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May 8, 2013, 5:01 a.m. EDT

Asia stocks rise on China data; Tokyo rallies

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Asian stock markets rallied on Wednesday after another record finish for key U.S. equity indexes and strong Chinese trade data, with Japanese shares edging closer to five-year highs.

The Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -3.34% climbed 0.7% to end at 14,285.69, its highest close since June 18, 2008.

The Shanghai Composite /zigman2/quotes/206600939/delayed CN:000001 -1.25%  rose 0.5% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.27%  added 0.9%, after official data showed China posted a trade surplus of $18.16 billion in April. Exports jumped 14.7% from a year-earlier and imports rose 16.8%, with both exceeding expectations.

Stocks also rallied in other markets that count China as a key trading partner. Taiwan’s Taiex  gained 1.3%, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.60% rose 1.1%, and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.18%  climbed 0.1%.


Reuters

The advances came after the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -3.56%  and the S&P 500 /zigman2/quotes/210599714/realtime SPX -3.35% ended at a record level Tuesday. Sentiment was also aided by news from Europe, where Germany’s benchmark index ended at a record high and the Stoxx Europe 600 finished at its highest level since June 2008.

“At present, markets are driven by heightened stimulus and the fact that economic data remain in the Goldilocks range — weak enough to warrant continued stimulus, but strong enough to keep earnings expectations positive,” said Matthew Sherwood, head of investment market research at Perpetual.

Stock movers

The resource sector was a notable gainer across the region as the jump in monthly imports underlined the strength of Chinese demand.

“The commodity import picture suggest some moderate recovery in April,” analysts at J.P. Morgan wrote in a note to clients.

PetroChina Co. /zigman2/quotes/204979431/delayed HK:857 -0.93% /zigman2/quotes/205108732/composite PTR -4.96%  rose 2.9%, and Cnooc Ltd. /zigman2/quotes/203421416/delayed HK:883 -1.53% /zigman2/quotes/204964401/composite CEO -4.42%  climbed 1.4% in Hong Kong, despite an overnight drop in prices of several commodities; in Shanghai, coal miners China Shenhua Energy Co. /zigman2/quotes/202621923/delayed CN:601088 -1.75% /zigman2/quotes/206839995/delayed CSUAY -2.09% gained 0.4%, and China Coal Energy Co. /zigman2/quotes/200280825/delayed CN:601898 -2.45% /zigman2/quotes/205321671/delayed CCOZY -1.24%  added 0.2%.

Elsewhere, Fortescue Metals Group Ltd. /zigman2/quotes/202351558/delayed AU:FMG -0.64% /zigman2/quotes/204116626/delayed FSUMF -3.98%  spiked 5.4%, and Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -1.74% /zigman2/quotes/202627887/composite RIO -6.21%  moved 2.6% higher in Sydney. In Tokyo, energy producer Inpex Corp. /zigman2/quotes/206689846/delayed JP:1605 -4.63% /zigman2/quotes/206936121/delayed IPXHF +5.94% gained 1.8%, and trading house Marubeni Corp. /zigman2/quotes/202870197/delayed JP:8002 -3.97%   /zigman2/quotes/210513544/delayed MARUY -0.69%  jumped 1.1%.

In Hong Kong, banking major HSBC Holdings PLC /zigman2/quotes/202687335/delayed HK:5 -0.80% jumped 1.7% to front the market advance a day after it reported a surge in first-quarter profits.

On the downside, Esprit Holdings Ltd. /zigman2/quotes/205943307/delayed HK:330 +2.22% /zigman2/quotes/206195919/delayed ESPGY +5.26% dropped 4.8% after the apparel retailer issued a profit warning.

Shares of bourse operator Hong Kong Exchanges & Clearing Ltd. /zigman2/quotes/200234512/delayed HK:388 +0.38%   /zigman2/quotes/201215503/delayed HKXCY -3.67%  slid 1.1% after its quarterly profit rose just 1% from a year-earlier, although revenue increased 20%..

In Tokyo, meanwhile, shares of Softbank Corp. /zigman2/quotes/207303954/delayed JP:9984 -3.60% /zigman2/quotes/202815238/delayed SFTBF -4.32%  advanced 2.9% after Alibaba Group Holding Ltd. — in which the mobile-service provider holds a stake — said its profits nearly tripled in the fourth quarter of 2012.

The gains followed a day after Softbank unveiled six new smartphone models, including handsets that are compatible with high-definition television broadcasts for mobile phones, according to a Nikkei newspaper report.

Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 -5.66% [ /zigman2/quotes/200401218/delayed SHCAY -5.25%  jumped 6.3% after the Nikkei newspaper reported two banks had increased the line of credit they set up for the company.

Some exporters also advanced on strong cues from Wall Street, with Olympus Corp. /zigman2/quotes/200860615/delayed JP:7733 -2.46%  gaining 5% and Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 -2.81% /zigman2/quotes/208567357/composite SNE -3.05%  rising 2.1%.

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Dow breaks 15,000

Dow closes above 15,000 in another landmark on the market's record run.

But shares of Toshiba Corp. /zigman2/quotes/205628942/delayed JP:6502 -3.85%   /zigman2/quotes/204149068/delayed TOSYY -2.44%  tumbled 5% after the Nikkei separately reported the company may have missed its operating profit forecast for the fiscal year ended March 31.

After the close, Toshiba reported a 62% drop in its quarterly net profit, missing analysts’ expectations.

In other after-market earnings, Toyota Motor Corp. /zigman2/quotes/203803129/delayed JP:7203 -3.36%   /zigman2/quotes/200537742/composite TM -3.27%  reported its January-March profit more than doubled, far exceeding analysts’ forecasts. Shares of Toyota had closed 1.4% higher ahead of the results.

Australian shares, which ended lower on Tuesday after the Reserve Bank of Australia (RBA) surprised most economists with an interest rate cut, gained as some banks and telecommunication major Telstra Corp. recovered on the back of their dividend appeal.

“By no means is the yield trade over following yesterday’s surprise rate cut by the RBA. And with scope for the RBA to cut rates further, we will continue to see investors forced to seek higher returns, away from bonds and bank deposits and into stocks,” said Rivkin Securities analyst Tim Radford.

Shares of Commonwealth Bank of Australia /zigman2/quotes/200638713/delayed AU:CBA -1.35% /zigman2/quotes/207018701/delayed CBAUF +0.48%  gained 1.3%, and Australia & New Zealand Banking Group Ltd. /zigman2/quotes/205482049/delayed AU:ANZ -0.89%   /zigman2/quotes/203732563/delayed ANZBY -3.26%  added 0.9%, while Telstra /zigman2/quotes/201936124/delayed AU:TLS -2.96%   /zigman2/quotes/209181685/delayed TLSYY -1.53%  also climbed 1.2%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,605.41
-781.33 -3.34%
Volume: 0.00
Feb. 25, 2020 3:15p
loading...
/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/210598030/delayed
HK : Hong Kong Exchange
26,893.23
+72.35 +0.27%
Volume: 1.92M
Feb. 25, 2020 4:37p
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/210598069/delayed
KR : Korea Exchange
2,103.61
+24.57 +1.18%
Volume: 1.57M
Feb. 25, 2020 3:32p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,960.80
-1,032 -3.56%
Volume: 458.71M
Feb. 24, 2020 5:04p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,225.89
-111.86 -3.35%
Volume: 2.75B
Feb. 24, 2020 5:04p
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
$ 41.23
-2.15 -4.96%
Volume: 198,697
Feb. 24, 2020 6:30p
P/E Ratio
9.53
Dividend Yield
4.10%
Market Cap
$8.70 billion
Rev. per Employee
$678,384
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 11.56
-0.18 -1.53%
Volume: 57.61M
Feb. 25, 2020 4:08p
P/E Ratio
7.82
Dividend Yield
6.31%
Market Cap
HK$524.16 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/204964401/composite
US : U.S.: NYSE
$ 148.82
-6.88 -4.42%
Volume: 164,532
Feb. 24, 2020 6:30p
P/E Ratio
7.89
Dividend Yield
5.61%
Market Cap
$66.44 billion
Rev. per Employee
$1.78M
loading...
/zigman2/quotes/202621923/delayed
CN : China: Shanghai
¥ 16.24
-0.29 -1.75%
Volume: 33.16M
Feb. 25, 2020 3:00p
P/E Ratio
7.07
Dividend Yield
5.42%
Market Cap
¥328.78 billion
Rev. per Employee
¥2.92M
loading...
/zigman2/quotes/206839995/delayed
US : U.S.: OTC
$ 7.02
-0.15 -2.09%
Volume: 38,628
Feb. 24, 2020 3:50p
P/E Ratio
5.27
Dividend Yield
6.03%
Market Cap
$6.06 billion
Rev. per Employee
$448,167
loading...
/zigman2/quotes/200280825/delayed
CN : China: Shanghai
¥ 4.38
-0.11 -2.45%
Volume: 21.37M
Feb. 25, 2020 3:00p
P/E Ratio
11.45
Dividend Yield
1.78%
Market Cap
¥59.53 billion
Rev. per Employee
¥2.35M
loading...
/zigman2/quotes/205321671/delayed
US : U.S.: OTC
$ 7.18
-0.09 -1.24%
Volume: 0.00
Feb. 13, 2020 9:41a
P/E Ratio
8.94
Dividend Yield
2.52%
Market Cap
$14.01 billion
Rev. per Employee
$354,816
loading...
/zigman2/quotes/202351558/delayed
AU : Australia: Sydney
$ 10.93
-0.07 -0.64%
Volume: 18.24M
Feb. 25, 2020 4:10p
P/E Ratio
4.70
Dividend Yield
9.15%
Market Cap
$33.86 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204116626/delayed
US : U.S.: OTC
$ 7.00
-0.29 -3.98%
Volume: 10,130
Feb. 24, 2020 2:08p
P/E Ratio
4.33
Dividend Yield
N/A
Market Cap
$21.54 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 93.60
-1.66 -1.74%
Volume: 1.78M
Feb. 25, 2020 4:10p
P/E Ratio
8.53
Dividend Yield
9.59%
Market Cap
$154.74 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 51.23
-3.39 -6.21%
Volume: 2.85M
Feb. 24, 2020 6:30p
P/E Ratio
6.51
Dividend Yield
6.46%
Market Cap
$64.53 billion
Rev. per Employee
$852,406
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/206936121/delayed
US : U.S.: OTC
$ 9.10
+0.51 +5.94%
Volume: 0.00
Feb. 20, 2020 5:20p
P/E Ratio
9.21
Dividend Yield
N/A
Market Cap
$13.29 billion
Rev. per Employee
$2.64M
loading...
/zigman2/quotes/202870197/delayed
JP : Japan: Tokyo
¥ 757.50
-31.30 -3.97%
Volume: 8.57M
Feb. 25, 2020 3:00p
P/E Ratio
8.60
Dividend Yield
4.62%
Market Cap
¥1368.95 billion
Rev. per Employee
¥181.19M
loading...
/zigman2/quotes/210513544/delayed
US : U.S.: OTC
$ 71.50
-0.50 -0.69%
Volume: 425.00
Feb. 24, 2020 5:20p
P/E Ratio
8.84
Dividend Yield
3.63%
Market Cap
$12.37 billion
Rev. per Employee
$1.64M
loading...
/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 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$2.88M
loading...
/zigman2/quotes/205943307/delayed
HK : Hong Kong
HK$ 1.38
+0.03 +2.22%
Volume: 2.01M
Feb. 25, 2020 4:08p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
HK$2.54 billion
Rev. per Employee
HK$2.22M
loading...
/zigman2/quotes/206195919/delayed
US : U.S.: OTC
$ 0.39
+0.02 +5.26%
Volume: 0.00
Jan. 23, 2020 3:38p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$325.99 million
Rev. per Employee
$282,717
loading...
/zigman2/quotes/200234512/delayed
HK : Hong Kong
HK$ 261.80
+1.00 +0.38%
Volume: 4.17M
Feb. 25, 2020 4:08p
P/E Ratio
35.57
Dividend Yield
2.59%
Market Cap
HK$328.11 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201215503/delayed
US : U.S.: OTC
$ 33.17
-1.26 -3.67%
Volume: 0.00
Feb. 24, 2020 3:50p
P/E Ratio
35.32
Dividend Yield
2.32%
Market Cap
$42.09 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,460.00
-204.00 -3.60%
Volume: 20.41M
Feb. 25, 2020 3:00p
P/E Ratio
36.63
Dividend Yield
0.81%
Market Cap
¥11732.20 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/202815238/delayed
US : U.S.: OTC
$ 48.32
-2.18 -4.32%
Volume: 0.00
Feb. 24, 2020 3:22p
P/E Ratio
37.62
Dividend Yield
N/A
Market Cap
$100.09 billion
Rev. per Employee
$1.15M
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,399.00
-84.00 -5.66%
Volume: 2.61M
Feb. 25, 2020 3:00p
P/E Ratio
14.29
Dividend Yield
1.79%
Market Cap
¥905.88 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/200401218/delayed
US : U.S.: OTC
$ 3.07
-0.17 -5.25%
Volume: 52,032
Feb. 24, 2020 3:58p
P/E Ratio
14.31
Dividend Yield
0.95%
Market Cap
$7.12 billion
Rev. per Employee
$454,670
loading...
/zigman2/quotes/200860615/delayed
JP : Japan: Tokyo
¥ 2,025.00
-51.00 -2.46%
Volume: 9.87M
Feb. 25, 2020 3:00p
P/E Ratio
43.70
Dividend Yield
0.49%
Market Cap
¥2668.85 billion
Rev. per Employee
¥22.14M
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,269.00
-210.00 -2.81%
Volume: 8.51M
Feb. 25, 2020 3:00p
P/E Ratio
14.01
Dividend Yield
0.62%
Market Cap
¥9172.90 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 63.93
-2.01 -3.05%
Volume: 1.41M
Feb. 24, 2020 6:30p
P/E Ratio
13.40
Dividend Yield
0.42%
Market Cap
$78.40 billion
Rev. per Employee
$654,652
loading...
/zigman2/quotes/205628942/delayed
JP : Japan: Tokyo
¥ 3,125.00
-125.00 -3.85%
Volume: 3.42M
Feb. 25, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.96%
Market Cap
¥1474.14 billion
Rev. per Employee
¥26.86M
loading...
/zigman2/quotes/204149068/delayed
US : U.S.: OTC
$ 14.00
-0.35 -2.44%
Volume: 18,421
Feb. 24, 2020 3:56p
P/E Ratio
N/A
Dividend Yield
0.46%
Market Cap
$13.32 billion
Rev. per Employee
$243,606
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/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
$ 134.49
-4.55 -3.27%
Volume: 398,777
Feb. 24, 2020 6:30p
P/E Ratio
8.47
Dividend Yield
2.65%
Market Cap
$190.11 billion
Rev. per Employee
$737,463
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/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 86.80
-1.19 -1.35%
Volume: 3.48M
Feb. 25, 2020 4:10p
P/E Ratio
15.99
Dividend Yield
4.97%
Market Cap
$155.69 billion
Rev. per Employee
$919,022
loading...
/zigman2/quotes/207018701/delayed
US : U.S.: OTC
$ 56.58
+0.27 +0.48%
Volume: 250.00
Feb. 24, 2020 9:30a
P/E Ratio
15.04
Dividend Yield
N/A
Market Cap
$100.11 billion
Rev. per Employee
$687,071
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/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/203732563/delayed
US : U.S.: OTC
$ 17.39
-0.59 -3.26%
Volume: 87,281
Feb. 24, 2020 3:55p
P/E Ratio
12.27
Dividend Yield
6.25%
Market Cap
$50.36 billion
Rev. per Employee
$690,358
loading...
/zigman2/quotes/201936124/delayed
AU : Australia: Sydney
$ 3.60
-0.11 -2.96%
Volume: 56.90M
Feb. 25, 2020 4:10p
P/E Ratio
20.80
Dividend Yield
4.44%
Market Cap
$44.09 billion
Rev. per Employee
$774,100
loading...
/zigman2/quotes/209181685/delayed
US : U.S.: OTC
$ 11.91
-0.19 -1.53%
Volume: 0.00
Feb. 24, 2020 3:47p
P/E Ratio
19.83
Dividend Yield
3.34%
Market Cap
$29.18 billion
Rev. per Employee
$579,274
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Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Follow him on Twitter @MktwKumar.

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