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Aug. 9, 2013, 5:04 a.m. EDT

Hong Kong, Shanghai stocks up after China data

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Chinese stocks climbed Friday after data showing consumer prices in the country rose at a slower-than-expected rate in July, while Japanese shares inched up on buying in some beaten-down issues.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.25%  rose 0.7%, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -1.12%  climbed 0.4% and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.37%  pared early losses to end 0.2% lower.


Shutterstock Enlarge Image
Chinese inflation data helps support gains on Hong Kong’s stock market.

Official data released Friday showed July consumer prices in China rose 2.7%, matching the rate in June but slightly weaker than expectations. Producer prices dropped 2.3%, after witnessing a 2.7% slide in June. July industrial production accelerated to grow 9.7% from a year-earlier, compared with 8.9% in June.

“After all the conjecture over the past month, the latest batch of Chinese economic data was mildly ahead of economist forecasts,” said Savanth Sebastian, an economist at CommSec.

“The good news is that the latest readings don’t suggest that a hard landing is on the cards. ... If more stimulus is required, the central bank is well placed to wade in with additional liquidity, with inflation well contained,” he added.

Meanwhile, Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.49%  edged up 0.1% after a choppy session, while South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.98% slid 0.2%.

Most of the major regional markets ended the week deep in the red. Japan’s Nikkei tumbled 5.9% during the week, while the Australian and Hong Kong benchmarks lost between 1% and 2%. China’s Shanghai Composite defied the trend, gaining 1.1% during the week.

Major movers

Coal miners jumped in Hong Kong amid expectations for rising prices, with China Coal Energy Co. /zigman2/quotes/201486584/delayed HK:1898 -3.47%   /zigman2/quotes/205321671/delayed CCOZY -8.47%  soaring 10.3% and China Shenhua Energy Co. /zigman2/quotes/206065610/delayed HK:1088 -2.97% /zigman2/quotes/206839995/delayed CSUAY +2.86%  climbing 6.1%.

Kunlun Energy Co. /zigman2/quotes/207929595/delayed HK:135 -2.36%   /zigman2/quotes/209475075/delayed KLYCY -5.51%  added 3.6%, helped by Citigroup’s upgrade of the stock’s rating to buy.

In Shanghai, China Shenhua Energy Co. /zigman2/quotes/202621923/delayed CN:601088 -0.69%  rose 0.3% and Datong Coal Industry Co. /zigman2/quotes/204544316/delayed CN:601001 -2.11%  added 1.4%.

Click to Play

Has the worst of China's cash crunch passed?

Stocks in Hong Kong and Australia applaud signs that China's central bank is working to end a cash squeeze in the country.

In Tokyo on Friday, shares of Mitsubishi Material Corp. /zigman2/quotes/201126350/delayed JP:5711 -1.96% /zigman2/quotes/203392529/delayed MIMTF -1.02% climbed 9.6% after its results Thursday.

Adding to the gains, Softbank Corp. /zigman2/quotes/207303954/delayed JP:9984 -0.92% /zigman2/quotes/202815238/delayed SFTBF -2.23%  gained 1.1%, and Trend Micro Inc. /zigman2/quotes/206023532/delayed JP:4704 +0.14% /zigman2/quotes/205788499/delayed TMICY +1.61%  added 2.2% to recover some recent losses.

On the downside, Nikon Corp. /zigman2/quotes/203281219/delayed JP:7731 -0.07%   /zigman2/quotes/209396469/delayed NINOY -1.08% plunged 14.3% after its weak fiscal first-quarter results.

In Sydney, diversified miner BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP -0.90% /zigman2/quotes/208108397/composite BHP -0.60%  gained 1.8%, and rival Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -1.41% /zigman2/quotes/202627887/composite RIO -0.62%  added 1.3%, while gold company Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM -1.80%   /zigman2/quotes/206026738/delayed NCMGF +0.98%  leapt 2.3%.

But losses in the financial and retail sectors weighed on the market, with Australia & New Zealand Banking Group /zigman2/quotes/205482049/delayed AU:ANZ -0.24% /zigman2/quotes/203732563/delayed ANZBY +0.36%  losing 0.5%, and Wesfarmers Ltd. /zigman2/quotes/204567133/delayed AU:WES -1.22% /zigman2/quotes/201861689/delayed WFAFY +1.70% shedding 0.6%.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
17,178.35
-395.23 -2.25%
Volume: 1.69M
Nov. 28, 2022 1:05p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,067.05
-34.65 -1.12%
Volume: 21.00B
Nov. 28, 2022 1:05p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,232.80
-26.70 -0.37%
Volume: 530,388
Nov. 28, 2022 4:00p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
28,144.04
-138.99 -0.49%
Volume: 0.00
Nov. 28, 2022 2:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,413.85
-24.01 -0.98%
Volume: 264,120
Nov. 28, 2022 2:00p
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/zigman2/quotes/201486584/delayed
HK : Hong Kong
$ 6.68
-0.24 -3.47%
Volume: 8.46M
Nov. 28, 2022 1:05p
P/E Ratio
3.54
Dividend Yield
5.28%
Market Cap
$122.82 billion
Rev. per Employee
$6.66M
loading...
/zigman2/quotes/205321671/delayed
US : U.S.: OTC
$ 16.10
-1.49 -8.47%
Volume: 0.00
Oct. 24, 2022 11:21a
P/E Ratio
3.38
Dividend Yield
4.71%
Market Cap
$15.26 billion
Rev. per Employee
$797,091
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/zigman2/quotes/206065610/delayed
HK : Hong Kong
$ 22.90
-0.70 -2.97%
Volume: 14.15M
Nov. 28, 2022 1:05p
P/E Ratio
5.65
Dividend Yield
13.65%
Market Cap
$624.41 billion
Rev. per Employee
$5.30M
loading...
/zigman2/quotes/206839995/delayed
US : U.S.: OTC
$ 11.88
+0.33 +2.86%
Volume: 19,172
Nov. 25, 2022 12:59p
P/E Ratio
5.77
Dividend Yield
11.65%
Market Cap
$79.87 billion
Rev. per Employee
$677,189
loading...
/zigman2/quotes/207929595/delayed
HK : Hong Kong
$ 5.37
-0.13 -2.36%
Volume: 4.76M
Nov. 28, 2022 1:05p
P/E Ratio
6.83
Dividend Yield
4.70%
Market Cap
$47.62 billion
Rev. per Employee
$5.93M
loading...
/zigman2/quotes/209475075/delayed
US : U.S.: OTC
$ 6.64
-0.39 -5.51%
Volume: 0.00
Nov. 23, 2022 11:30a
P/E Ratio
6.59
Dividend Yield
4.26%
Market Cap
$5.90 billion
Rev. per Employee
$759,802
loading...
/zigman2/quotes/202621923/delayed
CN : China: Shanghai
¥ 30.05
-0.21 -0.69%
Volume: 21.45M
Nov. 28, 2022 1:05p
P/E Ratio
9.02
Dividend Yield
8.45%
Market Cap
¥572.04 billion
Rev. per Employee
¥4.34M
loading...
/zigman2/quotes/204544316/delayed
CN : China: Shanghai
¥ 12.99
-0.28 -2.11%
Volume: 22.77M
Nov. 28, 2022 1:05p
P/E Ratio
3.99
Dividend Yield
3.08%
Market Cap
¥22.21 billion
Rev. per Employee
¥3.29M
loading...
/zigman2/quotes/201126350/delayed
JP : Japan: Tokyo
¥ 2,153.00
-43.00 -1.96%
Volume: 307,800
Nov. 28, 2022 2:00p
P/E Ratio
9.24
Dividend Yield
2.32%
Market Cap
¥286.90 billion
Rev. per Employee
¥75.23M
loading...
/zigman2/quotes/203392529/delayed
US : U.S.: OTC
$ 14.50
-0.15 -1.02%
Volume: 0.00
Sept. 2, 2022 8:49a
P/E Ratio
7.72
Dividend Yield
N/A
Market Cap
$1.87 billion
Rev. per Employee
$610,926
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,023.00
-56.00 -0.92%
Volume: 7.93M
Nov. 28, 2022 2:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥9595.38 billion
Rev. per Employee
¥121.97M
loading...
/zigman2/quotes/202815238/delayed
US : U.S.: OTC
$ 41.91
-0.96 -2.23%
Volume: 51.00
Nov. 22, 2022 11:25a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$68.54 billion
Rev. per Employee
$993,721
loading...
/zigman2/quotes/206023532/delayed
JP : Japan: Tokyo
¥ 7,150.00
+10.00 +0.14%
Volume: 192,900
Nov. 28, 2022 1:59p
P/E Ratio
24.28
Dividend Yield
2.73%
Market Cap
¥997.23 billion
Rev. per Employee
¥30.36M
loading...
/zigman2/quotes/205788499/delayed
US : U.S.: OTC
$ 51.72
+0.82 +1.61%
Volume: 342.00
Nov. 23, 2022 3:16p
P/E Ratio
21.77
Dividend Yield
2.73%
Market Cap
$7.16 billion
Rev. per Employee
$244,421
loading...
/zigman2/quotes/203281219/delayed
JP : Japan: Tokyo
¥ 1,343.00
-1.00 -0.07%
Volume: 1.64M
Nov. 28, 2022 2:00p
P/E Ratio
14.08
Dividend Yield
2.98%
Market Cap
¥479.71 billion
Rev. per Employee
¥30.10M
loading...
/zigman2/quotes/209396469/delayed
US : U.S.: OTC
$ 9.63
-0.11 -1.08%
Volume: 1,676
Nov. 25, 2022 12:45p
P/E Ratio
12.47
Dividend Yield
2.19%
Market Cap
$3.44 billion
Rev. per Employee
$242,507
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 43.80
-0.40 -0.90%
Volume: 5.52M
Nov. 28, 2022 3:59p
P/E Ratio
7.07
Dividend Yield
10.58%
Market Cap
$223.87 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 59.68
-0.36 -0.60%
Volume: 1.28M
Nov. 25, 2022 1:10p
P/E Ratio
6.62
Dividend Yield
10.87%
Market Cap
$151.08 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 104.16
-1.49 -1.41%
Volume: 1.07M
Nov. 28, 2022 3:59p
P/E Ratio
6.96
Dividend Yield
10.05%
Market Cap
$159.56 billion
Rev. per Employee
$1.68M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 65.73
-0.41 -0.62%
Volume: 1.08M
Nov. 25, 2022 1:10p
P/E Ratio
6.03
Dividend Yield
10.39%
Market Cap
$107.68 billion
Rev. per Employee
$1.23M
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 19.64
-0.36 -1.80%
Volume: 1.95M
Nov. 28, 2022 3:59p
P/E Ratio
13.77
Dividend Yield
2.02%
Market Cap
$17.82 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206026738/delayed
US : U.S.: OTC
$ 13.42
+0.13 +0.98%
Volume: 25,358
Nov. 25, 2022 12:59p
P/E Ratio
13.01
Dividend Yield
2.05%
Market Cap
$12.03 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 24.76
-0.06 -0.24%
Volume: 2.40M
Nov. 28, 2022 3:59p
P/E Ratio
10.66
Dividend Yield
5.90%
Market Cap
$74.13 billion
Rev. per Employee
$738,953
loading...
/zigman2/quotes/203732563/delayed
US : U.S.: OTC
$ 16.72
+0.06 +0.36%
Volume: 15,869
Nov. 25, 2022 12:48p
P/E Ratio
10.11
Dividend Yield
5.65%
Market Cap
$50.03 billion
Rev. per Employee
$525,909
loading...
/zigman2/quotes/204567133/delayed
AU : Australia: Sydney
$ 48.56
-0.60 -1.22%
Volume: 1.06M
Nov. 28, 2022 3:59p
P/E Ratio
23.39
Dividend Yield
3.71%
Market Cap
$55.77 billion
Rev. per Employee
$305,658
loading...
/zigman2/quotes/201861689/delayed
US : U.S.: OTC
$ 16.72
+0.28 +1.70%
Volume: 7,148
Nov. 25, 2022 12:49p
P/E Ratio
22.21
Dividend Yield
7.22%
Market Cap
$37.64 billion
Rev. per Employee
$221,661
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Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Follow him on Twitter @MktwKumar.

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