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Nov. 17, 2019, 11:21 p.m. EST

Asian markets mostly rise as traders cautiously await trade developments

Stocks gain in Japan, Hong Kong and Shanghai

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By Associated Press and Marketwatch


Bloomberg News
Commercial buildings stand illuminated at dusk in Hong Kong.

Asian shares were mixed Monday in a cautious mode after Wall Street closed out the week with milestones as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs.

Japan’s benchmark Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.40%   inched up nearly 0.4% in morning trading. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.59%   fell 0.6% while South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.42%   lost 0.3%. Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.31%   added 1.1% while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +1.39%   was up nearly 0.6%.

Among individual stocks, shares of Yahoo Japan parent Z Holdings /zigman2/quotes/207641152/delayed JP:4689 0.00%  , majority stakeholder SoftBank /zigman2/quotes/207303954/delayed JP:9984 +4.52%   and Line /zigman2/quotes/205382025/delayed JP:3938 +0.91%   rose in Tokyo trading after a merger deal was announced between the internet portal and the country’s leading chat app. In Hong Kong, Geely Automobile /zigman2/quotes/200716015/delayed HK:175 -0.35%  , Wharf Real Estate /zigman2/quotes/205885756/delayed HK:1997 -3.61%   and AIA Group /zigman2/quotes/203565558/delayed HK:1299 -0.39%   surged. LG Electronics /zigman2/quotes/209966407/delayed KR:066570 +1.96%   gained in South Korea, while Westpac /zigman2/quotes/203084975/delayed AU:WBC +0.39%   slipped in Australia.

“Market focus this week will still lies on the U.S.-China trade talk, and updates in Hong Kong. Hong Kong domestic economy is on the verge of a recession as recent riot has adversely hurt its retail, service, tourism, aviation, education sectors and has caused severe reputational damage to the city as one of Asia’s most important financial hub,” said Margaret Yang Yan, analyst at CMC Markets in Singapore.

On Wall Street, health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly gain. The Dow extended its streak of weekly gains to four.

Investors have been encouraged by surprisingly good corporate earnings, three interest rate cuts by the Federal Reserve and data showing the economy is still growing solidly.

Hopes that the U.S. and China can make progress in their latest push for a trade deal have also helped keep investors in a buying mood.

The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.78%   rose 23.83 points, or 0.8%, to 3,120.46. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.68%   gained 222.93 points, or 0.8%, to 28,004.89. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +1.44%   climbed 61.81, or 0.7%, to 8,540.83.

The S&P, Dow and Nasdaq are now all up by more than 20% for the year.

Traders hope the world’s two biggest economies can make a deal before new and more damaging tariffs take effect next month. Beijing is pressing Washington to roll back tariffs as part of a potential deal that the nations are trying to hammer out.

Benchmark crude oil   added 8 cents to $57.80 a barrel. It rose 95 cents to $57.72 a barrel on Friday. Brent crude  , the international standard, inched up 2 cents to $63.32 a barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0186%   rose to 108.84 Japanese yen from 108.70 yen Friday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,529.29
+90.64 +0.40%
Volume: 0.00
July 9, 2020 3:15p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,955.50
+35.20 +0.59%
Volume: 681,269
July 9, 2020 5:17p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,167.90
+9.02 +0.42%
Volume: 619,368
July 9, 2020 3:32p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,210.16
+80.98 +0.31%
Volume: 2.45M
July 9, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,450.59
+47.15 +1.39%
Volume: 62.00B
July 9, 2020 3:01p
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/zigman2/quotes/207641152/delayed
JP : Japan: Tokyo
¥ 540.00
0.00 0.00%
Volume: 19.41M
July 9, 2020 3:00p
P/E Ratio
32.14
Dividend Yield
1.64%
Market Cap
¥2566.97 billion
Rev. per Employee
¥77.26M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,291.00
+272.00 +4.52%
Volume: 33.66M
July 9, 2020 3:00p
P/E Ratio
42.21
Dividend Yield
0.70%
Market Cap
¥12800.89 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/205382025/delayed
JP : Japan: Tokyo
¥ 5,530.00
+50.00 +0.91%
Volume: 232,300
July 9, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
¥1339.01 billion
Rev. per Employee
¥40.62M
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 16.94
-0.06 -0.35%
Volume: 123.64M
July 9, 2020 4:08p
P/E Ratio
16.74
Dividend Yield
1.48%
Market Cap
HK$166.23 billion
Rev. per Employee
HK$3.04M
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/zigman2/quotes/205885756/delayed
HK : Hong Kong
HK$ 33.40
-1.25 -3.61%
Volume: 6.97M
July 9, 2020 4:08p
P/E Ratio
25.81
Dividend Yield
6.08%
Market Cap
HK$108.39 billion
Rev. per Employee
HK$5.68M
loading...
/zigman2/quotes/203565558/delayed
HK : Hong Kong
HK$ 76.50
-0.30 -0.39%
Volume: 24.78M
July 9, 2020 4:08p
P/E Ratio
17.72
Dividend Yield
1.65%
Market Cap
HK$923.12 billion
Rev. per Employee
HK$12.98M
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
67,700.00
+1,300 +1.96%
Volume: 984,866
July 9, 2020 3:30p
P/E Ratio
25.09
Dividend Yield
1.11%
Market Cap
₩11110.50 billion
Rev. per Employee
N/A
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/zigman2/quotes/203084975/delayed
AU : Australia: Sydney
$ 17.91
+0.07 +0.39%
Volume: 6.49M
July 9, 2020 4:10p
P/E Ratio
13.46
Dividend Yield
9.72%
Market Cap
$65.48 billion
Rev. per Employee
$1.09M
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/zigman2/quotes/210599714/realtime
US : S&P US
3,169.94
+24.62 +0.78%
Volume: 2.39B
July 8, 2020 4:58p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,067.28
+177.10 +0.68%
Volume: 337.30M
July 8, 2020 4:58p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
10,492.50
+148.61 +1.44%
Volume: 3.67M
July 8, 2020 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.2780
+0.0200 +0.0186%
Volume: 0.0000
July 9, 2020 8:31a
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