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Oct. 16, 2018, 7:18 a.m. EDT

Nikkei’s gain, led by Softbank’s rebound, lifts most Asian markets

Oil sector lifts Hong Kong though mainland China’s gains fade

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By Dow Jones Newswire


Bloomberg News
A Sinopec worker takes gauge readings at a shale gas well in China. Sinopec shares rose 2% in Hong Kong trading Tuesday.

Asian stock markets gained Tuesday, partly reversing a broad selloff to start the week and largely shaking off modest losses on Wall Street.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.03%   was up 1.2%, led by SoftBank Group and energy and steel stocks, amid continuing concerns about U.S. trade issues. Of 33 Topix subindexes, 17 sectors were higher. SoftBank /zigman2/quotes/207303954/delayed JP:9984 +1.74%   was up 3.6% following a 7.3% loss Monday due to concerns about the viability of its technology investment fund, partly financed by Saudi Arabia. SoftBank’s gains accounted for almost half of the indexes gains Tuesday.

Also in Tokyo, oil explorer Inpex /zigman2/quotes/206689846/delayed JP:1605 +0.35%    was up 3.8% and oil distributor Idemitsu Kosan /zigman2/quotes/209216965/delayed JP:5019 +0.96%   fell 3.2% after crude oil  gains overnight due to Saudi supply concerns.

Hong Kong stocks were among the region’s best performer, with the oil sector getting a fresh lift. The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.74%   was up 0.1% after falling 1.4% Monday, then one of the region’s bigger declines. Chinese oil giants Sinopec /zigman2/quotes/202085942/delayed HK:386 0.00%  , CNOOC /zigman2/quotes/203421416/delayed HK:883 0.00%   and PetroChina /zigman2/quotes/204979431/delayed HK:857 +0.40%   were all up more than 2% while property names were also higher. Mainland developer Country Garden /zigman2/quotes/201681083/delayed HK:2007 -0.97%   followed yesterday’s 6.7% skid with a nearly 4% gain. But Tencent /zigman2/quotes/204605823/delayed HK:700 +2.61%   was slightly lower as the Hang Seng heavyweight remains under pressure.

In mainland China trading, larger-cap companies outpaced smaller ones. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.21%   was down 0.9%, while the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.0056%   fell 1.9%.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.38%  was up 0.6% after recent underperformance left it at six-month lows Monday. Banks recovered somewhat from Monday’s losses, with Australia and New Zealand Banking Group /zigman2/quotes/205482049/delayed AU:ANZ -0.09%  , Commonwealth Bank of Australia /zigman2/quotes/200638713/delayed AU:CBA -0.67%   and National Australia Bank /zigman2/quotes/210431826/delayed AU:NAB -0.13%   posting gains, though off session highs. Meanwhile, New Zealand’s benchmark /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.63%   slipped slightly.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.76%   was near flat, as Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 +7.67%   surged 2.6%. Taiwan’s Taiex   bounced back from Monday’s losses, with tech manufacturers such as Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -0.40%   and Pegatron /zigman2/quotes/207039987/delayed TW:4938 -0.45%   leading the way.

The benchmark in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.41% gave up early gains to end down 0.4% but the main index in Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +1.85%   was up 0.5%, while Indonesia’s /zigman2/quotes/210597981/delayed ID:JAKIDX +0.15%   was slightly lower.

/zigman2/quotes/210597971/delayed
JP : Nikkei
26,809.37
+8.39 +0.03%
Volume: 0.00
Dec. 3, 2020 3:15p
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 7,381.00
+126.00 +1.74%
Volume: 14.50M
Dec. 3, 2020 3:00p
P/E Ratio
33.72
Dividend Yield
0.00%
Market Cap
¥13719.03 billion
Rev. per Employee
¥76.45M
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 575.00
+2.00 +0.35%
Volume: 5.60M
Dec. 3, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
4.17%
Market Cap
¥836.70 billion
Rev. per Employee
¥427.76M
loading...
/zigman2/quotes/209216965/delayed
JP : Japan: Tokyo
¥ 2,204.00
+21.00 +0.96%
Volume: 1.36M
Dec. 3, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
5.44%
Market Cap
¥648.95 billion
Rev. per Employee
¥439.19M
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,728.50
+195.92 +0.74%
Volume: 2.83M
Dec. 3, 2020 4:08p
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/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 3.63
0.00 0.00%
Volume: 104.15M
Dec. 3, 2020 4:08p
P/E Ratio
10.39
Dividend Yield
6.18%
Market Cap
HK$568.56 billion
Rev. per Employee
HK$7.49M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 7.70
0.00 0.00%
Volume: 264.83M
Dec. 3, 2020 4:08p
P/E Ratio
7.52
Dividend Yield
8.44%
Market Cap
HK$343.79 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 2.48
+0.01 +0.40%
Volume: 76.78M
Dec. 3, 2020 4:08p
P/E Ratio
21.49
Dividend Yield
5.82%
Market Cap
HK$873.12 billion
Rev. per Employee
HK$5.79M
loading...
/zigman2/quotes/201681083/delayed
HK : Hong Kong
HK$ 10.20
-0.10 -0.97%
Volume: 20.79M
Dec. 3, 2020 4:08p
P/E Ratio
5.36
Dividend Yield
5.94%
Market Cap
HK$223.95 billion
Rev. per Employee
HK$3.60M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 589.00
+15.00 +2.61%
Volume: 15.56M
Dec. 3, 2020 4:08p
P/E Ratio
41.96
Dividend Yield
0.20%
Market Cap
HK$5492.89 billion
Rev. per Employee
HK$6.80M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,442.14
-7.24 -0.21%
Volume: 29.85B
Dec. 3, 2020 3:01p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,290.33
+0.13 +0.0056%
Volume: 37.37B
Dec. 3, 2020 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,615.30
+25.10 +0.38%
Volume: 699,399
Dec. 3, 2020 5:32p
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 23.01
-0.02 -0.09%
Volume: 4.87M
Dec. 3, 2020 4:10p
P/E Ratio
19.53
Dividend Yield
2.61%
Market Cap
$65.32 billion
Rev. per Employee
$778,092
loading...
/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 79.56
-0.54 -0.67%
Volume: 1.88M
Dec. 3, 2020 4:10p
P/E Ratio
15.19
Dividend Yield
3.75%
Market Cap
$141.94 billion
Rev. per Employee
$917,769
loading...
/zigman2/quotes/210431826/delayed
AU : Australia: Sydney
$ 22.97
-0.03 -0.13%
Volume: 4.88M
Dec. 3, 2020 4:10p
P/E Ratio
28.64
Dividend Yield
2.61%
Market Cap
$75.68 billion
Rev. per Employee
$763,679
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
12,648.91
-79.78 -0.63%
Volume: 0.00
Dec. 3, 2020 5:00p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,696.22
+20.32 +0.76%
Volume: 817,065
Dec. 3, 2020 4:30p
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
196,500
+14,000 +7.67%
Volume: 6.05M
Dec. 3, 2020 4:30p
P/E Ratio
44.45
Dividend Yield
1.53%
Market Cap
₩41777.67 billion
Rev. per Employee
₩1.51B
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 497.00
-2.00 -0.40%
Volume: 35.96M
Dec. 3, 2020 1:30p
P/E Ratio
26.24
Dividend Yield
2.01%
Market Cap
NT$12705.89 billion
Rev. per Employee
NT$20.86M
loading...
/zigman2/quotes/207039987/delayed
TW : Taiwan
NT$ 66.10
-0.30 -0.45%
Volume: 8.03M
Dec. 3, 2020 1:30p
P/E Ratio
7.36
Dividend Yield
6.81%
Market Cap
NT$170.99 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,822.34
+11.39 +0.41%
Volume: 0.00
Dec. 3, 2020 5:20p
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,628.26
+29.54 +1.85%
Volume: 0.00
Dec. 3, 2020 5:05p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,822.94
+8.96 +0.15%
Volume: 0.00
Dec. 3, 2020 3:00p
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