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April 19, 2013, 4:28 a.m. EDT

Shanghai, Hong Kong pace stock gains in Asia

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Most Asian markets rose Friday as bargain buyers accumulated beaten-down stocks ahead of the weekend, taking a positive view on the rebound in commodity prices despite another day of losses on Wall Street.

The Shanghai Composite /zigman2/quotes/206600939/delayed CN:000001 +2.30% rallied 2.1% to extend weekly gains, and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.17% jumped 2.3% to snap a a five-day losing streak.

The Taiex  rose 1.8% in Taipei, where heavyweight Taiwan Semiconductor Manufacturing Co. got a boost from upbeat forecasts.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +0.34%  climbed 0.7%, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.67%  added 0.4% and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.25%  gained 0.2%.


Reuters

The advance came as investors looked past another day of losses on Wall Street overnight, with U.S. equity index futures pointing to gains on Friday.

Dow Jones Industrial Average futures  rose 78 points, or 0.5%, to 14,488, while S&P 500 futures and Nasdaq 100 futures advanced 0.6% each in the wake of post-earnings gains for shares of Microsoft Corp. /zigman2/quotes/207732364/composite MSFT +0.30%  and Google Inc. /zigman2/quotes/205453964/composite GOOG +0.46% in U.S. after-hours trade.

“If selling on the broader indices does not accelerate lower from current levels ... we can expect higher levels into next week. Any modest decline in U.S. equity markets will likely be used as a buying opportunity while the Federal Reserve continues to support the market with liquidity,” said Rivkin Securities analyst Tim Radford.

The day’s rally helped most regional indexes pare losses suffered earlier in the week, which began with a disappointing set of economic indicators from China, and a steep fall in gold prices.

The Shanghai Composite rose 1.7% this week, followed by a 1.4% gain for the Taiex. On the downside, the Hang Seng Index slipped 0.3%, the Kospi lost 0.9% and the S&P/ASX 200 shed 1.6%, while Japan’s Nikkei shed 1.3%, snapping a three-week rally.

Stock movers

Mainland Chinese shares clinched gains across most sectors and were on track for a weekly advance, signaling the market had overcome the hit to sentiment from a disappointing set of data reported on Monday, including first-quarter economic growth.

Brokerage firms and commodity shares led the advance, with Haitong Securities Co. /zigman2/quotes/203443667/delayed CN:600837 +5.01%  rising 4.4%, Citic Securities Co. /zigman2/quotes/210326178/delayed CN:600030 +5.92% /zigman2/quotes/207216844/delayed CIIHF -8.45%  gaining 5.5%, and Jiangxi Copper Co. /zigman2/quotes/201334192/delayed CN:600362 +1.29%   /zigman2/quotes/204256025/delayed JIXAY -2.94%  adding 2.5%.

In Shenzhen, shares of Yunnan Tin Co. /zigman2/quotes/206380252/delayed CN:000960 +0.79%  climbed 3.7%, and Changjiang Securities Co. /zigman2/quotes/206947567/delayed CN:000783 +5.67%  advanced 3.4%.

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The Hong Kong-listed shares of Haitong Securities /zigman2/quotes/207313420/delayed HK:6837 +4.70% rose 5.1%, Citic Securities /zigman2/quotes/208139708/delayed HK:6030 +3.07% /zigman2/quotes/210326178/delayed CN:600030 +5.92% soared 7%, and Jiangxi Copper /zigman2/quotes/201668148/delayed HK:358 0.00% /zigman2/quotes/201334192/delayed CN:600362 +1.29% added 3.2%.

Shares of Lenovo Group Ltd. /zigman2/quotes/205368244/delayed HK:992 +7.01%   /zigman2/quotes/204000062/delayed LNVGY +0.76%  surged 9.5% following reports that the Hong Kong-listed computer maker was in talks to buy International Business Machines Corp.’s /zigman2/quotes/203856914/composite IBM -0.16% servers business.

Shares of TSMC /zigman2/quotes/207385621/delayed TW:2330 -0.31%   /zigman2/quotes/204359850/composite TSM +2.60%  jumped 6.6% in Taipei trading after the company issued an upbeat guidance for the second quarter and raised its capital expenditure plan for this year.

The resource sector was buoyed after a generally higher finish for commodities overnight, providing some relief to stocks that had been beaten down earlier in the week.

In Sydney, mining giants BHP Billiton Ltd. /zigman2/quotes/208108397/composite BHP -0.25% /zigman2/quotes/201448516/delayed AU:BHP +0.05% and Rio Tinto Ltd. /zigman2/quotes/202627887/composite RIO -0.15%   /zigman2/quotes/200083756/delayed AU:RIO +0.05% climbed 2.5% and 4.3%, respectively.

Korea Zinc Co. /zigman2/quotes/202765860/delayed KR:010130 -2.82% rallied 6.4% in Seoul, and Pacific Metals Co. /zigman2/quotes/203626509/delayed PFMTF 0.00%   /zigman2/quotes/209253802/delayed JP:5541 0.00%  rose 1.1% in Tokyo.

Shares of Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 +0.95%   /zigman2/quotes/200401218/delayed SHCAY -1.05%  rose 4.2% after the Nikkei business daily reported the company will supply Samsung Electronics Co. /zigman2/quotes/202367843/delayed SSNLF 0.00%   /zigman2/quotes/209800866/delayed KR:005930 -0.33%  with energy-saving liquid-crystal-display or LCD panels for notebook computers.

Samsung shares fell 0.5% in Seoul.

/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.59
+0.35 +2.30%
Volume: 123.54M
Feb. 20, 2020 3:00p
P/E Ratio
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1.40%
Market Cap
¥295.75 billion
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¥6.12M
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HK : Hong Kong Exchange
27,609.16
-46.65 -0.17%
Volume: 1.58M
Feb. 20, 2020 4:08p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
23,479.15
+78.45 +0.34%
Volume: 0.00
Feb. 20, 2020 3:15p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,195.50
-14.84 -0.67%
Volume: 709,563
Feb. 20, 2020 3:30p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,162.50
+17.90 +0.25%
Volume: 797,553
Feb. 20, 2020 5:23p
loading...
/zigman2/quotes/207732364/composite
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1.09%
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$1424.46 billion
Rev. per Employee
$902,473
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/zigman2/quotes/205453964/composite
US : U.S.: Nasdaq
$ 1,526.69
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N/A
Market Cap
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/zigman2/quotes/203443667/delayed
CN : China: Shanghai
¥ 15.52
+0.74 +5.01%
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Market Cap
¥170.00 billion
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¥2.67M
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/zigman2/quotes/210326178/delayed
CN : China: Shanghai
¥ 25.42
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Market Cap
¥310.24 billion
Rev. per Employee
¥2.96M
loading...
/zigman2/quotes/207216844/delayed
US : U.S.: OTC
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N/A
Market Cap
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$448,078
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/zigman2/quotes/201334192/delayed
CN : China: Shanghai
¥ 14.89
+0.19 +1.29%
Volume: 42.49M
Feb. 20, 2020 3:00p
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20.89
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1.34%
Market Cap
¥50.90 billion
Rev. per Employee
¥10.12M
loading...
/zigman2/quotes/204256025/delayed
US : U.S.: OTC
$ 51.90
-1.57 -2.94%
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Feb. 12, 2020 5:20p
P/E Ratio
33.52
Dividend Yield
1.97%
Market Cap
$17.26 billion
Rev. per Employee
$1.55M
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/zigman2/quotes/206380252/delayed
CN : China: Shenzhen
¥ 10.25
+0.08 +0.79%
Volume: 17.60M
Feb. 20, 2020 3:00p
P/E Ratio
23.15
Dividend Yield
N/A
Market Cap
¥16.80 billion
Rev. per Employee
¥2.59M
loading...
/zigman2/quotes/206947567/delayed
CN : China: Shenzhen
¥ 7.08
+0.38 +5.67%
Volume: 112.34M
Feb. 20, 2020 3:00p
P/E Ratio
37.96
Dividend Yield
0.28%
Market Cap
¥37.05 billion
Rev. per Employee
¥779,038
loading...
/zigman2/quotes/207313420/delayed
HK : Hong Kong
HK$ 9.14
+0.41 +4.70%
Volume: 38.59M
Feb. 20, 2020 4:08p
P/E Ratio
10.19
Dividend Yield
1.86%
Market Cap
HK$100.41 billion
Rev. per Employee
HK$3.20M
loading...
/zigman2/quotes/208139708/delayed
HK : Hong Kong
HK$ 18.12
+0.54 +3.07%
Volume: 40.40M
Feb. 20, 2020 4:08p
P/E Ratio
18.58
Dividend Yield
2.20%
Market Cap
HK$213.02 billion
Rev. per Employee
HK$3.51M
loading...
/zigman2/quotes/210326178/delayed
CN : China: Shanghai
¥ 25.42
+1.42 +5.92%
Volume: 389.86M
Feb. 20, 2020 3:00p
P/E Ratio
24.45
Dividend Yield
1.38%
Market Cap
¥310.24 billion
Rev. per Employee
¥2.96M
loading...
/zigman2/quotes/201668148/delayed
HK : Hong Kong
HK$ 9.67
0.00 0.00%
Volume: 4.79M
Feb. 20, 2020 4:08p
P/E Ratio
11.90
Dividend Yield
2.35%
Market Cap
HK$33.48 billion
Rev. per Employee
HK$12.12M
loading...
/zigman2/quotes/201334192/delayed
CN : China: Shanghai
¥ 14.89
+0.19 +1.29%
Volume: 42.49M
Feb. 20, 2020 3:00p
P/E Ratio
20.89
Dividend Yield
1.34%
Market Cap
¥50.90 billion
Rev. per Employee
¥10.12M
loading...
/zigman2/quotes/205368244/delayed
HK : Hong Kong
HK$ 5.80
+0.38 +7.01%
Volume: 106.17M
Feb. 20, 2020 4:08p
P/E Ratio
12.75
Dividend Yield
4.84%
Market Cap
HK$65.12 billion
Rev. per Employee
HK$7.25M
loading...
/zigman2/quotes/204000062/delayed
US : U.S.: OTC
$ 13.88
+0.11 +0.76%
Volume: 25,298
Feb. 19, 2020 3:59p
P/E Ratio
11.96
Dividend Yield
4.89%
Market Cap
$8.38 billion
Rev. per Employee
$924,869
loading...
/zigman2/quotes/203856914/composite
US : U.S.: NYSE
$ 150.86
-0.24 -0.16%
Volume: 2.73M
Feb. 19, 2020 6:30p
P/E Ratio
14.28
Dividend Yield
4.30%
Market Cap
$133.61 billion
Rev. per Employee
$208,845
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 325.50
-1.00 -0.31%
Volume: 27.01M
Feb. 20, 2020 1:30p
P/E Ratio
24.45
Dividend Yield
2.92%
Market Cap
NT$8466.28 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204359850/composite
US : U.S.: NYSE
$ 57.64
+1.46 +2.60%
Volume: 7.87M
Feb. 19, 2020 6:30p
P/E Ratio
26.73
Dividend Yield
2.15%
Market Cap
$298.93 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 51.43
-0.13 -0.25%
Volume: 2.03M
Feb. 19, 2020 6:30p
P/E Ratio
15.14
Dividend Yield
5.17%
Market Cap
$75.72 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.52
+0.02 +0.05%
Volume: 4.98M
Feb. 20, 2020 4:10p
P/E Ratio
16.21
Dividend Yield
5.54%
Market Cap
$194.68 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 54.34
-0.08 -0.15%
Volume: 904,808
Feb. 19, 2020 6:30p
P/E Ratio
6.90
Dividend Yield
6.09%
Market Cap
$68.45 billion
Rev. per Employee
$852,406
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 98.14
+0.05 +0.05%
Volume: 960,358
Feb. 20, 2020 4:10p
P/E Ratio
8.94
Dividend Yield
9.14%
Market Cap
$159.27 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202765860/delayed
KR : S. Korea: KRX
448,000
-13,000 -2.82%
Volume: 64,515
Feb. 20, 2020 3:30p
P/E Ratio
13.56
Dividend Yield
2.46%
Market Cap
₩8147.82 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203626509/delayed
US : U.S.: OTC
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
0.00
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/209253802/delayed
JP : Japan: Tokyo
¥ 2,386.00
0.00 0.00%
Volume: 291,700
Feb. 20, 2020 3:00p
P/E Ratio
11.15
Dividend Yield
2.72%
Market Cap
¥46.54 billion
Rev. per Employee
¥103.77M
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,491.00
+14.00 +0.95%
Volume: 1.64M
Feb. 20, 2020 3:00p
P/E Ratio
15.23
Dividend Yield
1.68%
Market Cap
¥902.22 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/200401218/delayed
US : U.S.: OTC
$ 3.29
-0.04 -1.05%
Volume: 46,370
Feb. 19, 2020 3:58p
P/E Ratio
15.34
Dividend Yield
0.88%
Market Cap
$7.07 billion
Rev. per Employee
$454,670
loading...
/zigman2/quotes/202367843/delayed
US : U.S.: OTC
$ 44.20
0.00 0.00%
Volume: 500.00
Feb. 19, 2020 5:20p
P/E Ratio
14.05
Dividend Yield
N/A
Market Cap
$300.24 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
60,000.00
-200.00 -0.33%
Volume: 14.59M
Feb. 20, 2020 3:30p
P/E Ratio
16.56
Dividend Yield
2.36%
Market Cap
₩408919.00 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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