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July 9, 2013, 4:25 a.m. EDT

Asian stocks rise after Alcoa results, China data

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Asian markets rebounded Tuesday after a higher finish on Wall Street and better-than-expected results from Alcoa Inc. Mainland Chinese shares rose after a choppy session as investors digested data showing an increase in consumer prices.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.35%  jumped 2.6% for its highest finish in six weeks, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.24% gained 1.5% and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.14% added 0.7% to catch up with extended gains on Wall Street, where stocks clinched a third straight day of gains Monday.


Reuters
Regional markets rebound following extended gains on Wall Street and Alcoa’s results.

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.40%  inched up 0.4% after changing direction a few times, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.49% gained 0.5%.

“The good vibes from the commencement of Wall Street’s second-quarter reporting season has continued to spread cheer,” said Betty Lam, a sales trader at CMC Markets.

Alcoa /zigman2/quotes/200686102/composite AA -1.28%  began the U.S. reporting season at the end of the regular Wall Street trading session, with the aluminum major’s adjusted second-quarter earnings topping estimates.

However, “not all Asian markets are feeling the love, with Chinese equities bouncing between green and red today, fueled by mixed pricing and inflation data,” Lam said.

Official data released Tuesday showed June consumer prices in China rose 2.7% from the year-earlier month, while producer prices continued to deflate for the 16th straight month, dropping 2.7%.

/zigman2/quotes/210598127/delayed SHCOMP 3,101.69, +12.38, +0.40%
/zigman2/quotes/210598030/delayed HSI 17,573.58, -87.32, -0.49%
One-year percentage changes
Shanghai Composite and Hang Seng Index

The data had “little implication for policy, given a pop in food prices was the sole driver” of the surprise increase in consumer prices, said Annette Beacher, TD Securities’ head of currencies and interest-rates research in the Asia Pacific.

“The People’s Bank of China has little incentive to alter current monetary policy settings, given buoyant house prices and gross domestic product likely to expand this year close to the target rate of 7.5%,” Beacher said.

U.S. equity index futures advanced after the inflation figures, while the Australian dollar /zigman2/quotes/210560947/realtime/sampled AUDUSD -0.0148% — which is sensitive to Chinese economic data — charted a choppy path, also reacting to data showing business conditions hit a four-year low.

In Hong Kong trade, shares of China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 +1.27%  rose 0.6%, and China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 +2.09% /zigman2/quotes/201656413/composite CRBJF +7.86%  gained 1.2% to recover some recent losses.

Property developers declined in Shanghai, meanwhile, with Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 +7.93%  losing 4.4%, and Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 +5.71%  falling 2.8%.

Gains were spread across several sectors in Tokyo. Shares of Sumitomo Realty & Development Co. /zigman2/quotes/206628792/delayed JP:8830 +0.56% /zigman2/quotes/205763034/composite SURDF +1.42% climbed 4.7%, utility Tokyo Electric Power Co. /zigman2/quotes/202771076/delayed JP:9501 +4.60% /zigman2/quotes/205839055/composite TKECY +45.26% rose 6.4%, apparel retailer Fast Retailing Co. /zigman2/quotes/200663563/delayed JP:9983 -0.84% /zigman2/quotes/203924235/composite FRCOY -2.19%  added 4.5% and telecommunications firm KDDI Corp. /zigman2/quotes/204923990/delayed JP:9433 +0.10%   /zigman2/quotes/205540401/composite KDDIY -0.34% gained 4.1%.

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Dai-ichi Life Insurance Co. /zigman2/quotes/208507587/delayed JP:8750 +0.32%   /zigman2/quotes/200865545/composite DCNSF +0.12% advanced 2% and Tokio Marine Holdings Inc. /zigman2/quotes/210254144/delayed JP:8766 +1.15% /zigman2/quotes/208992593/composite TKOMY +3.83% rose 2.2% after the Nikkei newspaper reported Japanese insurers were likely to be excluded from new global capital requirements set to take effect in 2016.

Hino Motors Ltd. /zigman2/quotes/209422954/delayed JP:7205 +0.32% /zigman2/quotes/207652388/composite HINOY 0.00% jumped 4.1% after a separate Nikkei report said it was expected to double its group operating profit in the quarter ended June 30.

Meanwhile, Alumina Ltd. /zigman2/quotes/210515632/delayed AU:AWC +0.98%  climbed 3% in Sydney after Alcoa’s results.

Also supporting the Australian advance, Commonwealth Bank of Australia /zigman2/quotes/200638713/delayed AU:CBA +1.10%   /zigman2/quotes/207018701/composite CBAUF +1.10%  rose 1.7%, and BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP -0.79% /zigman2/quotes/208108397/composite BHP -0.60%  advanced 2.1%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,283.03
-100.06 -0.35%
Volume: 0.00
Nov. 25, 2022 3:15p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,259.50
+17.70 +0.24%
Volume: 552,057
Nov. 25, 2022 4:55p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,437.86
-3.47 -0.14%
Volume: 438,394
Nov. 25, 2022 3:30p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,101.69
+12.38 +0.40%
Volume: 31.14B
Nov. 25, 2022 3:00p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
17,573.58
-87.32 -0.49%
Volume: 3.18M
Nov. 25, 2022 4:08p
loading...
/zigman2/quotes/200686102/composite
US : U.S.: NYSE
$ 47.89
-0.62 -1.28%
Volume: 1.69M
Nov. 25, 2022 1:10p
P/E Ratio
N/A
Dividend Yield
0.84%
Market Cap
$8.47 billion
Rev. per Employee
$1.11M
loading...
/zigman2/quotes/210560947/realtime/sampled
US : Tullett Prebon
0.6751
-0.0001 -0.0148%
Volume: 0.0000
Nov. 25, 2022 4:59p
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
$ 51.85
+0.65 +1.27%
Volume: 27.06M
Nov. 25, 2022 4:08p
P/E Ratio
7.60
Dividend Yield
8.93%
Market Cap
$1060.85 billion
Rev. per Employee
$2.27M
loading...
/zigman2/quotes/202417326/delayed
HK : Hong Kong
$ 34.25
+0.70 +2.09%
Volume: 10.24M
Nov. 25, 2022 4:08p
P/E Ratio
6.76
Dividend Yield
4.94%
Market Cap
$244.23 billion
Rev. per Employee
$5.19M
loading...
/zigman2/quotes/201656413/composite
US : U.S.: OTC
$ 4.20
+0.31 +7.86%
Volume: 0.00
Nov. 15, 2022 10:17a
P/E Ratio
6.46
Dividend Yield
N/A
Market Cap
$30.86 billion
Rev. per Employee
$665,352
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 11.30
+0.83 +7.93%
Volume: 207.21M
Nov. 25, 2022 3:00p
P/E Ratio
5.41
Dividend Yield
5.58%
Market Cap
¥51.01 billion
Rev. per Employee
¥1.97M
loading...
/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 16.84
+0.91 +5.71%
Volume: 153.60M
Nov. 25, 2022 3:00p
P/E Ratio
7.49
Dividend Yield
3.44%
Market Cap
¥201.58 billion
Rev. per Employee
¥4.80M
loading...
/zigman2/quotes/206628792/delayed
JP : Japan: Tokyo
¥ 3,776.00
+21.00 +0.56%
Volume: 1.07M
Nov. 25, 2022 3:00p
P/E Ratio
11.67
Dividend Yield
1.38%
Market Cap
¥1789.59 billion
Rev. per Employee
¥71.57M
loading...
/zigman2/quotes/205763034/composite
US : U.S.: OTC
$ 26.46
+0.37 +1.42%
Volume: 0.00
Nov. 21, 2022 10:02a
P/E Ratio
10.26
Dividend Yield
N/A
Market Cap
$12.33 billion
Rev. per Employee
$577,849
loading...
/zigman2/quotes/202771076/delayed
JP : Japan: Tokyo
¥ 523.00
+23.00 +4.60%
Volume: 38.37M
Nov. 25, 2022 3:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
¥837.94 billion
Rev. per Employee
¥174.08M
loading...
/zigman2/quotes/205839055/composite
US : U.S.: OTC
$ 4.75
+1.48 +45.26%
Volume: 0.00
Nov. 23, 2022 3:54p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.49 billion
Rev. per Employee
$1.40M
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 79,890.00
-680.00 -0.84%
Volume: 428,500
Nov. 25, 2022 3:00p
P/E Ratio
29.91
Dividend Yield
0.85%
Market Cap
¥8161.58 billion
Rev. per Employee
¥39.97M
loading...
/zigman2/quotes/203924235/composite
US : U.S.: OTC
$ 57.65
-1.29 -2.19%
Volume: 5,308
Nov. 25, 2022 12:31p
P/E Ratio
25.75
Dividend Yield
0.59%
Market Cap
$58.61 billion
Rev. per Employee
$328,184
loading...
/zigman2/quotes/204923990/delayed
JP : Japan: Tokyo
¥ 4,106.00
+4.00 +0.10%
Volume: 3.51M
Nov. 25, 2022 3:00p
P/E Ratio
13.69
Dividend Yield
3.29%
Market Cap
¥8976.93 billion
Rev. per Employee
¥113.92M
loading...
/zigman2/quotes/205540401/composite
US : U.S.: OTC
$ 14.74
-0.05 -0.34%
Volume: 185,150
Nov. 25, 2022 12:58p
P/E Ratio
12.20
Dividend Yield
2.44%
Market Cap
$64.47 billion
Rev. per Employee
$921,233
loading...
/zigman2/quotes/208507587/delayed
JP : Japan: Tokyo
¥ 2,492.50
+8.00 +0.32%
Volume: 3.17M
Nov. 25, 2022 3:00p
P/E Ratio
7.67
Dividend Yield
3.45%
Market Cap
¥2553.92 billion
Rev. per Employee
¥116.71M
loading...
/zigman2/quotes/200865545/composite
US : U.S.: OTC
$ 16.71
+0.02 +0.12%
Volume: 0.00
Oct. 6, 2022 2:31p
P/E Ratio
6.17
Dividend Yield
N/A
Market Cap
$16.80 billion
Rev. per Employee
$944,208
loading...
/zigman2/quotes/210254144/delayed
JP : Japan: Tokyo
¥ 2,944.00
+33.50 +1.15%
Volume: 7.28M
Nov. 25, 2022 3:00p
P/E Ratio
25.25
Dividend Yield
3.40%
Market Cap
¥5969.70 billion
Rev. per Employee
¥141.16M
loading...
/zigman2/quotes/208992593/composite
US : U.S.: OTC
$ 21.16
+0.78 +3.83%
Volume: 40,897
Nov. 25, 2022 12:46p
P/E Ratio
38.31
Dividend Yield
5.47%
Market Cap
$42.87 billion
Rev. per Employee
$1.13M
loading...
/zigman2/quotes/209422954/delayed
JP : Japan: Tokyo
¥ 634.00
+2.00 +0.32%
Volume: 861,800
Nov. 25, 2022 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥363.93 billion
Rev. per Employee
¥43.71M
loading...
/zigman2/quotes/207652388/composite
US : U.S.: OTC
$ 40.75
0.00 0.00%
Volume: 0.00
Oct. 14, 2022 12:13p
P/E Ratio
N/A
Dividend Yield
1.70%
Market Cap
$2.43 billion
Rev. per Employee
$353,640
loading...
/zigman2/quotes/210515632/delayed
AU : Australia: Sydney
$ 1.55
+0.02 +0.98%
Volume: 3.32M
Nov. 25, 2022 4:11p
P/E Ratio
11.54
Dividend Yield
6.46%
Market Cap
$4.50 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 109.20
+1.19 +1.10%
Volume: 2.16M
Nov. 25, 2022 4:11p
P/E Ratio
18.40
Dividend Yield
3.53%
Market Cap
$184.50 billion
Rev. per Employee
$592,974
loading...
/zigman2/quotes/207018701/composite
US : U.S.: OTC
$ 71.23
+0.78 +1.10%
Volume: 0.00
Nov. 22, 2022 9:41a
P/E Ratio
16.54
Dividend Yield
N/A
Market Cap
$122.73 billion
Rev. per Employee
$430,019
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 44.20
-0.35 -0.79%
Volume: 5.60M
Nov. 25, 2022 4:11p
P/E Ratio
7.14
Dividend Yield
10.48%
Market Cap
$223.87 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 59.68
-0.36 -0.60%
Volume: 1.28M
Nov. 25, 2022 1:10p
P/E Ratio
6.62
Dividend Yield
10.87%
Market Cap
$151.08 billion
Rev. per Employee
N/A
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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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