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July 25, 2018, 6:29 a.m. EDT

Japan, Hong Kong lead Asian market gains

A midsession rally for Shanghai, Shenzhen fades by the close

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By Dow Jones Newswire


Bloomberg News
Employees work at the Tokyo Stock Exchange on Tuesday.

Asian stock markets were mostly higher in early trading Wednesday. The gains followed solid advances in Europe overnight as well as for the Dow and S&P. But S&P 500 futures   were down 0.2% in Asia, perhaps signaling things may not be bright again in the U.S. for Wednesday’s trading.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -3.67%   edged up 0.4%, as steel makers JFE Holdings /zigman2/quotes/204336633/delayed JP:5411 -3.19%   and Nisshin Steel   rallied. While most automakers gained, Mitsubishi Motors /zigman2/quotes/202404490/delayed JP:7211 -4.52%   sank despite beating earnings expectations Tuesday.

After falling early, Chinese stocks rallied, but then ended in the red. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -2.75%  closed down less than 0.1% after notching its best three-day streak in more than two years. The Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -3.47%   was also down less than 0.1% after spending time higher and lower on the day. Bank and infrastructure stocks, Tuesday’s big gainers, remained active, while Facebook-related plays logged gains as the company announced a China unit.

Meanwhile, vaccine maker Kangtai /zigman2/quotes/209720830/delayed CN:300601 -2.65%  was down 9%, and shares in medical peer Changsheng   were halted after seven straight days of steep losses amid the a rabies vaccine scandal.

Hong Kong stocks continued their run of strong gains, as the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -2.67%   climbed 0.9%. Financials were again solid, with China Construction Bank /zigman2/quotes/208974133/delayed HK:939 -2.02%   rising 0.7%. Elsewhere, Tencent /zigman2/quotes/204605823/delayed HK:700 -3.06%   was up 1.2% and Sinopec /zigman2/quotes/202085942/delayed HK:386 -2.20%   jumped 2.1%.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -3.46%   dipped slightly, as did indexes in Taiwan   and Australia /zigman2/quotes/210598100/delayed AU:XJO -3.25%  , while indexes in Singapore /zigman2/quotes/210597985/delayed SG:STI -3.02%   and New Zealand /zigman2/quotes/211587880/delayed NZ:NZ50GR -1.54%   posted modest gains.

/zigman2/quotes/210597971/delayed
JP : Nikkei
21,142.96
-805.27 -3.67%
Volume: 0.00
Feb. 28, 2020 3:00p
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/zigman2/quotes/204336633/delayed
JP : Japan: Tokyo
¥ 1,002.00
-33.00 -3.19%
Volume: 6.99M
Feb. 28, 2020 3:00p
P/E Ratio
8.55
Dividend Yield
2.00%
Market Cap
¥596.01 billion
Rev. per Employee
¥64.46M
loading...
/zigman2/quotes/202404490/delayed
JP : Japan: Tokyo
¥ 359.00
-17.00 -4.52%
Volume: 10.14M
Feb. 28, 2020 3:00p
P/E Ratio
10.30
Dividend Yield
5.57%
Market Cap
¥571.51 billion
Rev. per Employee
¥80.91M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,909.18
-82.14 -2.75%
Volume: 32.54B
Feb. 28, 2020 2:15p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,829.30
-65.84 -3.47%
Volume: 50.16B
Feb. 28, 2020 2:15p
loading...
/zigman2/quotes/209720830/delayed
CN : China: Shenzhen
¥ 112.50
-3.06 -2.65%
Volume: 4.63M
Feb. 28, 2020 2:15p
P/E Ratio
147.21
Dividend Yield
0.22%
Market Cap
¥72.43 billion
Rev. per Employee
¥1.86M
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,064.95
-713.67 -2.67%
Volume: 1.73M
Feb. 28, 2020 2:15p
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/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.31
-0.13 -2.02%
Volume: 339.39M
Feb. 28, 2020 2:15p
P/E Ratio
5.29
Dividend Yield
5.53%
Market Cap
HK$1610.07 billion
Rev. per Employee
HK$3.31M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 387.00
-12.20 -3.06%
Volume: 18.85M
Feb. 28, 2020 2:15p
P/E Ratio
37.72
Dividend Yield
0.26%
Market Cap
HK$3783.08 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 4.01
-0.09 -2.20%
Volume: 102.74M
Feb. 28, 2020 2:15p
P/E Ratio
9.28
Dividend Yield
10.53%
Market Cap
HK$490.34 billion
Rev. per Employee
HK$7.40M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,983.86
-71.03 -3.46%
Volume: 591,729
Feb. 28, 2020 3:10p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,441.20
-216.70 -3.25%
Volume: 1.51M
Feb. 28, 2020 5:05p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,017.72
-93.98 -3.02%
Volume: 0.00
Feb. 28, 2020 2:15p
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
11,261.16
-176.01 -1.54%
Volume: 0.00
Feb. 28, 2020 5:00p
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