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Oct. 8, 2014, 5:57 a.m. EDT

Hong Kong stocks snap three-day recovery run

Japanese stocks slide

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By Laura He, MarketWatch


Shutterstock/Mike Demidov

HONG KONG (MarketWatch) -- Hong Kong stocks closed lower on Wednesday, keying off a selloff in the U.S. markets overnight, and ending a three-session run of gains.

The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.09%  retreated 0.7%, marking the fifth decline in the past eight days.

Banks and tech stocks dropped, with several index heavyweights falling hard, including a 1.1% pullback for telecom giant China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 -0.10% , and a 0.9% move lower for online major Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 -1.72% .

Among financial stocks, top underperformers included China Merchants Bank Co. /zigman2/quotes/209899244/delayed HK:3968 +2.95% , down 1.5%, and Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 +1.58% , off 0.9%.

Casino stocks tumbled, as MGM China Holdings Ltd. /zigman2/quotes/203735819/delayed HK:2282 -1.01%  slid 3.2% and Galaxy Entertainment Group Ltd. /zigman2/quotes/202884203/delayed HK:27 +0.30%  lost 2.7%. Both Sands China Ltd. /zigman2/quotes/207609245/delayed HK:1928 -0.14%  and Melco Crown Entertainment Ltd.  dropped 2.5%, and Wynn Macau Ltd. /zigman2/quotes/200973447/delayed HK:1128 -0.73%  skidded 2.1%.

Oil stocks were also weak as international crude prices fell, with state-owned energy giant PetroChina Co. /zigman2/quotes/204979431/delayed HK:857 +1.65%  giving up 2%, offshore oil producer Cnooc Ltd. /zigman2/quotes/203421416/delayed HK:883 +0.93% moving down 1.3%, and China Petroleum & Chemical Corp. /zigman2/quotes/202085942/delayed HK:386 +0.97% , or Sinopec, trading 0.6% lower.

However, mainland Chinese real-estate developer Sunac China Holdings Ltd. /zigman2/quotes/206127839/delayed HK:1918 -1.12% bucked the trend and rose 0.6% as the company’s contract sales for the first nine months of this year jumped 33% from a year ago. Rival Greentown China Holdings Ltd. /zigman2/quotes/210429626/delayed HK:3900 -0.21% also added 0.4% after reporting a 28% increase in its contract sales for last month.

Over on the Chinese mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.65% advanced 0.8% on its first trading day after a week-long National Day holiday.

In other Asian markets, Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.09%  closed down 1.2%, with the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.4584% rising to ¥108.013, compared with ¥107.828 a day earlier. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 +0.29%  also finished 1.2% lower.

Elsewhere, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.27%  declined 0.8%, and South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.58%  settled 0.4% lower.

/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/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$1024.80 billion
Rev. per Employee
HK$1.90M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 600.00
-10.50 -1.72%
Volume: 17.46M
May 7, 2021 4:08p
P/E Ratio
32.11
Dividend Yield
0.27%
Market Cap
HK$5808.04 billion
Rev. per Employee
HK$10.55M
loading...
/zigman2/quotes/209899244/delayed
HK : Hong Kong
HK$ 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$5.77M
loading...
/zigman2/quotes/203735819/delayed
HK : Hong Kong
HK$ 11.72
-0.12 -1.01%
Volume: 2.02M
May 7, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$44.99 billion
Rev. per Employee
HK$259,681
loading...
/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 66.70
+0.20 +0.30%
Volume: 5.30M
May 7, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$289.29 billion
Rev. per Employee
HK$453,573
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
HK$ 34.55
-0.05 -0.14%
Volume: 9.13M
May 7, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$280.02 billion
Rev. per Employee
HK$305,069
loading...
/zigman2/quotes/200973447/delayed
HK : Hong Kong
HK$ 13.68
-0.10 -0.73%
Volume: 7.36M
May 7, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$71.74 billion
Rev. per Employee
HK$321,797
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 3.08
+0.05 +1.65%
Volume: 252.86M
May 7, 2021 4:08p
P/E Ratio
25.37
Dividend Yield
6.83%
Market Cap
HK$914.91 billion
Rev. per Employee
HK$4.65M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 8.72
+0.08 +0.93%
Volume: 156.53M
May 7, 2021 4:08p
P/E Ratio
13.84
Dividend Yield
5.16%
Market Cap
HK$385.75 billion
Rev. per Employee
HK$9.51M
loading...
/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 4.16
+0.04 +0.97%
Volume: 124.58M
May 7, 2021 4:08p
P/E Ratio
6.20
Dividend Yield
3.76%
Market Cap
HK$606.17 billion
Rev. per Employee
HK$5.31M
loading...
/zigman2/quotes/206127839/delayed
HK : Hong Kong
HK$ 30.85
-0.35 -1.12%
Volume: 8.33M
May 7, 2021 4:08p
P/E Ratio
3.55
Dividend Yield
6.43%
Market Cap
HK$145.54 billion
Rev. per Employee
HK$4.14M
loading...
/zigman2/quotes/210429626/delayed
HK : Hong Kong
HK$ 9.47
-0.02 -0.21%
Volume: 2.92M
May 7, 2021 4:08p
P/E Ratio
16.39
Dividend Yield
4.44%
Market Cap
HK$23.63 billion
Rev. per Employee
HK$9.54M
loading...
/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
108.5850
-0.5000 -0.4584%
Volume: 0.0000
May 7, 2021 4:59p
loading...
/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
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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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