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Oct. 4, 2020, 11:23 p.m. EDT

Japan’s Nikkei gets the week off to a strong start as stocks in Asia rally early Monday

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By MarketWatch, MarketWatch


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Stocks rallied in Asia early Monday, with Japan’s Nikkei and Hong Kong’s Hang Seng indexes leading the way. Australian stocks were also strong.

Japanese stocks /zigman2/quotes/210597971/delayed JP:NIK -0.44%   were broadly higher thanks partly to a weaker yen after the news of President Trump’s infection with coronavirus dented the market on Friday. Auto, railway and financial stocks topped the gainers. Automaker Subaru Corp. /zigman2/quotes/203522406/delayed JP:7270 -0.10%   is up 4.7%, Central Japan Railway /zigman2/quotes/205638698/delayed JP:9022 -1.02%   is 4.1% higher and Dai-ichi Life Holdings /zigman2/quotes/208507587/delayed JP:8750 -1.88%   is up 4.9%.

The U.S. dollar was fetching 105.56 Japanese yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1691%  , up from 105.09 as of Friday’s Tokyo stock market close. U.S. and Japan policy developments are being closely watched. The Nikkei Stock Average is up 1.3% early.

The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -1.57%   was ahead just over 1.5% in initial trading.

Tech stocks are among the best performers, with Tencent Holdings /zigman2/quotes/204605823/delayed HK:700 +1.32%   rising 2.8%, Xiaomi Corp. /zigman2/quotes/208140246/delayed HK:1810 -3.07%   gaining 1.5% and Sunny Optical Technology up 0.5% /zigman2/quotes/206687505/delayed HK:2382 -0.82%  . Property stocks are also higher, with Hang Lung Properties /zigman2/quotes/200230831/delayed HK:101 -3.95%   gaining 2.7%, Henderson Land Development /zigman2/quotes/208724890/delayed HK:12 -1.68%   rising 1.8% and Sun Hung Kai Properties /zigman2/quotes/209086152/delayed HK:16 -0.73%   up 0.7%. Semiconductor Manufacturing International Corp. /zigman2/quotes/207270096/delayed HK:981 -2.50%   is down 4.5% after saying that export controls imposed by the U.S. could have an adverse impact on its operations.

But Hong Kong-listed casino operators may remain under pressure as Macau’s Golden Week visitor data disappoint, Jefferies says. Visitor numbers to the special administrative region for the first three days of China’s weeklong holiday were 13% of 2019 levels due to lengthier visa approvals and stringent requirements for a negative virus test, the bank says.

Australia’s benchmark stock index shot up more than 2% early Monday as analysts saw reason for optimism in the country’s retail sales data. Excluding Victoria state, where there were strict lockdown measures, August sales seemed better, posting growth of 13% compared with 15% in July.

Stock valuations for many Aussie retailers are already pricing in strong sales, so investors should choose exposures carefully, UBS says. The bank favors retailers with attractive valuations, those that might benefit from the coronavirus situation because they have a strong online presence, or those with longer-term growth opportunities.

It names Woolworths /zigman2/quotes/209906204/delayed AU:WOW +1.12%  , Harvey Norman /zigman2/quotes/203692911/delayed AU:HVN -0.76%  , Adairs /zigman2/quotes/200532765/delayed AU:ADH +1.58%  , Metcash /zigman2/quotes/203560772/delayed AU:MTS -0.57%  , Bapcor /zigman2/quotes/204398496/delayed AU:BAP -0.26%   and Collins /zigman2/quotes/203102126/delayed AU:CKF -0.42%   UBS notes that nationwide August retail spending growth slowed to 7%, compared with 12% in July.

New Zealand’s NZX-50 /zigman2/quotes/211587880/delayed NZ:NZ50GR +1.69%   edged slightly higher in early trading. Gains are driven by a2 Milk /zigman2/quotes/207461975/delayed NZ:ATM -0.09%  , Synlait Milk /zigman2/quotes/200859627/delayed NZ:SML +0.85%  , Ryman Healthcare /zigman2/quotes/207688158/delayed NZ:RYM +1.62%  , Auckland International Airport and Port of Tauranga. Infant formula marketing company a2 Milk rose 0.7% after falling nearly 18% last week on a downgraded earnings outlook for FY 2021. Property for Industry was ups 1.5% after adding a NZ$65 million industrial estate in Auckland to its portfolio of commercial tenants.

The story was compiled from Dow Jones Newswires and Associated Press reports.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,631.45
-125.41 -0.44%
Volume: 0.00
Jan. 22, 2021 3:15p
loading...
/zigman2/quotes/203522406/delayed
JP : Japan: Tokyo
¥ 2,043.00
-2.00 -0.10%
Volume: 2.44M
Jan. 22, 2021 3:00p
P/E Ratio
14.50
Dividend Yield
2.74%
Market Cap
¥1575.93 billion
Rev. per Employee
¥95.45M
loading...
/zigman2/quotes/205638698/delayed
JP : Japan: Tokyo
¥ 14,625.00
-150.00 -1.02%
Volume: 494,400
Jan. 22, 2021 3:00p
P/E Ratio
106.76
Dividend Yield
0.89%
Market Cap
¥2888.30 billion
Rev. per Employee
¥62.31M
loading...
/zigman2/quotes/208507587/delayed
JP : Japan: Tokyo
¥ 1,646.50
-31.50 -1.88%
Volume: 3.69M
Jan. 22, 2021 3:00p
P/E Ratio
76.96
Dividend Yield
3.77%
Market Cap
¥1898.92 billion
Rev. per Employee
¥103.47M
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
103.6690
+0.1750 +0.1691%
Volume: 0.0000
Jan. 22, 2021 2:33a
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,456.84
-470.92 -1.57%
Volume: 2.72M
Jan. 22, 2021 3:18p
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 691.50
+9.00 +1.32%
Volume: 26.23M
Jan. 22, 2021 3:18p
P/E Ratio
49.27
Dividend Yield
0.17%
Market Cap
HK$6463.71 billion
Rev. per Employee
HK$6.80M
loading...
/zigman2/quotes/208140246/delayed
HK : Hong Kong
HK$ 30.00
-0.95 -3.07%
Volume: 266.70M
Jan. 22, 2021 3:18p
P/E Ratio
47.28
Dividend Yield
N/A
Market Cap
HK$804.73 billion
Rev. per Employee
HK$12.85M
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 216.80
-1.80 -0.82%
Volume: 5.45M
Jan. 22, 2021 3:18p
P/E Ratio
49.73
Dividend Yield
0.37%
Market Cap
HK$239.61 billion
Rev. per Employee
HK$2.13M
loading...
/zigman2/quotes/200230831/delayed
HK : Hong Kong
HK$ 20.65
-0.85 -3.95%
Volume: 1.35M
Jan. 22, 2021 3:18p
P/E Ratio
779.25
Dividend Yield
3.68%
Market Cap
HK$94.23 billion
Rev. per Employee
HK$2.12M
loading...
/zigman2/quotes/208724890/delayed
HK : Hong Kong
HK$ 32.15
-0.55 -1.68%
Volume: 2.54M
Jan. 22, 2021 3:18p
P/E Ratio
12.64
Dividend Yield
5.60%
Market Cap
HK$157.35 billion
Rev. per Employee
HK$2.79M
loading...
/zigman2/quotes/209086152/delayed
HK : Hong Kong
HK$ 108.90
-0.80 -0.73%
Volume: 3.11M
Jan. 22, 2021 3:17p
P/E Ratio
13.42
Dividend Yield
4.55%
Market Cap
HK$317.89 billion
Rev. per Employee
HK$1.86M
loading...
/zigman2/quotes/207270096/delayed
HK : Hong Kong
HK$ 27.30
-0.70 -2.50%
Volume: 149.85M
Jan. 22, 2021 3:18p
P/E Ratio
46.48
Dividend Yield
N/A
Market Cap
HK$313.73 billion
Rev. per Employee
HK$1.57M
loading...
/zigman2/quotes/209906204/delayed
AU : Australia: Sydney
$ 40.76
+0.45 +1.12%
Volume: 2.50M
Jan. 22, 2021 4:10p
P/E Ratio
44.27
Dividend Yield
2.31%
Market Cap
$49.79 billion
Rev. per Employee
$284,703
loading...
/zigman2/quotes/203692911/delayed
AU : Australia: Sydney
$ 5.23
-0.04 -0.76%
Volume: 3.97M
Jan. 22, 2021 4:10p
P/E Ratio
13.38
Dividend Yield
3.44%
Market Cap
$6.63 billion
Rev. per Employee
$589,402
loading...
/zigman2/quotes/200532765/delayed
AU : Australia: Sydney
$ 3.86
+0.06 +1.58%
Volume: 1.39M
Jan. 22, 2021 4:10p
P/E Ratio
18.62
Dividend Yield
2.85%
Market Cap
$654.33 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/203560772/delayed
AU : Australia: Sydney
$ 3.47
-0.02 -0.57%
Volume: 3.49M
Jan. 22, 2021 4:10p
P/E Ratio
16.09
Dividend Yield
4.18%
Market Cap
$3.45 billion
Rev. per Employee
$2.17M
loading...
/zigman2/quotes/204398496/delayed
AU : Australia: Sydney
$ 7.73
-0.02 -0.26%
Volume: 615,942
Jan. 22, 2021 4:10p
P/E Ratio
28.79
Dividend Yield
2.26%
Market Cap
$2.66 billion
Rev. per Employee
$325,055
loading...
/zigman2/quotes/203102126/delayed
AU : Australia: Sydney
$ 9.53
-0.04 -0.42%
Volume: 294,765
Jan. 22, 2021 4:10p
P/E Ratio
40.85
Dividend Yield
2.20%
Market Cap
$1.11 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
13,333.43
+221.24 +1.69%
Volume: 0.00
Jan. 22, 2021 5:01p
loading...
/zigman2/quotes/207461975/delayed
NZ : New Zealand: NZX
$ 10.90
-0.01 -0.09%
Volume: 771,510
Jan. 22, 2021 5:00p
P/E Ratio
20.91
Dividend Yield
N/A
Market Cap
$8.18 billion
Rev. per Employee
$6.11M
loading...
/zigman2/quotes/200859627/delayed
NZ : New Zealand: NZX
$ 4.74
+0.04 +0.85%
Volume: 83,218
Jan. 22, 2021 5:00p
P/E Ratio
11.33
Dividend Yield
N/A
Market Cap
$1.03 billion
Rev. per Employee
$1.34M
loading...
/zigman2/quotes/207688158/delayed
NZ : New Zealand: NZX
$ 15.71
+0.25 +1.62%
Volume: 487,484
Jan. 22, 2021 5:00p
P/E Ratio
27.19
Dividend Yield
1.37%
Market Cap
$7.63 billion
Rev. per Employee
N/A
loading...

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