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June 20, 2019, 2:00 a.m. EDT

Asian markets rise as Fed leaves itself wiggle room, hopes for trade talks rekindled

Shanghai Composite leads gains across the board

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By Marketwatch and Associated Press


Reuters
Shares of Geely Automobile rose in Hong Kong after the company made a deal for self-driving-car software.

Asian markets gained Thursday after the U.S. Federal Reserve kept interest rates unchanged, but indicated it is ready to make ease monetary policy if needed.

The Fed said it will “closely monitor” the economy given increasing uncertainty about government policy, though it signaled it may not need to lower rates before 2020. But Chairman Jerome Powell indicated that the central bank is prepared to cut interest rates if necessary.

There was also encouraging news on the trade front, as U.S. Trade Representative Robert Lighthizer said he plans to meet his Chinese counterpart ahead of the G-20 summit next week. “When actual negotiations begin again, I can’t say at this point,” Lighthizer said. “We’re talking. We’re going to meet.” The U.S. and China broke off trade negotiations in early May and have not met since.

Leading the Asian region higher, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -1.95%   surged 2% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.31%   advanced 1.7%.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -1.06%   rose 0.6% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.84%   gained 0.9%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.81%   was up 0.2%, while Singapore’s /zigman2/quotes/210597985/delayed SG:STI -0.63% benchmark index jumped 0.9% and indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.98%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.43%   were modestly up. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.61%   rose 0.5%.

Among individual stocks, Uniqlo parent Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 -3.34%   rose in Tokyo trading, along with Sony /zigman2/quotes/201361720/delayed JP:6758 +1.39%   and e-commerce company Rakuten /zigman2/quotes/201861450/delayed JP:4755 -1.59%  . In Hong Kong, Geely Automobile /zigman2/quotes/200716015/delayed HK:175 +3.90%  , parent of Volvo Cars, gained after announcing a deal with Sweden’s Zenuity to supply it with self-driving software . China Life Insurance /zigman2/quotes/202359856/delayed HK:2628 -6.70%   and Tencent /zigman2/quotes/204605823/delayed HK:700 -2.93%  also rose. Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.19%   inched down in South Korea and Foxconn /zigman2/quotes/204111604/delayed TW:2354 -1.55%   advanced in Taiwan. Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -0.69%   sank in Australia, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -2.41%   gained.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,383.32
-67.27 -1.95%
Volume: 55.61B
July 10, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,251.00
-6.95 -0.31%
Volume: 69.67B
July 10, 2020 3:00p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
22,290.81
-238.48 -1.06%
Volume: 0.00
July 10, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
25,727.41
-482.75 -1.84%
Volume: 2.14M
July 10, 2020 4:08p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,150.25
-17.65 -0.81%
Volume: 886,987
July 10, 2020 3:32p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,652.65
-16.84 -0.63%
Volume: 0.00
July 9, 2020 5:20p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
12,073.68
-119.01 -0.98%
Volume: 0.00
July 10, 2020 1:33p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,031.26
-21.54 -0.43%
Volume: 0.00
July 10, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,919.20
-36.30 -0.61%
Volume: 565,369
July 10, 2020 5:10p
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/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 60,280.00
-2,080 -3.34%
Volume: 1.58M
July 10, 2020 3:00p
P/E Ratio
65.20
Dividend Yield
0.80%
Market Cap
¥6366.55 billion
Rev. per Employee
¥40.83M
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,780.00
+107.00 +1.39%
Volume: 8.90M
July 10, 2020 3:00p
P/E Ratio
16.88
Dividend Yield
0.58%
Market Cap
¥9362.29 billion
Rev. per Employee
¥72.37M
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/zigman2/quotes/201861450/delayed
JP : Japan: Tokyo
¥ 988.00
-16.00 -1.59%
Volume: 6.83M
July 10, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.46%
Market Cap
¥1361.68 billion
Rev. per Employee
¥74.20M
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/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 17.60
+0.66 +3.90%
Volume: 180.71M
July 10, 2020 4:08p
P/E Ratio
17.39
Dividend Yield
1.42%
Market Cap
HK$166.23 billion
Rev. per Employee
HK$3.04M
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/zigman2/quotes/202359856/delayed
HK : Hong Kong
HK$ 19.50
-1.40 -6.70%
Volume: 124.37M
July 10, 2020 4:08p
P/E Ratio
8.29
Dividend Yield
4.10%
Market Cap
HK$1171.88 billion
Rev. per Employee
HK$7.60M
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/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 546.50
-16.50 -2.93%
Volume: 23.46M
July 10, 2020 4:08p
P/E Ratio
49.21
Dividend Yield
0.22%
Market Cap
HK$5332.97 billion
Rev. per Employee
HK$8.27M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
52,700.00
-100.00 -0.19%
Volume: 13.71M
July 10, 2020 3:30p
P/E Ratio
16.82
Dividend Yield
2.69%
Market Cap
₩353468.79 billion
Rev. per Employee
N/A
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/zigman2/quotes/204111604/delayed
TW : Taiwan
NT$ 57.10
-0.90 -1.55%
Volume: 3.10M
July 10, 2020 1:30p
P/E Ratio
11.86
Dividend Yield
4.38%
Market Cap
NT$82.04 billion
Rev. per Employee
NT$888.52M
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/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 97.99
-0.68 -0.69%
Volume: 1.08M
July 10, 2020 4:10p
P/E Ratio
13.97
Dividend Yield
6.71%
Market Cap
$140.66 billion
Rev. per Employee
$1.14M
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/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.42
-0.04 -2.41%
Volume: 10.09M
July 10, 2020 4:10p
P/E Ratio
5.64
Dividend Yield
1.41%
Market Cap
$3.31 billion
Rev. per Employee
N/A
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