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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 -2.53% 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 -0.57%  rose 0.5% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.67%  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 -1.73% rose 1.1%, and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.47%  climbed 0.1%.


Reuters

The advances came after the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -2.53%  and the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.27% 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 -3.40% /zigman2/quotes/205108732/composite PTR -7.13%  rose 2.9%, and Cnooc Ltd. /zigman2/quotes/203421416/delayed HK:883 -2.14%  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 -2.90% /zigman2/quotes/206839995/composite CSUAY -1.88% gained 0.4%, and China Coal Energy Co. /zigman2/quotes/200280825/delayed CN:601898 -1.78% /zigman2/quotes/205321671/composite CCOZY -5.18%  added 0.2%.

Elsewhere, Fortescue Metals Group Ltd. /zigman2/quotes/202351558/delayed AU:FMG -3.86% /zigman2/quotes/204116626/composite FSUMF -0.80%  spiked 5.4%, and Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -2.25% /zigman2/quotes/202627887/composite RIO -2.23%  moved 2.6% higher in Sydney. In Tokyo, energy producer Inpex Corp. /zigman2/quotes/206689846/delayed JP:1605 -2.46% /zigman2/quotes/206936121/composite IPXHF -7.08% gained 1.8%, and trading house Marubeni Corp. /zigman2/quotes/202870197/delayed JP:8002 -2.72%   /zigman2/quotes/210513544/composite MARUY -3.78%  jumped 1.1%.

In Hong Kong, banking major HSBC Holdings PLC /zigman2/quotes/202687335/delayed HK:5 -3.90% 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 -2.90% /zigman2/quotes/206195919/composite ESPGY -2.86% 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 -1.36%   /zigman2/quotes/201215503/composite HKXCY -1.71%  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 -5.19% /zigman2/quotes/202815238/composite SFTBF -5.14%  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 -2.89% [ /zigman2/quotes/200401218/composite SHCAY -4.06%  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 -0.78%  gaining 5% and Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 -1.93%  rising 2.1%.

Click to Play

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 -0.69%   /zigman2/quotes/204149068/composite TOSYY -2.23%  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 -1.78%   /zigman2/quotes/200537742/composite TM -2.69%  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 -1.00% /zigman2/quotes/207018701/composite CBAUF +6.33%  gained 1.3%, and Australia & New Zealand Banking Group Ltd. /zigman2/quotes/205482049/delayed AU:ANZ -0.73%   /zigman2/quotes/203732563/composite ANZBY -3.40%  added 0.9%, while Telstra /zigman2/quotes/201936124/delayed AU:TLS -0.74%   /zigman2/quotes/209181685/composite TLSYY -2.12%  also climbed 1.2%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,751.62
-747.66 -2.53%
Volume: 0.00
Nov. 26, 2021 3:15p
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 17.58
-0.10 -0.57%
Volume: 69.45M
Nov. 26, 2021 3:00p
P/E Ratio
9.57
Dividend Yield
1.02%
Market Cap
¥341.16 billion
Rev. per Employee
¥7.66M
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,080.52
-659.64 -2.67%
Volume: 1.80M
Nov. 26, 2021 4:09p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,279.30
-128.00 -1.73%
Volume: 577,169
Nov. 26, 2021 5:17p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,936.44
-43.83 -1.47%
Volume: 595,597
Nov. 26, 2021 3:30p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,899.34
-905.04 -2.53%
Volume: 325.39M
Nov. 26, 2021 2:12p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,594.62
-106.84 -2.27%
Volume: 2.10B
Nov. 26, 2021 2:12p
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
$ 3.41
-0.12 -3.40%
Volume: 134.29M
Nov. 26, 2021 4:08p
P/E Ratio
6.03
Dividend Yield
7.70%
Market Cap
$1014.44 billion
Rev. per Employee
$4.65M
loading...
/zigman2/quotes/205108732/composite
US : U.S.: NYSE
$ 42.83
-3.29 -7.13%
Volume: 269,946
Nov. 26, 2021 1:10p
P/E Ratio
8.27
Dividend Yield
7.00%
Market Cap
$130.07 billion
Rev. per Employee
$583,185
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
$ 7.78
-0.17 -2.14%
Volume: 84.90M
Nov. 26, 2021 4:08p
P/E Ratio
6.13
Dividend Yield
7.07%
Market Cap
$347.36 billion
Rev. per Employee
$9.51M
loading...
/zigman2/quotes/202621923/delayed
CN : China: Shanghai
¥ 19.72
-0.59 -2.90%
Volume: 19.77M
Nov. 26, 2021 3:00p
P/E Ratio
8.45
Dividend Yield
9.18%
Market Cap
¥371.04 billion
Rev. per Employee
¥2.92M
loading...
/zigman2/quotes/206839995/composite
US : U.S.: OTC
$ 8.42
-0.16 -1.88%
Volume: 10,250
Nov. 26, 2021 12:53p
P/E Ratio
5.85
Dividend Yield
11.26%
Market Cap
$58.05 billion
Rev. per Employee
$422,834
loading...
/zigman2/quotes/200280825/delayed
CN : China: Shanghai
¥ 6.06
-0.11 -1.78%
Volume: 29.85M
Nov. 26, 2021 3:00p
P/E Ratio
5.91
Dividend Yield
2.21%
Market Cap
¥69.12 billion
Rev. per Employee
¥3.29M
loading...
/zigman2/quotes/205321671/composite
US : U.S.: OTC
$ 10.43
-0.57 -5.18%
Volume: 1,009
Nov. 22, 2021 2:40p
P/E Ratio
3.30
Dividend Yield
3.10%
Market Cap
$10.91 billion
Rev. per Employee
$476,702
loading...
/zigman2/quotes/202351558/delayed
AU : Australia: Sydney
$ 17.19
-0.69 -3.86%
Volume: 9.93M
Nov. 26, 2021 4:10p
P/E Ratio
3.87
Dividend Yield
20.83%
Market Cap
$52.90 billion
Rev. per Employee
$2.94M
loading...
/zigman2/quotes/204116626/composite
US : U.S.: OTC
$ 12.37
-0.10 -0.80%
Volume: 4,431
Nov. 26, 2021 12:26p
P/E Ratio
3.71
Dividend Yield
N/A
Market Cap
$37.70 billion
Rev. per Employee
$2.19M
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 94.46
-2.17 -2.25%
Volume: 1.38M
Nov. 26, 2021 4:10p
P/E Ratio
6.18
Dividend Yield
13.52%
Market Cap
$141.06 billion
Rev. per Employee
$1.36M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 62.33
-1.42 -2.23%
Volume: 3.12M
Nov. 26, 2021 1:10p
P/E Ratio
5.44
Dividend Yield
10.98%
Market Cap
$100.52 billion
Rev. per Employee
$939,693
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 950.00
-24.00 -2.46%
Volume: 12.19M
Nov. 26, 2021 3:00p
P/E Ratio
9.16
Dividend Yield
4.21%
Market Cap
¥1387.20 billion
Rev. per Employee
¥243.77M
loading...
/zigman2/quotes/206936121/composite
US : U.S.: OTC
$ 8.00
-0.61 -7.08%
Volume: 2,700
Nov. 18, 2021 9:52a
P/E Ratio
8.37
Dividend Yield
N/A
Market Cap
$11.92 billion
Rev. per Employee
$2.28M
loading...
/zigman2/quotes/202870197/delayed
JP : Japan: Tokyo
¥ 1,054.00
-29.50 -2.72%
Volume: 6.28M
Nov. 26, 2021 3:00p
P/E Ratio
5.63
Dividend Yield
4.84%
Market Cap
¥1831.12 billion
Rev. per Employee
¥139.27M
loading...
/zigman2/quotes/210513544/composite
US : U.S.: OTC
$ 89.45
-3.51 -3.78%
Volume: 7,779
Nov. 26, 2021 12:51p
P/E Ratio
5.16
Dividend Yield
2.79%
Market Cap
$16.18 billion
Rev. per Employee
$1.31M
loading...
/zigman2/quotes/202687335/delayed
HK : Hong Kong
$ 44.35
-1.80 -3.90%
Volume: 28.43M
Nov. 26, 2021 4:08p
P/E Ratio
10.29
Dividend Yield
3.87%
Market Cap
$876.59 billion
Rev. per Employee
$2.56M
loading...
/zigman2/quotes/205943307/delayed
HK : Hong Kong
$ 0.67
-0.02 -2.90%
Volume: 2.09M
Nov. 26, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.90 billion
Rev. per Employee
$708,000
loading...
/zigman2/quotes/206195919/composite
US : U.S.: OTC
$ 0.17
-0.0050 -2.86%
Volume: 12,000
Nov. 22, 2021 10:05a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$295.21 million
Rev. per Employee
$91,284
loading...
/zigman2/quotes/200234512/delayed
HK : Hong Kong
$ 448.60
-6.20 -1.36%
Volume: 3.04M
Nov. 26, 2021 4:08p
P/E Ratio
44.49
Dividend Yield
2.04%
Market Cap
$567.56 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201215503/composite
US : U.S.: OTC
$ 57.10
-1.00 -1.71%
Volume: 22,739
Nov. 26, 2021 12:57p
P/E Ratio
43.95
Dividend Yield
1.89%
Market Cap
$72.77 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,336.00
-347.00 -5.19%
Volume: 21.74M
Nov. 26, 2021 3:00p
P/E Ratio
3.80
Dividend Yield
0.00%
Market Cap
¥10854.28 billion
Rev. per Employee
¥202.77M
loading...
/zigman2/quotes/202815238/composite
US : U.S.: OTC
$ 54.80
-2.97 -5.14%
Volume: 4,418
Nov. 26, 2021 12:52p
P/E Ratio
3.47
Dividend Yield
N/A
Market Cap
$95.93 billion
Rev. per Employee
$1.91M
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,312.00
-39.00 -2.89%
Volume: 3.79M
Nov. 26, 2021 3:00p
P/E Ratio
10.94
Dividend Yield
2.29%
Market Cap
¥801.37 billion
Rev. per Employee
¥48.06M
loading...
/zigman2/quotes/200401218/composite
US : U.S.: OTC
$ 2.79
-0.12 -4.06%
Volume: 7,855
Nov. 26, 2021 12:45p
P/E Ratio
10.03
Dividend Yield
1.55%
Market Cap
$7.08 billion
Rev. per Employee
$453,139
loading...
/zigman2/quotes/200860615/delayed
JP : Japan: Tokyo
¥ 2,560.00
-20.00 -0.78%
Volume: 4.83M
Nov. 26, 2021 3:00p
P/E Ratio
33.22
Dividend Yield
0.55%
Market Cap
¥3291.25 billion
Rev. per Employee
¥23.08M
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 13,985.00
-275.00 -1.93%
Volume: 3.93M
Nov. 26, 2021 3:00p
P/E Ratio
19.36
Dividend Yield
0.43%
Market Cap
¥17345.41 billion
Rev. per Employee
¥83.01M
loading...
/zigman2/quotes/205628942/delayed
JP : Japan: Tokyo
¥ 4,581.00
-32.00 -0.69%
Volume: 1.43M
Nov. 26, 2021 3:00p
P/E Ratio
12.13
Dividend Yield
1.75%
Market Cap
¥1981.37 billion
Rev. per Employee
¥26.04M
loading...
/zigman2/quotes/204149068/composite
US : U.S.: OTC
$ 19.87
-0.45 -2.23%
Volume: 7,589
Nov. 26, 2021 12:48p
P/E Ratio
11.26
Dividend Yield
3.18%
Market Cap
$17.51 billion
Rev. per Employee
$245,518
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 2,074.50
-37.50 -1.78%
Volume: 22.43M
Nov. 26, 2021 3:00p
P/E Ratio
9.29
Dividend Yield
2.31%
Market Cap
¥28733.44 billion
Rev. per Employee
¥74.30M
loading...
/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 179.83
-4.98 -2.69%
Volume: 171,374
Nov. 26, 2021 1:10p
P/E Ratio
8.64
Dividend Yield
2.21%
Market Cap
$253.94 billion
Rev. per Employee
$700,558
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/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 94.81
-0.96 -1.00%
Volume: 3.05M
Nov. 26, 2021 4:10p
P/E Ratio
17.44
Dividend Yield
3.69%
Market Cap
$161.63 billion
Rev. per Employee
$680,586
loading...
/zigman2/quotes/207018701/composite
US : U.S.: OTC
$ 80.18
+4.78 +6.33%
Volume: 33.00
Nov. 24, 2021 2:18p
P/E Ratio
19.71
Dividend Yield
N/A
Market Cap
$120.94 billion
Rev. per Employee
$507,679
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 27.07
-0.20 -0.73%
Volume: 4.32M
Nov. 26, 2021 4:10p
P/E Ratio
13.20
Dividend Yield
5.25%
Market Cap
$76.26 billion
Rev. per Employee
$608,364
loading...
/zigman2/quotes/203732563/composite
US : U.S.: OTC
$ 19.15
-0.68 -3.40%
Volume: 17,350
Nov. 26, 2021 12:48p
P/E Ratio
12.43
Dividend Yield
5.46%
Market Cap
$54.35 billion
Rev. per Employee
$457,046
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/zigman2/quotes/201936124/delayed
AU : Australia: Sydney
$ 4.05
-0.03 -0.74%
Volume: 19.28M
Nov. 26, 2021 4:10p
P/E Ratio
25.98
Dividend Yield
3.95%
Market Cap
$47.87 billion
Rev. per Employee
$798,001
loading...
/zigman2/quotes/209181685/composite
US : U.S.: OTC
$ 14.32
-0.31 -2.12%
Volume: 10,932
Nov. 26, 2021 12:56p
P/E Ratio
24.73
Dividend Yield
2.32%
Market Cap
$34.11 billion
Rev. per Employee
$595,265
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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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