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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 -0.79%  jumped 2.6% for its highest finish in six weeks, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -2.31% gained 1.5% and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.28% 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 -0.83%  inched up 0.4% after changing direction a few times, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.73% 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 -5.60%  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 2,987.93, -25.12, -0.83%
/zigman2/quotes/210598030/delayed HSI 26,696.49, -196.74, -0.73%
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 -0.5300% — 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 -2.32% /zigman2/quotes/204514293/composite CHL -1.32%  rose 0.6%, and China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 -0.29% /zigman2/quotes/201656413/delayed CRBJF 0.00%  gained 1.2% to recover some recent losses.

Property developers declined in Shanghai, meanwhile, with Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 +6.25%  losing 4.4%, and Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 +4.78%  falling 2.8%.

Gains were spread across several sectors in Tokyo. Shares of Sumitomo Realty & Development Co. /zigman2/quotes/206628792/delayed JP:8830 -2.75% /zigman2/quotes/205763034/delayed SURDF +2.27% climbed 4.7%, utility Tokyo Electric Power Co. /zigman2/quotes/202771076/delayed JP:9501 +0.23% /zigman2/quotes/205839055/delayed TKECY +1.24% rose 6.4%, apparel retailer Fast Retailing Co. /zigman2/quotes/200663563/delayed JP:9983 -0.16% /zigman2/quotes/203924235/delayed FRCOY -1.95%  added 4.5% and telecommunications firm KDDI Corp. /zigman2/quotes/204923990/delayed JP:9433 -2.39%   /zigman2/quotes/205540401/delayed KDDIY +1.00% gained 4.1%.

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Dai-ichi Life Insurance Co. /zigman2/quotes/208507587/delayed JP:8750 -1.13%   /zigman2/quotes/200865545/delayed DCNSF +5.67% advanced 2% and Tokio Marine Holdings Inc. /zigman2/quotes/210254144/delayed JP:8766 -0.03% /zigman2/quotes/208992593/delayed TKOMY -0.46% 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 -1.85% /zigman2/quotes/207652388/delayed HINOY +0.93% 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 -4.69%  climbed 3% in Sydney after Alcoa’s results.

Also supporting the Australian advance, Commonwealth Bank of Australia /zigman2/quotes/200638713/delayed AU:CBA -1.67%   /zigman2/quotes/207018701/delayed CBAUF +0.35%  rose 1.7%, and BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP -2.15% /zigman2/quotes/208108397/composite BHP -2.28%  advanced 2.1%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,426.19
-179.22 -0.79%
Volume: 0.00
Feb. 26, 2020 3:15p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,708.10
-158.50 -2.31%
Volume: 1.01M
Feb. 26, 2020 5:38p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,076.77
-26.84 -1.28%
Volume: 810,937
Feb. 26, 2020 3:32p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,987.93
-25.12 -0.83%
Volume: 46.90B
Feb. 26, 2020 3:01p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,696.49
-196.74 -0.73%
Volume: 2.04M
Feb. 26, 2020 4:08p
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/zigman2/quotes/200686102/composite
US : U.S.: NYSE
$ 14.50
-0.86 -5.60%
Volume: 6.28M
Feb. 25, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.69 billion
Rev. per Employee
$965,500
loading...
/zigman2/quotes/210560947/realtime/sampled
US : Tullett Prebon
0.6569
-0.0035 -0.5300%
Volume: 0.0000
Feb. 26, 2020 6:14a
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/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 63.10
-1.50 -2.32%
Volume: 23.67M
Feb. 26, 2020 4:08p
P/E Ratio
10.39
Dividend Yield
4.62%
Market Cap
HK$1322.72 billion
Rev. per Employee
HK$1.88M
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/zigman2/quotes/204514293/composite
US : U.S.: NYSE
$ 41.01
-0.55 -1.32%
Volume: 1.30M
Feb. 25, 2020 6:30p
P/E Ratio
10.59
Dividend Yield
4.09%
Market Cap
$167.94 billion
Rev. per Employee
$239,645
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/zigman2/quotes/202417326/delayed
HK : Hong Kong
HK$ 34.75
-0.10 -0.29%
Volume: 15.30M
Feb. 26, 2020 4:08p
P/E Ratio
7.46
Dividend Yield
3.61%
Market Cap
HK$248.51 billion
Rev. per Employee
HK$3.68M
loading...
/zigman2/quotes/201656413/delayed
US : U.S.: OTC
$ 4.41
0.00 0.00%
Volume: 400.00
Feb. 24, 2020 1:12p
P/E Ratio
7.42
Dividend Yield
N/A
Market Cap
$31.45 billion
Rev. per Employee
$470,019
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 14.46
+0.85 +6.25%
Volume: 80.90M
Feb. 26, 2020 3:00p
P/E Ratio
7.89
Dividend Yield
4.15%
Market Cap
¥61.44 billion
Rev. per Employee
¥7.89M
loading...
/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 15.99
+0.73 +4.78%
Volume: 214.16M
Feb. 26, 2020 3:00p
P/E Ratio
8.59
Dividend Yield
3.13%
Market Cap
¥182.09 billion
Rev. per Employee
¥3.42M
loading...
/zigman2/quotes/206628792/delayed
JP : Japan: Tokyo
¥ 3,708.00
-105.00 -2.75%
Volume: 2.56M
Feb. 26, 2020 3:00p
P/E Ratio
12.14
Dividend Yield
0.94%
Market Cap
¥1807.13 billion
Rev. per Employee
¥77.54M
loading...
/zigman2/quotes/205763034/delayed
US : U.S.: OTC
$ 37.45
+0.83 +2.27%
Volume: 3.00
Feb. 24, 2020 5:20p
P/E Ratio
13.38
Dividend Yield
N/A
Market Cap
$16.08 billion
Rev. per Employee
$703,254
loading...
/zigman2/quotes/202771076/delayed
JP : Japan: Tokyo
¥ 429.00
+1.00 +0.23%
Volume: 8.46M
Feb. 26, 2020 3:00p
P/E Ratio
3.74
Dividend Yield
N/A
Market Cap
¥685.75 billion
Rev. per Employee
¥149.25M
loading...
/zigman2/quotes/205839055/delayed
US : U.S.: OTC
$ 4.08
+0.05 +1.24%
Volume: 8.00
Feb. 25, 2020 5:20p
P/E Ratio
3.89
Dividend Yield
N/A
Market Cap
$6.23 billion
Rev. per Employee
$1.35M
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 56,330.00
-90.00 -0.16%
Volume: 968,500
Feb. 26, 2020 3:00p
P/E Ratio
35.99
Dividend Yield
0.89%
Market Cap
¥5758.81 billion
Rev. per Employee
¥40.83M
loading...
/zigman2/quotes/203924235/delayed
US : U.S.: OTC
$ 50.16
-1.00 -1.95%
Volume: 29,023
Feb. 25, 2020 3:47p
P/E Ratio
35.14
Dividend Yield
0.70%
Market Cap
$52.29 billion
Rev. per Employee
$369,206
loading...
/zigman2/quotes/204923990/delayed
JP : Japan: Tokyo
¥ 3,313.00
-81.00 -2.39%
Volume: 9.00M
Feb. 26, 2020 3:00p
P/E Ratio
12.02
Dividend Yield
3.47%
Market Cap
¥7805.88 billion
Rev. per Employee
¥130.16M
loading...
/zigman2/quotes/205540401/delayed
US : U.S.: OTC
$ 15.20
+0.15 +1.00%
Volume: 93,130
Feb. 25, 2020 3:59p
P/E Ratio
12.01
Dividend Yield
2.38%
Market Cap
$70.87 billion
Rev. per Employee
$1.18M
loading...
/zigman2/quotes/208507587/delayed
JP : Japan: Tokyo
¥ 1,575.50
-18.00 -1.13%
Volume: 4.01M
Feb. 26, 2020 3:00p
P/E Ratio
8.94
Dividend Yield
3.94%
Market Cap
¥1804.18 billion
Rev. per Employee
¥103.65M
loading...
/zigman2/quotes/200865545/delayed
US : U.S.: OTC
$ 16.40
+0.88 +5.67%
Volume: 30,996
Feb. 25, 2020 8:10p
P/E Ratio
10.17
Dividend Yield
N/A
Market Cap
$18.68 billion
Rev. per Employee
$938,831
loading...
/zigman2/quotes/210254144/delayed
JP : Japan: Tokyo
¥ 6,119.00
-2.00 -0.03%
Volume: 2.26M
Feb. 26, 2020 3:00p
P/E Ratio
15.44
Dividend Yield
3.68%
Market Cap
¥4291.74 billion
Rev. per Employee
¥134.28M
loading...
/zigman2/quotes/208992593/delayed
US : U.S.: OTC
$ 54.31
-0.25 -0.46%
Volume: 24,042
Feb. 25, 2020 3:51p
P/E Ratio
14.99
Dividend Yield
3.09%
Market Cap
$38.97 billion
Rev. per Employee
$1.22M
loading...
/zigman2/quotes/209422954/delayed
JP : Japan: Tokyo
¥ 956.00
-18.00 -1.85%
Volume: 2.31M
Feb. 26, 2020 3:00p
P/E Ratio
11.69
Dividend Yield
2.72%
Market Cap
¥559.11 billion
Rev. per Employee
¥60.20M
loading...
/zigman2/quotes/207652388/delayed
US : U.S.: OTC
$ 105.63
+0.97 +0.93%
Volume: 2.00
Feb. 25, 2020 5:20p
P/E Ratio
14.08
Dividend Yield
1.98%
Market Cap
$5.08 billion
Rev. per Employee
$545,250
loading...
/zigman2/quotes/210515632/delayed
AU : Australia: Sydney
$ 2.03
-0.10 -4.69%
Volume: 20.07M
Feb. 26, 2020 4:10p
P/E Ratio
19.28
Dividend Yield
12.87%
Market Cap
$6.13 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 85.35
-1.45 -1.67%
Volume: 3.36M
Feb. 26, 2020 4:10p
P/E Ratio
15.72
Dividend Yield
5.05%
Market Cap
$153.59 billion
Rev. per Employee
$919,022
loading...
/zigman2/quotes/207018701/delayed
US : U.S.: OTC
$ 56.78
+0.20 +0.35%
Volume: 200.00
Feb. 25, 2020 10:48a
P/E Ratio
15.09
Dividend Yield
N/A
Market Cap
$100.47 billion
Rev. per Employee
$687,071
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 35.55
-0.78 -2.15%
Volume: 7.73M
Feb. 26, 2020 4:10p
P/E Ratio
13.30
Dividend Yield
6.10%
Market Cap
$183.71 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 46.78
-1.09 -2.28%
Volume: 2.00M
Feb. 25, 2020 6:30p
P/E Ratio
12.58
Dividend Yield
6.11%
Market Cap
$68.88 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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