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April 12, 2012, 4:46 a.m. EDT

Most Asia markets rise, China stocks jump

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By Virginia Harrison and Nick Godt, MarketWatch

MUMBAI (MarketWatch) — Chinese stocks led an advance for most Asia markets on Thursday, although South Korean shares bucked the higher trend as investors returned from a one-day elections break.

China’s Shanghai Composite /zigman2/quotes/206600939/delayed CN:000001 -0.06% jumped 1.8%, Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.09%  traded up 0.9%, Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO -0.33%  added 0.8% and Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.39%  added 0.7%.

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Stocks rebound to end 5-day slide

Stocks bounced back from a recent string of losses, after a strong start to the corporate-earnings season and a drop in Spanish and Italian government borrowing rates.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.49%  lost 0.4% as investors played catch-up after a one-day break for elections -- which saw the ruling conservative party retain power.

Property firms were among the gainers in mainland China, with China Vanke Co.   rising 2.2% and Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 -1.98%  up 1.6%.

In Hong Kong, China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 -1.26% /zigman2/quotes/201656413/delayed CRBJF +5.00%  jumped 3.3% and Guangzhou R&F Properties Co. /zigman2/quotes/200033596/delayed HK:2777 -1.41%   /zigman2/quotes/206698750/delayed GZUHF -13.97%  added 2%.

In the financial sector, Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 -0.93%   /zigman2/quotes/201568493/delayed BACHY +0.10%  rose 1.9% and New China Life Insurance Co. /zigman2/quotes/204761736/delayed CN:601336 -0.87%  rallied 3.3%.

The World Bank trimmed its growth forecast for China on Thursday, and slowing growth may mean a greater possibility of more stimulus measures. Read more on the World Bank's China assessment.

On the downside, shares in China Coal Energy Co. /zigman2/quotes/205321671/delayed CCOZY -1.24%   /zigman2/quotes/201486584/delayed HK:1898 -0.37%  fell 0.8% after a flooding accident at a mine operated by a unit killed four miners, prompting a suspension of all operations by that unit.

Foxconn International Holdings /zigman2/quotes/205017351/delayed HK:2038 0.00%   /zigman2/quotes/208801946/delayed FXCNY +1.08%   tumbled 7.4% after core customer Nokia Corp. /zigman2/quotes/207421390/composite NOK 0.00%  announced a profit warning for the first half of the year. Read more on Foxconn's share slide and Nokia's warning.

Yen steady

Some Tokyo-listed exporters moved ahead, helped by a steady yen. Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 +0.50%   climbed 2.1%, while Mazda Motor Corp. /zigman2/quotes/204777714/delayed JP:7261 -0.11%   /zigman2/quotes/206326885/delayed MZDAY -0.25% /zigman2/quotes/206326885/delayed MZDAY -0.25%  and Pioneer Corp. each added 1.5%.

After the Japanese close, Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 -0.57%   /zigman2/quotes/208567357/composite SNE -1.20%  said it would cut 10,000 jobs worldwide as part of a restructuring, after it issued a profit warning earlier this week. Shares rose 0.9% before the announcement. Read more on Sony job cuts.

Shares in Hitachi Construction Machinery /zigman2/quotes/205375504/delayed JP:6305 +0.03%   /zigman2/quotes/202415695/delayed HTCMY +0.55%  jumped 4.1% after the Nikkei business daily reported the firm is expected to deliver a near 40% lift in consolidating operating profit for the fiscal year.

However, major exporters dragged in South Korea. Samsung Electronics Co. /zigman2/quotes/203012110/delayed SSNGY 0.00%  and LG Electronics Inc. /zigman2/quotes/206354790/delayed LGEIY 0.00%  each tumbled 2.9%.

Some strategists said the election result could help sentiment.

“The surprise win by the ruling party could help reduce policy uncertainties. Political developments are still an important factor for markets however, given the upcoming December presidential elections,” said strategists at Goldman Sachs.

Shares in Korean Air Lines Co.  fell 0.8% after a bomb threat forced one of its aircraft to make an emergency landing in Canada on Wednesday.

A planned rocket launch in neighboring North Korea was also closely watched. Read more on the planned North Korean missile launch.

“The North Korea risk has never before succeeded in reversing the Korean stock market’s course, other than brief pullbacks, and every such pullback was a buying opportunity,” Daniel Cho, head of research at Daishin Securities said in emailed comments.

“There is no reason why this time will be different, although foreign investors’ unease is a little bigger than before, given the unstable state of North Korea’s new regime,” Cho said.

Resources firm

In Australia, commodity-linked firms led gains. Global miner BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP -0.78%   /zigman2/quotes/208108397/composite BHP -0.45%  rose 0.9%. Rival Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -0.46%   /zigman2/quotes/202627887/composite RIO +0.79%  put on 1.5% and PanAust Ltd.  surged 5.4% after it said its copper output rose in the first quarter.

Energy plays were also higher, with Santos Ltd. /zigman2/quotes/207349564/delayed AU:STO -1.86%    up 1.3%, after crude-oil futures jumped above $102-a-barrel in New York trading on Wednesday.

/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.58
-0.01 -0.06%
Volume: 99.51M
Feb. 21, 2020 3:00p
P/E Ratio
11.14
Dividend Yield
1.40%
Market Cap
¥302.34 billion
Rev. per Employee
¥6.12M
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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/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/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
23,386.74
-92.41 -0.39%
Volume: 0.00
Feb. 21, 2020 3:15p
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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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/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
¥182.93 billion
Rev. per Employee
¥3.42M
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/zigman2/quotes/202417326/delayed
HK : Hong Kong
HK$ 35.15
-0.45 -1.26%
Volume: 11.74M
Feb. 21, 2020 4:08p
P/E Ratio
7.55
Dividend Yield
3.57%
Market Cap
HK$250.65 billion
Rev. per Employee
HK$3.68M
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/zigman2/quotes/201656413/delayed
US : U.S.: OTC
$ 4.41
+0.21 +5.00%
Volume: 0.00
Feb. 20, 2020 5:20p
P/E Ratio
7.42
Dividend Yield
N/A
Market Cap
$31.45 billion
Rev. per Employee
$470,019
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/zigman2/quotes/200033596/delayed
HK : Hong Kong
HK$ 12.60
-0.18 -1.41%
Volume: 4.71M
Feb. 21, 2020 4:08p
P/E Ratio
4.17
Dividend Yield
11.21%
Market Cap
HK$44.04 billion
Rev. per Employee
HK$2.84M
loading...
/zigman2/quotes/206698750/delayed
US : U.S.: OTC
$ 1.54
-0.25 -13.97%
Volume: 3,200
Feb. 21, 2020 5:20p
P/E Ratio
4.00
Dividend Yield
N/A
Market Cap
$5.38 billion
Rev. per Employee
$362,587
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/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 3.19
-0.03 -0.93%
Volume: 260.67M
Feb. 21, 2020 4:08p
P/E Ratio
4.48
Dividend Yield
6.61%
Market Cap
HK$939.03 billion
Rev. per Employee
HK$3.13M
loading...
/zigman2/quotes/201568493/delayed
US : U.S.: OTC
$ 10.19
+0.01 +0.10%
Volume: 59,584
Feb. 21, 2020 3:46p
P/E Ratio
4.57
Dividend Yield
5.45%
Market Cap
$34.08 billion
Rev. per Employee
$399,878
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/zigman2/quotes/204761736/delayed
CN : China: Shanghai
¥ 47.99
-0.42 -0.87%
Volume: 23.00M
Feb. 21, 2020 3:00p
P/E Ratio
11.32
Dividend Yield
1.60%
Market Cap
¥149.71 billion
Rev. per Employee
¥3.98M
loading...
/zigman2/quotes/205321671/delayed
US : U.S.: OTC
$ 7.18
-0.09 -1.24%
Volume: 0.00
Feb. 13, 2020 9:41a
P/E Ratio
8.94
Dividend Yield
2.52%
Market Cap
$14.29 billion
Rev. per Employee
$354,816
loading...
/zigman2/quotes/201486584/delayed
HK : Hong Kong
HK$ 2.71
-0.01 -0.37%
Volume: 7.12M
Feb. 21, 2020 4:08p
P/E Ratio
6.20
Dividend Yield
3.28%
Market Cap
HK$35.93 billion
Rev. per Employee
HK$2.78M
loading...
/zigman2/quotes/205017351/delayed
HK : Hong Kong
HK$ 1.27
0.00 0.00%
Volume: 8.95M
Feb. 21, 2020 4:08p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
HK$10.42 billion
Rev. per Employee
HK$1.26M
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/zigman2/quotes/208801946/delayed
US : U.S.: OTC
$ 3.29
+0.04 +1.08%
Volume: 0.00
Feb. 20, 2020 12:57p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.34 billion
Rev. per Employee
$160,918
loading...
/zigman2/quotes/207421390/composite
US : U.S.: NYSE
$ 4.16
0.00 0.00%
Volume: 21.12M
Feb. 21, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
4.11%
Market Cap
$23.37 billion
Rev. per Employee
$258,434
loading...
/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 1,195.00
+6.00 +0.50%
Volume: 6.65M
Feb. 21, 2020 3:00p
P/E Ratio
9.67
Dividend Yield
2.51%
Market Cap
¥2787.77 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/204777714/delayed
JP : Japan: Tokyo
¥ 897.00
-1.00 -0.11%
Volume: 2.56M
Feb. 21, 2020 3:00p
P/E Ratio
9.61
Dividend Yield
3.90%
Market Cap
¥564.92 billion
Rev. per Employee
¥71.32M
loading...
/zigman2/quotes/206326885/delayed
US : U.S.: OTC
$ 3.95
-0.01 -0.25%
Volume: 78,429
Feb. 21, 2020 3:50p
P/E Ratio
9.84
Dividend Yield
2.78%
Market Cap
$4.98 billion
Rev. per Employee
$646,191
loading...
/zigman2/quotes/206326885/delayed
US : U.S.: OTC
$ 3.95
-0.01 -0.25%
Volume: 78,429
Feb. 21, 2020 3:50p
P/E Ratio
9.84
Dividend Yield
2.78%
Market Cap
$4.98 billion
Rev. per Employee
$646,191
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,479.00
-43.00 -0.57%
Volume: 4.20M
Feb. 21, 2020 3:00p
P/E Ratio
14.41
Dividend Yield
0.60%
Market Cap
¥9172.90 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 65.94
-0.80 -1.20%
Volume: 907,049
Feb. 21, 2020 6:30p
P/E Ratio
13.82
Dividend Yield
0.41%
Market Cap
$80.87 billion
Rev. per Employee
$654,652
loading...
/zigman2/quotes/205375504/delayed
JP : Japan: Tokyo
¥ 2,953.00
+1.00 +0.03%
Volume: 676,100
Feb. 21, 2020 3:00p
P/E Ratio
12.00
Dividend Yield
2.91%
Market Cap
¥627.97 billion
Rev. per Employee
¥42.57M
loading...
/zigman2/quotes/202415695/delayed
US : U.S.: OTC
$ 54.63
+0.30 +0.55%
Volume: 1.00
Feb. 21, 2020 5:20p
P/E Ratio
12.12
Dividend Yield
2.45%
Market Cap
$5.81 billion
Rev. per Employee
$385,710
loading...
/zigman2/quotes/203012110/delayed
US : U.S.: OTC
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
2.64
Dividend Yield
12.21%
Market Cap
$248.83 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206354790/delayed
US : U.S.: OTC
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
66.83
Dividend Yield
0.79%
Market Cap
$8.90 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.22
-0.30 -0.78%
Volume: 4.79M
Feb. 21, 2020 4:10p
P/E Ratio
14.30
Dividend Yield
5.64%
Market Cap
$193.27 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 50.41
-0.23 -0.45%
Volume: 2.10M
Feb. 21, 2020 6:30p
P/E Ratio
14.84
Dividend Yield
5.67%
Market Cap
$74.22 billion
Rev. per Employee
N/A
loading...
/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
$158.62 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 54.62
+0.43 +0.79%
Volume: 2.57M
Feb. 21, 2020 6:30p
P/E Ratio
6.94
Dividend Yield
6.06%
Market Cap
$68.80 billion
Rev. per Employee
$852,406
loading...
/zigman2/quotes/207349564/delayed
AU : Australia: Sydney
$ 7.92
-0.15 -1.86%
Volume: 5.37M
Feb. 21, 2020 4:10p
P/E Ratio
17.19
Dividend Yield
2.09%
Market Cap
$16.46 billion
Rev. per Employee
$2.29M
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Virginia Harrison is a MarketWatch reporter based in Sydney. Nick Godt is a MarketWatch reporter based in Mumbai.

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