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Oct. 7, 2019, 11:52 p.m. EDT

Asian markets gain ahead of U.S.-China trade talks

Nikkei posts strong gain as mainland China markets reopen after weeklong holiday; HKEX drops $37 billion bid to buy LSE

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By Marketwatch and Associated Press


Reuters
Hong Kong Exchanges and Clearing Ltd. dropped its bid to buy the London Stock Exchange on Tuesday.

Asian markets gained in early trading Tuesday amid hopes that progress can be made at U.S.-China trade talks later this week.

China confirmed that its top trade negotiator, Vice Premier Liu He, would lead its delegation in Washington for high-level talks starting Thursday. China has reportedly taken some issues that the U.S. views as points of contention off the negotiating table, however.

President Donald Trump on Monday said there was a “good possibility” of reaching a deal with China to end the yearlong tariff war, though he added he would not be satisfied with a partial deal.

Meanwhile, the U.S. blacklisted a group of Chinese artificial-intelligence companies that it said was making technology that the Chinese government was using to repress its Muslim minority.

The U.S. on Monday also signed a limited trade deal with Japan, giving U.S. farmers benefits they lost when Trump pulled the U.S. out of the Trans-Pacific Partnership in 2017.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -2.17%   rose 1.1% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.51%   gained 1% as it reopened after a holiday Monday. Mainland China’s markets reopened after a weeklong holiday, with the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.19%   up 0.8% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.35%   up 1%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.33%   gained 1% and benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.01%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.71%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.26%   advanced. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.35%   rose 0.4%.

Shares of Hong Kong Exchanges and Clearing Ltd. /zigman2/quotes/200234512/delayed HK:388 +1.17%   jumped after the company announced it was dropping its $37 billion bid to buy the London Stock Exchange, after the two companies’ boards were “unable to engage.” The LSE had previously rejected HKEX’s bid, which turned hostile.

Among individual stocks, Japan Steel Works /zigman2/quotes/207991538/delayed JP:5631 -2.73%   gained in Tokyo trading, along with Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 -2.30%   and Toyota /zigman2/quotes/203803129/delayed JP:7203 -0.91%  . In Hong Kong, Volvo parent Geely Automobile /zigman2/quotes/200716015/delayed HK:175 +0.62%  , PetroChina /zigman2/quotes/204979431/delayed HK:857 +0.81%   and property developer Country Garden /zigman2/quotes/201681083/delayed HK:2007 +8.85%   rose. Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.45%   gained in South Korea after warning of a sharp drop in quarterly operating profit, though it said its chip sales could start recovering after the new year. Mining giant Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +0.49%   was up in Australia.

“Having sold off through late September, this positioning ahead of the trade talks suggests that the market is not entirely pessimistic towards the outcome,” said Jingyi Pan, market strategist for IG in Singapore.

On Wall Street, the market extended its losing streak into a fourth week on Monday.

The market is coming off a three-week skid following a mostly discouraging batch of economic data that stoked investors’ worries that a slowdown in U.S. economic growth could worsen.

The combination of uncertainty over the costly trade war between the U.S. and China and the impeachment inquiry unfolding in Washington is likely to continue to drag on the economy and weigh on markets.

The S&P 500 /zigman2/quotes/210599714/realtime SPX -0.08%   fell 13.22 points, or 0.4%, at 2,938.79. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.15%   slid 95.70 points, or 0.4%, to 26,478.02. The Nasdaq /zigman2/quotes/210598365/realtime COMP +0.22%   dropped 26.18 points, or 0.3%, to 7,956.29.

Benchmark crude oil   added 32 cents to $53.07 a barrel. It fell 6 cents to $52.75 a barrel on Monday. Brent crude oil  , the international standard, rose 35 cents to $58.70 a barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0064%   rose to 107.32 Japanese yen from 106.84 yen on Monday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
29,839.71
-660.34 -2.17%
Volume: 0.00
Sept. 21, 2021 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,221.54
+122.40 +0.51%
Volume: 2.08M
Sept. 21, 2021 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,613.97
+6.87 +0.19%
Volume: 51.69B
Sept. 17, 2021 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,446.05
+8.50 +0.35%
Volume: 50.90B
Sept. 17, 2021 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,140.51
+10.42 +0.33%
Volume: 589,244
Sept. 17, 2021 3:32p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
17,276.79
-1.91 -0.01%
Volume: 0.00
Sept. 17, 2021 1:31p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,063.20
+21.47 +0.71%
Volume: 0.00
Sept. 21, 2021 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,060.76
-15.56 -0.26%
Volume: 0.00
Sept. 21, 2021 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,273.80
+25.60 +0.35%
Volume: 740,270
Sept. 21, 2021 4:59p
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/zigman2/quotes/200234512/delayed
HK : Hong Kong
$ 484.40
+5.60 +1.17%
Volume: 3.08M
Sept. 21, 2021 4:08p
P/E Ratio
47.66
Dividend Yield
1.89%
Market Cap
$605.77 billion
Rev. per Employee
N/A
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/zigman2/quotes/207991538/delayed
JP : Japan: Tokyo
¥ 2,957.00
-83.00 -2.73%
Volume: 345,600
Sept. 21, 2021 3:00p
P/E Ratio
24.10
Dividend Yield
1.52%
Market Cap
¥223.65 billion
Rev. per Employee
¥36.39M
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/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 74,630.00
-1,760 -2.30%
Volume: 615,100
Sept. 21, 2021 3:00p
P/E Ratio
50.53
Dividend Yield
0.64%
Market Cap
¥7802.28 billion
Rev. per Employee
¥34.80M
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/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 9,929.00
-91.00 -0.91%
Volume: 5.89M
Sept. 21, 2021 3:00p
P/E Ratio
9.38
Dividend Yield
2.42%
Market Cap
¥27993.37 billion
Rev. per Employee
¥74.30M
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/zigman2/quotes/200716015/delayed
HK : Hong Kong
$ 24.40
+0.15 +0.62%
Volume: 21.98M
Sept. 21, 2021 4:08p
P/E Ratio
37.38
Dividend Yield
0.82%
Market Cap
$238.15 billion
Rev. per Employee
$2.72M
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/zigman2/quotes/204979431/delayed
HK : Hong Kong
$ 3.72
+0.03 +0.81%
Volume: 109.07M
Sept. 21, 2021 4:08p
P/E Ratio
5.72
Dividend Yield
7.06%
Market Cap
$1190.74 billion
Rev. per Employee
$4.65M
loading...
/zigman2/quotes/201681083/delayed
HK : Hong Kong
$ 7.13
+0.58 +8.85%
Volume: 53.26M
Sept. 21, 2021 4:08p
P/E Ratio
3.78
Dividend Yield
7.78%
Market Cap
$145.44 billion
Rev. per Employee
$5.54M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
77,200.00
+1,100 +1.45%
Volume: 16.29M
Sept. 17, 2021 3:30p
P/E Ratio
16.26
Dividend Yield
1.87%
Market Cap
₩519950.53 billion
Rev. per Employee
₩2.16B
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/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 95.71
+0.47 +0.49%
Volume: 1.66M
Sept. 21, 2021 4:11p
P/E Ratio
6.26
Dividend Yield
13.34%
Market Cap
$146.11 billion
Rev. per Employee
$1.36M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,354.19
-3.54 -0.08%
Volume: 1.91B
Sept. 21, 2021 5:12p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,919.84
-50.63 -0.15%
Volume: 307.98M
Sept. 21, 2021 5:12p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
14,746.40
+32.49 +0.22%
Volume: 3.64M
Sept. 21, 2021 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.2300
+0.0070 +0.0064%
Volume: 0.0000
Sept. 21, 2021 5:37p
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