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Sept. 5, 2019, 11:07 p.m. EDT

Asian markets gain on trade-deal hopes, positive U.S. economic data

Nikkei, Hang Seng advance following Wall Street rally

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By Associated Press and Marketwatch


Reuters
Pedestrians cross a street in Tokyo’s financial district.

Asian shares rose Friday as investors cheered plans for more trade negotiations between Washington and Beijing and drew encouragement from positive data about the U.S. economy.

Japan’s benchmark Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.56%   gained 0.6% in morning trading, and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.65%   rose 0.5%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.09%   edged up 0.3%. Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.09%   rose 0.6%, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.16%  inched up nearly 0.2%. Benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.22%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.38%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.07%   rose.

Among individual stocks, Honda /zigman2/quotes/200490352/delayed JP:7267 -0.05%   rose in Tokyo trading, while Rakuten /zigman2/quotes/201861450/delayed JP:4755 +2.23%   and SoftBank /zigman2/quotes/207303954/delayed JP:9984 +0.19%   sank. In Hong Kong, AAC /zigman2/quotes/201441510/delayed HK:2018 -0.65%   and Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +1.45%   surged, along with casino operator Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 +0.29%  . Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.20%   gained in South Korea while Apple component maker Largan Precision /zigman2/quotes/210444196/delayed TW:3008 -1.71%   fell in Taiwan. In Australia, Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -1.49%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +0.58%   advanced.

“Indeed it is a positive sign that meetings will take place at multiple levels,” said Zhu Huani of the Asia & Oceania Treasury Department of Mizuho Bank, referring to the talks between the U.S. and China.

“As limited progress is expected, there will still be many twists and turns along the way and hurdle for more good news is substantially higher. Therefore, we think the rally could be short-lived without more breakthroughs.”

The Dow Jones Industrial Average surged nearly 400 points, bond yields jumped and the price of gold fell as investors regained a bigger appetite for riskier holdings.

Markets have been rattled this summer as the longstanding trade war between the U.S. and China escalated. Past rounds of negotiations have failed to yield progress. Even so, news Thursday that envoys from Washington and Beijing plan to hold talks next month elicited fresh optimism on Wall Street that the world’s largest economies may yet find a way to resolve their costly trade war.

Investors have been worried that uncertainty over the conflict and the fallout from tariffs goods imposed by both sides will exacerbate a slowdown in global economic growth and hurt corporate profits.

The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.28%   gained 38.22 points, or 1.3%, to 2,976. The benchmark index is now 1.7% shy of its most recent all-time high set in late July. The Dow /zigman2/quotes/210598065/realtime DJIA +0.09%   rose 372.68 points, or 1.4%, to 26,728.15. The average was briefly up by 480 points. The Nasdaq /zigman2/quotes/210598365/realtime COMP +0.40%   climbed 139.95 points, or 1.8%, to 8,116.83.

Negotiations between the world’s largest economies have been tenuous and the trade war has been escalating with expanded tariffs on each other’s products.

The latest escalation kicked in Sunday, with the U.S. imposing 15% tariffs on $112 billion of Chinese imports. Washington is planning to hit another $160 billion on Dec. 15, a move that would extend penalties to almost everything the United States buys from China. Beijing responded by imposing duties of 10% and 5% on a range of American imports.

U.S. tariffs of 25% imposed previously on $250 billion of Chinese goods are due to rise to 30% on Oct. 1.

Positive data about the U.S. economy are also boosting shares. Payroll processor ADP reported that U.S. businesses added 195,000 jobs in August, well above economists’ expectations.

The private report frequently diverges from the government’s own employment report, which is scheduled to be released Friday. Economists expect that report will show 160,000 jobs were added.

The U.S. Labor Department reported that overall productivity rose 2.3% during the second quarter, also beating economists’ growth forecasts.

Benchmark crude oil   edged up 11 cents to $56.41 a barrel. It rose 4 cents to settle at $56.30 a barrel Thursday. Brent crude oil  , the international standard, added 8 cents to $61.03 a barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0884%   rose to 107.02 Japanese yen from 106.72 yen on Thursday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,576.96
+125.10 +0.56%
Volume: 0.00
Oct. 18, 2019 11:35a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,641.20
-43.50 -0.65%
Volume: 368,528
Oct. 18, 2019 2:10p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,079.79
+1.85 +0.09%
Volume: 223,245
Oct. 18, 2019 12:10p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,822.99
-25.50 -0.09%
Volume: 463,021
Oct. 18, 2019 11:15a
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,972.59
-4.74 -0.16%
Volume: 6.24B
Oct. 18, 2019 11:10a
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
11,162.64
-24.24 -0.22%
Volume: 0.00
Oct. 18, 2019 11:10a
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,114.28
-11.86 -0.38%
Volume: 0.00
Oct. 18, 2019 11:15a
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,185.40
+4.39 +0.07%
Volume: 0.00
Oct. 18, 2019 10:20a
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/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,908.00
-1.50 -0.05%
Volume: 1.32M
Oct. 18, 2019 11:30a
P/E Ratio
9.51
Dividend Yield
3.85%
Market Cap
¥5137.99 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/201861450/delayed
JP : Japan: Tokyo
¥ 1,053.00
+23.00 +2.23%
Volume: 6.30M
Oct. 18, 2019 11:30a
P/E Ratio
8.09
Dividend Yield
0.43%
Market Cap
¥1368.86 billion
Rev. per Employee
¥74.20M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 4,303.00
+8.00 +0.19%
Volume: 4.98M
Oct. 18, 2019 11:30a
P/E Ratio
4.22
Dividend Yield
1.02%
Market Cap
¥8800.36 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 45.75
-0.30 -0.65%
Volume: 2.78M
Oct. 18, 2019 11:15a
P/E Ratio
17.45
Dividend Yield
3.13%
Market Cap
HK$54.50 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 119.00
+1.70 +1.45%
Volume: 2.51M
Oct. 18, 2019 11:15a
P/E Ratio
41.39
Dividend Yield
0.56%
Market Cap
HK$126.14 billion
Rev. per Employee
HK$1.08M
loading...
/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 51.35
+0.15 +0.29%
Volume: 2.11M
Oct. 18, 2019 11:14a
P/E Ratio
17.17
Dividend Yield
1.77%
Market Cap
HK$221.82 billion
Rev. per Employee
HK$1.44M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
50,600.00
+100.00 +0.20%
Volume: 3.73M
Oct. 18, 2019 12:10p
P/E Ratio
10.92
Dividend Yield
2.80%
Market Cap
₩344388.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210444196/delayed
TW : Taiwan
NT$ 4,320.00
-75.00 -1.71%
Volume: 259,000
Oct. 18, 2019 11:08a
P/E Ratio
22.06
Dividend Yield
1.57%
Market Cap
NT$586.86 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 2.32
-0.04 -1.49%
Volume: 2.91M
Oct. 18, 2019 2:10p
P/E Ratio
9.16
Dividend Yield
0.86%
Market Cap
$5.40 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 87.73
+0.51 +0.58%
Volume: 759,284
Oct. 18, 2019 2:10p
P/E Ratio
7.99
Dividend Yield
10.23%
Market Cap
$146.34 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
2,997.95
+8.26 +0.28%
Volume: 1.62B
Oct. 17, 2019 5:02p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,025.88
+23.90 +0.09%
Volume: 225.06M
Oct. 17, 2019 5:02p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
8,156.85
+32.67 +0.40%
Volume: 1.68M
Oct. 17, 2019 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullet Prebon
108.5470
-0.0960 -0.0884%
Volume: 0.0000
Oct. 17, 2019 11:30p
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