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Jan. 5, 2015, 4:09 a.m. EST

Shanghai stocks rally to close at five-year high

Stocks gain in Sydney, while Japan and Hong Kong markets fall

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By Laura He, MarketWatch


Reuters Enlarge Image
Shanghai stocks rallied on Monday, while other major Asian markets mostly fell.

HONG KONG (MarketWatch) — Mainland Chinese stocks rallied to their highest close in more than five years on Monday, the first trading day of the new year, led by strength in the energy and real-estate sectors.

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.31%  popped up 3.6% to end at 3,350.52, marking its biggest daily percentage gain in a month. In the previous trading session last week, the index also finished higher, ending 2014 as the world’s top-performing major equity market with an annual gain of 52%.

Coal-related shares soared after several provincial governments adjusted their resource-tax rates as part of a nationwide reforms of coal tax, aimed at reducing the burden on coal enterprises. Wintime Energy Co., Ltd. /zigman2/quotes/202922213/delayed CN:600157 +2.78% , Shaanxi Coal Industry Co., Ltd. /zigman2/quotes/208667772/delayed CN:601225 -0.74%   and Yang Quan Coal Industry (Group) Co., Ltd. /zigman2/quotes/203773849/delayed CN:600348 0.00%   all rose by the 10% daily limit.

Property shares also saw strong gains, as the Beijing government increased the cap on housing loans. Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 -1.98%   leapt 10%, Metro Land Corp. Ltd. /zigman2/quotes/208072728/delayed CN:600683 -2.39%  climbed 5.5% and Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 -2.07%   advanced 3.4%.

In other Asian markets, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.33%  notched a modest gain of 0.3%, with Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -0.46%   rising 0.3%, after the Australian Financial Review reported the mining company will announce a $4 billion share-buyback program next month.

However, Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -0.39%  slipped 0.2%, with the broader Topix /zigman2/quotes/210598092/delayed JP:180460 -0.03%  down 0.5%. The yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.4906%  strengthened against the dollar to ¥120.33, from ¥120.48 in the prior session.

Elsewhere, both Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.09%  and South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 -1.49%   fell 0.6%.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,039.67
+9.52 +0.31%
Volume: 36.46B
Feb. 21, 2020 3:01p
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/zigman2/quotes/202922213/delayed
CN : China: Shanghai
¥ 1.48
+0.04 +2.78%
Volume: 234.00M
Feb. 21, 2020 3:00p
P/E Ratio
111.28
Dividend Yield
N/A
Market Cap
¥17.89 billion
Rev. per Employee
¥2.57M
loading...
/zigman2/quotes/208667772/delayed
CN : China: Shanghai
¥ 8.08
-0.06 -0.74%
Volume: 18.92M
Feb. 21, 2020 3:00p
P/E Ratio
7.01
Dividend Yield
4.08%
Market Cap
¥78.92 billion
Rev. per Employee
¥1.78M
loading...
/zigman2/quotes/203773849/delayed
CN : China: Shanghai
¥ 4.97
0.00 0.00%
Volume: 17.62M
Feb. 21, 2020 3:00p
P/E Ratio
5.52
Dividend Yield
5.63%
Market Cap
¥11.95 billion
Rev. per Employee
¥896,428
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/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 15.33
-0.31 -1.98%
Volume: 84.40M
Feb. 21, 2020 3:00p
P/E Ratio
8.24
Dividend Yield
3.26%
Market Cap
¥186.63 billion
Rev. per Employee
¥3.42M
loading...
/zigman2/quotes/208072728/delayed
CN : China: Shanghai
¥ 4.08
-0.10 -2.39%
Volume: 7.90M
Feb. 21, 2020 3:00p
P/E Ratio
11.98
Dividend Yield
4.90%
Market Cap
¥3.10 billion
Rev. per Employee
¥9.33M
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 13.70
-0.29 -2.07%
Volume: 26.80M
Feb. 21, 2020 3:00p
P/E Ratio
7.47
Dividend Yield
4.38%
Market Cap
¥63.16 billion
Rev. per Employee
¥7.89M
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,139.00
-23.50 -0.33%
Volume: 1.07M
Feb. 21, 2020 5:17p
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/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 97.69
-0.45 -0.46%
Volume: 914,264
Feb. 21, 2020 4:10p
P/E Ratio
8.90
Dividend Yield
9.18%
Market Cap
$159.35 billion
Rev. per Employee
$1.14M
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/zigman2/quotes/210597971/delayed
JP : Nikkei
23,386.74
-92.41 -0.39%
Volume: 0.00
Feb. 21, 2020 3:15p
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/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,674.00
-0.48 -0.03%
Volume: 0.00
Feb. 21, 2020 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
111.5550
-0.5500 -0.4906%
Volume: 0.0000
Feb. 21, 2020 4:59p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,308.81
-300.35 -1.09%
Volume: 1.77M
Feb. 21, 2020 4:08p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,162.84
-32.66 -1.49%
Volume: 635,474
Feb. 21, 2020 3:33p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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