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Oct. 8, 2014, 5:57 a.m. EDT

Hong Kong stocks snap three-day recovery run

Japanese stocks slide

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By Laura He, MarketWatch


Shutterstock/Mike Demidov

HONG KONG (MarketWatch) -- Hong Kong stocks closed lower on Wednesday, keying off a selloff in the U.S. markets overnight, and ending a three-session run of gains.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.47%  retreated 0.7%, marking the fifth decline in the past eight days.

Banks and tech stocks dropped, with several index heavyweights falling hard, including a 1.1% pullback for telecom giant China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 +3.36% , and a 0.9% move lower for online major Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 -1.59% .

Among financial stocks, top underperformers included China Merchants Bank Co. /zigman2/quotes/209899244/delayed HK:3968 -1.52% , down 1.5%, and Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 +1.79% , off 0.9%.

Casino stocks tumbled, as MGM China Holdings Ltd. /zigman2/quotes/203735819/delayed HK:2282 0.00%  slid 3.2% and Galaxy Entertainment Group Ltd. /zigman2/quotes/202884203/delayed HK:27 +0.20%  lost 2.7%. Both Sands China Ltd. /zigman2/quotes/207609245/delayed HK:1928 -2.11%  and Melco Crown Entertainment Ltd.  dropped 2.5%, and Wynn Macau Ltd. /zigman2/quotes/200973447/delayed HK:1128 +0.90%  skidded 2.1%.

Oil stocks were also weak as international crude prices fell, with state-owned energy giant PetroChina Co. /zigman2/quotes/204979431/delayed HK:857 +3.17%  giving up 2%, offshore oil producer Cnooc Ltd. /zigman2/quotes/203421416/delayed HK:883 +2.42% moving down 1.3%, and China Petroleum & Chemical Corp. /zigman2/quotes/202085942/delayed HK:386 +1.15% , or Sinopec, trading 0.6% lower.

However, mainland Chinese real-estate developer Sunac China Holdings Ltd. /zigman2/quotes/206127839/delayed HK:1918 -2.02% bucked the trend and rose 0.6% as the company’s contract sales for the first nine months of this year jumped 33% from a year ago. Rival Greentown China Holdings Ltd. /zigman2/quotes/210429626/delayed HK:3900 -4.10% also added 0.4% after reporting a 28% increase in its contract sales for last month.

Over on the Chinese mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.04% advanced 0.8% on its first trading day after a week-long National Day holiday.

In other Asian markets, Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -0.23%  closed down 1.2%, with the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0231% rising to ¥108.013, compared with ¥107.828 a day earlier. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 +0.61%  also finished 1.2% lower.

Elsewhere, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.74%  declined 0.8%, and South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 -0.57%  settled 0.4% lower.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,098.29
-138.50 -0.47%
Volume: 4.00M
March 5, 2021 4:09p
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/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 56.85
+1.85 +3.36%
Volume: 69.19M
March 5, 2021 4:08p
P/E Ratio
9.93
Dividend Yield
5.72%
Market Cap
HK$1164.03 billion
Rev. per Employee
HK$1.85M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 679.00
-11.00 -1.59%
Volume: 27.14M
March 5, 2021 4:08p
P/E Ratio
48.38
Dividend Yield
0.18%
Market Cap
HK$6459.37 billion
Rev. per Employee
HK$6.80M
loading...
/zigman2/quotes/209899244/delayed
HK : Hong Kong
HK$ 61.45
-0.95 -1.52%
Volume: 33.00M
March 5, 2021 4:08p
P/E Ratio
15.13
Dividend Yield
2.14%
Market Cap
HK$1553.17 billion
Rev. per Employee
HK$5.29M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 4.55
+0.08 +1.79%
Volume: 46.06M
March 5, 2021 4:08p
P/E Ratio
4.36
Dividend Yield
7.58%
Market Cap
HK$377.62 billion
Rev. per Employee
HK$5.94M
loading...
/zigman2/quotes/203735819/delayed
HK : Hong Kong
HK$ 13.46
0.00 0.00%
Volume: 3.09M
March 5, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$51.15 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 73.55
+0.15 +0.20%
Volume: 17.65M
March 5, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$319.91 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
HK$ 37.10
-0.80 -2.11%
Volume: 22.11M
March 5, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$300.18 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200973447/delayed
HK : Hong Kong
HK$ 15.70
+0.14 +0.90%
Volume: 20.40M
March 5, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$81.74 billion
Rev. per Employee
HK$3.23M
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 2.93
+0.09 +3.17%
Volume: 343.95M
March 5, 2021 4:08p
P/E Ratio
25.39
Dividend Yield
4.93%
Market Cap
HK$919.76 billion
Rev. per Employee
HK$5.79M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 9.31
+0.22 +2.42%
Volume: 281.30M
March 5, 2021 4:08p
P/E Ratio
9.09
Dividend Yield
6.98%
Market Cap
HK$415.67 billion
Rev. per Employee
HK$14.08M
loading...
/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 4.38
+0.05 +1.15%
Volume: 120.77M
March 5, 2021 4:08p
P/E Ratio
12.54
Dividend Yield
5.20%
Market Cap
HK$627.22 billion
Rev. per Employee
HK$7.49M
loading...
/zigman2/quotes/206127839/delayed
HK : Hong Kong
HK$ 31.45
-0.65 -2.02%
Volume: 23.00M
March 5, 2021 4:08p
P/E Ratio
4.79
Dividend Yield
4.26%
Market Cap
HK$146.67 billion
Rev. per Employee
HK$6.26M
loading...
/zigman2/quotes/210429626/delayed
HK : Hong Kong
HK$ 10.28
-0.44 -4.10%
Volume: 9.49M
March 5, 2021 4:08p
P/E Ratio
17.79
Dividend Yield
3.50%
Market Cap
HK$25.60 billion
Rev. per Employee
HK$13.17M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,501.99
-1.50 -0.04%
Volume: 35.64B
March 5, 2021 3:01p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
28,864.32
-65.79 -0.23%
Volume: 0.00
March 5, 2021 3:15p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.4050
+0.0250 +0.0231%
Volume: 0.0000
March 5, 2021 4:59p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,896.18
+11.44 +0.61%
Volume: 0.00
March 5, 2021 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,710.80
-49.90 -0.74%
Volume: 702,246
March 5, 2021 5:05p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,026.26
-17.23 -0.57%
Volume: 1.19M
March 5, 2021 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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