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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 +0.27%  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 -1.30% , and a 0.9% move lower for online major Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 +2.87% .

Among financial stocks, top underperformers included China Merchants Bank Co. /zigman2/quotes/209899244/delayed HK:3968 +0.40% , down 1.5%, and Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 -0.20% , off 0.9%.

Casino stocks tumbled, as MGM China Holdings Ltd. /zigman2/quotes/203735819/delayed HK:2282 +0.72%  slid 3.2% and Galaxy Entertainment Group Ltd. /zigman2/quotes/202884203/delayed HK:27 +1.30%  lost 2.7%. Both Sands China Ltd. /zigman2/quotes/207609245/delayed HK:1928 +0.79%  and Melco Crown Entertainment Ltd.  dropped 2.5%, and Wynn Macau Ltd. /zigman2/quotes/200973447/delayed HK:1128 +0.24%  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 -0.93%  giving up 2%, offshore oil producer Cnooc Ltd. /zigman2/quotes/203421416/delayed HK:883 -1.53% moving down 1.3%, and China Petroleum & Chemical Corp. /zigman2/quotes/202085942/delayed HK:386 -0.73% , or Sinopec, trading 0.6% lower.

However, mainland Chinese real-estate developer Sunac China Holdings Ltd. /zigman2/quotes/206127839/delayed HK:1918 +3.03% 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 +1.39% 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 -0.60% 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 -3.34%  closed down 1.2%, with the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.5618% rising to ¥108.013, compared with ¥107.828 a day earlier. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 -3.33%  also finished 1.2% lower.

Elsewhere, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.60%  declined 0.8%, and South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +1.18%  settled 0.4% lower.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,893.23
+72.35 +0.27%
Volume: 1.92M
Feb. 25, 2020 4:37p
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/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 64.60
-0.85 -1.30%
Volume: 20.32M
Feb. 25, 2020 4:08p
P/E Ratio
10.64
Dividend Yield
4.52%
Market Cap
HK$1340.12 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 401.60
+11.20 +2.87%
Volume: 24.08M
Feb. 25, 2020 4:08p
P/E Ratio
39.15
Dividend Yield
0.25%
Market Cap
HK$3699.68 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/209899244/delayed
HK : Hong Kong
HK$ 37.35
+0.15 +0.40%
Volume: 11.36M
Feb. 25, 2020 4:08p
P/E Ratio
9.13
Dividend Yield
2.86%
Market Cap
HK$938.18 billion
Rev. per Employee
HK$3.67M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 5.08
-0.01 -0.20%
Volume: 26.30M
Feb. 25, 2020 4:08p
P/E Ratio
4.32
Dividend Yield
6.71%
Market Cap
HK$378.00 billion
Rev. per Employee
HK$5.47M
loading...
/zigman2/quotes/203735819/delayed
HK : Hong Kong
HK$ 11.16
+0.08 +0.72%
Volume: 4.29M
Feb. 25, 2020 4:08p
P/E Ratio
30.62
Dividend Yield
1.15%
Market Cap
HK$42.11 billion
Rev. per Employee
HK$1.08M
loading...
/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 54.60
+0.70 +1.30%
Volume: 6.56M
Feb. 25, 2020 4:08p
P/E Ratio
18.25
Dividend Yield
1.67%
Market Cap
HK$233.39 billion
Rev. per Employee
HK$1.44M
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
HK$ 38.40
+0.30 +0.79%
Volume: 10.41M
Feb. 25, 2020 4:08p
P/E Ratio
19.50
Dividend Yield
5.18%
Market Cap
HK$308.17 billion
Rev. per Employee
HK$1.41M
loading...
/zigman2/quotes/200973447/delayed
HK : Hong Kong
HK$ 16.72
+0.04 +0.24%
Volume: 7.92M
Feb. 25, 2020 4:08p
P/E Ratio
14.40
Dividend Yield
5.38%
Market Cap
HK$86.68 billion
Rev. per Employee
HK$3.23M
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 3.19
-0.03 -0.93%
Volume: 183.42M
Feb. 25, 2020 4:08p
P/E Ratio
12.24
Dividend Yield
4.94%
Market Cap
HK$589.33 billion
Rev. per Employee
HK$5.32M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 11.56
-0.18 -1.53%
Volume: 57.61M
Feb. 25, 2020 4:08p
P/E Ratio
7.82
Dividend Yield
6.31%
Market Cap
HK$524.16 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 4.09
-0.03 -0.73%
Volume: 110.67M
Feb. 25, 2020 4:08p
P/E Ratio
9.47
Dividend Yield
10.32%
Market Cap
HK$498.81 billion
Rev. per Employee
HK$7.40M
loading...
/zigman2/quotes/206127839/delayed
HK : Hong Kong
HK$ 42.45
+1.25 +3.03%
Volume: 25.42M
Feb. 25, 2020 4:08p
P/E Ratio
7.94
Dividend Yield
2.22%
Market Cap
HK$191.39 billion
Rev. per Employee
HK$6.26M
loading...
/zigman2/quotes/210429626/delayed
HK : Hong Kong
HK$ 10.20
+0.14 +1.39%
Volume: 7.27M
Feb. 25, 2020 4:08p
P/E Ratio
N/A
Dividend Yield
2.50%
Market Cap
HK$21.76 billion
Rev. per Employee
HK$13.17M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,013.05
-18.18 -0.60%
Volume: 44.16B
Feb. 25, 2020 3:01p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
22,605.41
-781.33 -3.34%
Volume: 0.00
Feb. 25, 2020 3:15p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
110.0960
-0.6220 -0.5618%
Volume: 0.0000
Feb. 25, 2020 11:16a
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,618.26
-55.74 -3.33%
Volume: 0.00
Feb. 25, 2020 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,866.60
-111.70 -1.60%
Volume: 1.04M
Feb. 25, 2020 5:32p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,103.61
+24.57 +1.18%
Volume: 1.57M
Feb. 25, 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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