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Oct. 21, 2019, 11:46 p.m. EDT

Asian markets up on fresh hopes for U.S.-China ‘phase-one’ trade deal

Stocks edge up in Hong Kong, mainland China; Nikkei closed for holiday

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By Marketwatch and Associated Press


Bloomberg News
A sculpture of bulls stands outside the Shenzhen Stock Exchange in Shenzhen, China.

Asian markets rose slightly in early trading Tuesday after encouraging news about U.S.-China trade talks.

President Donald Trump on Monday said “the deal with China is coming along very well. They have to make a deal because their supply chain is going down the tubes.” That follows comments Saturday by China’s top trade negotiator, Vice Premier Liu He, who said “substantial progress” has been made toward a phase-one agreement. U.S. Trade Rep. Robert Lighthizer said Monday that he is aiming for a phase-one deal to be signed by Trump and China’s President Xi Jinping in mid-November at the Asia-Pacific Economic Cooperation summit in Chile.

“Unlike previous trade talks where expectations centered on the view that something is better than nothing, this time around there appears to be a tangible and workable roadmap in place which is supported by official confirmation that the U.S. and China were both on the same page about the intent to work towards Phase 1 of a ‘deal’ by mid-November,” Stephen Innes, Asia Pacific market strategist for AxiTrader, wrote in a note. “And the fact that Phase 2 is even being discussed at this time, which contains ‘actual meat’ according to United States Secretary of Commerce, suggesting that both U.S. and China may have finally found a bridge that isn’t too far.”

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.55%   advanced 0.2%, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.09%   was about flat, while the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.62%   rose 0.%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.57%   gained 1.1% and benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.79%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.20%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +1.17%   made gains. Australia’s S&P/ASX /zigman2/quotes/210598100/delayed AU:XJO -0.15%   was up 0.3%. Japan’s Nikkei was closed for a holiday.

Among individual stocks, Apple component maker AAC /zigman2/quotes/201441510/delayed HK:2018 -1.64%   surged in Hong Kong, and Geely Automobile /zigman2/quotes/200716015/delayed HK:175 +0.43%   and Sands China /zigman2/quotes/207609245/delayed HK:1928 +0.70%   advanced as well. Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.88%   and chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +3.00%   rose in South Korea, while Rio Tinto /zigman2/quotes/201448516/delayed AU:BHP -0.48%   and Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -0.85%   gained in Australia.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,788.93
+130.01 +0.55%
Volume: 2.33M
Dec. 2, 2021 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,573.84
-3.05 -0.09%
Volume: 35.40B
Dec. 2, 2021 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,508.45
-15.70 -0.62%
Volume: 47.86B
Dec. 2, 2021 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,945.27
+45.55 +1.57%
Volume: 534,461
Dec. 2, 2021 3:32p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
17,724.88
+138.89 +0.79%
Volume: 0.00
Dec. 2, 2021 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,092.11
-6.14 -0.20%
Volume: 0.00
Dec. 2, 2021 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,583.82
+76.14 +1.17%
Volume: 0.00
Dec. 2, 2021 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,225.20
-10.70 -0.15%
Volume: 652,444
Dec. 2, 2021 5:30p
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/zigman2/quotes/201441510/delayed
HK : Hong Kong
$ 33.05
-0.55 -1.64%
Volume: 8.07M
Dec. 2, 2021 4:08p
P/E Ratio
16.22
Dividend Yield
1.21%
Market Cap
$41.09 billion
Rev. per Employee
$570,931
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
$ 23.10
+0.10 +0.43%
Volume: 51.66M
Dec. 2, 2021 4:08p
P/E Ratio
35.39
Dividend Yield
0.87%
Market Cap
$227.36 billion
Rev. per Employee
$2.72M
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
$ 17.28
+0.12 +0.70%
Volume: 34.85M
Dec. 2, 2021 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$145.03 billion
Rev. per Employee
$305,069
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
75,800.00
+1,400 +1.88%
Volume: 23.65M
Dec. 2, 2021 3:30p
P/E Ratio
14.69
Dividend Yield
1.91%
Market Cap
₩478228.01 billion
Rev. per Employee
₩2.16B
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
120,000
+3,500 +3.00%
Volume: 6.98M
Dec. 2, 2021 3:30p
P/E Ratio
10.23
Dividend Yield
0.98%
Market Cap
₩78388.76 billion
Rev. per Employee
₩1.10B
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 39.71
-0.19 -0.48%
Volume: 6.89M
Dec. 2, 2021 4:10p
P/E Ratio
13.42
Dividend Yield
10.14%
Market Cap
$197.55 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.17
-0.01 -0.85%
Volume: 5.48M
Dec. 2, 2021 4:10p
P/E Ratio
8.40
Dividend Yield
1.72%
Market Cap
$2.70 billion
Rev. per Employee
N/A
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