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Feb. 19, 2019, 11:27 p.m. EST

Asian markets tick higher; Nikkei up despite disappointing data on exports

Mining stocks jump as price of gold rises; Japan posts biggest trade deficit in 5 years

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By Associated Press and Marketwatch


Reuters
Newly manufactured Honda cars await export at port in Yokohama, Japan. Japan’s exports sank 8.4% year-over-year in January.

Shares were mostly higher in Asia on Wednesday after a modestly high finish on Wall Street that extended the market’s gains into a fourth week.

The Nikkei 225 index /zigman2/quotes/210597971/delayed JP:NIK +0.66%   rose 0.3% despite news that Japan’s exports sank 8.4% in January from a year earlier, far more than forecast.

Hong Kong’s Hang Seng index /zigman2/quotes/210598030/delayed HK:HSI +0.10%   jumped 0.7%, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.18%  slipped 0.2%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.19%   jumped 0.9% and Australia S&P ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.25%   slipped 0.3%. Stocks rose in Taiwan  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.59%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.76%  .

Among individual stocks, Sumitomo Metal Mining /zigman2/quotes/205273301/delayed JP:5713 +0.94%   and SoftBank Group /zigman2/quotes/207303954/delayed JP:9984 +3.22%   rose in Tokyo trading, while tech companies Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.05%   and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.72%  jumped in Seoul. Investment bank China International Capital /zigman2/quotes/204387468/delayed HK:3908 +0.23%   surged in Hong Kong, along with China Life Insurance /zigman2/quotes/202359856/delayed HK:2628 +0.57%   and auto maker Geely /zigman2/quotes/200716015/delayed HK:175 -2.18%  . Mining names such as Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -1.05%   and BHP /zigman2/quotes/201448516/delayed AU:BHP -0.48%   advanced in Australia as gold prices rallied, while bank stocks fell.

Uncertainty over the costly trade conflict between the U.S. and China has clouded the outlook for trade as well as company profits. But stocks shook off an early wobble on Wall Street as solid earnings from Walmart /zigman2/quotes/207374728/composite WMT +0.31%   encouraged investors to bid up other retailers and consumer goods companies. Communication services stocks and banks also contributed to the broad gains.

Roughly 81% of S&P 500 companies have reported results for the last three months of 2018, delivering earnings growth of 13.1% versus a year earlier, according to FactSet. First-quarter snapshots are expected to result in a 2.5% decline in earnings, however.

The benchmark S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.16%   gained 0.1% to 2,779.76, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.58%   was almost flat at 25,891.32. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +0.48%   added 0.2% to 7,486.77.

Major European indexes finished mostly lower.

Investors are keeping a close eye on talks between U.S. and Chinese negotiators in Washington that are aimed at ending a trade war between the world’s largest economies.

Data showed a 17% drop in Japan’s exports to China and 13% decline in exports to the rest of Asia including China helped dragged overall exports sharply lower. Japan’s imports fell 0.6%, leaving a deficit of 1.4 trillion yen ($12.8 billion), up 50% from a year earlier. The weak numbers suggest China’s slowdown and trade tensions with the United States are hurting demand.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.1771%   rose to 110.79 yen from 110.63 yen on Tuesday. The euro strengthened to $1.1345 from $1.1343.

U.S. benchmark crude   gained 22 cents to $56.67 per barrel in electronic trading on the New York Mercantile Exchange. It rose 0.8 percent to settle at $56.45 a barrel on Tuesday. Brent crude  , the standard for international oil prices, added 7 cents to $66.52 per barrel.

/zigman2/quotes/210597971/delayed
JP : Nikkei
26,470.28
+173.42 +0.66%
Volume: 0.00
Nov. 26, 2020 11:30a
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,695.32
+25.57 +0.10%
Volume: 622,838
Nov. 26, 2020 11:04a
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,356.39
-5.94 -0.18%
Volume: 14.25B
Nov. 26, 2020 11:04a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,606.52
+4.98 +0.19%
Volume: 690,674
Nov. 26, 2020 11:59a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,666.90
-16.40 -0.25%
Volume: 295,000
Nov. 26, 2020 1:59p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,852.50
-17.05 -0.59%
Volume: 0.00
Nov. 26, 2020 11:04a
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,722.41
+43.17 +0.76%
Volume: 0.00
Nov. 26, 2020 10:09a
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/zigman2/quotes/205273301/delayed
JP : Japan: Tokyo
¥ 3,960.00
+37.00 +0.94%
Volume: 482,600
Nov. 26, 2020 11:30a
P/E Ratio
22.35
Dividend Yield
1.49%
Market Cap
¥1036.47 billion
Rev. per Employee
¥126.96M
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 7,091.00
+221.00 +3.22%
Volume: 9.66M
Nov. 26, 2020 11:30a
P/E Ratio
32.40
Dividend Yield
0.00%
Market Cap
¥12845.15 billion
Rev. per Employee
¥76.45M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
67,300.00
+700.00 +1.05%
Volume: 11.05M
Nov. 26, 2020 11:59a
P/E Ratio
18.38
Dividend Yield
2.10%
Market Cap
₩455008.73 billion
Rev. per Employee
₩2.19B
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/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
97,900.00
+700.00 +0.72%
Volume: 1.31M
Nov. 26, 2020 11:59a
P/E Ratio
23.34
Dividend Yield
1.02%
Market Cap
₩67442.58 billion
Rev. per Employee
₩955.63M
loading...
/zigman2/quotes/204387468/delayed
HK : Hong Kong
HK$ 17.60
+0.04 +0.23%
Volume: 1.48M
Nov. 26, 2020 11:04a
P/E Ratio
12.95
Dividend Yield
0.00%
Market Cap
HK$294.35 billion
Rev. per Employee
N/A
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/zigman2/quotes/202359856/delayed
HK : Hong Kong
HK$ 17.66
+0.10 +0.57%
Volume: 8.19M
Nov. 26, 2020 11:04a
P/E Ratio
8.80
Dividend Yield
4.53%
Market Cap
HK$1157.68 billion
Rev. per Employee
HK$7.60M
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/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 22.40
-0.50 -2.18%
Volume: 52.16M
Nov. 26, 2020 11:04a
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/200083756/delayed
AU : Australia: Sydney
$ 103.18
-1.10 -1.05%
Volume: 410,012
Nov. 26, 2020 1:59p
P/E Ratio
15.72
Dividend Yield
5.49%
Market Cap
$152.72 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 39.27
-0.19 -0.48%
Volume: 2.52M
Nov. 26, 2020 1:59p
P/E Ratio
16.85
Dividend Yield
4.45%
Market Cap
$181.24 billion
Rev. per Employee
N/A
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/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 151.83
+0.47 +0.31%
Volume: 4.61M
Nov. 25, 2020 7:00p
P/E Ratio
21.93
Dividend Yield
1.42%
Market Cap
$428.92 billion
Rev. per Employee
$238,165
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/zigman2/quotes/210599714/realtime
US : S&P US
3,629.65
-5.76 -0.16%
Volume: 2.32B
Nov. 25, 2020 5:33p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,872.47
-173.77 -0.58%
Volume: 324.19M
Nov. 25, 2020 5:33p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
12,094.40
+57.62 +0.48%
Volume: 4.16M
Nov. 25, 2020 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
104.2790
-0.1850 -0.1771%
Volume: 0.0000
Nov. 25, 2020 10:19p
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