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May 28, 2013, 5:06 a.m. EDT

Japan, China stocks rise to lead broad Asia gains

Exporters rise in Tokyo on yen’s pullback, but some financials drop

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Japanese stocks overcame volatility to advance Tuesday as a pullback in the yen spurred exporters, while shares in Hong Kong and Shanghai jumped on a rally in property and brokerage firms.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.23%  ended the day 1.2% higher at 14,311.98, after witnessing sharp swings and sliding under the 14,000-point level in early trading. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 +0.61% climbed 1.2%. Both benchmarks changed direction a few times Tuesday after plunging more than 3% in the previous session.


Reuters

“The Nikkei [Average] continues to dance like a puppet on strings, as questions regarding the strength and validity of its bond market ramps up,” said IG Markets strategist Evan Lucas.

Last week, a sudden spike in Japanese government bond yields helped push the Nikkei Average to a 7.3% plunge on Thursday.

Elsewhere, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.74%  rose 0.2% for its first advance in six trading days and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.57%  gained 0.3%.

Meanwhile, the Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 -2.53%  jumped 1.2% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.47%  added 1.1%.

Among stock movers in Tokyo, Fast Retailing Co. /zigman2/quotes/200663563/delayed JP:9983 -3.39% /zigman2/quotes/203924235/delayed FRCOY -6.68%  climbed 2.3%, Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 +1.54% /zigman2/quotes/208567357/composite SNE -2.56%  gained 3.2%, and Mazda Motor Corp. /zigman2/quotes/204777714/delayed JP:7261 +3.97% /zigman2/quotes/206326885/delayed MZDAY -2.47%  rose 6.5%, as the U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.2121% climbed to ¥102.08 after dropping below ¥101 on Monday.

Click to Play

China’s role in reining in North Korea

China's relationship with North Korea is coming into focus as Pyongyang refuses to engage in talks with the international community.

Chinese property and brokerage stocks posted strong gains on strong buying witnessed in the afternoon trading session.

Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 -1.86% gained 3.3%, Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 -2.45%  climbed 4.4% and Haitong Securities Co. /zigman2/quotes/203443667/delayed CN:600837 +1.25%   rose 4.8% in Shanghai trading. The Hong Kong-listed shares of Haitong /zigman2/quotes/204388323/delayed HK:665 +1.27%  rose 4.7%, while China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 -0.95% /zigman2/quotes/201656413/delayed CRBJF 0.00%  added 3.2%.

Also in Hong Kong, China Construction Bank Corp. /zigman2/quotes/208974133/delayed HK:939 +1.72% /zigman2/quotes/207732534/delayed CICHY -0.43%  rose 1.4%, and Industrial & Commercial Bank of China Ltd. /zigman2/quotes/201401473/delayed HK:1398 +3.60% /zigman2/quotes/202401350/delayed IDCBY +0.30%  added 1.7%, with Bernstein Research raising its price target for both stocks.

“We believe that further reforms from the new leadership will serve as a catalyst for a re-rating of the bank stocks upwards,” Bernstein wrote in a note to clients.

Banks supported the Australian market snap out of a losing streak, caused by profit-taking in high dividend-yielding stocks.

Westpac Banking Corp. /zigman2/quotes/203084975/delayed AU:WBC +0.12%   /zigman2/quotes/206661702/composite WBK -0.47%  gained 0.9%, heavyweight Commonwealth Bank of Australia /zigman2/quotes/200638713/delayed AU:CBA +0.08% /zigman2/quotes/207018701/delayed CBAUF +0.15%  added 0.6%, and Bank of Queensland Ltd. /zigman2/quotes/205781039/delayed AU:BOQ +1.00%  rose 1.4%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,864.32
-65.79 -0.23%
Volume: 0.00
March 5, 2021 3:15p
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/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,896.18
+11.44 +0.61%
Volume: 0.00
March 5, 2021 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,710.80
-49.90 -0.74%
Volume: 702,246
March 5, 2021 5:05p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,026.26
-17.23 -0.57%
Volume: 1.19M
March 5, 2021 3:32p
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 22.34
-0.58 -2.53%
Volume: 88.02M
March 5, 2021 3:00p
P/E Ratio
15.40
Dividend Yield
0.81%
Market Cap
¥444.78 billion
Rev. per Employee
¥7.66M
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,098.29
-138.50 -0.47%
Volume: 4.00M
March 5, 2021 4:09p
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/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 95,870.00
-3,360 -3.39%
Volume: 1.39M
March 5, 2021 3:00p
P/E Ratio
109.17
Dividend Yield
0.50%
Market Cap
¥10132.94 billion
Rev. per Employee
¥34.80M
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/zigman2/quotes/203924235/delayed
US : U.S.: OTC
$ 91.02
-6.52 -6.68%
Volume: 20,507
March 4, 2021 3:58p
P/E Ratio
110.09
Dividend Yield
0.37%
Market Cap
$94.17 billion
Rev. per Employee
$322,245
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 11,215.00
+170.00 +1.54%
Volume: 6.45M
March 5, 2021 3:00p
P/E Ratio
13.01
Dividend Yield
0.49%
Market Cap
¥14008.28 billion
Rev. per Employee
¥73.75M
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/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 101.84
-2.68 -2.56%
Volume: 19,843
March 4, 2021 7:00p
P/E Ratio
12.51
Dividend Yield
0.34%
Market Cap
$126.91 billion
Rev. per Employee
$678,337
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/zigman2/quotes/204777714/delayed
JP : Japan: Tokyo
¥ 917.00
+35.00 +3.97%
Volume: 4.96M
March 5, 2021 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥555.47 billion
Rev. per Employee
¥67.95M
loading...
/zigman2/quotes/206326885/delayed
US : U.S.: OTC
$ 4.04
-0.10 -2.47%
Volume: 35,663
March 4, 2021 3:52p
P/E Ratio
N/A
Dividend Yield
1.56%
Market Cap
$5.16 billion
Rev. per Employee
$625,010
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.2050
+0.2290 +0.2121%
Volume: 0.0000
March 5, 2021 9:28a
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/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 15.33
-0.29 -1.86%
Volume: 98.64M
March 5, 2021 3:00p
P/E Ratio
6.46
Dividend Yield
5.35%
Market Cap
¥186.96 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 12.34
-0.31 -2.45%
Volume: 43.69M
March 5, 2021 3:00p
P/E Ratio
5.78
Dividend Yield
5.43%
Market Cap
¥57.11 billion
Rev. per Employee
¥6.28M
loading...
/zigman2/quotes/203443667/delayed
CN : China: Shanghai
¥ 12.12
+0.15 +1.25%
Volume: 67.06M
March 5, 2021 3:00p
P/E Ratio
13.28
Dividend Yield
0.00%
Market Cap
¥136.00 billion
Rev. per Employee
¥4.69M
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/zigman2/quotes/204388323/delayed
HK : Hong Kong
HK$ 2.39
+0.03 +1.27%
Volume: 7.52M
March 5, 2021 4:08p
P/E Ratio
13.51
Dividend Yield
3.64%
Market Cap
HK$13.83 billion
Rev. per Employee
HK$6.28M
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/zigman2/quotes/202417326/delayed
HK : Hong Kong
HK$ 36.60
-0.35 -0.95%
Volume: 11.27M
March 5, 2021 4:08p
P/E Ratio
8.46
Dividend Yield
3.26%
Market Cap
HK$263.49 billion
Rev. per Employee
HK$3.68M
loading...
/zigman2/quotes/201656413/delayed
US : U.S.: OTC
$ 4.78
0.00 0.00%
Volume: 100.00
March 3, 2021 1:47p
P/E Ratio
8.62
Dividend Yield
N/A
Market Cap
$34.89 billion
Rev. per Employee
$470,019
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.49
+0.11 +1.72%
Volume: 635.91M
March 5, 2021 4:08p
P/E Ratio
5.91
Dividend Yield
5.39%
Market Cap
HK$1619.60 billion
Rev. per Employee
HK$3.58M
loading...
/zigman2/quotes/207732534/delayed
US : U.S.: OTC
$ 16.24
-0.07 -0.43%
Volume: 0.00
March 4, 2021 3:57p
P/E Ratio
5.70
Dividend Yield
4.69%
Market Cap
$208.74 billion
Rev. per Employee
$455,946
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 5.47
+0.19 +3.60%
Volume: 599.56M
March 5, 2021 4:08p
P/E Ratio
6.07
Dividend Yield
5.25%
Market Cap
HK$2220.83 billion
Rev. per Employee
HK$3.26M
loading...
/zigman2/quotes/202401350/delayed
US : U.S.: OTC
$ 13.49
+0.04 +0.30%
Volume: 51,566
March 4, 2021 3:59p
P/E Ratio
5.83
Dividend Yield
4.57%
Market Cap
$286.23 billion
Rev. per Employee
$416,033
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/zigman2/quotes/203084975/delayed
AU : Australia: Sydney
$ 24.87
+0.03 +0.12%
Volume: 7.75M
March 5, 2021 4:10p
P/E Ratio
39.41
Dividend Yield
1.25%
Market Cap
$89.88 billion
Rev. per Employee
$826,888
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/zigman2/quotes/206661702/composite
US : U.S.: NYSE
$ 19.15
-0.09 -0.47%
Volume: 113,682
March 4, 2021 7:00p
P/E Ratio
44.83
Dividend Yield
1.17%
Market Cap
$71.01 billion
Rev. per Employee
$560,067
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/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 86.45
+0.07 +0.08%
Volume: 3.13M
March 5, 2021 4:10p
P/E Ratio
19.25
Dividend Yield
2.87%
Market Cap
$153.10 billion
Rev. per Employee
$917,769
loading...
/zigman2/quotes/207018701/delayed
US : U.S.: OTC
$ 66.12
+0.10 +0.15%
Volume: 3,200
March 2, 2021 2:16p
P/E Ratio
21.19
Dividend Yield
N/A
Market Cap
$117.00 billion
Rev. per Employee
$615,248
loading...
/zigman2/quotes/205781039/delayed
AU : Australia: Sydney
$ 9.06
+0.09 +1.00%
Volume: 7.65M
March 5, 2021 4:10p
P/E Ratio
39.60
Dividend Yield
1.32%
Market Cap
$4.90 billion
Rev. per Employee
$967,838
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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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