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Aug. 15, 2018, 7:18 a.m. EDT

Asian markets retreat, weighed by sinking tech stocks

Indexes in China, Hong Kong down 1% or more; Nikkei pulls back as yen weakens

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By Dow Jones Newswire


Reuters
Tencent shares fell ahead of earnings Wednesday.

Asian stock markets started lowed Wednesday, even as worries eased over Turkey’s currency crisis. Benchmarks in Taiwan, Hong Kong and China were down about 1%, with tech stocks continuing to sell off.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.34%  fell 0.7% after jumping 2.3% Tuesday. The pullback comes as the yen has weakened some; the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.4412%   was last at ¥111.30 versus ¥111.15 in late New York trade. The oil and coal-products sector was off 0.5% amid fresh declines in crude prices, with Japan Petroleum Exploration /zigman2/quotes/201212147/delayed JP:1662 -3.37%   down 1.4%. Also, highflying SoftBank /zigman2/quotes/207303954/delayed JP:9984 +0.55%  pulled back 2.6%, as tech stocks retreated as well.

In Hong Kong, the Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.42%   fell 1.5%. Tencent /zigman2/quotes/204605823/delayed HK:700 +0.79%   dropped 3.6%, ahead of its after-the-bell second-quarter earnings report. Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +1.76%  , which plunged a record 24% Tuesday following its second-quarter report, fell a further 0.9%.

Chinese stocks were down about 1% despite a liquidity injection by the People’s Bank of China . The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.34%   was off 2% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.15%   was off 2%. Nanjing Putian Telecom /zigman2/quotes/207685992/delayed CN:200468 +0.85%   resumed trading after a 16-month suspension, and plunged 31% to hit six-year lows. Meanwhile, troubled vaccine maker Changsheng   logged its 22nd-straight drop.

Taiwan’s Taiex   fell more than 1% as lens maker Largan Precision Co. /zigman2/quotes/210444196/delayed TW:3008 -0.98%   dropped 3.7%, putting this week’s swoon at 13%. Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 +0.67%   sank 0.8%.

Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.0013%   bucked the trend, up slightly, although banking heavyweight Commonwealth Bank of Australia /zigman2/quotes/200638713/delayed AU:CBA -0.07%   fell amid accusations that it broke pension-fund rules . Stocks in New Zealand /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.25%   were up slightly as well.

Malaysia’s benchmark index /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.22%   was about flat, while Singapore’s /zigman2/quotes/210597985/delayed SG:STI +0.52%   dipped. South Korea’s Kospi was closed for a holiday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,804.85
+96.27 +0.34%
Volume: 0.00
Oct. 22, 2021 3:15p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
113.5000
-0.5030 -0.4412%
Volume: 0.0000
Oct. 22, 2021 4:59p
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/zigman2/quotes/201212147/delayed
JP : Japan: Tokyo
¥ 2,067.00
-72.00 -3.37%
Volume: 476,900
Oct. 22, 2021 3:00p
P/E Ratio
8.48
Dividend Yield
2.42%
Market Cap
¥122.08 billion
Rev. per Employee
¥134.88M
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,610.00
+36.00 +0.55%
Volume: 15.77M
Oct. 22, 2021 3:00p
P/E Ratio
2.99
Dividend Yield
0.00%
Market Cap
¥11262.00 billion
Rev. per Employee
¥202.77M
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,126.93
+109.40 +0.42%
Volume: 1.70M
Oct. 22, 2021 4:08p
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/zigman2/quotes/204605823/delayed
HK : Hong Kong
$ 509.50
+4.00 +0.79%
Volume: 12.74M
Oct. 22, 2021 4:08p
P/E Ratio
22.39
Dividend Yield
0.31%
Market Cap
$4815.19 billion
Rev. per Employee
$10.55M
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
$ 208.60
+3.60 +1.76%
Volume: 2.46M
Oct. 22, 2021 4:08p
P/E Ratio
33.58
Dividend Yield
0.51%
Market Cap
$224.35 billion
Rev. per Employee
$1.75M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,582.60
-12.18 -0.34%
Volume: 35.32B
Oct. 22, 2021 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,412.67
-3.51 -0.15%
Volume: 38.23B
Oct. 22, 2021 3:00p
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/zigman2/quotes/207685992/delayed
CN : China: Shenzhen
$ 3.54
+0.03 +0.85%
Volume: 136,800
Oct. 22, 2021 3:00p
P/E Ratio
12.88
Dividend Yield
N/A
Market Cap
$754.65 million
Rev. per Employee
$847,254
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/zigman2/quotes/210444196/delayed
TW : Taiwan
NT$ 2,025.00
-20.00 -0.98%
Volume: 511,038
Oct. 22, 2021 1:30p
P/E Ratio
13.00
Dividend Yield
4.52%
Market Cap
NT$274.32 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 600.00
+4.00 +0.67%
Volume: 14.24M
Oct. 22, 2021 1:30p
P/E Ratio
28.08
Dividend Yield
1.75%
Market Cap
NT$15454.51 billion
Rev. per Employee
NT$23.57M
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,415.50
+0.10 +0.0013%
Volume: 638,420
Oct. 22, 2021 5:22p
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/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 104.88
-0.07 -0.07%
Volume: 2.80M
Oct. 22, 2021 4:10p
P/E Ratio
19.29
Dividend Yield
3.34%
Market Cap
$178.91 billion
Rev. per Employee
$680,586
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
13,093.24
-32.74 -0.25%
Volume: 0.00
Oct. 22, 2021 5:00p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,588.08
-3.54 -0.22%
Volume: 0.00
Oct. 22, 2021 5:05p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,205.14
+16.64 +0.52%
Volume: 0.00
Oct. 22, 2021 5:20p
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