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Sept. 17, 2014, 5:14 a.m. EDT

Hong Kong stocks snap losing streak on liquidity boost

Tokyo stocks inch lower

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By Laura He, MarketWatch


Shutterstock/Ufuk Zivana

HONG KONG (MarketWatch) — Hong Kong stocks bounced back Wednesday, breaking an eight-day losing streak, after China’s central bank reportedly pumped tens of billions of dollars into the banking system to spur economic growth in China amid a worse-than-expected slowdown.

The People’s Bank of China is injecting 500 billion yuan ($81 billion) into the country’s five major state-owned banks, a move seen by many as a response to a batch of disappointing economic data in August, media reports said Wednesday.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.09%  rebounded 1%, recouping some losses after having registered a roughly 4.7% loss over the eight previous sessions.

Mainland Chinese banks advanced broadly, with Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 +1.58%   climbing 2.3%, Industrial & Commercial Bank of China Ltd. /zigman2/quotes/201401473/delayed HK:1398 +1.00%   adding 2%, China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 +1.46%   rising 1.9%, Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 +0.96%   gaining 1.7%, and Agricultural Bank of China Ltd. /zigman2/quotes/200705246/delayed HK:1288 +0.33%   tacking on 1.1%.

Telecoms shares also clawed back some ground, after falling hard a day ago amid reports that the release date of Apple Inc.’s /zigman2/quotes/202934861/composite AAPL +0.53%   iPhone 6 in mainland China remains still uncertain. Index heavyweight China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 -0.10%   went 1.6% higher, while its smaller rivals China Telecom Corp. /zigman2/quotes/206668971/delayed HK:728 +2.14%   and China Unicom Hong Kong Ltd. /zigman2/quotes/205091392/delayed HK:762 -0.22%   improved by 1.1% and 0.2%, respectively.

Over on the Chinese mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.65%   rose 0.5%.

In other Asian markets, Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.09%  inched down 0.1%, with the yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.4582%  slightly lower against the greenback, trading at ¥107.262 compared with ¥107.140 a day ago. Japan’s Topix Index /zigman2/quotes/210598092/delayed JP:180460 +0.29%  dropped 0.5%.

In Sydney, the S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.27%  declined 0.7%, as the Australian dollar /zigman2/quotes/210560947/realtime/sampled AUDUSD +0.7838%   fell to 90.67 U.S. cents, from 90.84 U.S. cents in the previous day. Meanwhile, Seoul’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.58%  settled 1% higher.

/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/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$412.65 billion
Rev. per Employee
HK$5.77M
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/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 5.05
+0.05 +1.00%
Volume: 291.24M
May 7, 2021 4:08p
P/E Ratio
4.94
Dividend Yield
6.33%
Market Cap
HK$2130.66 billion
Rev. per Employee
N/A
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/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 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$1581.86 billion
Rev. per Employee
N/A
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/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 3.14
+0.03 +0.96%
Volume: 298.77M
May 7, 2021 4:08p
P/E Ratio
4.15
Dividend Yield
7.54%
Market Cap
HK$1093.79 billion
Rev. per Employee
HK$3.34M
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/zigman2/quotes/200705246/delayed
HK : Hong Kong
HK$ 3.05
+0.01 +0.33%
Volume: 84.87M
May 7, 2021 4:08p
P/E Ratio
4.27
Dividend Yield
7.30%
Market Cap
HK$1341.38 billion
Rev. per Employee
HK$2.59M
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 130.21
+0.69 +0.53%
Volume: 78.97M
May 7, 2021 4:00p
P/E Ratio
29.22
Dividend Yield
0.68%
Market Cap
$2172.90 billion
Rev. per Employee
$1.86M
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/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 50.00
-0.05 -0.10%
Volume: 16.39M
May 7, 2021 4:08p
P/E Ratio
8.45
Dividend Yield
6.58%
Market Cap
HK$1023.77 billion
Rev. per Employee
HK$1.90M
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/zigman2/quotes/206668971/delayed
HK : Hong Kong
HK$ 2.86
+0.06 +2.14%
Volume: 122.09M
May 7, 2021 4:08p
P/E Ratio
9.94
Dividend Yield
4.37%
Market Cap
HK$231.47 billion
Rev. per Employee
HK$1.57M
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/zigman2/quotes/205091392/delayed
HK : Hong Kong
HK$ 4.53
-0.01 -0.22%
Volume: 36.17M
May 7, 2021 4:08p
P/E Ratio
9.91
Dividend Yield
4.35%
Market Cap
HK$138.61 billion
Rev. per Employee
HK$1.34M
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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/210597971/delayed
JP : Nikkei
29,357.82
+26.45 +0.09%
Volume: 0.00
May 7, 2021 3:15p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.6150
-0.5000 -0.4582%
Volume: 0.0000
May 7, 2021 4:59p
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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
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,080.80
+19.10 +0.27%
Volume: 532,249
May 7, 2021 5:15p
loading...
/zigman2/quotes/210560947/realtime/sampled
US : Tullett Prebon
0.7844
+0.0061 +0.7838%
Volume: 0.0000
May 7, 2021 4:59p
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/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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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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