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Aug. 13, 2014, 6:03 a.m. EDT

Hong Kong stocks close at highest since late 2010

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By Laura He, MarketWatch

HONG KONG (MarketWatch) — Hong Kong stocks climbed on Wednesday to their highest settlement in more than three years, extending a three-day winning streak.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.09%  ended up 0.8% at 24,890.34, a closing level it hasn’t seen since November 2010, shrugging off a batch of Chinese economic data that showed a slowing in growth.

China’s industrial production rose by 9% in July, easing from a 9.2% increase in June, while a 12.2% growth in July retail sales also missed expectations from a Bloomberg survey, according to data from the National Bureau of Statistics on Wednesday.


Shutterstock/leungchopan

Chinese banks advanced across the board, with China Merchants Bank Co., Ltd. /zigman2/quotes/209899244/delayed HK:3968 +2.95%   rising 1.8%, Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 +1.58%  adding 1.7%, and China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 +1.46%  improving by 0.9%.

However, Cathay Pacific Airways Ltd. /zigman2/quotes/203532437/delayed HK:293 -0.31%  , one of Asia’s largest airlines, bucked the market trend with a 1.7% decline, after its interim earnings fell short of market expectations.

In Japan, the Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.09%  gained for a third straight session, closing up 0.4%. The Topix index /zigman2/quotes/210598092/delayed JP:180460 +0.29%  also finished 0.4% higher. The yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.4584%  , meanwhile, fell to 102.452, from 102.294 against the dollar on Tuesday.

In other Asian markets, Seoul’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.58%  settled 1% higher, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.65%  ticked up 0.1%, and Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.27%   pulled back 0.3%.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,610.65
-26.81 -0.09%
Volume: 2.21M
May 7, 2021 4:08p
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/zigman2/quotes/209899244/delayed
HK : Hong Kong
HK$ 66.30
+1.90 +2.95%
Volume: 19.78M
May 7, 2021 4:08p
P/E Ratio
14.33
Dividend Yield
2.27%
Market Cap
HK$1624.11 billion
Rev. per Employee
HK$5.18M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 5.14
+0.08 +1.58%
Volume: 41.47M
May 7, 2021 4:08p
P/E Ratio
4.20
Dividend Yield
7.42%
Market Cap
HK$405.11 billion
Rev. per Employee
HK$5.77M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.25
+0.09 +1.46%
Volume: 243.97M
May 7, 2021 4:08p
P/E Ratio
4.76
Dividend Yield
6.27%
Market Cap
HK$1558.44 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203532437/delayed
HK : Hong Kong
HK$ 6.51
-0.02 -0.31%
Volume: 13.01M
May 7, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$42.03 billion
Rev. per Employee
HK$2.41M
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
29,357.82
+26.45 +0.09%
Volume: 0.00
May 7, 2021 3:15p
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/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,933.05
+5.65 +0.29%
Volume: 0.00
May 7, 2021 3:00p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.5850
-0.5000 -0.4584%
Volume: 0.0000
May 7, 2021 4:59p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,197.20
+18.46 +0.58%
Volume: 989,680
May 7, 2021 3:32p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,418.87
-22.41 -0.65%
Volume: 35.38B
May 7, 2021 3:01p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,080.80
+19.10 +0.27%
Volume: 532,249
May 7, 2021 5:15p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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