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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 -0.01%  rose 0.7%, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.08%  climbed 0.4% and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.34%  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 +0.33%  edged up 0.1% after a choppy session, while South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.33% 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 -2.33%   /zigman2/quotes/205321671/delayed CCOZY -4.37%  soaring 10.3% and China Shenhua Energy Co. /zigman2/quotes/206065610/delayed HK:1088 +1.06% /zigman2/quotes/206839995/delayed CSUAY +1.23%  climbing 6.1%.

Kunlun Energy Co. /zigman2/quotes/207929595/delayed HK:135 -0.73%   /zigman2/quotes/209475075/delayed KLYCY +10.34%  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 +1.86%  rose 0.3% and Datong Coal Industry Co. /zigman2/quotes/204544316/delayed CN:601001 +1.68%  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 +1.45% /zigman2/quotes/203392529/delayed MIMTF 0.00% climbed 9.6% after its results Thursday.

Adding to the gains, Softbank Corp. /zigman2/quotes/207303954/delayed JP:9984 +1.20% /zigman2/quotes/202815238/delayed SFTBF +0.96%  gained 1.1%, and Trend Micro Inc. /zigman2/quotes/206023532/delayed JP:4704 -1.54% /zigman2/quotes/205788499/delayed TMICY -3.79%  added 2.2% to recover some recent losses.

On the downside, Nikon Corp. /zigman2/quotes/203281219/delayed JP:7731 -1.22%   /zigman2/quotes/209396469/delayed NINOY -1.84% plunged 14.3% after its weak fiscal first-quarter results.

In Sydney, diversified miner BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP +1.85% /zigman2/quotes/208108397/composite BHP +1.44%  gained 1.8%, and rival Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO +1.70% /zigman2/quotes/202627887/composite RIO +1.25%  added 1.3%, while gold company Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM -2.51%   /zigman2/quotes/206026738/delayed NCMGF +0.05%  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 -0.04% /zigman2/quotes/203732563/delayed ANZBY -0.53%  losing 0.5%, and Wesfarmers Ltd. /zigman2/quotes/204567133/delayed AU:WES -0.20% /zigman2/quotes/201861689/delayed WFAFY -0.57% shedding 0.6%.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,494.73
-3.64 -0.01%
Volume: 1.30M
Dec. 9, 2019 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,914.48
+2.46 +0.08%
Volume: 16.08B
Dec. 9, 2019 3:01p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,730.00
+23.00 +0.34%
Volume: 505,303
Dec. 9, 2019 4:52p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
23,430.70
+76.30 +0.33%
Volume: 0.00
Dec. 9, 2019 3:15p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,088.65
+6.80 +0.33%
Volume: 393,126
Dec. 9, 2019 6:01p
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/zigman2/quotes/201486584/delayed
HK : Hong Kong
HK$ 2.94
-0.07 -2.33%
Volume: 13.28M
Dec. 9, 2019 4:08p
P/E Ratio
6.73
Dividend Yield
3.02%
Market Cap
HK$39.91 billion
Rev. per Employee
HK$2.78M
loading...
/zigman2/quotes/205321671/delayed
US : U.S.: OTC
$ 7.88
-0.36 -4.37%
Volume: 0.00
Dec. 3, 2019 1:27p
P/E Ratio
7.07
Dividend Yield
2.30%
Market Cap
$1.58 billion
Rev. per Employee
$354,816
loading...
/zigman2/quotes/206065610/delayed
HK : Hong Kong
HK$ 15.26
+0.16 +1.06%
Volume: 11.99M
Dec. 9, 2019 4:08p
P/E Ratio
6.16
Dividend Yield
6.75%
Market Cap
HK$300.33 billion
Rev. per Employee
HK$3.46M
loading...
/zigman2/quotes/206839995/delayed
US : U.S.: OTC
$ 7.74
+0.09 +1.23%
Volume: 21,646
Dec. 9, 2019 11:02a
P/E Ratio
5.76
Dividend Yield
5.46%
Market Cap
$6.56 billion
Rev. per Employee
$448,167
loading...
/zigman2/quotes/207929595/delayed
HK : Hong Kong
HK$ 6.83
-0.05 -0.73%
Volume: 14.77M
Dec. 9, 2019 4:08p
P/E Ratio
10.76
Dividend Yield
3.77%
Market Cap
HK$59.57 billion
Rev. per Employee
HK$2.99M
loading...
/zigman2/quotes/209475075/delayed
US : U.S.: OTC
$ 9.50
+0.89 +10.34%
Volume: 0.00
Dec. 4, 2019 5:19p
P/E Ratio
11.73
Dividend Yield
3.05%
Market Cap
$7.61 billion
Rev. per Employee
$381,003
loading...
/zigman2/quotes/202621923/delayed
CN : China: Shanghai
¥ 17.49
+0.32 +1.86%
Volume: 49.93M
Dec. 9, 2019 3:00p
P/E Ratio
7.64
Dividend Yield
5.03%
Market Cap
¥341.50 billion
Rev. per Employee
¥2.92M
loading...
/zigman2/quotes/204544316/delayed
CN : China: Shanghai
¥ 4.24
+0.07 +1.68%
Volume: 9.21M
Dec. 9, 2019 3:00p
P/E Ratio
10.45
Dividend Yield
N/A
Market Cap
¥6.98 billion
Rev. per Employee
¥1.56M
loading...
/zigman2/quotes/201126350/delayed
JP : Japan: Tokyo
¥ 3,015.00
+43.00 +1.45%
Volume: 432,500
Dec. 9, 2019 3:00p
P/E Ratio
N/A
Dividend Yield
2.65%
Market Cap
¥389.17 billion
Rev. per Employee
¥63.99M
loading...
/zigman2/quotes/203392529/delayed
US : U.S.: OTC
$ 27.20
0.00 0.00%
Volume: 0.00
Dec. 3, 2019 5:19p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
$579,792
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 4,308.00
+51.00 +1.20%
Volume: 11.94M
Dec. 9, 2019 3:00p
P/E Ratio
9.74
Dividend Yield
1.02%
Market Cap
¥8817.26 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/202815238/delayed
US : U.S.: OTC
$ 40.00
+0.38 +0.96%
Volume: 3,392
Dec. 9, 2019 11:00a
P/E Ratio
10.31
Dividend Yield
N/A
Market Cap
$82.06 billion
Rev. per Employee
$1.15M
loading...
/zigman2/quotes/206023532/delayed
JP : Japan: Tokyo
¥ 5,740.00
-90.00 -1.54%
Volume: 877,500
Dec. 9, 2019 3:00p
P/E Ratio
27.07
Dividend Yield
2.87%
Market Cap
¥810.65 billion
Rev. per Employee
¥26.87M
loading...
/zigman2/quotes/205788499/delayed
US : U.S.: OTC
$ 52.77
-2.08 -3.79%
Volume: 314.00
Dec. 9, 2019 10:04a
P/E Ratio
27.34
Dividend Yield
2.47%
Market Cap
$7.46 billion
Rev. per Employee
$243,287
loading...
/zigman2/quotes/203281219/delayed
JP : Japan: Tokyo
¥ 1,454.00
-18.00 -1.22%
Volume: 2.08M
Dec. 9, 2019 3:00p
P/E Ratio
9.60
Dividend Yield
4.13%
Market Cap
¥573.49 billion
Rev. per Employee
¥34.15M
loading...
/zigman2/quotes/209396469/delayed
US : U.S.: OTC
$ 13.36
-0.25 -1.84%
Volume: 172.00
Dec. 9, 2019 10:56a
P/E Ratio
9.75
Dividend Yield
2.94%
Market Cap
$5.28 billion
Rev. per Employee
$309,299
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.05
+0.69 +1.85%
Volume: 4.38M
Dec. 9, 2019 4:10p
P/E Ratio
16.01
Dividend Yield
5.04%
Market Cap
$188.92 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 52.50
+0.74 +1.44%
Volume: 451,323
Dec. 9, 2019 11:21a
P/E Ratio
15.44
Dividend Yield
5.07%
Market Cap
$76.19 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 97.42
+1.63 +1.70%
Volume: 1.16M
Dec. 9, 2019 4:10p
P/E Ratio
8.88
Dividend Yield
9.21%
Market Cap
$155.54 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 56.06
+0.69 +1.25%
Volume: 518,093
Dec. 9, 2019 11:21a
P/E Ratio
7.12
Dividend Yield
5.90%
Market Cap
$69.75 billion
Rev. per Employee
$852,406
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/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 28.77
-0.74 -2.51%
Volume: 2.65M
Dec. 9, 2019 4:10p
P/E Ratio
28.21
Dividend Yield
1.11%
Market Cap
$22.63 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206026738/delayed
US : U.S.: OTC
$ 19.51
+0.01 +0.05%
Volume: 50.00
Dec. 6, 2019 1:29p
P/E Ratio
26.81
Dividend Yield
N/A
Market Cap
$14.96 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 24.58
-0.01 -0.04%
Volume: 3.93M
Dec. 9, 2019 4:10p
P/E Ratio
12.22
Dividend Yield
6.51%
Market Cap
$69.70 billion
Rev. per Employee
$908,476
loading...
/zigman2/quotes/203732563/delayed
US : U.S.: OTC
$ 16.78
-0.09 -0.53%
Volume: 35,379
Dec. 9, 2019 10:56a
P/E Ratio
11.84
Dividend Yield
6.51%
Market Cap
$47.61 billion
Rev. per Employee
$690,358
loading...
/zigman2/quotes/204567133/delayed
AU : Australia: Sydney
$ 40.83
-0.08 -0.20%
Volume: 984,146
Dec. 9, 2019 4:10p
P/E Ratio
19.63
Dividend Yield
4.36%
Market Cap
$46.39 billion
Rev. per Employee
$208,410
loading...
/zigman2/quotes/201861689/delayed
US : U.S.: OTC
$ 13.94
-0.08 -0.57%
Volume: 3,276
Dec. 9, 2019 10:56a
P/E Ratio
18.68
Dividend Yield
3.85%
Market Cap
$31.68 billion
Rev. per Employee
$157,570
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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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