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Nov. 19, 2019, 10:59 p.m. EST

Asian markets pull back after weak Japanese trade data

Nikkei, Hang Seng retreat; tensions set to rise as U.S. Senate backs Hong Kong human-rights resolution

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By Associated Press and Marketwatch


Reuters
A man in a bicycle drives past containers at an industrial port in Tokyo. Japan’s exports to the U.S. dipped 11% in October.

Shares retreated in Asia on Wednesday after Japan reported its worst monthly decline in exports in three years, putting pressure on the economy as growth slows following a sales tax hike.

Adding to regional jitters, the U.S. Senate passed a resolution overnight to support human rights in Hong Kong after months of increasingly violent protests.

Japan’s Nikkei 225 index /zigman2/quotes/210597971/delayed JP:NIK -2.53%   declined 0.8% after customs data showed the country’s exports falling 9.2% in October from a year earlier, with sharp declines in shipments to China, South Korea and the U.S.

The tariff war between China and the U.S. has stretched for over a year, hammering manufacturers and farmers on both sides and sapping demand for exporters in other Asian countries.

Japan’s exports to the U.S. dipped 11% in October, including autos and auto parts, marking the third straight month of declines. And imports from the U.S. fell 17%, the Finance Ministry said Wednesday.

Exports were also hit by trade tensions with South Korea, with relations between the two U.S. allies at their worst in decades over longstanding historic antagonisms and Japanese allegations that Seoul is not providing adequate protections for sensitive technologies. That prompted Tokyo to impose controls on exports of certain materials used to make computer chips, a critically important industry for South Korea.

The Senate on Tuesday easily approved the Hong Kong Human Rights and Democracy Act was passed by voice vote. It now goes to the House, which has already passed similar legislation.

That decision could foil efforts by President Donald Trump’s administration to forge a trade deal with Beijing, analysts say.

“Now that the ‘HK bill’ has passed by an overwhelming majority in the Senate, it will be difficult for the White House to hold out against this bipartisan pressure, which could to put another snag in the trade talk lines,” Stephen Innes of AxiTrader said in a commentary.

In Hong Kong, a small band of anti-government protesters, their numbers diminished by surrenders and failed escape attempts, were still holed up at a Hong Kong university early Wednesday as they braced for the endgame in a police siege of the campus.

Police were waiting the demonstrators out after 10 days of some of the most intense protests the city has seen in more than five months of often-violent unrest. Since the siege began Sunday, more than 1,000 people were arrested and hundreds of injured treated at hospitals, authorities said.

Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -2.67%   dropped 0.6% while the Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.56%  declined 0.4%.

Australia’s S&P ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.73%   fell 1.2% as energy and financial companies declined. Banks were hit by allegations by regulators that Westpac /zigman2/quotes/203084975/delayed AU:WBC -2.54%  , a bank, is suspected of violating anti-money laundering laws.

Shares also fell in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -1.61%  , South Korea /zigman2/quotes/210598069/delayed KR:180721 -1.47%   and Singapore /zigman2/quotes/210597985/delayed SG:STI -1.72%  .

Among individual stocks, shipper Mitsui OSK Lines /zigman2/quotes/204152844/delayed JP:9104 -0.92%   fell in Tokyo trading, along with SoftBank /zigman2/quotes/207303954/delayed JP:9984 -5.19%   and Toyota /zigman2/quotes/203803129/delayed JP:7203 -1.78%  . In Hong Kong, Wharf Real /zigman2/quotes/205885756/delayed HK:1997 -1.78%  , AIA Group /zigman2/quotes/203565558/delayed HK:1299 -3.31%   and oil producer CNOOC /zigman2/quotes/203421416/delayed HK:883 -2.14%   declined. Samsung /zigman2/quotes/209800866/delayed KR:005930 -1.90%   slid in South Korea, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -4.38%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -2.25%   dropped in Australia.

On Wall Street, shares were mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market.

A solid showing for technology sector stocks helped lift the Nasdaq composite to another all-time high, while the S&P 500 index finished less than 2 points below the record close it reached on Monday.

Energy sector stocks took the heaviest losses as the price of U.S. crude oil dropped 3.2%.

The S&P 500 index /zigman2/quotes/210599714/realtime SPX -2.27%   slipped less than 0.1% to 3,120.18 and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -2.53%   declined 0.4% to 27,934.02. The Nasdaq /zigman2/quotes/210598365/realtime COMP -2.23%   climbed 0.2% to 8,570.66.

Benchmark crude oil   picked up 11 cents to $55.46 per barrel in electronic trading on the New York Mercantile Exchange. It fell $1.84 to settle at $55.21 a barrel on Tuesday. Brent crude oil  , the international standard, was flat at $60.91 per barrel after dropping $1.53 overnight.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -1.7336%   fell to 108.51 Japanese yen from 108.54 yen on Tuesday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,751.62
-747.66 -2.53%
Volume: 0.00
Nov. 26, 2021 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,080.52
-659.64 -2.67%
Volume: 1.80M
Nov. 26, 2021 4:09p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,564.09
-20.09 -0.56%
Volume: 30.10B
Nov. 26, 2021 3:01p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,279.30
-128.00 -1.73%
Volume: 577,169
Nov. 26, 2021 5:17p
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/zigman2/quotes/203084975/delayed
AU : Australia: Sydney
$ 21.08
-0.55 -2.54%
Volume: 12.60M
Nov. 26, 2021 4:10p
P/E Ratio
15.10
Dividend Yield
5.60%
Market Cap
$77.24 billion
Rev. per Employee
$668,361
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
17,369.39
-284.80 -1.61%
Volume: 0.00
Nov. 26, 2021 1:33p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,936.44
-43.83 -1.47%
Volume: 595,597
Nov. 26, 2021 3:30p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,166.27
-55.25 -1.72%
Volume: 0.00
Nov. 26, 2021 5:20p
loading...
/zigman2/quotes/204152844/delayed
JP : Japan: Tokyo
¥ 6,490.00
-60.00 -0.92%
Volume: 2.36M
Nov. 26, 2021 3:00p
P/E Ratio
2.33
Dividend Yield
12.33%
Market Cap
¥778.53 billion
Rev. per Employee
¥115.67M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,336.00
-347.00 -5.19%
Volume: 21.74M
Nov. 26, 2021 3:00p
P/E Ratio
3.80
Dividend Yield
0.00%
Market Cap
¥10854.28 billion
Rev. per Employee
¥202.77M
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 2,074.50
-37.50 -1.78%
Volume: 22.43M
Nov. 26, 2021 3:00p
P/E Ratio
9.29
Dividend Yield
2.31%
Market Cap
¥28733.44 billion
Rev. per Employee
¥74.30M
loading...
/zigman2/quotes/205885756/delayed
HK : Hong Kong
$ 41.35
-0.75 -1.78%
Volume: 3.13M
Nov. 26, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
3.29%
Market Cap
$125.55 billion
Rev. per Employee
$5.75M
loading...
/zigman2/quotes/203565558/delayed
HK : Hong Kong
$ 84.60
-2.90 -3.31%
Volume: 20.67M
Nov. 26, 2021 4:08p
P/E Ratio
19.31
Dividend Yield
1.63%
Market Cap
$1020.79 billion
Rev. per Employee
$14.37M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
$ 7.78
-0.17 -2.14%
Volume: 84.90M
Nov. 26, 2021 4:08p
P/E Ratio
6.13
Dividend Yield
7.07%
Market Cap
$347.36 billion
Rev. per Employee
$9.51M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
72,300.00
-1,400 -1.90%
Volume: 13.00M
Nov. 26, 2021 3:30p
P/E Ratio
14.01
Dividend Yield
2.00%
Market Cap
₩486501.87 billion
Rev. per Employee
₩2.16B
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.20
-0.06 -4.38%
Volume: 9.55M
Nov. 26, 2021 4:10p
P/E Ratio
8.65
Dividend Yield
1.67%
Market Cap
$2.73 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 94.46
-2.17 -2.25%
Volume: 1.38M
Nov. 26, 2021 4:10p
P/E Ratio
6.18
Dividend Yield
13.52%
Market Cap
$141.06 billion
Rev. per Employee
$1.36M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,594.62
-106.84 -2.27%
Volume: 2.10B
Nov. 26, 2021 2:12p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,899.34
-905.04 -2.53%
Volume: 325.39M
Nov. 26, 2021 2:12p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
15,491.66
-353.57 -2.23%
Volume: 3.05M
Nov. 26, 2021 4:14p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
113.3690
-2.0000 -1.7336%
Volume: 0.0000
Nov. 26, 2021 4:59p
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