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March 2, 2012, 4:11 a.m. EST

Asian shares advance as financials climb

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By Sarah Turner and Nick Godt, MarketWatch

MUMBAI (MarketWatch) — Asian shares rose Friday, with financials joining in global stock gains for the sector, as markets digested mostly positive developments from overseas.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.27%  advanced 0.8%, while the Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 -1.25%  rose1.4%.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -3.34%  rose 0.7%, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.18%  added 0.2% after a holiday Thursday, and Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO -1.60%  closed 0.4% higher.

U.S. stocks had ended Thursday’s session with gains, helped by a drop in weekly jobless claims to the lowest level since March 2008, and with financial shares among the top gainers. Read more on U.S. markets.

“Markets shrugged off generally downbeat economic data from the U.S. and Europe, apparently preferring to focus on the continued decline in U.S. claims for unemployment compensation and successful government bond auctions in France and Spain,” said strategists at Barclays Capital.

Macquarie Research director Lucinda Chan agreed on the positive take on the days foreign news, saying that “everything offshore is doing better than most had anticipated. We are lifting out of the gloomy days.”

In addition, a trade body ruled Thursday that there had not been a credit event to trigger a payout on privately held Greek government bonds.

“The ISDA ruling was enough to push the [U.S.] banking sector higher,” said Stan Shamu at IG Markets on U.S. market action Thursday.

Bank-sector gains in Europe and the U.S. on Thursday spread to Tokyo financials on Friday, with Credit Saison Co. /zigman2/quotes/206267090/delayed JP:8253 -5.51%   /zigman2/quotes/209887630/delayed CSASF -1.27%  up 5.6%, Daiwa Securities Group Inc. /zigman2/quotes/201391978/delayed JP:8601 -6.96%   /zigman2/quotes/206649614/delayed DSECF -9.61%  ahead by 2.7%, and Nomura Holdings Inc. /zigman2/quotes/206251373/delayed JP:8604 -5.20%   /zigman2/quotes/207276383/composite NMR -0.83%  adding 2.4%.

Click to Play

China shifts out of dollars

China is shifting sharply away from U.S. dollars and the world hasn't ended-yet. Photo: Ed Jones/AFP/Getty Images.

In Australia, most banks also gained, with Australia & New Zealand Banking Group Ltd. /zigman2/quotes/205482049/delayed AU:ANZ -0.89%   /zigman2/quotes/204542251/delayed ANEWF +2.67%   closing 1.4% higher, and Macquarie Group Ltd. /zigman2/quotes/206727308/delayed AU:MQG -0.65%   /zigman2/quotes/204353811/delayed MCQEF +2.94%  ahead by 1.5%.

In Hong Kong, HSBC Holdings PLC /zigman2/quotes/202687335/delayed HK:5 -0.80%  rose 1.6% and Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 -0.64%   /zigman2/quotes/201568493/delayed BACHY +1.21%  climbed 1.2%.

Thursday trading in New York also saw oil futures briefly top $110 a barrel, after reports, later denied, that some oil pipelines in Saudi Arabia had been destroyed in explosions. Read more on oil.

Energy shares were advancing on Friday, with Inpex Corp. /zigman2/quotes/206689846/delayed JP:1605 -4.63%   /zigman2/quotes/207958170/delayed IPXHY -4.95%  advancing 1.2%, and Japan Petroleum Exploration Co. /zigman2/quotes/201212147/delayed JP:1662 -5.82%   /zigman2/quotes/202925532/delayed JPTXF -1.12%  up 1.7%, though off their highs of the day as crude prices ebbed during the Asian equities session.

Among Hong Kong-listed names, China Petroleum & Chemical Corp. /zigman2/quotes/202085942/delayed HK:386 -0.73%   /zigman2/quotes/202783176/composite SNP -0.05%  rose 2.2%, while PetroChina Co. /zigman2/quotes/204979431/delayed HK:857 -0.93%   /zigman2/quotes/205108732/composite PTR -0.80%  advanced 1%.

South Korean car maker Hyundai Motor Co. /zigman2/quotes/204364212/delayed HYMTF +14.88%  jumped 1.9% after reporting Thursday its U.S. February sales climbed 17% from a year ago.

However, Japanese car makers were lower, with Toyota Motor Corp. /zigman2/quotes/203803129/delayed JP:7203 -3.36%   /zigman2/quotes/200537742/composite TM +1.15%  down 0.6%, and Mazda Motor Corp. /zigman2/quotes/204777714/delayed JP:7261 -6.80%   /zigman2/quotes/206646681/delayed MZDAF +3.07%  falling 2.3%.

Both firms also reported U.S. sales, with Toyota’s sales up 12% and Mazda recording a 32.3% rise.

Other Japanese export-related firms were solidly higher, with TDK Corp. /zigman2/quotes/208948266/delayed JP:6762 -3.01%   /zigman2/quotes/203182885/delayed TTDKF -1.67% up 2% and Fujitsu Ltd. /zigman2/quotes/208459594/delayed JP:6702 -1.88%   /zigman2/quotes/204809476/delayed FJTSF +4.25% climbing 1.4%.

The gains for Japanese exporters came as the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.2710%  remained supported against the yen, trading near ¥81. Read more on currencies.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,893.23
+72.35 +0.27%
Volume: 1.92M
Feb. 25, 2020 4:37p
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.04
-0.19 -1.25%
Volume: 114.46M
Feb. 25, 2020 3:00p
P/E Ratio
10.75
Dividend Yield
1.45%
Market Cap
¥295.55 billion
Rev. per Employee
¥6.12M
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
22,605.41
-781.33 -3.34%
Volume: 0.00
Feb. 25, 2020 3:15p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,103.61
+24.57 +1.18%
Volume: 1.57M
Feb. 25, 2020 3:32p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,866.60
-111.70 -1.60%
Volume: 1.04M
Feb. 25, 2020 5:32p
loading...
/zigman2/quotes/206267090/delayed
JP : Japan: Tokyo
¥ 1,716.00
-100.00 -5.51%
Volume: 1.04M
Feb. 25, 2020 3:00p
P/E Ratio
6.31
Dividend Yield
2.62%
Market Cap
¥284.79 billion
Rev. per Employee
¥66.76M
loading...
/zigman2/quotes/209887630/delayed
US : U.S.: OTC
$ 15.60
-0.20 -1.27%
Volume: 400.00
June 28, 2018 12:00a
P/E Ratio
6.28
Dividend Yield
N/A
Market Cap
$2.55 billion
Rev. per Employee
$604,479
loading...
/zigman2/quotes/201391978/delayed
JP : Japan: Tokyo
¥ 501.50
-37.50 -6.96%
Volume: 9.63M
Feb. 25, 2020 3:00p
P/E Ratio
12.52
Dividend Yield
3.99%
Market Cap
¥818.62 billion
Rev. per Employee
¥49.77M
loading...
/zigman2/quotes/206649614/delayed
US : U.S.: OTC
$ 4.89
-0.52 -9.61%
Volume: 100.00
Feb. 21, 2020 2:25p
P/E Ratio
13.30
Dividend Yield
N/A
Market Cap
$7.05 billion
Rev. per Employee
$450,764
loading...
/zigman2/quotes/206251373/delayed
JP : Japan: Tokyo
¥ 532.60
-29.20 -5.20%
Volume: 25.69M
Feb. 25, 2020 3:00p
P/E Ratio
7.05
Dividend Yield
5.63%
Market Cap
¥1736.92 billion
Rev. per Employee
¥65.89M
loading...
/zigman2/quotes/207276383/composite
US : U.S.: NYSE
$ 4.76
-0.04 -0.83%
Volume: 30,311
Feb. 25, 2020 10:10a
P/E Ratio
6.83
Dividend Yield
3.04%
Market Cap
$14.84 billion
Rev. per Employee
$597,075
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 26.59
-0.24 -0.89%
Volume: 8.11M
Feb. 25, 2020 4:10p
P/E Ratio
13.22
Dividend Yield
8.21%
Market Cap
$76.09 billion
Rev. per Employee
$908,476
loading...
/zigman2/quotes/204542251/delayed
US : U.S.: OTC
$ 17.67
+0.46 +2.67%
Volume: 50.00
Feb. 24, 2020 5:20p
P/E Ratio
12.47
Dividend Yield
N/A
Market Cap
$49.99 billion
Rev. per Employee
$690,358
loading...
/zigman2/quotes/206727308/delayed
AU : Australia: Sydney
$ 144.75
-0.94 -0.65%
Volume: 1.27M
Feb. 25, 2020 4:10p
P/E Ratio
16.00
Dividend Yield
4.99%
Market Cap
$49.34 billion
Rev. per Employee
$1.02M
loading...
/zigman2/quotes/204353811/delayed
US : U.S.: OTC
$ 100.00
+2.86 +2.94%
Volume: 0.00
Feb. 19, 2020 9:46a
P/E Ratio
15.69
Dividend Yield
N/A
Market Cap
$33.87 billion
Rev. per Employee
$777,639
loading...
/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 56.05
-0.45 -0.80%
Volume: 47.02M
Feb. 25, 2020 4:08p
P/E Ratio
23.71
Dividend Yield
7.09%
Market Cap
HK$1147.72 billion
Rev. per Employee
HK$2.88M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 3.12
-0.02 -0.64%
Volume: 259.91M
Feb. 25, 2020 4:08p
P/E Ratio
4.39
Dividend Yield
6.76%
Market Cap
HK$924.31 billion
Rev. per Employee
HK$3.13M
loading...
/zigman2/quotes/201568493/delayed
US : U.S.: OTC
$ 10.03
+0.12 +1.21%
Volume: 1,063
Feb. 25, 2020 9:30a
P/E Ratio
4.50
Dividend Yield
5.54%
Market Cap
$33.68 billion
Rev. per Employee
$399,878
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 1,020.00
-49.50 -4.63%
Volume: 8.28M
Feb. 25, 2020 3:00p
P/E Ratio
9.48
Dividend Yield
3.53%
Market Cap
¥1561.68 billion
Rev. per Employee
¥291.81M
loading...
/zigman2/quotes/207958170/delayed
US : U.S.: OTC
$ 8.98
-0.47 -4.95%
Volume: 126.00
Feb. 24, 2020 3:56p
P/E Ratio
9.09
Dividend Yield
1.97%
Market Cap
$14.11 billion
Rev. per Employee
$2.64M
loading...
/zigman2/quotes/201212147/delayed
JP : Japan: Tokyo
¥ 2,605.00
-161.00 -5.82%
Volume: 445,900
Feb. 25, 2020 3:00p
P/E Ratio
7.47
Dividend Yield
1.92%
Market Cap
¥158.08 billion
Rev. per Employee
¥156.48M
loading...
/zigman2/quotes/202925532/delayed
US : U.S.: OTC
$ 21.16
-0.24 -1.12%
Volume: 0.00
Dec. 30, 2019 5:19p
P/E Ratio
6.63
Dividend Yield
N/A
Market Cap
$1.16 billion
Rev. per Employee
$1.42M
loading...
/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 4.09
-0.03 -0.73%
Volume: 110.67M
Feb. 25, 2020 4:08p
P/E Ratio
9.47
Dividend Yield
10.32%
Market Cap
HK$498.81 billion
Rev. per Employee
HK$7.40M
loading...
/zigman2/quotes/202783176/composite
US : U.S.: NYSE
$ 52.12
-0.02 -0.05%
Volume: 33,835
Feb. 25, 2020 10:11a
P/E Ratio
8.22
Dividend Yield
9.57%
Market Cap
$13.30 billion
Rev. per Employee
$975,922
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 3.19
-0.03 -0.93%
Volume: 183.42M
Feb. 25, 2020 4:08p
P/E Ratio
12.24
Dividend Yield
4.94%
Market Cap
HK$589.33 billion
Rev. per Employee
HK$5.32M
loading...
/zigman2/quotes/205108732/composite
US : U.S.: NYSE
$ 40.90
-0.33 -0.80%
Volume: 23,932
Feb. 25, 2020 10:11a
P/E Ratio
9.45
Dividend Yield
4.14%
Market Cap
$8.70 billion
Rev. per Employee
$678,384
loading...
/zigman2/quotes/204364212/delayed
US : U.S.: OTC
$ 33.20
+4.30 +14.88%
Volume: 790.00
Feb. 25, 2020 9:51a
P/E Ratio
9.88
Dividend Yield
N/A
Market Cap
$1.30 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 7,574.00
-263.00 -3.36%
Volume: 8.35M
Feb. 25, 2020 3:00p
P/E Ratio
8.76
Dividend Yield
2.90%
Market Cap
¥22156.40 billion
Rev. per Employee
¥81.43M
loading...
/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 136.03
+1.54 +1.15%
Volume: 33,175
Feb. 25, 2020 10:11a
P/E Ratio
8.57
Dividend Yield
2.62%
Market Cap
$190.11 billion
Rev. per Employee
$737,463
loading...
/zigman2/quotes/204777714/delayed
JP : Japan: Tokyo
¥ 836.00
-61.00 -6.80%
Volume: 6.92M
Feb. 25, 2020 3:00p
P/E Ratio
8.96
Dividend Yield
4.19%
Market Cap
¥564.92 billion
Rev. per Employee
¥71.32M
loading...
/zigman2/quotes/206646681/delayed
US : U.S.: OTC
$ 8.05
+0.24 +3.07%
Volume: 116.00
Feb. 24, 2020 5:20p
P/E Ratio
9.42
Dividend Yield
N/A
Market Cap
$4.98 billion
Rev. per Employee
$646,191
loading...
/zigman2/quotes/208948266/delayed
JP : Japan: Tokyo
¥ 10,970.00
-340.00 -3.01%
Volume: 1.60M
Feb. 25, 2020 3:00p
P/E Ratio
14.91
Dividend Yield
1.64%
Market Cap
¥1428.58 billion
Rev. per Employee
¥13.41M
loading...
/zigman2/quotes/203182885/delayed
US : U.S.: OTC
$ 109.75
-1.86 -1.67%
Volume: 37.00
Feb. 19, 2020 5:20p
P/E Ratio
16.22
Dividend Yield
N/A
Market Cap
$12.29 billion
Rev. per Employee
$121,375
loading...
/zigman2/quotes/208459594/delayed
JP : Japan: Tokyo
¥ 12,250.00
-235.00 -1.88%
Volume: 2.00M
Feb. 25, 2020 3:00p
P/E Ratio
16.26
Dividend Yield
1.47%
Market Cap
¥2530.49 billion
Rev. per Employee
¥28.38M
loading...
/zigman2/quotes/204809476/delayed
US : U.S.: OTC
$ 100.76
+4.11 +4.25%
Volume: 0.00
Feb. 20, 2020 5:20p
P/E Ratio
14.55
Dividend Yield
N/A
Market Cap
$21.79 billion
Rev. per Employee
$257,261
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
110.4180
-0.3000 -0.2710%
Volume: 0.0000
Feb. 25, 2020 10:12a
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Sarah Turner is MarketWatch's bureau chief in Sydney. Nick Godt is a MarketWatch reporter based in Mumbai.

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