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Jan. 2, 2015, 4:17 a.m. EST

Hong Kong stocks start new year strong

Australia and South Korea markets also end higher

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By Laura He, MarketWatch


Shutterstock/Chungking
Hong Kong stocks closed higher on the first trading day of 2015, while other Asian markets also rose.

HONG KONG (MarketWatch) — Hong Kong stocks closed higher on Friday, the first trading day of 2015, as mainland Chinese property shares rallied amid expectations that China might loosen monetary policy further in the new year to boost growth.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.49%  advanced 1.1%, with the Hang Seng China Enterprises /zigman2/quotes/210598031/delayed CN:160462 -0.35%  , which tracks Hong Kong-listed mainland companies, higher by 2.2%. The gains came despite the release of official data showing further weakness in China’s manufacturing sector.

A day earlier, the government-sponsored version of China’s Purchasing Managers Index slipped to 50.1 in December from 50.3 in November, marking the third straight month of decline.

In the markets, mainland real-estate stocks posted broad-based advances, as analysts said they expect the central bank to continue to inject liquidity into the economy into the new year.

Poly Property Group Co. Ltd. /zigman2/quotes/209766147/delayed HK:119 +5.52%  soared 18.8%, China Vanke Co., Ltd. /zigman2/quotes/203851375/delayed HK:2202 +6.76%   surged 10.6% and Shimao Property Holdings Ltd. /zigman2/quotes/208719072/delayed HK:813 -2.21%   was up 9%. China Overseas Land & Investment Ltd. /zigman2/quotes/205731176/delayed HK:688 +2.60%   leapt 8.5%, and China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 +2.09%   cracked 7.1% higher.

However, casino shares fell across the board, as Macau’s gambling revenues dropped 30.4% year-on-year in December. Wynn Macau Ltd. /zigman2/quotes/200973447/delayed HK:1128 -2.68%   was down 3.7%, Melco Crown Entertainment Ltd. declined 2.7%, and SJM Holdings Ltd. /zigman2/quotes/203488207/delayed HK:880 -3.66%  lost 2.6%.

In other Asian markets, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.24%  finished up 0.5%, and South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 -0.14%  settled 0.6% higher.

Japan and Shanghai markets were closed on Friday for the extended New Year’s Day holiday.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
17,573.58
-87.32 -0.49%
Volume: 3.18M
Nov. 25, 2022 4:08p
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/zigman2/quotes/210598031/delayed
CN : Hong Kong Exchange
5,971.10
-21.25 -0.35%
Volume: 0.00
Nov. 25, 2022 4:08p
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/zigman2/quotes/209766147/delayed
HK : Hong Kong
$ 1.72
+0.09 +5.52%
Volume: 15.07M
Nov. 25, 2022 4:08p
P/E Ratio
2.74
Dividend Yield
7.85%
Market Cap
$6.57 billion
Rev. per Employee
$4.61M
loading...
/zigman2/quotes/203851375/delayed
HK : Hong Kong
$ 14.84
+0.94 +6.76%
Volume: 38.98M
Nov. 25, 2022 4:08p
P/E Ratio
6.31
Dividend Yield
7.70%
Market Cap
$212.13 billion
Rev. per Employee
$4.50M
loading...
/zigman2/quotes/208719072/delayed
HK : Hong Kong
$ 4.42
-0.10 -2.21%
Volume: 0.00
March 31, 2022 4:08p
P/E Ratio
0.98
Dividend Yield
36.20%
Market Cap
$16.76 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205731176/delayed
HK : Hong Kong
$ 20.50
+0.52 +2.60%
Volume: 30.47M
Nov. 25, 2022 4:08p
P/E Ratio
5.15
Dividend Yield
5.66%
Market Cap
$224.37 billion
Rev. per Employee
$51.24M
loading...
/zigman2/quotes/202417326/delayed
HK : Hong Kong
$ 34.25
+0.70 +2.09%
Volume: 10.24M
Nov. 25, 2022 4:08p
P/E Ratio
6.76
Dividend Yield
4.94%
Market Cap
$244.23 billion
Rev. per Employee
$5.19M
loading...
/zigman2/quotes/200973447/delayed
HK : Hong Kong
$ 4.36
-0.12 -2.68%
Volume: 4.94M
Nov. 25, 2022 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$22.83 billion
Rev. per Employee
$399,832
loading...
/zigman2/quotes/203488207/delayed
HK : Hong Kong
$ 3.16
-0.12 -3.66%
Volume: 10.89M
Nov. 25, 2022 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$22.44 billion
Rev. per Employee
$263,118
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,259.50
+17.70 +0.24%
Volume: 552,057
Nov. 25, 2022 4:55p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,437.86
-3.47 -0.14%
Volume: 438,394
Nov. 25, 2022 3:30p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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