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After a roller-coaster October, Asian stocks markets started November with widespread gains.
Japan was the notable exception, with the Nikkei
NIK -1.10%
down 0.5% amidst caution over U.S. trade policies and the upcoming midterm elections. The telecom sector fell 6.3%, by far the worst among Topix sectors, after NTT DoCoMo said it would cut mobile service charges. NTT DoCoMo
9437, -14.11%
was down 11% while fellow telecom KDDI
9433, -16.70%
dropped 15% and SoftBank Group
9984, -8.53%
sank 6.9%. Panasonic
6752, -5.88%
was also sharply down.
Meanwhile, Chinese stocks surged Thursday, with Hong Kong Hang Seng Index
HSI, + 1.95%
jumping 1.4%. Apple Inc.
AAPL, + 2.61%
suppliers Sunny Optical
2382 + 8.09%
and AAC Tech
2018 + 6.71%
, rose 3.6% and 3.8%, respectively, a day after Apple unveiled new computers and iPads. Country Garden
2007 + 8.70%
and China Overseas Land
0688, + 5.09%
rose 8% and 3.2%, respectively, after what UOB Kay Hian analyst Ip called an upbeat assessment on mainland China's construction recovery from yesterday's PMI reading. Among the losers, CLP Holdings
0002, -1.82%
was down 1.3% and Power Assets
0006, -1.15%
slipped 1.1%.
Mainland China benchmarks continue higher, as the latest Politburo meeting called for "healthy development" of the capital market, with Shanghai Composite
SHCOMP, + 0.93%
gaining 1.1%. The smaller-cap Shenzhen Composite
399,106, + 2.06%
was up 1.5%, following its seventh straight monthly decline. Some AI-related names popped, boosted by Xi Jinping's pep talk, while infrastructure stocks outperformed the boarder market.
Australia's ASX 200
XJO, + 0.18%
rose 0.3%, as BHP Billiton
BHP, + 2.79%
rose after announcing a plan to give $ 10.4 trillion from its shale to investors via an exclusive split buyback and special dividend. Stocks in New Zealand
NZ50GR, + 1.05%
rose as well.
Taiwan's Taiex
Y9999, + 0.34%
GDP grew 2.28% year-over-year, slower than the previous quarter's 3.3% expansion. Benchmark indexes in South Korea
SEU, + 0.46%
, Singapore
ITS + 1.22%
and Malaysia
FBMKLCI, -0.24%
all posted solid gains.
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