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May 6, 2013, 4:21 a.m. EDT

Asia stocks rally after U.S. jobs data

Malaysia stocks soar after elections; IPOs in focus in Hong Kong

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Asian stock markets rose Monday, taking cues from U.S. equities’ strong performance at the end of last week, along with accompanying gains for commodities.

The Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 +0.70%  rose 1.2%, Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.19%  climbed 1%, and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -2.48%  rose 0.5% to help lead regional gains.

Malaysia’s FTSE Kuala Lumpur Composite Index was also an outperformer, gaining 3.3% in afternoon trading. The advance came after a decisive result to the nation’s elections, extending the ruling coalition’s lock on power.


Reuters

The strength for Asian equities came after Wall Street saw some fresh record highs for share indexes on Friday, with the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -4.44%  climbing 1%, and the S&P 500 /zigman2/quotes/210599714/realtime SPX -4.41%  ending 1.1% higher to surpass the 1,600 level.

Helping buoy stocks in the U.S., the government reported better-than-expected April jobs data early Friday.

Sydney-based chief market analyst for CMC Markets, Ric Spooner, said the U.S. nonfarm payrolls data came in at just the right level to cheer global stock investors.

“From the market’s point of view, this is a Goldilocks scenario — good enough to provide reasonable growth in corporate revenues but not strong enough to trigger more than a mild tapering in the [Federal Reserve’s] asset-purchase program,” Spooner said.

Elsewhere, Taiwan’s Taiex  improved by 0.4%, while Singapore’s Straits Times Index /zigman2/quotes/210597985/delayed SG:STI -1.65%  traded 0.5% higher.

Bucking the trend, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.09% ended 0.2% lower.

Japanese markets were closed for a holiday.

The U.S. jobs numbers also boosted some key commodities futures Friday, which in turn, sent most major Asia resource shares solidly higher on Monday.

Australian miner shares were among the big winners, with BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP -2.22%   /zigman2/quotes/208108397/lastsale BHP -2.23%  up 2.8%, Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -2.57%   /zigman2/quotes/202627887/lastsale RIO -3.05%  adding 3.1%, Alumina Ltd. /zigman2/quotes/210515632/delayed AU:AWC -1.37%   surging 4.9%, and Fortescue Metals Group Ltd. /zigman2/quotes/202351558/delayed AU:FMG -3.86%   /zigman2/quotes/204116626/delayed FSUMF +0.50%  improving by 5.9%.

Over in Hong Kong, shares of Jiangxi Copper Co. /zigman2/quotes/201668148/delayed HK:358 -1.68% /zigman2/quotes/204256025/delayed JIXAY -9.21%  soared 5.2% after an almost 7% rally in copper futures, with the company’s Shanghai shares /zigman2/quotes/201334192/delayed CN:600362 -0.48%  gaining 3.6%.

Gains for crude oil similarly helped energy names in Hong Kong, where PetroChina Co. /zigman2/quotes/204979431/delayed HK:857 -1.76%   /zigman2/quotes/205108732/lastsale PTR -1.81%  pulled 2.1% higher, and Cnooc Ltd. /zigman2/quotes/203421416/delayed HK:883 -1.23%   /zigman2/quotes/204964401/lastsale CEO -2.45%   rose 1.4%.

Also in the energy space, Sydney-listed Karoon Gas Australia Ltd. /zigman2/quotes/205368474/delayed AU:KAR +1.03%   /zigman2/quotes/207550848/delayed KRNGF +3.70%  zoomed 22.6% higher after it said its joint venture in Brazil had made its second significant offshore oil discovery.

/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 12.89
+0.09 +0.70%
Volume: 52.08M
April 1, 2020 3:00p
P/E Ratio
9.21
Dividend Yield
1.69%
Market Cap
¥248.40 billion
Rev. per Employee
¥6.12M
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,085.79
-517.69 -2.19%
Volume: 2.88M
April 1, 2020 4:08p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,128.10
-130.50 -2.48%
Volume: 266,282
April 2, 2020 11:34a
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
20,943.51
-973.65 -4.44%
Volume: 508.31M
April 1, 2020 5:09p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
2,470.50
-114.09 -4.41%
Volume: 3.67B
April 1, 2020 5:09p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,440.27
-40.96 -1.65%
Volume: 0.00
April 1, 2020 5:20p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,683.89
-1.57 -0.09%
Volume: 195,919
April 2, 2020 9:34a
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 29.56
-0.67 -2.22%
Volume: 1.94M
April 2, 2020 11:34a
P/E Ratio
11.06
Dividend Yield
7.21%
Market Cap
$146.54 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/lastsale
US : U.S.: NYSE
$ 35.87
-0.82 -2.23%
Volume: 3.71M
April 1, 2020 6:30p
P/E Ratio
9.65
Dividend Yield
7.97%
Market Cap
$54.02 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 86.13
-2.27 -2.57%
Volume: 392,576
April 2, 2020 11:34a
P/E Ratio
12.28
Dividend Yield
7.63%
Market Cap
$137.41 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/lastsale
US : U.S.: NYSE
$ 44.17
-1.39 -3.05%
Volume: 3.91M
April 1, 2020 6:30p
P/E Ratio
9.02
Dividend Yield
8.65%
Market Cap
$57.16 billion
Rev. per Employee
$852,406
loading...
/zigman2/quotes/210515632/delayed
AU : Australia: Sydney
$ 1.44
-0.02 -1.37%
Volume: 2.20M
April 2, 2020 11:33a
P/E Ratio
13.63
Dividend Yield
8.42%
Market Cap
$4.20 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202351558/delayed
AU : Australia: Sydney
$ 9.95
-0.40 -3.86%
Volume: 4.79M
April 2, 2020 11:34a
P/E Ratio
4.28
Dividend Yield
10.05%
Market Cap
$30.78 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204116626/delayed
US : U.S.: OTC
$ 6.04
+0.03 +0.50%
Volume: 9,286
April 1, 2020 3:41p
P/E Ratio
3.74
Dividend Yield
N/A
Market Cap
$18.50 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201668148/delayed
HK : Hong Kong
HK$ 7.04
-0.12 -1.68%
Volume: 4.83M
April 1, 2020 4:08p
P/E Ratio
8.79
Dividend Yield
1.55%
Market Cap
HK$24.79 billion
Rev. per Employee
HK$12.12M
loading...
/zigman2/quotes/204256025/delayed
US : U.S.: OTC
$ 43.77
-4.44 -9.21%
Volume: 90.00
March 30, 2020 5:20p
P/E Ratio
10.59
Dividend Yield
2.34%
Market Cap
$12.82 billion
Rev. per Employee
$1.55M
loading...
/zigman2/quotes/201334192/delayed
CN : China: Shanghai
¥ 12.57
-0.06 -0.48%
Volume: 12.01M
April 1, 2020 3:00p
P/E Ratio
17.65
Dividend Yield
1.59%
Market Cap
¥43.73 billion
Rev. per Employee
¥10.12M
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 2.79
-0.05 -1.76%
Volume: 256.01M
April 1, 2020 4:08p
P/E Ratio
9.82
Dividend Yield
5.62%
Market Cap
HK$519.78 billion
Rev. per Employee
HK$5.32M
loading...
/zigman2/quotes/205108732/lastsale
US : U.S.: NYSE
$ 35.35
-0.65 -1.81%
Volume: 209,931
April 1, 2020 6:30p
P/E Ratio
29.35
Dividend Yield
4.78%
Market Cap
$7.60 billion
Rev. per Employee
$678,384
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 8.03
-0.10 -1.23%
Volume: 188.80M
April 1, 2020 4:08p
P/E Ratio
5.18
Dividend Yield
9.71%
Market Cap
HK$362.98 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/204964401/lastsale
US : U.S.: NYSE
$ 100.93
-2.54 -2.45%
Volume: 209,608
April 1, 2020 6:30p
P/E Ratio
5.35
Dividend Yield
8.89%
Market Cap
$46.20 billion
Rev. per Employee
$1.78M
loading...
/zigman2/quotes/205368474/delayed
AU : Australia: Sydney
$ 0.49
+0.0050 +1.03%
Volume: 935,416
April 2, 2020 11:33a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$246.08 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/207550848/delayed
US : U.S.: OTC
$ 0.28
+0.01 +3.70%
Volume: 8,500
March 30, 2020 3:07p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$153.73 million
Rev. per Employee
N/A
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