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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 +1.05%   gained 0.7% as traders returned from a holiday Monday. Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.47%   gave up early gains and was last down about 0.2%, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.04%   was about flat and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.17%  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 +0.61%   rose 0.4%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.79%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +1.74%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.88%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.51%   were mostly positive. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +1.74%   advanced 0.7%.

Among individual stocks, Sony /zigman2/quotes/201361720/delayed JP:6758 +0.18%   Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 +0.22%   and SoftBank /zigman2/quotes/207303954/delayed JP:9984 -0.10%   advanced in Tokyo trading, while Nissan /zigman2/quotes/208298710/delayed JP:7201 -0.33%   sank. In Hong Kong, casino operators Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 +0.20%   and Sands China /zigman2/quotes/207609245/delayed HK:1928 -2.11%   rose, while AAC /zigman2/quotes/201441510/delayed HK:2018 -0.35%   and Geely Automobile /zigman2/quotes/200716015/delayed HK:175 -1.22%   fell. LG Electronics /zigman2/quotes/209966407/delayed KR:066570 -0.67%   and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.36%   advanced in South Korea, and Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 +0.50%   gained in Taiwan. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +2.50%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +4.01%   rose in Australia.

On Monday, the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.95%   rose 22.78 points, or 0.7%, to 3,288.13. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +1.55%   climbed 95.07 points, or 1%, to 9,273.93, and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.85%   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 +0.0286%   rose to 110.09 Japanese yen from 109.89 yen on Monday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
29,168.52
+304.20 +1.05%
Volume: 0.00
March 8, 2021 10:15a
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,098.29
-138.50 -0.47%
Volume: 12,500
March 8, 2021 9:06a
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,501.99
-1.50 -0.04%
Volume: 35.64B
March 5, 2021 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,298.60
+3.93 +0.17%
Volume: 38.05B
March 5, 2021 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,044.85
+18.59 +0.61%
Volume: 441,993
March 8, 2021 10:15a
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
15,980.43
+125.20 +0.79%
Volume: 0.00
March 8, 2021 9:15a
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,066.37
+52.52 +1.74%
Volume: 0.00
March 8, 2021 9:20a
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,614.23
+14.11 +0.88%
Volume: 0.00
March 8, 2021 9:20a
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,258.75
-32.05 -0.51%
Volume: 0.00
March 5, 2021 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,827.50
+116.70 +1.74%
Volume: 288,928
March 8, 2021 12:15p
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 11,235.00
+20.00 +0.18%
Volume: 1.69M
March 8, 2021 10:15a
P/E Ratio
13.03
Dividend Yield
0.49%
Market Cap
¥13866.09 billion
Rev. per Employee
¥73.75M
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 96,080.00
+210.00 +0.22%
Volume: 313,800
March 8, 2021 10:14a
P/E Ratio
109.41
Dividend Yield
0.50%
Market Cap
¥9789.83 billion
Rev. per Employee
¥34.80M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 10,045.00
-10.00 -0.10%
Volume: 4.91M
March 8, 2021 10:15a
P/E Ratio
12.99
Dividend Yield
0.00%
Market Cap
¥18115.54 billion
Rev. per Employee
¥76.45M
loading...
/zigman2/quotes/208298710/delayed
JP : Japan: Tokyo
¥ 602.20
-2.00 -0.33%
Volume: 6.92M
March 8, 2021 10:15a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥2364.32 billion
Rev. per Employee
¥71.69M
loading...
/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 73.55
+0.15 +0.20%
Volume: 17.65M
March 5, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$319.91 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
HK$ 37.10
-0.80 -2.11%
Volume: 79,600
March 5, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$300.18 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 42.85
-0.15 -0.35%
Volume: 100,681
March 5, 2021 4:08p
P/E Ratio
26.28
Dividend Yield
0.23%
Market Cap
HK$51.78 billion
Rev. per Employee
HK$514,884
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 24.35
-0.30 -1.22%
Volume: 898.00
March 5, 2021 4:08p
P/E Ratio
31.35
Dividend Yield
1.03%
Market Cap
HK$239.09 billion
Rev. per Employee
HK$3.04M
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
147,500
-1,000 -0.67%
Volume: 297,289
March 8, 2021 10:15a
P/E Ratio
31.90
Dividend Yield
0.81%
Market Cap
₩25384.19 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
140,500
+500.00 +0.36%
Volume: 1.99M
March 8, 2021 10:15a
P/E Ratio
20.21
Dividend Yield
0.83%
Market Cap
₩95760.26 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 604.00
+3.00 +0.50%
Volume: 9.49M
March 8, 2021 9:15a
P/E Ratio
30.24
Dividend Yield
1.66%
Market Cap
NT$15584.16 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.74
+0.04 +2.50%
Volume: 4.21M
March 8, 2021 12:15p
P/E Ratio
11.35
Dividend Yield
1.15%
Market Cap
$3.87 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 122.40
+4.72 +4.01%
Volume: 378,404
March 8, 2021 12:15p
P/E Ratio
14.26
Dividend Yield
5.02%
Market Cap
$175.22 billion
Rev. per Employee
$1.36M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,841.94
+73.47 +1.95%
Volume: 3.33B
March 5, 2021 5:44p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
12,920.15
+196.68 +1.55%
Volume: 6.71M
March 5, 2021 5:16p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,496.30
+572.16 +1.85%
Volume: 505.35M
March 5, 2021 5:44p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.4110
+0.0310 +0.0286%
Volume: 0.0000
March 7, 2021 8:35p
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