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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 -0.13%   surged 2% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.73%   advanced 1.7%.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.41%   rose 0.6% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.01%   gained 0.9%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.03%   was up 0.2%, while Singapore’s /zigman2/quotes/210597985/delayed SG:STI -0.72% benchmark index jumped 0.9% and indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.49%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.79%   were modestly up. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.48%   rose 0.5%.

Among individual stocks, Uniqlo parent Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 -0.78%   rose in Tokyo trading, along with Sony /zigman2/quotes/201361720/delayed JP:6758 -0.66%   and e-commerce company Rakuten /zigman2/quotes/201861450/delayed JP:4755 +3.29%  . In Hong Kong, Geely Automobile /zigman2/quotes/200716015/delayed HK:175 -2.18%  , 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 +0.91%   and Tencent /zigman2/quotes/204605823/delayed HK:700 +1.48%  also rose. Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.75%   inched down in South Korea and Foxconn /zigman2/quotes/204111604/delayed TW:2354 +0.78%   advanced in Taiwan. Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -1.19%   sank in Australia, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.37%   gained.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,358.01
-4.32 -0.13%
Volume: 16.04B
Nov. 26, 2020 12:00p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,237.74
-16.56 -0.73%
Volume: 20.11B
Nov. 26, 2020 11:30a
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/zigman2/quotes/210597971/delayed
JP : Nikkei
26,405.04
+108.18 +0.41%
Volume: 0.00
Nov. 26, 2020 12:55p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,672.52
+2.77 +0.01%
Volume: 814,829
Nov. 26, 2020 12:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,602.28
+0.74 +0.03%
Volume: 829,184
Nov. 26, 2020 12:55p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,848.76
-20.79 -0.72%
Volume: 0.00
Nov. 26, 2020 12:00p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
13,805.52
+66.69 +0.49%
Volume: 0.00
Nov. 26, 2020 11:55a
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,723.90
+44.65 +0.79%
Volume: 0.00
Nov. 26, 2020 11:05a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,651.40
-31.90 -0.48%
Volume: 367,240
Nov. 26, 2020 2:55p
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/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 83,030.00
-650.00 -0.78%
Volume: 276,200
Nov. 26, 2020 12:55p
P/E Ratio
93.97
Dividend Yield
0.58%
Market Cap
¥8474.35 billion
Rev. per Employee
¥40.83M
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 9,745.00
-65.00 -0.66%
Volume: 4.30M
Nov. 26, 2020 12:55p
P/E Ratio
13.03
Dividend Yield
0.46%
Market Cap
¥11706.46 billion
Rev. per Employee
¥73.75M
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/zigman2/quotes/201861450/delayed
JP : Japan: Tokyo
¥ 1,162.00
+37.00 +3.29%
Volume: 4.58M
Nov. 26, 2020 12:55p
P/E Ratio
N/A
Dividend Yield
0.39%
Market Cap
¥1577.72 billion
Rev. per Employee
¥63.03M
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/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 22.40
-0.50 -2.18%
Volume: 60.47M
Nov. 26, 2020 11:59a
P/E Ratio
28.84
Dividend Yield
1.12%
Market Cap
HK$235.08 billion
Rev. per Employee
HK$3.04M
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/zigman2/quotes/202359856/delayed
HK : Hong Kong
HK$ 17.72
+0.16 +0.91%
Volume: 10.35M
Nov. 26, 2020 11:59a
P/E Ratio
8.83
Dividend Yield
4.51%
Market Cap
HK$1157.68 billion
Rev. per Employee
HK$7.60M
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/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 581.50
+8.50 +1.48%
Volume: 5.09M
Nov. 26, 2020 11:59a
P/E Ratio
41.43
Dividend Yield
0.21%
Market Cap
HK$5549.91 billion
Rev. per Employee
HK$6.80M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
67,100.00
+500.00 +0.75%
Volume: 12.72M
Nov. 26, 2020 12:55p
P/E Ratio
18.32
Dividend Yield
2.11%
Market Cap
₩455008.73 billion
Rev. per Employee
₩2.19B
loading...
/zigman2/quotes/204111604/delayed
TW : Taiwan
NT$ 52.00
+0.40 +0.78%
Volume: 1.42M
Nov. 26, 2020 11:54a
P/E Ratio
13.56
Dividend Yield
4.81%
Market Cap
NT$72.99 billion
Rev. per Employee
NT$573.58M
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/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 103.04
-1.24 -1.19%
Volume: 492,344
Nov. 26, 2020 2:55p
P/E Ratio
15.70
Dividend Yield
5.50%
Market Cap
$152.72 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.85
+0.03 +1.37%
Volume: 8.16M
Nov. 26, 2020 2:54p
P/E Ratio
8.42
Dividend Yield
1.08%
Market Cap
$4.23 billion
Rev. per Employee
N/A
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