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May 17, 2019, 9:19 a.m. EDT

Stocks gain in Japan, but trade tensions weigh on Hong Kong, mainland China

Sony leaps on buyback news

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By Marketwatch and Associated Press


Bloomberg News
Kenichiro Yoshida, CEO of Sony Corp., speaks in January. Sony shares jumped Friday after the company announced share buybacks and a deal with Microsoft.

Asian markets were mostly lower Friday, with stocks in Hong Kong and mainland China retreating amid ongoing trade tensions with the U.S.

An executive order by the Trump administration, aimed at banning Huawei equipment from U.S. networks, took effect on Thursday. The order also subjects the Chinese telecommunications giant to strict export controls. China has threatened to retaliate. It remains to be seen how the move will affect trade negotiations.

On Thursday, China’s Commerce Ministry said it had no knowledge of a resumption in trade talks, according to the Wall Street Journal , contradicting U.S. Treasury Secretary Steve Mnuchin, who said Wednesday that negotiations were likely to resume in Beijing “in the near future.”

A spokesman for the Commerce Ministry said this week’s escalation of tariffs on Chinese goods has “severely hampered” negotiations, the Journal reported. Comments also reportedly showed up on a social media account linked to China’s state-run Economic Daily newspaper. The blog on Taoron Notes said: “If there is no real concrete action by the United States, it will be meaningless for you to come and talk,” in reference to Mnuchin’s plan.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.74%   closed down 1.1%, and the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.21%   slid 2.5%. Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.03%   rose 0.9%, but South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.76%   fell 0.7%. Taiwan’s Taiex  gave up 0.9%, and stocks declined in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.41%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.15%  . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.38%  advanced 0.6%.

Among individual stocks, Sony /zigman2/quotes/201361720/delayed JP:6758 +1.53%   surged in Tokyo trading after announcing it would buy back $1.83 billion of its own stock. Earlier in the day, Sony also announced a partnership with Microsoft /zigman2/quotes/207732364/composite MSFT -0.39%   for artificial intelligence and direct-to-consumer entertainment. SoftBank Group /zigman2/quotes/207303954/delayed JP:9984 +1.74%   and Honda /zigman2/quotes/200490352/delayed JP:7267 +1.25%   also rose. In Hong Kong, China Mobile /zigman2/quotes/200868736/delayed HK:941 +1.17%   gained while Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.61%   and food processor WH Group /zigman2/quotes/204247792/delayed HK:288 +2.92%   declined. Chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +2.29%   advanced in South Korea. In Australia, Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +6.87%   and Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.92%   rose.

Benchmark U.S. crude   gained 33 cents to $63.20 a barrel in electronic trading on the New York Mercantile Exchange. It picked up 85 cents to $62.87 per barrel on Thursday. Brent crude  , the international standard, added 5 cent to $72.67 per barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.2969%   fell to 109.62 Japanese yen from 109.85 yen late Thursday.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,728.50
+195.92 +0.74%
Volume: 2.83M
Dec. 3, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,442.14
-7.24 -0.21%
Volume: 29.85B
Dec. 3, 2020 3:01p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
26,809.37
+8.39 +0.03%
Volume: 0.00
Dec. 3, 2020 3:15p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,696.22
+20.32 +0.76%
Volume: 817,065
Dec. 3, 2020 4:30p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,822.34
+11.39 +0.41%
Volume: 0.00
Dec. 3, 2020 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,822.94
+8.96 +0.15%
Volume: 0.00
Dec. 3, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,615.30
+25.10 +0.38%
Volume: 699,399
Dec. 3, 2020 5:32p
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 9,765.00
+147.00 +1.53%
Volume: 4.86M
Dec. 3, 2020 3:00p
P/E Ratio
13.06
Dividend Yield
0.46%
Market Cap
¥12088.86 billion
Rev. per Employee
¥73.75M
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 215.37
-0.84 -0.39%
Volume: 23.72M
Dec. 2, 2020 4:00p
P/E Ratio
34.74
Dividend Yield
1.04%
Market Cap
$1634.65 billion
Rev. per Employee
$877,393
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 7,381.00
+126.00 +1.74%
Volume: 14.50M
Dec. 3, 2020 3:00p
P/E Ratio
33.72
Dividend Yield
0.00%
Market Cap
¥13719.03 billion
Rev. per Employee
¥76.45M
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,085.00
+38.00 +1.25%
Volume: 6.56M
Dec. 3, 2020 3:00p
P/E Ratio
21.72
Dividend Yield
2.20%
Market Cap
¥5006.41 billion
Rev. per Employee
¥68.28M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 47.40
+0.55 +1.17%
Volume: 25.23M
Dec. 3, 2020 4:08p
P/E Ratio
8.28
Dividend Yield
6.86%
Market Cap
HK$948.01 billion
Rev. per Employee
HK$1.85M
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 147.60
-0.90 -0.61%
Volume: 6.52M
Dec. 3, 2020 4:08p
P/E Ratio
33.85
Dividend Yield
0.55%
Market Cap
HK$166.30 billion
Rev. per Employee
HK$2.13M
loading...
/zigman2/quotes/204247792/delayed
HK : Hong Kong
HK$ 6.70
+0.19 +2.92%
Volume: 57.11M
Dec. 3, 2020 4:08p
P/E Ratio
10.47
Dividend Yield
4.70%
Market Cap
HK$94.49 billion
Rev. per Employee
HK$1.61M
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
111,500
+2,500 +2.29%
Volume: 6.62M
Dec. 3, 2020 4:30p
P/E Ratio
26.58
Dividend Yield
0.90%
Market Cap
₩68742.18 billion
Rev. per Employee
₩955.63M
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 112.20
+7.21 +6.87%
Volume: 3.15M
Dec. 3, 2020 4:10p
P/E Ratio
17.09
Dividend Yield
5.05%
Market Cap
$151.25 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.86
+0.04 +1.92%
Volume: 9.05M
Dec. 3, 2020 4:10p
P/E Ratio
8.46
Dividend Yield
1.08%
Market Cap
$4.04 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
104.1000
-0.3100 -0.2969%
Volume: 0.0000
Dec. 3, 2020 8:18a
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