10-28-13 12:35 AM EDT | Email Article

By Daniel Inman


Asian stocks moved higher on Monday, with Australia hitting a fresh-five year high, as shares bounced back from recent falls.


Regional markets started the week in recovery mode, following a series of declines last week that hit Japan and China especially hard. A pickup in interbank lending rates in China spooked investors and yanked the Shanghai Composite down 2.8% last week, while a strong yen helped the Nikkei Average sink 3.3% over the same period.


A positive lead from Wall Street, where the S&P 500 (SPX) hit a record high on Friday, and the absence of fresh negative catalysts allowed Asian stocks to bounce back.


The coming week promises to be a busy period in terms of earnings news for the region, while the U.S. Federal Reserve's policy meeting later on in the week will be a focus as investors look for clues on the central bank's stimulus plans.


Looking ahead to November, markets are anticipating an important Communist Party meeting in China, where there are expectations that the country's new government will unveil economic reforms.


Early in Asia, the yen (USDJPY) weakened slightly, with the dollar trading at Yen97.60, compared with Yen97.40 late Friday in New York.


The softer yen allowed the Nikkei Average to climb 1.7%, coming back from a hefty fall on Friday.


Australia's S&P/ASX 200 rose 1%, and South Korea's Kospi was up 0.3%.


China was mixed, with Hong Kong's Hang Seng Index up 0.5%, and the Shanghai Composite 0.3% lower.


China Construction Bank (CICHY) rose 0.9% in Hong Kong after China's second-largest bank by profits posted third-quarter net profit that came out slightly below market expectations.


China Life Insurance Co. (LFC) rose 2.2% after China's largest life insurer by premiums reported that it had made a 7.5 billion yuan ($1.2 billion) profit in the third quarter, reversing a 2.2 billion yuan loss in the same period last year.


Also in Hong Kong, Chong Hing Bank sank 7.5% after Chinese conglomerate Yuexiu Enterprises said on Friday it will acquire a majority stake in the Hong Kong lender for $1.5 billion -- the first local-bank sale in several years.


In Tokyo, telecoms firm KDDI Corp. (KDDIF) rose 2.2% after a Nikkei report said that the firm will likely report a record first-half group operating profit, with a 50% on-year increase. TDK Corp. (TTDKF), however, dropped 0.5% after a separate Nikkei report said that the electronics-component producer will report an 8% increase in operating profit over the same period.


Also in Japan, Mizuho Financial Group (MFG) rose 1.5%, after weekend media reports said that its Mizuho Bank unit will reprimand 54 current and former staff for failing to take responsibility for loans to borrowers associated with organized crime.

-Daniel Inman; 415-439-6400; AskNewswires@dowjones.com


Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

10-28-13 0035ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
Add a Comment

News   More...

Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar

Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - - UPDATE: Asia stocks higher after recent declines
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: UPDATE: Asia stocks get support from China, U.S. data  |  Next: UPDATE: Asia stocks higher on positive U.S., Europe data