Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

ASIA MARKETS: Asian Markets Mixed; Hong Kong Rattled By Continued Protests

share with twitter share with LinkedIn share with facebook
share via e-mail
1
08/22/2019 | 08:25am EST

By Marketwatch and Associated Press

Nikkei ticks down as PMI shows contraction for fourth month

Asian stock markets finished mixed Thursday following Wall Street's rebound as investors looked ahead to a speech by the U.S. Federal Reserve chairman for clues about possible interest rate cuts.

Investor reaction was muted following Wednesday's release of notes from the latest Fed meeting showing conflicting opinions about rates.

Benchmarks in Shanghai and Hong Kong fell, while Tokyo and Sydney climbed.

Investors are looking to Chairman Jerome Powell's speech Friday for guidance about whether the Fed might cut rates at its next meeting in September. The Fed cut its key policy rate on July 31 for the first time in more than a decade, citing President Donald Trump's tariff battle with Beijing and other possible threats to economic growth.

Markets have a "high degree of policy uncertainty" ahead of Powell's speech and U.S.-China trade talks in September, said Stephen Innes of Oanda in a report.

Mixed views rates among Fed leaders are "well documented," but the notes are a "reminder of how challenging it could be for Chair Powell to meet the market's exceedingly dovish expectations," said Innes.

The Shanghai Composite Index dropped 0.2% and Hong Kong's Hang Seng fell 0.8%. Investors remained nervous over unrest in Hong Kong as protestors briefly faced off with police at a suburban train station .

Tokyo's Nikkei 225 finished flat, while Sydney's S&P-ASX 200 rose 0.3% to 6,505.90.

Preliminary data Wednesday showed Japan's manufacturing activity shrank for a fourth consecutive month, according to Reuters (https://uk.reuters.com/article/us-japan-economy-pmi/japan-august-manufacturing-shrinks-for-fourth-month-as-export-orders-fall-flash-pmi-idUKKCN1VC021). The Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index rose to a seasonally adjusted 49.5 in August from 49.4 in July. Readings below 50 signify contraction.

Elsewhere, the Shenzhen Composite was about flat. South Korea's Kospi fell 0.7%, while benchmark indexes in Taiwan , Singapore and Indonesia were mixed.

Among individual stocks, SoftBank fell in Tokyo trading, while Sony and Renesas Electronics slipped as well. In Hong Kong, Geely Automobile surged, while AAC and Wharf Real Estate declined. Samsung dropped in South Korea, while Apple supplier Largan Precision gained in Taiwan. In Australia, Beach Energy and Fortescue Metals rallied.

On Wednesday, U.S. stocks finished higher after minutes from Federal Reserve's July meeting offered few surprises and suggested that the central bank wanted to remain flexible in implementing policy changes.

Stocks mentioned in the article
ChangeLast1st jan.
AAC TECHNOLOGIES HOLDINGS INC. 4.00% 53.25 End-of-day quote.17.16%
APPLE INC. -0.30% 266.29 Delayed Quote.69.33%
ASX LIMITED 1.16% 81.14 End-of-day quote.33.88%
BEACH ENERGY LIMITED 0.42% 2.37 End-of-day quote.76.95%
CHINA-SHANGHAI COMP 0.62% 2909.2 End-of-day quote.16.47%
FORTESCUE METALS GROUP LIMITED 2.65% 9.29 End-of-day quote.116.23%
GEELY AUTOMOBILE HOLDINGS LIMITED 4.47% 15.44 End-of-day quote.13.20%
HANG SENG 1.58% 27064.87 Real-time Quote.3.09%
KOSPI COMPOSITE INDEX -0.24% 2151.94 Real-time Quote.5.67%
LARGAN PRECISION CO., LTD. End-of-day quote.
NIKKEI 225 -0.53% 23292.65 Real-time Quote.16.43%
REGENT MANNER INTERNATIONAL HOLDINGS LTD 0.00% 1.79 End-of-day quote.0.00%
RENESAS ELECTRONICS CORPORATION 0.13% 755 End-of-day quote.56.31%
ROYAL PHILIPS 0.37% 41.105 Delayed Quote.32.41%
S&P/ASX 200 -0.97% 6748.2 Real-time Quote.20.32%
SAMSUNG ELECTRONICS CO LTD End-of-day quote.
SEVEN GROUP HOLDINGS LIMITED 0.00% 19.2 End-of-day quote.34.56%
SIGNIFY -1.46% 27.02 Delayed Quote.33.95%
SOFTBANK GROUP CORP. 1.64% 4330 End-of-day quote.-38.19%
SONY CORPORATION 1.75% 6844 End-of-day quote.32.94%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED -0.81% 489 End-of-day quote.-25.00%
WHARF (HOLDINGS) LIMITED 0.99% 18.38 End-of-day quote.-9.90%
WHARF REAL ESTATE INVESTMENT COMPANY LTD End-of-day quote.
share with twitter share with LinkedIn share with facebook
share via e-mail
1
Latest news "Markets"
05:16pOversupply angst drags oil lower, stocks drift near highs
RE
05:00pOversupply angst drags oil lower, stocks drift near highs
RE
04:57pOversupply angst drags oil lower, stocks drift near highs
RE
04:48pWALL STREET STOCK EXCHANGE : Stocks Slip on Disappointing Retail Earnings
DJ
04:44pWALL STREET STOCK EXCHANGE : Retail sector weighs on Wall Street; Dow and S&P end lower
RE
04:25pWALL STREET STOCK EXCHANGE : Stocks End Day Mixed After Disappointing Retail Earnings
DJ
04:24pWALL STREET STOCK EXCHANGE : Dismal retail results drag down Dow, S&P
RE
04:04pTSX falls 0.08% to 17,011.40
RE
03:14pWALL STREET STOCK EXCHANGE : Stocks Waver on Disappointing Retail Earnings
DJ
01:22pWALL STREET STOCK EXCHANGE : Stocks Slip on Disappointing Retail Earnings
DJ
Latest news "Markets"