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Jan. 8, 2015, 3:52 a.m. EST

Japan stocks post biggest advance in three weeks

China banks slide after analyst downgrades

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By Laura He, MarketWatch


Reuters
Japan stocks rose the most in three weeks on Thursday, while other Asian markets mostly gained.

HONG KONG (MarketWatch) -- Japan stocks extended gains Thursday, rising the most in three weeks and taking a cue from Wall Street gains as oil prices continued to firm up.

The Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -0.39%   finished up 1.7%, posting its biggest daily percentage increase in nearly three weeks, which came on the heels of a rebound for U.S. stocks after five days of losses. The Japanese stock index closed marginally higher in the previous day, ending a four-day losing streak.

The broader Topix /zigman2/quotes/210598092/delayed JP:180460 -0.03%  ended up 1.3%, while the yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.2105%   weakened to ¥119.76 per dollar, compared with ¥119.16 late Wednesday in New York.

Tech companies traded broadly higher, with electronics component maker TDK Corporation /zigman2/quotes/208948266/delayed JP:6762 -1.22%   jumping 3.2%, semiconductor manufacturer Renesas Electronics Corporation /zigman2/quotes/203872935/delayed JP:6723 -0.90% climbing 2.4%, and console maker Nintendo Co., Ltd.   higher by 2.3%.

In Hong Kong, the Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.13%   rose for a second straight day, up 0.7%, with markets heavyweights Tencent Holdings /zigman2/quotes/204605823/delayed HK:700 -2.24%  and China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 -0.97%   helping support the benchmark index. Tencent Holdings improved by 2.3%, and China Mobile tacked on 2%.

Other major Asian markets mostly ended higher, as Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.33%  rose 0.5%, and Seoul’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 -1.49%  gained 1.1%.

However, on the Chinese mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.31%  retreated 2.4%, snapping a four-day winning streak. Losses were led by banks after Deutsche Bank and Bank of America Merrill Lynch downgraded several A-share stocks after big gains in the sector. The Wall Street Journal reported.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,386.74
-92.41 -0.39%
Volume: 0.00
Feb. 21, 2020 3:15p
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/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,674.00
-0.48 -0.03%
Volume: 0.00
Feb. 21, 2020 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
111.8690
-0.2360 -0.2105%
Volume: 0.0000
Feb. 21, 2020 2:30a
loading...
/zigman2/quotes/208948266/delayed
JP : Japan: Tokyo
¥ 11,310.00
-140.00 -1.22%
Volume: 762,500
Feb. 21, 2020 3:00p
P/E Ratio
15.37
Dividend Yield
1.59%
Market Cap
¥1446.26 billion
Rev. per Employee
¥13.41M
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/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 772.00
-7.00 -0.90%
Volume: 5.16M
Feb. 21, 2020 3:00p
P/E Ratio
604.92
Dividend Yield
N/A
Market Cap
¥1332.31 billion
Rev. per Employee
¥36.92M
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,297.57
-311.59 -1.13%
Volume: 1.39M
Feb. 21, 2020 3:15p
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 400.80
-9.20 -2.24%
Volume: 12.35M
Feb. 21, 2020 3:15p
P/E Ratio
39.07
Dividend Yield
0.25%
Market Cap
HK$3885.42 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 66.10
-0.65 -0.97%
Volume: 7.56M
Feb. 21, 2020 3:15p
P/E Ratio
10.88
Dividend Yield
4.41%
Market Cap
HK$1366.74 billion
Rev. per Employee
HK$1.88M
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,139.00
-23.50 -0.33%
Volume: 1.07M
Feb. 21, 2020 5:17p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,162.84
-32.66 -1.49%
Volume: 619,266
Feb. 21, 2020 3:33p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,039.67
+9.52 +0.31%
Volume: 36.46B
Feb. 21, 2020 3:01p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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