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Oct. 6, 2020, 11:45 p.m. EDT

Stocks take a breather in most of Asia Wednesday, but Hong Kong continues to rally

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By MarketWatch, MarketWatch


Associated Press
People walk past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday,.

Stocks in Asia gave back some of their gains of the last two days in early Wednesday trading, though Hong Kong’s Hang Seng index bucked that trend by opening solidly higher.

But upsides for the Hong Kong stock market /zigman2/quotes/210598030/delayed HK:HSI -0.09%    are likely to be limited in the near term, as U.S. political uncertainties remain high, KGI Securities says. Tech stocks are lower, with Xiaomi /zigman2/quotes/208140246/delayed HK:1810 -0.98%   losing 1.9%, AAC Technologies /zigman2/quotes/201441510/delayed HK:2018 -2.35%   declining 1.0% and Tencent Holdings /zigman2/quotes/204605823/delayed HK:700 -1.72%   off 0.1%. Insurance stocks are also down, with Ping An Insurance /zigman2/quotes/210315058/delayed HK:2318 -0.06%   falling 1.1% and China Life Insurance /zigman2/quotes/202359856/delayed HK:2628 +0.38%   0.8% lower. Among other stocks, Citic Ltd. /zigman2/quotes/208139708/delayed HK:6030 0.00%   is 1.4% lower and Geely Automobile /zigman2/quotes/200716015/delayed HK:175 -2.73%   is off 1.3%.

Stocks in Japan /zigman2/quotes/210597971/delayed JP:NIK +0.09%   were off slightly, mirroring most other markets in the region.

Steady gains in employment appear to be underway in Australia with the number of payroll jobs up 0.4% in Victoria over the two weeks to Sept. 19, according to the Australian Bureau of Statistics. Over the same period, payroll jobs increased 0.3% nationally. Still, payroll jobs across the country remain around 4.1% lower than in mid-March. Victoria is steadily shaking off a second wave of Covid-19. Australian stocks /zigman2/quotes/210598100/delayed AU:XJO +0.27%  were ahead nearly 0.9% on the news.

South Korea’s Kopsi /zigman2/quotes/210598069/delayed KR:180721 +0.58%   fell after the country reported 114 new cases of the coronavirus, its first daily jump of over 100 in a week. Health officials had raised concerns that infections will rise because of increased travel during the five-day Chuseok harvest holiday that ended Sunday. The figures released by health officials Wednesday brought South Korea’s case total to 24,353 for the pandemic, including 425 deaths.

Losses were led by the airline and retail sectors. Ebbing hopes for fresh U.S. stimulus are dampening investor sentiment after President Trump halted bipartisan talks over a new coronavirus relief package. Airlines retreated, with Asiana Airlines /zigman2/quotes/207223301/delayed KR:020560 +1.67%   down 2.6% and Jeju Air /zigman2/quotes/205344729/delayed KR:089590 +1.70%   1.5% lower. Retailers are mostly down, with Lotte Himart /zigman2/quotes/207356216/delayed KR:071840 +3.31%   falling 2.3%. Index heavyweight Samsung Electronics /zigman2/quotes/209800866/delayed KR:005930 -0.49%   was down 0.5%.

The story was compiled from Dow Jones Newswires and Associated Press reports.

/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/208140246/delayed
HK : Hong Kong
HK$ 25.25
-0.25 -0.98%
Volume: 119.84M
May 7, 2021 4:08p
P/E Ratio
39.79
Dividend Yield
N/A
Market Cap
HK$642.76 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 41.55
-1.00 -2.35%
Volume: 6.69M
May 7, 2021 4:08p
P/E Ratio
29.35
Dividend Yield
0.72%
Market Cap
HK$51.42 billion
Rev. per Employee
HK$570,931
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 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$10.55M
loading...
/zigman2/quotes/210315058/delayed
HK : Hong Kong
HK$ 81.60
-0.05 -0.06%
Volume: 38.06M
May 7, 2021 4:08p
P/E Ratio
9.23
Dividend Yield
3.15%
Market Cap
HK$1518.91 billion
Rev. per Employee
HK$3.74M
loading...
/zigman2/quotes/202359856/delayed
HK : Hong Kong
HK$ 15.92
+0.06 +0.38%
Volume: 27.62M
May 7, 2021 4:08p
P/E Ratio
8.00
Dividend Yield
4.83%
Market Cap
HK$935.80 billion
Rev. per Employee
HK$8.57M
loading...
/zigman2/quotes/208139708/delayed
HK : Hong Kong
HK$ 19.46
0.00 0.00%
Volume: 29.28M
May 7, 2021 4:08p
P/E Ratio
14.98
Dividend Yield
2.47%
Market Cap
HK$350.98 billion
Rev. per Employee
HK$6.04M
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 19.22
-0.54 -2.73%
Volume: 58.31M
May 7, 2021 4:08p
P/E Ratio
29.93
Dividend Yield
1.04%
Market Cap
HK$194.05 billion
Rev. per Employee
HK$2.72M
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
29,357.82
+26.45 +0.09%
Volume: 0.00
May 7, 2021 3:15p
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/210598069/delayed
KR : Korea Exchange
3,197.20
+18.46 +0.58%
Volume: 989,680
May 7, 2021 3:32p
loading...
/zigman2/quotes/207223301/delayed
KR : S. Korea: KRX
15,200.00
+250.00 +1.67%
Volume: 705,967
May 7, 2021 3:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
₩1112.46 billion
Rev. per Employee
₩435.13M
loading...
/zigman2/quotes/205344729/delayed
KR : S. Korea: KRX
23,950.00
+400.00 +1.70%
Volume: 173,808
May 7, 2021 3:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
₩905.02 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207356216/delayed
KR : S. Korea: KRX
40,600.00
+1,300 +3.31%
Volume: 131,388
May 7, 2021 3:30p
P/E Ratio
33.37
Dividend Yield
2.96%
Market Cap
₩927.78 billion
Rev. per Employee
₩1.03B
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
81,900.00
-400.00 -0.49%
Volume: 14.15M
May 7, 2021 3:30p
P/E Ratio
21.32
Dividend Yield
1.76%
Market Cap
₩552618.22 billion
Rev. per Employee
₩2.16B
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