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Feb. 3, 2012, 3:40 a.m. EST

Tokyo, Seoul stocks drop, as Shanghai rises

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By Virginia Harrison and V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Japanese and South Korean shares lost ground Friday, as investors digested a raft of earnings reports and turned cautious ahead of a key U.S. employment report.

Chinese stocks managed to finish higher after a lower opening, with the property sector and some other laggards finding buyers ahead of the weekend.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.09% fell 0.5% to 8,831.93, Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO -0.34% shed 0.4% to 4,251.20 and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.45%  gave up 0.6% to 1,972.34.

China’s Shanghai Composite /zigman2/quotes/206600939/delayed CN:000001 -0.52%  gained 0.8% to 2,330.40, Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.22% rose 0.1% to 20,756.98 and Taiwan’s Taiex  rose 0.3% to 7,674.99.

“We are seeing some short-term consolidation from recent strength,” said Linus Yip, a strategist at First Shanghai Securities in Hong Kong. “Whether the market can extend the move higher is unclear. Markets have traded up without fundamental support, [although] there is some momentum because sentiment is relatively firm,” he said.

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Shares of Softbank Corp. /zigman2/quotes/207303954/delayed JP:9984 -0.30% /zigman2/quotes/202815238/delayed SFTBF +0.68%  fell 3.6% in Tokyo after its quarterly profit halved due to new competition in selling the Apple iPhone. Softbank previously enjoyed a monopoly. See report on Softbank earnings.

Rival KDDI Corp. /zigman2/quotes/204923990/delayed JP:9433 +0.28% /zigman2/quotes/209186068/delayed KDDIF -2.58% gave up 1.4%.

Yamaha Corp. /zigman2/quotes/210308144/delayed JP:7951 -1.14% /zigman2/quotes/207614400/delayed YAMCY +0.56% slumped 7% after it reported weak earnings.

Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 +1.41% /zigman2/quotes/208567357/composite SNE +0.98% , which Thursday reported a staggering $2.1 billion loss for the last quarter, rallied 8.1%, recouping recent losses. Read more on Sony’s quarterly loss.

Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 +1.55% /zigman2/quotes/200401218/delayed SHCAY +0.40% added 2.8% after posting weak quarterly results earlier in the week. Shares in Canon Inc. /zigman2/quotes/207639533/delayed JP:7751 -0.23% /zigman2/quotes/210242912/composite CAJ -0.57%   gained 2% after the firm announced a share buy-back.

Sumitomo Metal Industries Ltd.  lost 2.2% after forecasting a fiscal-year loss late Thursday. Fellow steel producer JFE Holdings Inc. /zigman2/quotes/204336633/delayed JP:5411 -1.41% /zigman2/quotes/203557603/delayed JFEEF -0.71%  gave up 1.9% and Nippon Steel Corp. /zigman2/quotes/209782682/delayed JP:5401 -0.54% /zigman2/quotes/203679980/delayed NISTF 0.00%   shed 1.1%.

In Hong Kong, Hutchison Whampoa Ltd. climbed 3.3% after announcing its cellular-telecom-services unit Hutchison 3G Austria will buy Orange Austria for about 1.3 billion euros ($1.71 billion). Read more about the Hutchison-Orange deal.

Chinese property shares advanced after Dow Jones Newswires reported land sales fell sharply in January as developers stopped purchases to preserve cash. In Hong Kong, Agile Property Holdings Ltd. /zigman2/quotes/210448079/delayed HK:3383 +0.18% /zigman2/quotes/200754284/delayed AGPYY 0.00%  rose 1.8%, while China Resources Land Ltd. /zigman2/quotes/209191868/delayed CRBJY +8.77% /zigman2/quotes/202417326/delayed HK:1109 0.00%  added 0.9%.

In Shanghai, shares of Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 -1.10%  rose 1.5% and Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 -0.45%  rising 1.1%.

In Seoul, shipbuilders declined after disappointing earnings reports from Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. Shares in Hyundai Heavy /zigman2/quotes/205142432/delayed HYHZF 0.00%  tumbled 7.7% while Samsung Heavy lost 3%.

Gold miners rose in Australia after Comex gold futures hit an 11-week high in New York trading. Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM -0.03%   /zigman2/quotes/203286036/delayed NCMGY -1.33%  and Perseus Mining Ltd. /zigman2/quotes/205179925/delayed AU:PRU -3.50%  each traded 1% firmer.

Shares of Zijin Mining Group Co. /zigman2/quotes/204517000/delayed HK:2899 +1.92% /zigman2/quotes/209836076/delayed ZIJMF +3.29% rose 1.6% in Hong Kong and 0.9% in Shanghai after the firm tipped a 20% increase in its fiscal year profit.

/zigman2/quotes/210597971/delayed
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JP : Nikkei
23,410.19
-20.51 -0.09%
Volume: 0.00
Dec. 10, 2019 3:15p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,706.90
-23.10 -0.34%
Volume: 473,104
Dec. 10, 2019 4:40p
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KR : Korea Exchange
2,098.00
+9.35 +0.45%
Volume: 500,064
Dec. 10, 2019 6:01p
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CN : China: Shenzhen
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¥264.60 billion
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HK : Hong Kong Exchange
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Volume: 956,293
Dec. 10, 2019 4:08p
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-13.00 -0.30%
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Dec. 10, 2019 3:00p
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¥8922.89 billion
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US : U.S.: OTC
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Dec. 9, 2019 3:10p
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N/A
Market Cap
$82.62 billion
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JP : Japan: Tokyo
¥ 3,200.00
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US : U.S.: OTC
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Dec. 9, 2019 5:20p
P/E Ratio
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Dividend Yield
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Market Cap
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JP : Japan: Tokyo
¥ 6,090.00
-70.00 -1.14%
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Market Cap
¥1098.67 billion
Rev. per Employee
¥21.66M
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US : U.S.: OTC
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P/E Ratio
26.18
Dividend Yield
0.73%
Market Cap
$10.12 billion
Rev. per Employee
$196,039
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,245.00
+101.00 +1.41%
Volume: 6.48M
Dec. 10, 2019 3:00p
P/E Ratio
10.87
Dividend Yield
0.55%
Market Cap
¥8789.88 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 65.93
+0.64 +0.98%
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P/E Ratio
10.95
Dividend Yield
0.35%
Market Cap
$81.12 billion
Rev. per Employee
$654,652
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,702.00
+26.00 +1.55%
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Dec. 10, 2019 3:00p
P/E Ratio
17.97
Dividend Yield
1.47%
Market Cap
¥1023.78 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/200401218/delayed
US : U.S.: OTC
$ 3.80
+0.02 +0.40%
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P/E Ratio
17.69
Dividend Yield
0.77%
Market Cap
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Rev. per Employee
$454,670
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/zigman2/quotes/207639533/delayed
JP : Japan: Tokyo
¥ 3,059.00
-7.00 -0.23%
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Dec. 10, 2019 3:00p
P/E Ratio
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Dividend Yield
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Market Cap
¥3261.71 billion
Rev. per Employee
¥19.98M
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/zigman2/quotes/210242912/composite
US : U.S.: NYSE
$ 28.14
-0.16 -0.57%
Volume: 161,871
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P/E Ratio
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Dividend Yield
4.52%
Market Cap
$29.94 billion
Rev. per Employee
$180,925
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/zigman2/quotes/204336633/delayed
JP : Japan: Tokyo
¥ 1,472.00
-21.00 -1.41%
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Dec. 10, 2019 3:00p
P/E Ratio
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Dividend Yield
2.04%
Market Cap
¥859.77 billion
Rev. per Employee
¥64.46M
loading...
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US : U.S.: OTC
$ 12.63
-0.09 -0.71%
Volume: 0.00
Nov. 26, 2019 5:19p
P/E Ratio
6.66
Dividend Yield
N/A
Market Cap
$7.93 billion
Rev. per Employee
$583,723
loading...
/zigman2/quotes/209782682/delayed
JP : Japan: Tokyo
¥ 1,737.00
-9.50 -0.54%
Volume: 4.18M
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P/E Ratio
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Dividend Yield
1.15%
Market Cap
¥1608.00 billion
Rev. per Employee
¥64.38M
loading...
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US : U.S.: OTC
$ 14.70
0.00 0.00%
Volume: 0.00
Nov. 27, 2019 5:19p
P/E Ratio
8.41
Dividend Yield
N/A
Market Cap
$14.78 billion
Rev. per Employee
$582,908
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HK : Hong Kong
HK$ 11.08
+0.02 +0.18%
Volume: 1.75M
Dec. 10, 2019 4:08p
P/E Ratio
4.44
Dividend Yield
9.93%
Market Cap
HK$43.32 billion
Rev. per Employee
HK$3.79M
loading...
/zigman2/quotes/200754284/delayed
US : U.S.: OTC
$ 62.89
0.00 0.00%
Volume: 0.00
Nov. 27, 2019 5:19p
P/E Ratio
3.96
Dividend Yield
11.00%
Market Cap
$5.53 billion
Rev. per Employee
$483,421
loading...
/zigman2/quotes/209191868/delayed
US : U.S.: OTC
$ 45.88
+3.70 +8.77%
Volume: 170.00
Dec. 9, 2019 10:54a
P/E Ratio
7.72
Dividend Yield
3.35%
Market Cap
$32.70 billion
Rev. per Employee
$388,804
loading...
/zigman2/quotes/202417326/delayed
HK : Hong Kong
HK$ 35.90
0.00 0.00%
Volume: 4.73M
Dec. 10, 2019 4:08p
P/E Ratio
7.71
Dividend Yield
3.50%
Market Cap
HK$256.00 billion
Rev. per Employee
HK$3.68M
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 12.58
-0.14 -1.10%
Volume: 22.40M
Dec. 10, 2019 3:00p
P/E Ratio
6.86
Dividend Yield
4.77%
Market Cap
¥57.43 billion
Rev. per Employee
¥7.89M
loading...
/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 15.47
-0.07 -0.45%
Volume: 55.70M
Dec. 10, 2019 3:01p
P/E Ratio
8.31
Dividend Yield
3.23%
Market Cap
¥185.41 billion
Rev. per Employee
¥3.42M
loading...
/zigman2/quotes/205142432/delayed
US : U.S.: OTC
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
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/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 28.76
-0.01 -0.03%
Volume: 1.92M
Dec. 10, 2019 4:10p
P/E Ratio
28.20
Dividend Yield
1.11%
Market Cap
$22.07 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203286036/delayed
US : U.S.: OTC
$ 19.69
-0.27 -1.33%
Volume: 0.00
Dec. 9, 2019 3:49p
P/E Ratio
27.03
Dividend Yield
0.99%
Market Cap
$15.07 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205179925/delayed
AU : Australia: Sydney
$ 0.97
-0.04 -3.50%
Volume: 4.19M
Dec. 10, 2019 4:10p
P/E Ratio
163.56
Dividend Yield
N/A
Market Cap
$1.17 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204517000/delayed
HK : Hong Kong
HK$ 3.18
+0.06 +1.92%
Volume: 64.42M
Dec. 10, 2019 4:08p
P/E Ratio
17.16
Dividend Yield
3.58%
Market Cap
HK$71.86 billion
Rev. per Employee
HK$6.84M
loading...
/zigman2/quotes/209836076/delayed
US : U.S.: OTC
$ 0.41
+0.01 +3.29%
Volume: 1,095
Dec. 9, 2019 12:47p
P/E Ratio
17.29
Dividend Yield
N/A
Market Cap
$9.40 billion
Rev. per Employee
$872,997
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Virginia Harrison is a MarketWatch reporter based in Sydney. Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau.

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