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Oct. 7, 2009, 5:58 a.m. EDT

Sydney and Hong Kong spurred by commodity stocks

U.S. dollar's weakness vs. Asian currencies hurts regional exporters

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By V. Phani Kumar, Colin Ng and Kirsty Green

HONG KONG (MarketWatch) -- Most Asian markets were higher Wednesday, with resource stocks rallying on the back of strong commodity prices as gold hovered near its record.

Investors were also looking forward to U.S. third-quarter earnings, which kick off later on Wednesday with aluminum giant Alcoa reporting.

"There are few negatives seen, with increasing optimism about profit-margin expansion and not necessarily top-line revenue growth driving the market," said Bell Potter's senior client adviser, Stuart Smith.

In Sydney, the S&P/ASX 200 rose 2.3% to 4,695.70, Japan's Nikkei 225 was up 1.1% to 9,799.60, and Hong Kong's Hang Seng Index climbed 2.1% to 21,241.59.

Gold miners jumped after spot gold prices hit a record $1,043.55 a troy ounce Tuesday. The yellow metal was recently at $1,039.50 a troy ounce, down $2.30 from the New York close.

Australia's Lihir Gold /zigman2/quotes/225675330/delayed AU:LGL 0.00% rose 5.7% and Newcrest Mining /zigman2/quotes/203840223/delayed AU:NCM -1.14% /zigman2/quotes/203286036/composite NCMGY -2.50% surged 6.7%.

In Hong Kong, Zhaojin Mining Industry Co. /zigman2/quotes/203361399/delayed HK:1818 +1.32% /zigman2/quotes/200275285/composite ZHAOF +5.41% rose 4.6% and Zijin Mining Group /zigman2/quotes/204517000/delayed HK:2899 +4.57% /zigman2/quotes/209836076/composite ZIJMF +0.74% gained 4.2%.

/zigman2/quotes/210598030/delayed HSI 24,965.55, +13.20, +0.05%
/zigman2/quotes/210598065/realtime DJIA 34,265.37, -450.02, -1.30%
HK:1804580

Gains for base-metals prices Tuesday also helped BHP Billiton /zigman2/quotes/208108397/composite BHP -4.50% /zigman2/quotes/201448516/delayed AU:BHP -4.81% was up 3.2% and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -4.14% was up 5.2% in Sydney.

A rise in crude-oil futures lifted Santos /zigman2/quotes/207349564/delayed AU:STO -2.62% 1.2%. PetroChina Co. /zigman2/quotes/204979431/delayed HK:857 -1.27% /zigman2/quotes/205108732/composite PTR -0.90% climbed 3.6% in Hong Kong.

The lead November Nymex crude-oil futures contract was recently up 33 cents at $71.21 per barrel, after settling 47 cents higher on Tuesday in New York.

Miners and energy stocks were also outperforming in other Asian markets. Korea Zinc Co. climbed 7.5% in Seoul and Sumitomo Metal Mining Co. /zigman2/quotes/205273301/delayed JP:5713 +3.21% was up 5.4% in Tokyo. Japan's Inpex /zigman2/quotes/206689846/delayed JP:1605 -5.99% gained 2.9%. Sterlite Industries /zigman2/quotes/205002590/composite SLT -3.65% jumped 5.8% in Mumbai afternoon trading.

Among other big stock gainers, Japanese materials manufacturer Tosoh /zigman2/quotes/202419417/delayed JP:4042 -1.29% /zigman2/quotes/200934693/composite TOSCF +4.61% was up 6.8% and peer Showa Denko /zigman2/quotes/207440340/delayed JP:4004 -3.74% /zigman2/quotes/202107188/composite SHWDF -11.94% soared 10.5%, after the Nikkei reported the two were starting to produce safe, low-cost materials for lithium-ion batteries with an eye on growing demand for green vehicles.

Elsewhere, Taiwan's Taiex gained 1%, New Zealand's NZX 50 dropped 0.3% and Philippines' main index jumped 2.9%.

Singapore's Straits Times Index was up 1% in afternoon trading.

U.S. stock futures were pointing toward a higher opening again, after the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.30% added more than 130 points overnight. DJIA futures were recently up 72 points in screen trade.

/zigman2/quotes/225675330/delayed
AU : Australia: Sydney
$ 3.26
0.00 0.00%
Volume: 6,711
Jan. 21, 2022 4:10p
P/E Ratio
16.00
Dividend Yield
N/A
Market Cap
$397.94 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 25.26
-0.29 -1.14%
Volume: 5.55M
Jan. 21, 2022 4:10p
P/E Ratio
13.29
Dividend Yield
2.95%
Market Cap
$20.60 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203286036/composite
US : U.S.: OTC
$ 17.92
-0.46 -2.50%
Volume: 68,796
Jan. 21, 2022 3:49p
P/E Ratio
12.83
Dividend Yield
2.86%
Market Cap
$14.83 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203361399/delayed
HK : Hong Kong
$ 6.93
+0.09 +1.32%
Volume: 8.61M
Jan. 21, 2022 4:08p
P/E Ratio
30.07
Dividend Yield
0.88%
Market Cap
$22.37 billion
Rev. per Employee
$1.38M
loading...
/zigman2/quotes/200275285/composite
US : U.S.: OTC
$ 0.81
+0.04 +5.41%
Volume: 0.00
Dec. 13, 2021 3:35p
P/E Ratio
27.25
Dividend Yield
N/A
Market Cap
$2.74 billion
Rev. per Employee
$177,689
loading...
/zigman2/quotes/204517000/delayed
HK : Hong Kong
$ 10.98
+0.48 +4.57%
Volume: 73.96M
Jan. 21, 2022 4:08p
P/E Ratio
18.02
Dividend Yield
1.32%
Market Cap
$321.51 billion
Rev. per Employee
$6.71M
loading...
/zigman2/quotes/209836076/composite
US : U.S.: OTC
$ 1.37
+0.01 +0.74%
Volume: 206,407
Jan. 21, 2022 3:02p
P/E Ratio
17.45
Dividend Yield
N/A
Market Cap
$41.30 billion
Rev. per Employee
$863,830
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 64.97
-3.06 -4.50%
Volume: 9.53M
Jan. 21, 2022 4:00p
P/E Ratio
14.89
Dividend Yield
9.27%
Market Cap
$166.41 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 45.70
-2.31 -4.81%
Volume: 20.07M
Jan. 21, 2022 4:10p
P/E Ratio
15.45
Dividend Yield
8.81%
Market Cap
$231.17 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 108.72
-4.69 -4.14%
Volume: 3.26M
Jan. 21, 2022 4:10p
P/E Ratio
7.11
Dividend Yield
11.75%
Market Cap
$168.49 billion
Rev. per Employee
$1.64M
loading...
/zigman2/quotes/207349564/delayed
AU : Australia: Sydney
$ 7.07
-0.19 -2.62%
Volume: 17.86M
Jan. 21, 2022 4:10p
P/E Ratio
40.68
Dividend Yield
2.06%
Market Cap
$23.89 billion
Rev. per Employee
$1.89M
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
$ 3.90
-0.05 -1.27%
Volume: 194.35M
Jan. 21, 2022 4:08p
P/E Ratio
6.89
Dividend Yield
6.73%
Market Cap
$1110.41 billion
Rev. per Employee
$5.99M
loading...
/zigman2/quotes/205108732/composite
US : U.S.: NYSE
$ 49.64
-0.45 -0.90%
Volume: 173,429
Jan. 21, 2022 4:00p
P/E Ratio
9.59
Dividend Yield
6.04%
Market Cap
$142.62 billion
Rev. per Employee
$583,185
loading...
/zigman2/quotes/205273301/delayed
JP : Japan: Tokyo
¥ 5,214.00
+162.00 +3.21%
Volume: 3.95M
Jan. 21, 2022 3:00p
P/E Ratio
7.50
Dividend Yield
3.53%
Market Cap
¥1432.66 billion
Rev. per Employee
¥156.24M
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 1,051.00
-67.00 -5.99%
Volume: 19.89M
Jan. 21, 2022 3:00p
P/E Ratio
10.13
Dividend Yield
3.81%
Market Cap
¥1632.51 billion
Rev. per Employee
¥324.84M
loading...
/zigman2/quotes/205002590/composite
US : U.S.: Cboe BZX
$ 36.13
-1.37 -3.65%
Volume: 33.00
Jan. 21, 2022 4:10p
loading...
/zigman2/quotes/202419417/delayed
JP : Japan: Tokyo
¥ 1,759.00
-23.00 -1.29%
Volume: 650,200
Jan. 21, 2022 3:00p
P/E Ratio
5.75
Dividend Yield
3.41%
Market Cap
¥559.73 billion
Rev. per Employee
¥61.10M
loading...
/zigman2/quotes/200934693/composite
US : U.S.: OTC
$ 15.90
+0.70 +4.61%
Volume: 200.00
Jan. 18, 2022 9:32a
P/E Ratio
5.58
Dividend Yield
N/A
Market Cap
$4.99 billion
Rev. per Employee
$568,029
loading...
/zigman2/quotes/207440340/delayed
JP : Japan: Tokyo
¥ 2,366.00
-92.00 -3.74%
Volume: 2.83M
Jan. 21, 2022 3:00p
P/E Ratio
N/A
Dividend Yield
2.75%
Market Cap
¥428.43 billion
Rev. per Employee
¥41.25M
loading...
/zigman2/quotes/202107188/composite
US : U.S.: OTC
$ 24.26
-3.29 -11.94%
Volume: 2.00
Jan. 20, 2022 9:47a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.87 billion
Rev. per Employee
$383,618
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,265.37
-450.02 -1.30%
Volume: 523.88M
Jan. 21, 2022 4:52p
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