 1:48p
P/E Ratio
50.69
Dividend Yield
0.17%
Market Cap
HK$6630.61 billion
Rev. per Employee
HK$6.80M
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/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 73.40
+4.20 +6.07%
Volume: 12.02M
March 3, 2021 1:47p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$314.72 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203488207/delayed
HK : Hong Kong
HK$ 11.18
+0.50 +4.68%
Volume: 20.38M
March 3, 2021 1:47p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$62.23 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
HK$ 37.45
+1.85 +5.20%
Volume: 13.20M
March 3, 2021 1:47p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$296.50 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200973447/delayed
HK : Hong Kong
HK$ 15.00
+0.36 +2.46%
Volume: 11.02M
March 3, 2021 1:47p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$77.99 billion
Rev. per Employee
HK$3.23M
loading...
/zigman2/quotes/209899244/delayed
HK : Hong Kong
HK$ 62.10
+3.75 +6.43%
Volume: 17.81M
March 3, 2021 1:48p
P/E Ratio
15.29
Dividend Yield
2.11%
Market Cap
HK$1521.64 billion
Rev. per Employee
HK$5.29M
loading...
/zigman2/quotes/208095167/delayed
HK : Hong Kong
HK$ 4.74
+0.14 +3.04%
Volume: 14.31M
March 3, 2021 1:47p
P/E Ratio
3.70
Dividend Yield
8.54%
Market Cap
HK$258.52 billion
Rev. per Employee
HK$6.45M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 2.79
+0.10 +3.72%
Volume: 370.21M
March 3, 2021 1:48p
P/E Ratio
4.27
Dividend Yield
7.50%
Market Cap
HK$1045.42 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,557.78
+49.19 +1.40%
Volume: 26.12B
March 3, 2021 1:47p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
29,542.56
+134.39 +0.46%
Volume: 0.00
March 3, 2021 2:43p
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/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,900.84
+5.99 +0.32%
Volume: 0.00
March 3, 2021 2:43p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
106.8640
+0.1780 +0.1668%
Volume: 0.0000
March 3, 2021 1:02a
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,074.17
+30.30 +1.00%
Volume: 2.03M
March 3, 2021 2:43p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,818.00
+55.70 +0.82%
Volume: 583,838
March 3, 2021 4:40p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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