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Nov. 2, 2018, 6:31 a.m. EDT

Asian markets surge, kick off global stock rally as China-U.S. trade tensions ease for now

Apple suppliers not hurt by tech giant’s after-hours plunge

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By Dow Jones Newswires


AFP/Getty Images
A couple eat a snack overlooking the Kowloon district of Hong Kong.

Asian stock markets jumped Friday, reflecting investor relief about upcoming trade talks between China and the U.S., as well as the dollar‘s gains against a basket of major currencies including the yen.

President Donald Trump on Thursday said he had a good talk with Chinese President Xi Jinping, and that trade talks were “moving along nicely.” The two will meet formally later this month, with investors hoping a deal will be reached to ease trade tensions.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.04%   recovered after Thursday’s losses to close up 2.6%. Earnings season cast a pall on some stocks though. Suzuki Motor Corp. /zigman2/quotes/201794956/delayed JP:7269 +7.60%   was down 2.5%, off the worst of the day however, after its second-quarter operating profit slid 6.6% amid weaker sales in Europe, China and India — its biggest market. After a down day Thursday, telecoms rallied Friday, with Nippon Telegraph & Telephone /zigman2/quotes/200718273/delayed JP:9432 -3.35%   up 6.6% and NTT DoCoMo /zigman2/quotes/202061250/delayed JP:9437 -4.53%   rising 4%.

Chinese benchmarks were sharply higher amid hopes of easing the trade conflict, with the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.37%   up 2.7% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.85%   advancing 3.4%. Insurers and brokerage firms led the gains while oil stocks were muted as oil prices slumped.

Hong Kong stocks surged, with the Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +1.34%   up 4.2%. Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.18%  jumped 10% with index heavyweight Tencent /zigman2/quotes/204605823/delayed HK:700 +1.25%   adding 9%. Auto stocks saw renewed buying with Great Wall /zigman2/quotes/207702000/delayed HK:2333 +2.03%   and Geely Auto /zigman2/quotes/200716015/delayed HK:175 +3.96%   up 7% and 11% respectively. Among casino stocks, Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 +5.87%  rose 9% and Wynn Macau /zigman2/quotes/200973447/delayed HK:1128 +5.59%   gained 13%. “The attitudes of both Chinese and U.S. leaders have been productive, bringing more positivity to the meeting at the end of the month,” said UOB Kay Hian stock strategist Ivan Ip.

Apple Inc. /zigman2/quotes/202934861/composite AAPL +2.56%   component manufacturers were mostly unaffected by the tech giant’s after-hours slump following record quarterly earnings but a warning of slower holiday sales. Taiwan’s Taiex   rose 0.6%, as Foxconn /zigman2/quotes/204111604/delayed TW:2354 +2.62%   , Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -0.70%  and Largan Precision /zigman2/quotes/210444196/delayed TW:3008 -3.80%   all gained. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.61%  was up 3.5% as Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.03%  and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.59%   gained.

Benchmark indexes in Singapore /zigman2/quotes/210597985/delayed SG:STI +1.25%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.57%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.26%   were also up.

Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +3.46%   was initially the one of region’s few losers, as the energy and financial sectors pulled down the index. But it, too, rebounded, to close up 0.1%. Oil Search Limited /zigman2/quotes/204702973/delayed AU:OSH +5.06%   was off 1.2% and ANZ Bank /zigman2/quotes/205482049/delayed AU:ANZ +6.57%   was off 1.2% as well. New Zealand’s benchmark index /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.68%   fell slightly, giving up less than 0.1%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
19,345.77
-7.47 -0.04%
Volume: 0.00
April 9, 2020 3:15p
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/zigman2/quotes/201794956/delayed
JP : Japan: Tokyo
¥ 3,022.00
+213.50 +7.60%
Volume: 4.12M
April 9, 2020 3:00p
P/E Ratio
12.24
Dividend Yield
2.45%
Market Cap
¥1363.06 billion
Rev. per Employee
¥59.39M
loading...
/zigman2/quotes/200718273/delayed
JP : Japan: Tokyo
¥ 2,568.00
-89.00 -3.35%
Volume: 5.98M
April 9, 2020 3:00p
P/E Ratio
11.15
Dividend Yield
3.70%
Market Cap
¥9658.76 billion
Rev. per Employee
¥42.02M
loading...
/zigman2/quotes/202061250/delayed
JP : Japan: Tokyo
¥ 3,288.00
-156.00 -4.53%
Volume: 6.43M
April 9, 2020 3:00p
P/E Ratio
18.17
Dividend Yield
3.65%
Market Cap
¥10875.60 billion
Rev. per Employee
¥175.79M
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,825.90
+10.54 +0.37%
Volume: 23.82B
April 9, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,755.37
+14.72 +0.85%
Volume: 37.74B
April 9, 2020 3:00p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,290.77
+320.40 +1.34%
Volume: 1.28M
April 9, 2020 3:26p
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 112.00
-0.20 -0.18%
Volume: 7.42M
April 9, 2020 3:26p
P/E Ratio
27.26
Dividend Yield
0.72%
Market Cap
HK$123.07 billion
Rev. per Employee
HK$1.08M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 389.80
+4.80 +1.25%
Volume: 10.55M
April 9, 2020 3:26p
P/E Ratio
35.20
Dividend Yield
0.31%
Market Cap
HK$3647.96 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/207702000/delayed
HK : Hong Kong
HK$ 5.02
+0.10 +2.03%
Volume: 15.26M
April 9, 2020 3:26p
P/E Ratio
9.61
Dividend Yield
6.60%
Market Cap
HK$44.91 billion
Rev. per Employee
HK$1.78M
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 11.56
+0.44 +3.96%
Volume: 63.65M
April 9, 2020 3:26p
P/E Ratio
11.42
Dividend Yield
2.16%
Market Cap
HK$102.35 billion
Rev. per Employee
HK$3.04M
loading...
/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 47.80
+2.65 +5.87%
Volume: 23.90M
April 9, 2020 3:26p
P/E Ratio
15.93
Dividend Yield
1.90%
Market Cap
HK$195.71 billion
Rev. per Employee
HK$1.44M
loading...
/zigman2/quotes/200973447/delayed
HK : Hong Kong
HK$ 12.84
+0.68 +5.59%
Volume: 11.64M
April 9, 2020 3:26p
P/E Ratio
13.18
Dividend Yield
3.50%
Market Cap
HK$63.19 billion
Rev. per Employee
HK$3.23M
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 266.07
+6.64 +2.56%
Volume: 42.22M
April 8, 2020 4:00p
P/E Ratio
21.01
Dividend Yield
1.16%
Market Cap
$1164.18 billion
Rev. per Employee
$1.98M
loading...
/zigman2/quotes/204111604/delayed
TW : Taiwan
NT$ 54.80
+1.40 +2.62%
Volume: 8.79M
April 9, 2020 1:30p
P/E Ratio
10.91
Dividend Yield
5.84%
Market Cap
NT$75.53 billion
Rev. per Employee
NT$888.52M
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 283.00
-2.00 -0.70%
Volume: 27.62M
April 9, 2020 1:30p
P/E Ratio
21.25
Dividend Yield
3.36%
Market Cap
NT$7390.16 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210444196/delayed
TW : Taiwan
NT$ 3,800.00
-150.00 -3.80%
Volume: 954,202
April 9, 2020 1:30p
P/E Ratio
18.17
Dividend Yield
1.79%
Market Cap
NT$529.85 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,836.21
+29.07 +1.61%
Volume: 907,466
April 9, 2020 3:32p
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
49,100.00
+500.00 +1.03%
Volume: 22.49M
April 9, 2020 3:30p
P/E Ratio
15.51
Dividend Yield
2.88%
Market Cap
₩330124.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
85,000.00
+500.00 +0.59%
Volume: 3.54M
April 9, 2020 3:30p
P/E Ratio
28.88
Dividend Yield
1.18%
Market Cap
₩57798.10 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,571.22
+31.78 +1.25%
Volume: 0.00
April 9, 2020 3:26p
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,369.09
+7.70 +0.57%
Volume: 0.00
April 9, 2020 3:26p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,638.53
+11.84 +0.26%
Volume: 0.00
April 9, 2020 2:31p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,387.30
+180.40 +3.46%
Volume: 914,157
April 9, 2020 5:12p
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/zigman2/quotes/204702973/delayed
AU : Australia: Sydney
$ 2.70
+0.13 +5.06%
Volume: 27.83M
April 9, 2020 4:10p
P/E Ratio
9.44
Dividend Yield
5.23%
Market Cap
$4.02 billion
Rev. per Employee
$1.46M
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 16.54
+1.02 +6.57%
Volume: 11.84M
April 9, 2020 4:10p
P/E Ratio
8.22
Dividend Yield
13.20%
Market Cap
$44.02 billion
Rev. per Employee
$908,476
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
9,963.90
-67.76 -0.68%
Volume: 0.00
April 9, 2020 5:01p
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