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Sept. 17, 2014, 5:14 a.m. EDT

Hong Kong stocks snap losing streak on liquidity boost

Tokyo stocks inch lower

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By Laura He, MarketWatch


Shutterstock/Ufuk Zivana

HONG KONG (MarketWatch) — Hong Kong stocks bounced back Wednesday, breaking an eight-day losing streak, after China’s central bank reportedly pumped tens of billions of dollars into the banking system to spur economic growth in China amid a worse-than-expected slowdown.

The People’s Bank of China is injecting 500 billion yuan ($81 billion) into the country’s five major state-owned banks, a move seen by many as a response to a batch of disappointing economic data in August, media reports said Wednesday.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.47%  rebounded 1%, recouping some losses after having registered a roughly 4.7% loss over the eight previous sessions.

Mainland Chinese banks advanced broadly, with Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 0.00%   climbing 2.3%, Industrial & Commercial Bank of China Ltd. /zigman2/quotes/201401473/delayed HK:1398 +0.24%   adding 2%, China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 +0.38%   rising 1.9%, Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 +0.40%   gaining 1.7%, and Agricultural Bank of China Ltd. /zigman2/quotes/200705246/delayed HK:1288 +1.59%   tacking on 1.1%.

Telecoms shares also clawed back some ground, after falling hard a day ago amid reports that the release date of Apple Inc.’s /zigman2/quotes/202934861/composite AAPL -3.17%   iPhone 6 in mainland China remains still uncertain. Index heavyweight China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 +0.10%   went 1.6% higher, while its smaller rivals China Telecom Corp. /zigman2/quotes/206668971/delayed HK:728 +0.40%   and China Unicom Hong Kong Ltd. /zigman2/quotes/205091392/delayed HK:762 +4.75%   improved by 1.1% and 0.2%, respectively.

Over on the Chinese mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +2.07%   rose 0.5%.

In other Asian markets, Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.18%  inched down 0.1%, with the yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0115%  slightly lower against the greenback, trading at ¥107.262 compared with ¥107.140 a day ago. Japan’s Topix Index /zigman2/quotes/210598092/delayed JP:180460 +0.49%  dropped 0.5%.

In Sydney, the S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.32%  declined 0.7%, as the Australian dollar /zigman2/quotes/210560947/realtime/sampled AUDUSD +0.0274%   fell to 90.67 U.S. cents, from 90.84 U.S. cents in the previous day. Meanwhile, Seoul’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.26%  settled 1% higher.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,455.41
+114.56 +0.47%
Volume: 2.30M
Sept. 18, 2020 4:09p
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/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 3.90
0.00 0.00%
Volume: 31.37M
Sept. 18, 2020 4:09p
P/E Ratio
3.68
Dividend Yield
8.85%
Market Cap
HK$347.18 billion
Rev. per Employee
HK$5.47M
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 4.25
+0.01 +0.24%
Volume: 254.40M
Sept. 18, 2020 4:09p
P/E Ratio
4.66
Dividend Yield
6.76%
Market Cap
HK$1908.48 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 5.32
+0.02 +0.38%
Volume: 329.20M
Sept. 18, 2020 4:09p
P/E Ratio
4.79
Dividend Yield
6.57%
Market Cap
HK$1347.67 billion
Rev. per Employee
HK$3.31M
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/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 2.51
+0.01 +0.40%
Volume: 462.07M
Sept. 18, 2020 4:09p
P/E Ratio
3.83
Dividend Yield
8.34%
Market Cap
HK$992.86 billion
Rev. per Employee
HK$3.13M
loading...
/zigman2/quotes/200705246/delayed
HK : Hong Kong
HK$ 2.55
+0.04 +1.59%
Volume: 101.30M
Sept. 18, 2020 4:09p
P/E Ratio
4.03
Dividend Yield
7.81%
Market Cap
HK$1249.81 billion
Rev. per Employee
HK$2.16M
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 106.84
-3.50 -3.17%
Volume: 287.10M
Sept. 18, 2020 4:00p
P/E Ratio
32.48
Dividend Yield
0.77%
Market Cap
$1852.32 billion
Rev. per Employee
$1.98M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 52.45
+0.05 +0.10%
Volume: 27.08M
Sept. 18, 2020 4:09p
P/E Ratio
9.16
Dividend Yield
6.20%
Market Cap
HK$1073.94 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/206668971/delayed
HK : Hong Kong
HK$ 2.51
+0.01 +0.40%
Volume: 64.19M
Sept. 18, 2020 4:09p
P/E Ratio
8.93
Dividend Yield
4.98%
Market Cap
HK$203.14 billion
Rev. per Employee
HK$1.57M
loading...
/zigman2/quotes/205091392/delayed
HK : Hong Kong
HK$ 5.73
+0.26 +4.75%
Volume: 47.50M
Sept. 18, 2020 4:09p
P/E Ratio
13.17
Dividend Yield
2.82%
Market Cap
HK$175.33 billion
Rev. per Employee
HK$1.29M
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,338.09
+67.65 +2.07%
Volume: 25.63B
Sept. 18, 2020 3:01p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
23,360.30
+40.93 +0.18%
Volume: 0.00
Sept. 18, 2020 3:15p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
104.5600
-0.0120 -0.0115%
Volume: 0.0000
Sept. 18, 2020 4:59p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,646.42
+8.02 +0.49%
Volume: 0.00
Sept. 18, 2020 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,864.50
-18.70 -0.32%
Volume: 1.51M
Sept. 18, 2020 5:05p
loading...
/zigman2/quotes/210560947/realtime/sampled
US : Tullett Prebon
0.7291
+0.0002 +0.0274%
Volume: 0.0000
Sept. 18, 2020 4:59p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,412.40
+6.23 +0.26%
Volume: 756,516
Sept. 18, 2020 3:32p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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