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May 19, 2015, 5:51 a.m. EDT

China stocks jump the most in four months on reform plan

Japan stocks close above 20,000 for first time in three weeks

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By Laura He, MarketWatch


Bloomberg
Shanghai stocks jump on Tuesday, with other Asian markets mostly gaining.

HONG KONG (MarketWatch) — Chinese stocks posted their biggest advance in nearly four months on Tuesday, after the government unveiled guidelines to reform its economic system in 2015, which includes further opening up capital markets.

The mainland China’s benchmark Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -4.50%  rose 3.1% to 4,417.55, its highest settlement in two weeks. The index also marked its biggest daily percentage gain since late January.

The State Council, China’s cabinet, said in a guideline published on Monday that the country needs deepen the economic system reform in 2015 by further opening up the financial sector to both foreign and domestic investors, expanding capital markets, and intensifying the reform of state-owned enterprises, according to the Chinese government’s official website.

Financial shares rallied across the board, with brokers rising sharply. Huatai Securities Co. Ltd. /zigman2/quotes/208233190/delayed CN:601688 -5.50%  , one of China’s largest brokerage firms soared limit-up by 10%, after it kicked off its Hong Kong initial public offering on Monday, aiming to raise up to $4.5 billion. Orient Securities Co. Ltd. /zigman2/quotes/207820122/delayed CN:600958 -4.97%  and Dongxing Securities Co., Ltd. /zigman2/quotes/203344141/delayed CN:601198 -3.86%  also surged 10%. Haitong Securities /zigman2/quotes/203443667/delayed CN:600837 -6.59%  and Citic Securities Co. Ltd. /zigman2/quotes/210326178/delayed CN:600030 -8.38%  gained 7.5% and 6.6% respectively.

Banks also recorded a solid advance, with China Merchants Bank Co., Ltd. /zigman2/quotes/209899244/delayed HK:3968 -0.66%   /zigman2/quotes/210188047/delayed CN:600036 -0.73%  spiking 4.6%, and Bank of China Ltd /zigman2/quotes/204682472/delayed HK:3988 -0.36%   /zigman2/quotes/209359942/delayed CN:601988 -0.87% , China Citic Bank Corporation Ltd. /zigman2/quotes/205809997/delayed HK:998 0.00% /zigman2/quotes/206411273/delayed CN:601998 -1.30% , China Construction Bank Corporation /zigman2/quotes/208974133/delayed HK:939 -0.81%   /zigman2/quotes/208058581/delayed CN:601939 -0.16% and China Minsheng Banking Corp., Ltd.   /zigman2/quotes/208095167/delayed HK:1988 -1.39%   /zigman2/quotes/203910009/delayed CN:600016 -0.53% all rallying 3%.

Railway stocks jumped, after China’s top economic planning agency said Monday it gave the green light to six rail and subway projects, with a total investment of close to 250 billion yuan ($40 billion), to spur economic growth. China Communication Construction Co. Ltd. /zigman2/quotes/210502682/delayed CN:601800 -2.20%  surged 10%, China Railway Construction Corporation Ltd. /zigman2/quotes/202453937/delayed CN:601186 -1.64%   jumped 3.5% and China Railway Group Ltd. /zigman2/quotes/200210795/delayed CN:601390 -1.25%  climbed 2.6%.

Click to Play

WSJ Market Wrap: May 18, 2015

U.S. stocks pushed higher Monday, erasing early losses, with both the Dow industrials and the S&P 500 on track for new all-time highs. Ann Inc. to sell itself to Ascena Retail Group for $2.2 billion in cash and stock.

In Hong Kong, the benchmark Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.00%  also rose 0.4%, with the mainland-China-tracking Hang Seng China Enterprises /zigman2/quotes/210598031/delayed CN:160462 -2.47%   popping 1.9% higher.

In other Asian markets, Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -0.76%  also advanced 0.7% to 20,026.38, back above 20,000 for the first time in three weeks. The index had risen for a third day in a row. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 -0.66%   added 0.4%.

Then yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.3282%  weakened a little against the greenback, with the dollar buying ¥120.04, compared to ¥119.67 at the previous Tokyo stock close.

Elsewhere, Seoul’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 -0.82%  tacked on 0.3%, while Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.69%  fell 0.8%.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,210.10
-151.21 -4.50%
Volume: 49.06B
July 16, 2020 3:01p
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/zigman2/quotes/208233190/delayed
CN : China: Shanghai
¥ 21.46
-1.25 -5.50%
Volume: 155.32M
July 16, 2020 3:00p
P/E Ratio
21.23
Dividend Yield
1.40%
Market Cap
¥192.89 billion
Rev. per Employee
¥2.39M
loading...
/zigman2/quotes/207820122/delayed
CN : China: Shanghai
¥ 12.04
-0.63 -4.97%
Volume: 145.66M
July 16, 2020 3:00p
P/E Ratio
42.56
Dividend Yield
1.25%
Market Cap
¥80.74 billion
Rev. per Employee
¥2.28M
loading...
/zigman2/quotes/203344141/delayed
CN : China: Shanghai
¥ 13.70
-0.55 -3.86%
Volume: 63.47M
July 16, 2020 3:00p
P/E Ratio
38.73
Dividend Yield
1.02%
Market Cap
¥39.30 billion
Rev. per Employee
¥1.05M
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/zigman2/quotes/203443667/delayed
CN : China: Shanghai
¥ 14.60
-1.03 -6.59%
Volume: 223.55M
July 16, 2020 3:00p
P/E Ratio
20.90
Dividend Yield
0.00%
Market Cap
¥150.61 billion
Rev. per Employee
¥2.67M
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/zigman2/quotes/210326178/delayed
CN : China: Shanghai
¥ 29.32
-2.68 -8.38%
Volume: 530.57M
July 16, 2020 3:00p
P/E Ratio
29.99
Dividend Yield
1.71%
Market Cap
¥379.65 billion
Rev. per Employee
¥2.96M
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/zigman2/quotes/209899244/delayed
HK : Hong Kong
HK$ 37.90
-0.25 -0.66%
Volume: 14.37M
July 16, 2020 4:08p
P/E Ratio
8.92
Dividend Yield
3.46%
Market Cap
HK$995.72 billion
Rev. per Employee
HK$3.67M
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/zigman2/quotes/210188047/delayed
CN : China: Shanghai
¥ 35.60
-0.26 -0.73%
Volume: 142.95M
July 16, 2020 3:00p
P/E Ratio
9.67
Dividend Yield
3.37%
Market Cap
¥897.65 billion
Rev. per Employee
¥3.10M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 2.76
-0.01 -0.36%
Volume: 251.20M
July 16, 2020 4:08p
P/E Ratio
3.82
Dividend Yield
7.58%
Market Cap
HK$1033.47 billion
Rev. per Employee
HK$3.13M
loading...
/zigman2/quotes/209359942/delayed
CN : China: Shanghai
¥ 3.40
-0.03 -0.87%
Volume: 174.47M
July 16, 2020 3:00p
P/E Ratio
5.30
Dividend Yield
5.62%
Market Cap
¥931.68 billion
Rev. per Employee
¥2.61M
loading...
/zigman2/quotes/205809997/delayed
HK : Hong Kong
HK$ 3.55
0.00 0.00%
Volume: 38.57M
July 16, 2020 4:08p
P/E Ratio
3.51
Dividend Yield
7.35%
Market Cap
HK$255.67 billion
Rev. per Employee
HK$6.26M
loading...
/zigman2/quotes/206411273/delayed
CN : China: Shanghai
¥ 5.30
-0.07 -1.30%
Volume: 44.83M
July 16, 2020 3:00p
P/E Ratio
5.96
Dividend Yield
4.51%
Market Cap
¥230.49 billion
Rev. per Employee
¥5.22M
loading...
/zigman2/quotes/208974133/delayed
HK : Hong Kong
HK$ 6.12
-0.05 -0.81%
Volume: 215.85M
July 16, 2020 4:08p
P/E Ratio
5.03
Dividend Yield
5.71%
Market Cap
HK$1550.53 billion
Rev. per Employee
HK$3.31M
loading...
/zigman2/quotes/208058581/delayed
CN : China: Shanghai
¥ 6.30
-0.01 -0.16%
Volume: 158.94M
July 16, 2020 3:00p
P/E Ratio
5.82
Dividend Yield
5.08%
Market Cap
¥1397.80 billion
Rev. per Employee
¥2.76M
loading...
/zigman2/quotes/208095167/delayed
HK : Hong Kong
HK$ 4.96
-0.07 -1.39%
Volume: 40.51M
July 16, 2020 4:08p
P/E Ratio
3.54
Dividend Yield
8.17%
Market Cap
HK$264.10 billion
Rev. per Employee
HK$6.25M
loading...
/zigman2/quotes/203910009/delayed
CN : China: Shanghai
¥ 5.62
-0.03 -0.53%
Volume: 200.57M
July 16, 2020 3:00p
P/E Ratio
4.50
Dividend Yield
6.58%
Market Cap
¥238.09 billion
Rev. per Employee
¥5.19M
loading...
/zigman2/quotes/210502682/delayed
CN : China: Shanghai
¥ 8.02
-0.18 -2.20%
Volume: 87.94M
July 16, 2020 3:00p
P/E Ratio
7.12
Dividend Yield
2.90%
Market Cap
¥114.97 billion
Rev. per Employee
¥4.30M
loading...
/zigman2/quotes/202453937/delayed
CN : China: Shanghai
¥ 8.99
-0.15 -1.64%
Volume: 90.37M
July 16, 2020 3:00p
P/E Ratio
6.76
Dividend Yield
2.34%
Market Cap
¥117.81 billion
Rev. per Employee
¥2.70M
loading...
/zigman2/quotes/200210795/delayed
CN : China: Shanghai
¥ 5.54
-0.07 -1.25%
Volume: 103.87M
July 16, 2020 3:00p
P/E Ratio
5.62
Dividend Yield
3.05%
Market Cap
¥130.59 billion
Rev. per Employee
¥2.51M
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,970.69
-510.89 -2.00%
Volume: 1.94M
July 16, 2020 4:08p
loading...
/zigman2/quotes/210598031/delayed
CN : Hong Kong Exchange
10,133.92
-256.62 -2.47%
Volume: 0.00
July 16, 2020 4:08p
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/zigman2/quotes/210597971/delayed
JP : Nikkei
22,770.36
-175.14 -0.76%
Volume: 0.00
July 16, 2020 3:15p
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/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,579.06
-10.45 -0.66%
Volume: 0.00
July 16, 2020 3:00p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.2880
+0.3510 +0.3282%
Volume: 0.0000
July 16, 2020 1:41p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,183.76
-18.12 -0.82%
Volume: 784,637
July 16, 2020 3:33p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,010.90
-42.00 -0.69%
Volume: 676,693
July 16, 2020 5:20p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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