Bulletin
Investor Alert

Asia Markets Archives | Email alerts

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

Hong Kong stocks snap losing streak on liquidity boost

Tokyo stocks inch lower

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
    Bank of Communications Co. Ltd. (3328)
  • X
    Industrial & Commercial Bank of China Ltd. (1398)

or Cancel Already have a watchlist? Log In

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 +0.46%  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 +0.97%   climbing 2.3%, Industrial & Commercial Bank of China Ltd. /zigman2/quotes/201401473/delayed HK:1398 +0.91%   adding 2%, China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 +1.24%   rising 1.9%, Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 +0.63%   gaining 1.7%, and Agricultural Bank of China Ltd. /zigman2/quotes/200705246/delayed HK:1288 +1.27%   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 +1.45%   iPhone 6 in mainland China remains still uncertain. Index heavyweight China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 +1.98%   went 1.6% higher, while its smaller rivals China Telecom Corp. /zigman2/quotes/206668971/delayed HK:728 +1.93%   and China Unicom Hong Kong Ltd. /zigman2/quotes/205091392/delayed HK:762 +1.65%   improved by 1.1% and 0.2%, respectively.

Over on the Chinese mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.32%   rose 0.5%.

In other Asian markets, Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.89%  inched down 0.1%, with the yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.1015%  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 +0.37%  dropped 0.5%.

In Sydney, the S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.43%  declined 0.7%, as the Australian dollar /zigman2/quotes/210560947/realtime/sampled AUDUSD 0.0000%   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 +0.07%  settled 1% higher.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,655.81
+125.61 +0.46%
Volume: 1.47M
Feb. 19, 2020 4:08p
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 5.21
+0.05 +0.97%
Volume: 20.78M
Feb. 19, 2020 4:08p
P/E Ratio
4.43
Dividend Yield
6.54%
Market Cap
HK$383.20 billion
Rev. per Employee
HK$5.47M
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 5.56
+0.05 +0.91%
Volume: 192.11M
Feb. 19, 2020 4:08p
P/E Ratio
5.61
Dividend Yield
5.12%
Market Cap
HK$1963.80 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.55
+0.08 +1.24%
Volume: 328.13M
Feb. 19, 2020 4:08p
P/E Ratio
5.49
Dividend Yield
5.33%
Market Cap
HK$1617.57 billion
Rev. per Employee
HK$3.31M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 3.22
+0.02 +0.63%
Volume: 232.33M
Feb. 19, 2020 4:08p
P/E Ratio
4.53
Dividend Yield
6.55%
Market Cap
HK$941.97 billion
Rev. per Employee
HK$3.13M
loading...
/zigman2/quotes/200705246/delayed
HK : Hong Kong
HK$ 3.20
+0.04 +1.27%
Volume: 163.62M
Feb. 19, 2020 4:08p
P/E Ratio
4.63
Dividend Yield
6.18%
Market Cap
HK$1105.95 billion
Rev. per Employee
HK$2.16M
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 323.62
+4.62 +1.45%
Volume: 23.44M
Feb. 19, 2020 4:00p
P/E Ratio
25.56
Dividend Yield
0.95%
Market Cap
$1395.78 billion
Rev. per Employee
$1.98M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 67.05
+1.30 +1.98%
Volume: 12.16M
Feb. 19, 2020 4:08p
P/E Ratio
11.04
Dividend Yield
4.35%
Market Cap
HK$1346.26 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/206668971/delayed
HK : Hong Kong
HK$ 3.17
+0.06 +1.93%
Volume: 37.39M
Feb. 19, 2020 4:08p
P/E Ratio
10.34
Dividend Yield
3.94%
Market Cap
HK$251.70 billion
Rev. per Employee
HK$1.57M
loading...
/zigman2/quotes/205091392/delayed
HK : Hong Kong
HK$ 6.79
+0.11 +1.65%
Volume: 22.70M
Feb. 19, 2020 4:08p
P/E Ratio
16.18
Dividend Yield
2.29%
Market Cap
HK$204.40 billion
Rev. per Employee
HK$1.29M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,975.40
-9.57 -0.32%
Volume: 31.51B
Feb. 19, 2020 3:01p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
23,400.70
+206.90 +0.89%
Volume: 0.00
Feb. 19, 2020 3:15p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
111.2490
-0.1130 -0.1015%
Volume: 0.0000
Feb. 19, 2020 6:04p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,671.86
+6.15 +0.37%
Volume: 0.00
Feb. 19, 2020 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,144.60
+30.90 +0.43%
Volume: 1,232
Feb. 20, 2020 8:58a
loading...
/zigman2/quotes/210560947/realtime/sampled
US : Tullett Prebon
0.6677
0.0000 0.0000%
Volume: 0.0000
Feb. 19, 2020 6:04p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,210.34
+1.46 +0.07%
Volume: 591,155
Feb. 19, 2020 3:30p
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.