Bulletin
Investor Alert

Asia Markets Archives | Email alerts

April 15, 2015, 5:38 a.m. EDT

Hong Kong stock gains limited by weak China data

Shanghai shares fall, halting three-day winning streak

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Hang Seng Index (HSI)
  • X
    Hang Seng China Enterprises Index (160462)
  • X
    Shanghai Composite Index (SHCOMP)

or Cancel Already have a watchlist? Log In

By Laura He, MarketWatch


Shutterstock/Leungchopan
Hong Kong stocks edge higher on Wednesday, while most other Asian markets lose ground.

HONG KONG (MarketWatch) — Hong Kong stocks eked out gains on Wednesday, returning to the advance after snapping an eight-day win streak on Tuesday. But the gains were capped after data showed China’s economic growth declined to a six-year low in the first quarter.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +1.11%  recovered 0.2% to 27,618.82, after retreating on Tuesday from a seven-year high of 28,016.34. The mainland-China-tracking Hang Seng China Enterprises /zigman2/quotes/210598031/delayed CN:160462 +0.63%  rose 1.5%.

Official data released Wednesday showed China’s gross domestic product grew 7% in the first quarter — the slowest pace since 2009. Still, the figure matched forecasts in a Reuters survey and exceeded an estimated 6.9% increase in a Wall Street Journal poll. Meanwhile, industrial output and retail sales both recorded weaker-than-expected growth in March.

On the mainland itself, Shanghai markets halted a three-day run, with the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +1.77%  pulling back 1.2%.

Mainland Chinese banks posted broad-based gains, with Industrial & Commercial Bank of China Ltd.  /zigman2/quotes/201401473/delayed HK:1398 +0.81%   /zigman2/quotes/204265987/composite IDCBF +3.11%   /zigman2/quotes/202525815/delayed CN:601398 +0.76%  jumping 4.9%, China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 +1.80%   /zigman2/quotes/209484779/composite CICHF -3.49% /zigman2/quotes/208058581/delayed CN:601939 +0.43%   climbing 4.4%, Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 +1.39%   /zigman2/quotes/208048873/composite BKFCF 0.00% /zigman2/quotes/207155262/delayed CN:601328 +0.41%   rising 4.3%, and Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 +0.64%   /zigman2/quotes/201568493/composite BACHY +0.20%   /zigman2/quotes/209359942/delayed CN:601988 +0.30%  higher by 3.6%.

The biggest gainer, Alibaba Health Information Technology Ltd. /zigman2/quotes/205411947/delayed HK:241 -1.84%  , soared 80.8%, after parent Alibaba Group Holding Ltd. /zigman2/quotes/201948298/composite BABA +1.66%  said it would transfer its Tmall online-pharmacy business to Alibaba Health in exchange for $2.5 billion worth of shares and convertible debt. After the deal, Alibaba Group’s stake in the health-care company would be set to increase to more than 50%, making it a consolidated subsidiary.

On the downside, online major Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 +0.52%   /zigman2/quotes/207908563/composite TCEHY +3.64%   extended previous losses to decline 2.2%. Fellow index heavyweight China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 +0.31%    also retreated, dropping 2.7%.

Other Asian markets were mostly weaker, with Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +2.32%  slipping 0.2% and the broader Topix /zigman2/quotes/210598092/delayed JP:180460 +1.86%  drifting 0.1% lower. The yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0009%  softened, with the greenback buying ¥119.56, compared with ¥119.40 late Tuesday in New York.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.45%  shed 0.6%, while South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +1.00%  notched a 0.4% gain.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,027.57
+308.90 +1.11%
Volume: 1.88M
May 14, 2021 4:08p
loading...
/zigman2/quotes/210598031/delayed
CN : Hong Kong Exchange
10,404.95
+64.96 +0.63%
Volume: 0.00
May 14, 2021 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,490.38
+60.84 +1.77%
Volume: 33.70B
May 14, 2021 3:01p
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 4.99
+0.04 +0.81%
Volume: 172.88M
May 14, 2021 4:08p
P/E Ratio
4.88
Dividend Yield
6.43%
Market Cap
HK$2151.31 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204265987/composite
US : U.S.: OTC
$ 0.66
+0.02 +3.11%
Volume: 0.00
May 11, 2021 2:38p
P/E Ratio
5.11
Dividend Yield
N/A
Market Cap
$275.39 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202525815/delayed
CN : China: Shanghai
¥ 5.28
+0.04 +0.76%
Volume: 155.00M
May 13, 2021 3:00p
P/E Ratio
5.96
Dividend Yield
5.04%
Market Cap
¥1782.38 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.23
+0.11 +1.80%
Volume: 156.36M
May 14, 2021 4:08p
P/E Ratio
4.75
Dividend Yield
6.32%
Market Cap
HK$1578.62 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209484779/composite
US : U.S.: OTC
$ 0.79
-0.03 -3.49%
Volume: 230.00
May 14, 2021 11:59a
P/E Ratio
4.87
Dividend Yield
N/A
Market Cap
$203.26 billion
Rev. per Employee
$491,462
loading...
/zigman2/quotes/208058581/delayed
CN : China: Shanghai
¥ 6.98
+0.03 +0.43%
Volume: 81.50M
May 13, 2021 3:00p
P/E Ratio
6.38
Dividend Yield
4.67%
Market Cap
¥1307.91 billion
Rev. per Employee
¥3.39M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 5.11
+0.07 +1.39%
Volume: 27.57M
May 14, 2021 4:08p
P/E Ratio
4.18
Dividend Yield
7.49%
Market Cap
HK$413.42 billion
Rev. per Employee
HK$5.77M
loading...
/zigman2/quotes/208048873/composite
US : U.S.: OTC
$ 0.58
0.00 0.00%
Volume: 0.00
May 5, 2021 3:27p
P/E Ratio
4.32
Dividend Yield
N/A
Market Cap
$48.64 billion
Rev. per Employee
$786,734
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 4.95
+0.02 +0.41%
Volume: 96.87M
May 13, 2021 3:00p
P/E Ratio
5.26
Dividend Yield
6.40%
Market Cap
¥342.52 billion
Rev. per Employee
¥5.43M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 3.13
+0.02 +0.64%
Volume: 197.66M
May 14, 2021 4:08p
P/E Ratio
4.13
Dividend Yield
7.60%
Market Cap
HK$1098.61 billion
Rev. per Employee
HK$3.34M
loading...
/zigman2/quotes/201568493/composite
US : U.S.: OTC
$ 10.09
+0.02 +0.20%
Volume: 26,657
May 14, 2021 3:55p
P/E Ratio
4.25
Dividend Yield
11.71%
Market Cap
$141.46 billion
Rev. per Employee
$427,123
loading...
/zigman2/quotes/209359942/delayed
CN : China: Shanghai
¥ 3.29
+0.01 +0.30%
Volume: 138.13M
May 13, 2021 3:00p
P/E Ratio
5.02
Dividend Yield
5.99%
Market Cap
¥910.21 billion
Rev. per Employee
¥2.95M
loading...
/zigman2/quotes/205411947/delayed
HK : Hong Kong
HK$ 21.30
-0.40 -1.84%
Volume: 20.21M
May 14, 2021 4:08p
P/E Ratio
902.54
Dividend Yield
N/A
Market Cap
HK$287.22 billion
Rev. per Employee
HK$10.88M
loading...
/zigman2/quotes/201948298/composite
US : U.S.: NYSE
$ 209.51
+3.43 +1.66%
Volume: 31.63M
May 14, 2021 4:00p
P/E Ratio
26.18
Dividend Yield
N/A
Market Cap
$571.27 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 583.00
+3.00 +0.52%
Volume: 16.01M
May 14, 2021 4:08p
P/E Ratio
31.20
Dividend Yield
0.27%
Market Cap
HK$5546.41 billion
Rev. per Employee
HK$10.55M
loading...
/zigman2/quotes/207908563/composite
US : U.S.: OTC
$ 76.57
+2.69 +3.64%
Volume: 2.85M
May 14, 2021 4:00p
P/E Ratio
31.77
Dividend Yield
0.24%
Market Cap
$714.16 billion
Rev. per Employee
$1.36M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 48.55
+0.15 +0.31%
Volume: 17.31M
May 14, 2021 4:08p
P/E Ratio
8.21
Dividend Yield
6.78%
Market Cap
HK$994.08 billion
Rev. per Employee
HK$1.90M
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
28,084.47
+636.46 +2.32%
Volume: 0.00
May 14, 2021 3:15p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,883.42
+34.38 +1.86%
Volume: 0.00
May 14, 2021 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.3490
+0.0010 +0.0009%
Volume: 0.0000
May 16, 2021 6:15p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,014.20
+31.50 +0.45%
Volume: 513.00
May 17, 2021 7:06a
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,153.32
+31.21 +1.00%
Volume: 836,404
May 14, 2021 3:32p
loading...

Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.