Bulletin
Investor Alert

New York Markets Close in:

Asia Markets Archives | Email alerts

Dec. 16, 2019, 11:57 p.m. EST

Asian markets gain after record highs on Wall Street

Strong economic data from China helps boost Nikkei, Hang Seng

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    NIKKEI 225 Index (NIK)
  • X
    KOSPI Composite Index (180721)
  • X
    Hang Seng Index (HSI)

or Cancel Already have a watchlist? Log In

By Associated Press and Marketwatch


Associated Press
A currency trader stands near screens showing the Korea Composite Stock Price Index, center, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul on Tuesday.

Asian shares rose Tuesday following a rally on Wall Street that sent the major indexes to record highs, cheered by surprisingly strong economic reports out of China.

Japan’s benchmark Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +1.78%   added 0.5% in early trading. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.21%   gained 1.1%. Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.05%   added 1.1%, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.04%   rose 0.9%. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.67%   was little changed.

Among individual stocks, oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 -0.60%   gained in Tokyo trading, along with SoftBank /zigman2/quotes/207303954/delayed JP:9984 +3.73%   and Konami /zigman2/quotes/204275993/delayed JP:9766 +1.78%  . In Hong Kong, CNOOC /zigman2/quotes/203421416/delayed HK:883 +1.12%  , Tencent /zigman2/quotes/204605823/delayed HK:700 -2.02%   and Country Garden /zigman2/quotes/201681083/delayed HK:2007 +0.20%   advanced. Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.51%   surged in South Korea, and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +0.11%   and Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -0.34%   rose in Australia.

On Wall Street, the S&P 500 and Nasdaq notched all-time highs for the third straight trading day. The Dow Jones Industrial Average bested its last record high set in late November.

Among the reports out of China helping drive the rally were growth in factory activity and retail sales in the world’s second-largest economy that both beat analysts’ expectations for last month.

The market got a big confidence boost late last week after the United States and China reached a long-awaited “phase one” trade deal. The trade pact removed some of the uncertainty that’s hung over businesses and investors.

“What’s important about it is that we’re not witnessing an acceleration in the trade war,” said Quincy Krosby, chief market strategist at Prudential Financial. “Right now, what the market is looking at is the possibility that we go into 2020 and we actually see global growth beginning to emerge, even if it’s not immediate.”

The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.01%   rose 22.65 points, or 0.7%, to 3,191.45. The benchmark index is on a four-day winning streak. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.20%   gained 100.51 points, or 0.4%, to 28,235.89. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +0.57%   climbed 79.35 points, or 0.9%, to 8,814.23.

The U.S. and China agreed last week to cut tariffs on some of each others’ goods and postpone other tariff threats, the first time the two countries have stepped back from the brink in their 17-month trade fight.

In return, China promised to ramp up its purchases of U.S. agricultural, energy and other goods and to stop forcing U.S. companies to turn over technology as a condition of doing business in that country.

The interim trade deal is one of a “trifecta of positive catalysts” that swept through the market last week and could help support it through the end of the year, Morgan Stanley strategists wrote in a research note. The others are a Federal Reserve that appears committed to keeping interest rates low and the potential for an orderly exit by the United Kingdom from the European Union following last week’s U.K. elections.

Benchmark U.S. crude   slipped 4 cents to $60.17 a barrel. It rose 14 cents to $60.21 a barrel Monday. Brent crude  , the international standard, stood unchanged at $65.34 per barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0318%   rose to 109.52 Japanese yen from 109.42 yen on Friday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,249.61
+405.65 +1.78%
Volume: 0.00
Aug. 13, 2020 3:15p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,437.53
+5.18 +0.21%
Volume: 907,218
Aug. 13, 2020 3:33p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
25,230.67
-13.35 -0.05%
Volume: 1.76M
Aug. 13, 2020 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,320.73
+1.46 +0.04%
Volume: 32.43B
Aug. 13, 2020 3:01p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,091.00
-41.00 -0.67%
Volume: 874,605
Aug. 13, 2020 5:32p
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 694.20
-4.20 -0.60%
Volume: 7.87M
Aug. 13, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
3.46%
Market Cap
¥1019.81 billion
Rev. per Employee
¥291.81M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,423.00
+231.00 +3.73%
Volume: 18.66M
Aug. 13, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥12052.70 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/204275993/delayed
JP : Japan: Tokyo
¥ 3,995.00
+70.00 +1.78%
Volume: 772,000
Aug. 13, 2020 3:00p
P/E Ratio
32.46
Dividend Yield
1.50%
Market Cap
¥522.87 billion
Rev. per Employee
¥53.86M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 8.99
+0.10 +1.12%
Volume: 60.74M
Aug. 13, 2020 4:08p
P/E Ratio
5.80
Dividend Yield
8.68%
Market Cap
HK$396.92 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 510.00
-10.50 -2.02%
Volume: 27.25M
Aug. 13, 2020 4:08p
P/E Ratio
42.61
Dividend Yield
0.24%
Market Cap
HK$4944.40 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/201681083/delayed
HK : Hong Kong
HK$ 10.26
+0.02 +0.20%
Volume: 7.43M
Aug. 13, 2020 4:08p
P/E Ratio
5.07
Dividend Yield
6.10%
Market Cap
HK$222.64 billion
Rev. per Employee
HK$3.60M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
58,700.00
-300.00 -0.51%
Volume: 22.09M
Aug. 13, 2020 3:30p
P/E Ratio
18.73
Dividend Yield
2.41%
Market Cap
₩393937.57 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 101.51
+0.11 +0.11%
Volume: 1.86M
Aug. 13, 2020 4:10p
P/E Ratio
15.46
Dividend Yield
5.58%
Market Cap
$147.25 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.45
-0.0050 -0.34%
Volume: 6.12M
Aug. 13, 2020 4:10p
P/E Ratio
5.78
Dividend Yield
1.38%
Market Cap
$3.32 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,380.69
+0.34 +0.01%
Volume: 1.04B
Aug. 13, 2020 1:29p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,921.18
-55.66 -0.20%
Volume: 208.69M
Aug. 13, 2020 1:29p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,074.70
+62.47 +0.57%
Volume: 1.92M
Aug. 13, 2020 1:29p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
106.9260
+0.0340 +0.0318%
Volume: 0.0000
Aug. 13, 2020 1:29p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.