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Jan. 13, 2020, 11:26 p.m. EST

Asian markets mixed after U.S. elevates China from currency manipulator

Investors optimistic ahead of signing of ‘phase one’ trade deal

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By Marketwatch


Reuters
U.S. and Chinese banknotes.

Asian markets were mixed in early trading Tuesday, after the U.S. said China is no longer a currency manipulator ahead of the signing of a “phase one” trade agreement this week.

The U.S. Treasury Department stepped back from the decision it made last year, saying in a statement that it “has determined that China should no longer be designated as a currency manipulator at this time.”

The U.S. and China are expected to sign a “phase one” trade deal Wednesday in Washington, which the Treasury Department said will include enforceable commitments by China to refrain from currency devaluation and not target its exchange rate for competitive purposes.

“Investors’ unquenchable appetite for stocks is in hyperdrive, triggered by a further thawing in U.S.-China trade tension,” Stephen Innes, chief Asia market strategist for AxiTrader, wrote in a note.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +1.40%   gained 0.7% as traders returned from a holiday Monday. Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.61%   gave up early gains and was last down about 0.2%, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.27%   was about flat and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.76%  dipped slightly after data showed China’s exports rose 5% in 2019 on yuan terms, the slowest growth in three years. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.11%   rose 0.4%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.97%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.61%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.41%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.69%   were mostly positive. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +1.67%   advanced 0.7%.

Among individual stocks, Sony /zigman2/quotes/201361720/delayed JP:6758 +4.22%   Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 +2.05%   and SoftBank /zigman2/quotes/207303954/delayed JP:9984 -1.96%   advanced in Tokyo trading, while Nissan /zigman2/quotes/208298710/delayed JP:7201 +4.26%   sank. In Hong Kong, casino operators Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 +0.48%   and Sands China /zigman2/quotes/207609245/delayed HK:1928 +0.34%   rose, while AAC /zigman2/quotes/201441510/delayed HK:2018 -1.05%   and Geely Automobile /zigman2/quotes/200716015/delayed HK:175 +0.96%   fell. LG Electronics /zigman2/quotes/209966407/delayed KR:066570 +1.08%   and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.12%   advanced in South Korea, and Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 +1.08%   gained in Taiwan. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +2.81%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +1.85%   rose in Australia.

On Monday, the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.72%   rose 22.78 points, or 0.7%, to 3,288.13. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +1.47%   climbed 95.07 points, or 1%, to 9,273.93, and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.89%   gained 83.28 points, or 0.3%, to 28,907.05.

Benchmark crude oil   rose 13 cents to $58.21 a barrel, after falling 96 cents to $58.08 a barrel on Monday. Brent crude oil  , the international standard, rose 19 cents to $64.39 a barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1604%   rose to 110.09 Japanese yen from 109.89 yen on Monday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,505.83
+310.45 +1.40%
Volume: 0.00
Aug. 4, 2020 11:30a
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,606.86
+148.73 +0.61%
Volume: 561,131
Aug. 4, 2020 11:18a
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,358.75
-9.21 -0.27%
Volume: 25.49B
Aug. 4, 2020 11:18a
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,297.83
-17.61 -0.76%
Volume: 34.80B
Aug. 4, 2020 11:18a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,276.09
+25.05 +1.11%
Volume: 440,357
Aug. 4, 2020 12:13p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
12,634.65
+121.62 +0.97%
Volume: 0.00
Aug. 4, 2020 11:13a
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,500.03
+15.12 +0.61%
Volume: 0.00
Aug. 4, 2020 11:18a
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,566.09
-6.52 -0.41%
Volume: 0.00
Aug. 4, 2020 11:18a
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,040.92
+34.70 +0.69%
Volume: 0.00
Aug. 4, 2020 10:23a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,025.20
+99.10 +1.67%
Volume: 303,529
Aug. 4, 2020 1:13p
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 8,665.00
+351.00 +4.22%
Volume: 5.81M
Aug. 4, 2020 11:30a
P/E Ratio
18.80
Dividend Yield
0.52%
Market Cap
¥9854.01 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 58,840.00
+1,180 +2.05%
Volume: 225,300
Aug. 4, 2020 11:30a
P/E Ratio
63.64
Dividend Yield
0.82%
Market Cap
¥5722.34 billion
Rev. per Employee
¥40.83M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,796.00
-136.00 -1.96%
Volume: 15.20M
Aug. 4, 2020 11:30a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥13638.43 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/208298710/delayed
JP : Japan: Tokyo
¥ 386.50
+15.80 +4.26%
Volume: 11.85M
Aug. 4, 2020 11:30a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥1412.62 billion
Rev. per Employee
¥85.36M
loading...
/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 52.70
+0.25 +0.48%
Volume: 1.16M
Aug. 4, 2020 11:17a
P/E Ratio
17.56
Dividend Yield
1.73%
Market Cap
HK$228.90 billion
Rev. per Employee
HK$1.44M
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
HK$ 29.80
+0.10 +0.34%
Volume: 3.16M
Aug. 4, 2020 11:17a
P/E Ratio
15.13
Dividend Yield
3.32%
Market Cap
HK$242.67 billion
Rev. per Employee
HK$1.41M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 61.35
-0.65 -1.05%
Volume: 2.63M
Aug. 4, 2020 11:18a
P/E Ratio
29.60
Dividend Yield
0.65%
Market Cap
HK$74.56 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 16.76
+0.16 +0.96%
Volume: 16.57M
Aug. 4, 2020 11:18a
P/E Ratio
16.56
Dividend Yield
1.49%
Market Cap
HK$159.95 billion
Rev. per Employee
HK$3.04M
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
74,800.00
+800.00 +1.08%
Volume: 468,430
Aug. 4, 2020 12:13p
P/E Ratio
27.72
Dividend Yield
1.00%
Market Cap
₩11978.12 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
81,900.00
+100.00 +0.12%
Volume: 1.36M
Aug. 4, 2020 12:13p
P/E Ratio
24.51
Dividend Yield
1.22%
Market Cap
₩56635.35 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 420.50
+4.50 +1.08%
Volume: 24.94M
Aug. 4, 2020 11:13a
P/E Ratio
23.97
Dividend Yield
2.38%
Market Cap
NT$11033.38 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.47
+0.04 +2.81%
Volume: 5.71M
Aug. 4, 2020 1:12p
P/E Ratio
5.84
Dividend Yield
1.37%
Market Cap
$3.23 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 104.91
+1.91 +1.85%
Volume: 653,042
Aug. 4, 2020 1:13p
P/E Ratio
15.98
Dividend Yield
5.40%
Market Cap
$143.00 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,294.61
+23.49 +0.72%
Volume: 2.38B
Aug. 3, 2020 4:54p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
10,902.80
+157.52 +1.47%
Volume: 3.82M
Aug. 3, 2020 5:16p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,664.40
+236.08 +0.89%
Volume: 439.38M
Aug. 3, 2020 4:54p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
106.1230
+0.1700 +0.1604%
Volume: 0.0000
Aug. 3, 2020 11:33p
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