Bulletin
Investor Alert

Asia Markets Archives | Email alerts

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

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    NIKKEI 225 Index (NIK)
  • X
    Suzuki Motor Corp. (7269)
  • X
    Nippon Telegraph & Telephone Corp. (9432)

or Cancel Already have a watchlist? Log In

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 +0.23%   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 -0.15%   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 +0.07%   up 6.6% and NTT DoCoMo /zigman2/quotes/202061250/delayed JP:9437 +0.87%   rising 4%.

Chinese benchmarks were sharply higher amid hopes of easing the trade conflict, with the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.43%   up 2.7% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.82%   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 +1.07%   up 4.2%. Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +5.72%  jumped 10% with index heavyweight Tencent /zigman2/quotes/204605823/delayed HK:700 +1.70%   adding 9%. Auto stocks saw renewed buying with Great Wall /zigman2/quotes/207702000/delayed HK:2333 -2.33%   and Geely Auto /zigman2/quotes/200716015/delayed HK:175 +1.19%   up 7% and 11% respectively. Among casino stocks, Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 +2.25%  rose 9% and Wynn Macau /zigman2/quotes/200973447/delayed HK:1128 +1.29%   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 +1.93%   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 -0.30%   , Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 +0.32%  and Largan Precision /zigman2/quotes/210444196/delayed TW:3008 -0.42%   all gained. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.02%  was up 3.5% as Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.82%  and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +2.28%   gained.

Benchmark indexes in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.65%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.31%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.56%   were also up.

Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.36%   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 -0.56%   was off 1.2% and ANZ Bank /zigman2/quotes/205482049/delayed AU:ANZ -0.45%   was off 1.2% as well. New Zealand’s benchmark index /zigman2/quotes/211587880/delayed NZ:NZ50GR +0.16%   fell slightly, giving up less than 0.1%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,354.40
+54.31 +0.23%
Volume: 0.00
Dec. 6, 2019 3:15p
loading...
/zigman2/quotes/201794956/delayed
JP : Japan: Tokyo
¥ 4,697.00
-7.00 -0.15%
Volume: 1.26M
Dec. 6, 2019 3:00p
P/E Ratio
17.78
Dividend Yield
1.58%
Market Cap
¥2166.89 billion
Rev. per Employee
¥59.39M
loading...
/zigman2/quotes/200718273/delayed
JP : Japan: Tokyo
¥ 5,589.00
+4.00 +0.07%
Volume: 1.63M
Dec. 6, 2019 3:00p
P/E Ratio
12.60
Dividend Yield
3.40%
Market Cap
¥10158.60 billion
Rev. per Employee
¥42.02M
loading...
/zigman2/quotes/202061250/delayed
JP : Japan: Tokyo
¥ 3,000.00
+26.00 +0.87%
Volume: 3.57M
Dec. 6, 2019 3:00p
P/E Ratio
16.23
Dividend Yield
4.00%
Market Cap
¥9862.55 billion
Rev. per Employee
¥175.79M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,912.01
+12.55 +0.43%
Volume: 13.41B
Dec. 6, 2019 3:01p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,640.33
+13.36 +0.82%
Volume: 22.84B
Dec. 6, 2019 3:00p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,498.37
+281.33 +1.07%
Volume: 1.64M
Dec. 6, 2019 4:08p
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 138.70
+7.50 +5.72%
Volume: 10.16M
Dec. 6, 2019 4:08p
P/E Ratio
48.24
Dividend Yield
0.48%
Market Cap
HK$152.13 billion
Rev. per Employee
HK$1.08M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 335.60
+5.60 +1.70%
Volume: 15.64M
Dec. 6, 2019 4:08p
P/E Ratio
32.71
Dividend Yield
0.30%
Market Cap
HK$3180.14 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/207702000/delayed
HK : Hong Kong
HK$ 5.86
-0.14 -2.33%
Volume: 40.43M
Dec. 6, 2019 4:08p
P/E Ratio
11.22
Dividend Yield
5.66%
Market Cap
HK$53.49 billion
Rev. per Employee
HK$1.78M
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 15.36
+0.18 +1.19%
Volume: 33.55M
Dec. 6, 2019 4:08p
P/E Ratio
12.38
Dividend Yield
2.28%
Market Cap
HK$140.48 billion
Rev. per Employee
HK$3.04M
loading...
/zigman2/quotes/202884203/delayed
HK : Hong Kong
HK$ 52.25
+1.15 +2.25%
Volume: 19.57M
Dec. 6, 2019 4:08p
P/E Ratio
17.47
Dividend Yield
1.74%
Market Cap
HK$226.17 billion
Rev. per Employee
HK$1.44M
loading...
/zigman2/quotes/200973447/delayed
HK : Hong Kong
HK$ 17.22
+0.22 +1.29%
Volume: 6.70M
Dec. 6, 2019 4:08p
P/E Ratio
14.83
Dividend Yield
5.23%
Market Cap
HK$89.48 billion
Rev. per Employee
HK$3.23M
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 270.71
+5.13 +1.93%
Volume: 26.55M
Dec. 6, 2019 4:00p
P/E Ratio
22.84
Dividend Yield
1.14%
Market Cap
$1202.84 billion
Rev. per Employee
$1.98M
loading...
/zigman2/quotes/204111604/delayed
TW : Taiwan
NT$ 67.30
-0.20 -0.30%
Volume: 3.14M
Dec. 6, 2019 1:30p
P/E Ratio
10.59
Dividend Yield
4.75%
Market Cap
NT$95.20 billion
Rev. per Employee
NT$888.52M
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 313.00
+1.00 +0.32%
Volume: 17.70M
Dec. 6, 2019 1:30p
P/E Ratio
24.65
Dividend Yield
0.00%
Market Cap
NT$8116.21 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210444196/delayed
TW : Taiwan
NT$ 4,690.00
-20.00 -0.42%
Volume: 818,073
Dec. 6, 2019 1:30p
P/E Ratio
23.77
Dividend Yield
1.45%
Market Cap
NT$629.12 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,081.85
+21.11 +1.02%
Volume: 440,188
Dec. 6, 2019 6:01p
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
50,400.00
+900.00 +1.82%
Volume: 11.41M
Dec. 6, 2019 3:30p
P/E Ratio
13.91
Dividend Yield
2.81%
Market Cap
₩342350.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
80,600.00
+1,800 +2.28%
Volume: 3.05M
Dec. 6, 2019 3:30p
P/E Ratio
9.97
Dividend Yield
1.86%
Market Cap
₩55130.50 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,194.71
+20.52 +0.65%
Volume: 0.00
Dec. 6, 2019 5:20p
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,568.44
+4.86 +0.31%
Volume: 0.00
Dec. 6, 2019 5:05p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,186.87
+34.75 +0.56%
Volume: 0.00
Dec. 6, 2019 4:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,707.00
+24.00 +0.36%
Volume: 459,318
Dec. 6, 2019 5:09p
loading...
/zigman2/quotes/204702973/delayed
AU : Australia: Sydney
$ 7.06
-0.04 -0.56%
Volume: 2.87M
Dec. 6, 2019 4:10p
P/E Ratio
18.27
Dividend Yield
2.75%
Market Cap
$10.76 billion
Rev. per Employee
$1.46M
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 24.59
-0.11 -0.45%
Volume: 4.16M
Dec. 6, 2019 4:10p
P/E Ratio
12.23
Dividend Yield
6.51%
Market Cap
$69.70 billion
Rev. per Employee
$908,476
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
11,276.20
+18.41 +0.16%
Volume: 0.00
Dec. 6, 2019 5:00p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.