Asian markets rise on relief over partial U.S.-China trade deal

By MarketWatch and Associated Press

Getty Images/iStockphoto

The Lujiazui Financial District in Shanghai, where stocks gained Monday.

Asian markets gained in early trading Monday as investors were heartened by Friday’s announcement of a partial trade deal between the U.S. and China.

President Donald Trump in Friday announced a “very substantial phase one deal” that included intellectual-property protections and the Chinese purchase of U.S. agricultural products. There were also reports that tariff hikes against $250 billion of Chinese goods, set to kick in this week, would be put off.

Some analysts were dubious, though. “Hardly the signs of a significant breakthrough,” Jeffrey Halley, senior Asia-Pacific market analyst for Oanda, wrote in a note Sunday. “Both sides appear to have taken small wins that suited them both in the here and now, kicking the significant issues down the road.”

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +1.73%   rose 1.1%, while the Shanghai /zigman2/quotes/210598127/delayed CN:SHCOMP +0.31%  gained 1.5% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.60%   advanced 1.5%, despite data that China’s exports fell in September, in yuan terms, reversing an August gain. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.20%   rose 1.3%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +1.59%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +1.52%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +1.20%   all gained. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.87%   advanced 0.6%. Japan’s Nikkei was closed for a holiday.

U.S. bond markets will be closed for the Columbus Day holiday Monday, but stock markets will be open.

Among individual stocks, casino operator Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 +1.67%   surged in Hong Kong, while food processor WH Group /zigman2/quotes/204247792/delayed HK:288 +0.45%   and HSBC /zigman2/quotes/202687335/delayed HK:5 +3.08%   also gained. Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.33%   and chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +3.95%   rose in South Korea. Mining giants BHP /zigman2/quotes/201448516/delayed AU:BHP +0.71%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +0.30%   were up in Australia.

/zigman2/quotes/210598030/delayed

Add to watchlist HK:HSI

Hang Seng Index

HK : Hong Kong Exchange

19,591.43

+332.67 +1.73%

Volume: 2.36M

March 22, 2023 4:09p

/zigman2/quotes/210598127/delayed

Add to watchlist CN:SHCOMP

Shanghai Composite Index

CN : China: Shanghai

3,265.75

+10.10 +0.31%

Volume: 29.08B

March 22, 2023 3:00p

/zigman2/quotes/210598015/delayed

Add to watchlist CN:399106

Shenzhen Composite Index

CN : Shenhzen Stock Exchange

2,098.44

+12.46 +0.60%

Volume: 44.60B

March 22, 2023 3:00p

/zigman2/quotes/210598069/delayed

Add to watchlist KR:180721

KOSPI Composite Index

KR : Korea Exchange

2,416.96

+28.61 +1.20%

Volume: 492,722

March 22, 2023 3:30p

/zigman2/quotes/210597977/delayed

Add to watchlist TW:Y9999

Taiwan TAIEX

TW : Taiwan Stock Exchange

15,760.46

+247.01 +1.59%

Volume: 0.00

March 22, 2023 1:33p

/zigman2/quotes/210597985/delayed

Add to watchlist SG:STI

FTSE Straits Times Index

SG : Singapore: SGX

3,222.29

+48.36 +1.52%

Volume: 0.00

March 22, 2023 4:43p

/zigman2/quotes/210597981/delayed

Add to watchlist ID:JAKIDX

JSX Composite Index

ID : Indonesia Stock Exchange

6,691.61

+79.12 +1.20%

Volume: 0.00

March 21, 2023 3:00p

/zigman2/quotes/210598100/delayed

Add to watchlist AU:XJO

S&P/ASX 200 Benchmark Index

AU : S&P ASX

7,015.60

+60.20 +0.87%

Volume: 749,080

March 22, 2023 5:09p

/zigman2/quotes/202884203/delayed

Add to watchlist HK:27

Galaxy Entertainment Group Ltd.

HK : Hong Kong

$ 51.65

+0.85 +1.67%

Volume: 11.28M

March 22, 2023 4:08p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$219.01 billion

Rev. per Employee

$474,652

/zigman2/quotes/204247792/delayed

Add to watchlist HK:288

WH Group Ltd.

HK : Hong Kong

$ 4.44

+0.02 +0.45%

Volume: 9.75M

March 22, 2023 4:08p

P/E Ratio

6.28

Dividend Yield

4.28%

Market Cap

$56.71 billion

Rev. per Employee

$2.00M

/zigman2/quotes/202687335/delayed

Add to watchlist HK:5

HSBC Holdings PLC (HK Reg)

HK : Hong Kong

$ 53.50

+1.60 +3.08%

Volume: 29.35M

March 22, 2023 4:08p

P/E Ratio

9.23

Dividend Yield

4.69%

Market Cap

$1039.86 billion

Rev. per Employee

$3.35M

/zigman2/quotes/209800866/delayed

Add to watchlist KR:005930

Samsung Electronics Co. Ltd.

KR : S. Korea: KRX

₩ 61,100.00

+800.00 +1.33%

Volume: 8.97M

March 22, 2023 3:30p

P/E Ratio

7.58

Dividend Yield

2.36%

Market Cap

₩402582.48 billion

Rev. per Employee

N/A

/zigman2/quotes/206420319/delayed

Add to watchlist KR:000660

SK Hynix Inc.

KR : S. Korea: KRX

₩ 86,900.00

+3,300 +3.95%

Volume: 2.61M

March 22, 2023 3:30p

P/E Ratio

26.82

Dividend Yield

1.38%

Market Cap

₩57553.85 billion

Rev. per Employee

N/A

/zigman2/quotes/201448516/delayed

Add to watchlist AU:BHP

BHP Group Ltd.

AU : Australia: Sydney

$ 43.84

+0.31 +0.71%

Volume: 9.10M

March 22, 2023 4:10p

P/E Ratio

7.90

Dividend Yield

9.01%

Market Cap

$217.59 billion

Rev. per Employee

N/A

/zigman2/quotes/200083756/delayed

Add to watchlist AU:RIO

Rio Tinto Ltd.

AU : Australia: Sydney

$ 115.45

+0.35 +0.30%

Volume: 1.10M

March 22, 2023 4:10p

P/E Ratio

10.67

Dividend Yield

6.15%

Market Cap

$164.64 billion

Rev. per Employee

$1.49M