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Dec. 4, 2019, 10:19 p.m. EST

Asian markets gain on renewed optimism about U.S.-China trade deal

Nikkei, Hang Seng advance on report that phase-one deal could be reached soon

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By Associated Press and Marketwatch


Getty Images/iStockphoto
Namsan Tower rises behind the Korean Pavilion in Seoul, South Korea.

Asian shares were rising Thursday amid renewed hopes a U.S. trade deal with China may be nearing, despite tough recent talk from President Donald Trump.

Japan’s benchmark Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +1.80%   gained 0.7% in early trading, while Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.48%   added nearly 1%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.00%   slipped 0.5%. Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.77%   was up 0.4% while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.16%   rose 0.4%. Benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.90%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.62%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.09%   advanced.

Among individual stocks, Nippon Steel /zigman2/quotes/209782682/delayed JP:5401 +7.50%   jumped in Tokyo trading, while SoftBank /zigman2/quotes/207303954/delayed JP:9984 +1.57% ,  Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 +3.43%   and Honda /zigman2/quotes/200490352/delayed JP:7267 +2.66%   also posted gains. In Hong Kong, Apple component makers Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.16%   and AAC /zigman2/quotes/201441510/delayed HK:2018 +0.35%  surged, and oil producer CNOOC /zigman2/quotes/203421416/delayed HK:883 +2.37%   also rose. Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 0.00%   sank in South Korea after announcing a $52 billion investment in electric and autonomous cars over the next five years. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -1.17%   and Woodside Petroleum /zigman2/quotes/203437212/delayed AU:WPL +0.78%   gained in Australia.

Shares on Wall Street finished higher Wednesday, with the gains snapped a three-day losing streak for the S&P 500. The U.S. market has swung sharply for months on every hint of progress about talks between the world’s largest economies, and Asian regional indexes have tended to reflect those fluctuations.

In the latest development, Bloomberg News reported that U.S. negotiators expect a “Phase 1” trade agreement to be completed before U.S. tariffs are set to rise on Chinese products Dec. 15.

The report came a day after Trump said he wouldn’t mind waiting until after the 2020 elections for a deal, a remark that officials reportedly called off the cuff but nevertheless sent markets skidding.

“The trade war will be the key driver of sentiment in the immediate few weeks,” DBS Group analysts wrote in a report.

The S&P 500 /zigman2/quotes/210599714/realtime SPX -0.0077%   rose 19.56 points, or 0.6%, to 3,112.76. Despite recovering some losses, the index is still down 0.9% for the week. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.12%   climbed 146.97 points, or 0.5%, to 27,649.78. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP -0.14%   gained 46.03 points, or 0.5%, to 8,566.67.

Benchmark U.S. crude   lost 21 cents to $58.22 a barrel. It climbed $2.33, or 4.2%, to $58.43 per barrel Wednesday, as members of OPEC prepare to meet later this week and vote on production levels. Brent crude  , the international standard, slipped 7 cents to $62.93.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0266%   rose to 108.91 Japanese yen from 108.68 yen Wednesday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
29,331.37
+518.74 +1.80%
Volume: 0.00
May 6, 2021 3:15p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,061.70
-34.10 -0.48%
Volume: 624,452
May 6, 2021 5:17p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,178.74
+31.37 +1.00%
Volume: 1.24M
May 6, 2021 3:32p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,637.46
+219.48 +0.77%
Volume: 2.48M
May 6, 2021 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,441.28
-5.57 -0.16%
Volume: 31.04B
May 6, 2021 3:01p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
16,994.36
+150.92 +0.90%
Volume: 0.00
May 6, 2021 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,173.00
+19.41 +0.62%
Volume: 0.00
May 6, 2021 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,970.24
-5.67 -0.09%
Volume: 0.00
May 6, 2021 3:00p
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/zigman2/quotes/209782682/delayed
JP : Japan: Tokyo
¥ 2,050.00
+143.00 +7.50%
Volume: 10.05M
May 6, 2021 3:00p
P/E Ratio
N/A
Dividend Yield
0.49%
Market Cap
¥1755.90 billion
Rev. per Employee
¥55.55M
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 10,040.00
+155.00 +1.57%
Volume: 9.66M
May 6, 2021 3:00p
P/E Ratio
12.99
Dividend Yield
0.00%
Market Cap
¥17406.57 billion
Rev. per Employee
¥76.45M
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/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 92,790.00
+3,080 +3.43%
Volume: 829,100
May 6, 2021 3:00p
P/E Ratio
99.12
Dividend Yield
0.52%
Market Cap
¥9162.05 billion
Rev. per Employee
¥34.80M
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/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,318.00
+86.00 +2.66%
Volume: 6.38M
May 6, 2021 3:00p
P/E Ratio
13.81
Dividend Yield
2.47%
Market Cap
¥5580.52 billion
Rev. per Employee
¥68.28M
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 185.10
-0.30 -0.16%
Volume: 7.33M
May 6, 2021 4:08p
P/E Ratio
36.82
Dividend Yield
0.57%
Market Cap
HK$202.84 billion
Rev. per Employee
HK$1.75M
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/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 42.55
+0.15 +0.35%
Volume: 4.29M
May 6, 2021 4:08p
P/E Ratio
30.05
Dividend Yield
0.71%
Market Cap
HK$51.24 billion
Rev. per Employee
HK$570,931
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/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 8.64
+0.20 +2.37%
Volume: 180.93M
May 6, 2021 4:08p
P/E Ratio
13.71
Dividend Yield
5.21%
Market Cap
HK$376.82 billion
Rev. per Employee
HK$9.51M
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/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
223,500
0.00 0.00%
Volume: 645,594
May 6, 2021 3:30p
P/E Ratio
40.86
Dividend Yield
1.34%
Market Cap
₩51249.52 billion
Rev. per Employee
₩1.45B
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/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.27
-0.02 -1.17%
Volume: 12.24M
May 6, 2021 4:10p
P/E Ratio
8.27
Dividend Yield
1.57%
Market Cap
$2.93 billion
Rev. per Employee
N/A
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/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 23.15
+0.18 +0.78%
Volume: 2.31M
May 6, 2021 4:10p
P/E Ratio
N/A
Dividend Yield
2.23%
Market Cap
$22.09 billion
Rev. per Employee
$1.42M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,167.27
-0.32 -0.0077%
Volume: 231.17M
May 6, 2021 9:52a
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,272.51
+42.17 +0.12%
Volume: 32.79M
May 6, 2021 9:52a
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/zigman2/quotes/210598365/realtime
US : Nasdaq
13,562.88
-19.55 -0.14%
Volume: 626,510
May 6, 2021 9:52a
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.2250
+0.0290 +0.0266%
Volume: 0.0000
May 6, 2021 9:52a
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