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Dec. 14, 2011, 3:10 a.m. EST

Asia shares end mostly lower after Fed meeting

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By V. Phani Kumar and Sarah Turner, MarketWatch

HONG KONG (MarketWatch) — Most Asian markets fell Wednesday as belied hopes that the U.S. Federal Reserve would signal another round of asset purchases and concern about the fallout from European debt troubles kept buyers away.

Many regional markets flirted with positive territory during the session after a string of recent declines, but they couldn’t hold on to the gains.

“The markets have already factored in a lot of negative news. ... In the absence of a liquidity push, the market is unlikely to have a strong rebound,” said Ben Kwong, chief operating officer at KGI Asia.

He said stock trading volumes were low and investors were staying on the sidelines amid “continued repatriation of funds back to European countries.”

Click to Play

Economists see U.S. uptick

WSJ's Conor Dougherty has details of a series of optimistic reports from economists that point to better economic performance in 2012.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +0.18%  finished the day 0.4% lower at 8,519.13 and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.32%  dropped 0.1% to 4,190.50.

Taiwan’s Taiex rose 0.4% to 6,922.57 and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.26%  shed 0.3% to 1,857.75.

China’s Shanghai Composite /zigman2/quotes/206600939/delayed CN:000001 +3.21%  ended 0.9% lower at 2,228.53, racking up a fifth day of losses, while the Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.47% dropped 0.5% to 18,354.43.

Financials were mixed in Hong Kong, with shares of AIA Group Ltd. /zigman2/quotes/205179901/composite AAGIY +0.63% /zigman2/quotes/203565558/delayed HK:1299 +1.20%  rising 0.6% and Bank of China Ltd. /zigman2/quotes/204682472/delayed HK:3988 +0.40% /zigman2/quotes/201568493/composite BACHY -0.25%  gaining 0.4%, while heavyweight HSBC Holdings PLC /zigman2/quotes/202687335/delayed HK:5 +0.16% declined 1.8%.

But resource-sector stocks mostly declined in Hong Kong as well as Shanghai, tracking weak metals prices.

/zigman2/quotes/208051344/composite ACH 5.79, -0.01, -0.17%

Aluminum Corp. of China /zigman2/quotes/208051344/composite ACH -0.17% /zigman2/quotes/210453246/delayed CN:601600 +2.98% , or Chalco, shed 3%, Jiangxi Copper Co. /zigman2/quotes/204256025/composite JIXAY +37.29% /zigman2/quotes/201334192/delayed CN:600362 +6.67% fell 1.7% and Zhongjin Gold Corp. /zigman2/quotes/207741711/delayed CN:600489 +1.89%  shed 2.4% in Shanghai; in Hong Kong, Chalco /zigman2/quotes/202960704/delayed HK:2600 0.00%  lost 3.1% and Jiangxi /zigman2/quotes/201668148/delayed HK:358 +2.02%  fell 1.4%.

In Tokyo, JFE Holdings Inc. /zigman2/quotes/203557603/composite JFEEF -9.76% /zigman2/quotes/204336633/delayed JP:5411 -0.74%  fell 0.9% and Mitsui Mining & Smelting Co. /zigman2/quotes/208540098/delayed JP:5706 -0.07%  shed 1.4%.

In Sydney, Alumina Ltd. /zigman2/quotes/210515632/delayed AU:AWC +2.05%  dropped 0.8% and Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM +0.18% /zigman2/quotes/203286036/composite NCMGY -1.17% gave up 1.2%.

Shares of Olympus Corp. /zigman2/quotes/206207642/composite OCPNY +0.25% /zigman2/quotes/200860615/delayed JP:7733 +0.19%  fell 4.1% in Tokyo after the company submitted corrected earnings reports for the past five financial years, after admitting to an accounting scandal.

The day’s losses came after the U.S. Federal Reserve Tuesday didn’t signal that it would launch another round of asset purchases, prompting a retreat for stocks on Wall Street. Read more on U.S. stock markets.

Weaker-than-expected U.S. retail sales also damped sentiment, while Europe’s debt troubles and the potential impact on global economic growth are an ongoing concern for investors.

In Japan, shares of exporters continued to weaken on the global-demand outlook, with Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 +0.89% /zigman2/quotes/207173990/composite HMC -0.84% dropping 2.2% and Komatsu Ltd. /zigman2/quotes/204002437/delayed JP:6301 +0.77% /zigman2/quotes/206435044/composite KMTUF +0.14% shedding 1.3%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,360.30
+40.93 +0.18%
Volume: 0.00
Sept. 18, 2020 3:15p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,864.50
-18.70 -0.32%
Volume: 1.51M
Sept. 18, 2020 5:05p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,412.40
+6.23 +0.26%
Volume: 756,516
Sept. 18, 2020 3:32p
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 16.07
+0.50 +3.21%
Volume: 137.32M
Sept. 18, 2020 3:00p
P/E Ratio
12.54
Dividend Yield
1.36%
Market Cap
¥311.85 billion
Rev. per Employee
¥6.12M
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,455.41
+114.56 +0.47%
Volume: 2.30M
Sept. 18, 2020 4:09p
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/zigman2/quotes/205179901/composite
US : U.S.: OTC
$ 41.43
+0.26 +0.63%
Volume: 149,859
Sept. 18, 2020 3:59p
P/E Ratio
25.11
Dividend Yield
1.47%
Market Cap
$124.53 billion
Rev. per Employee
$1.66M
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/zigman2/quotes/203565558/delayed
HK : Hong Kong
HK$ 80.00
+0.95 +1.20%
Volume: 19.50M
Sept. 18, 2020 4:09p
P/E Ratio
24.87
Dividend Yield
1.60%
Market Cap
HK$965.13 billion
Rev. per Employee
HK$12.98M
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/zigman2/quotes/204682472/delayed
HK : Hong Kong
HK$ 2.51
+0.01 +0.40%
Volume: 462.07M
Sept. 18, 2020 4:09p
P/E Ratio
3.83
Dividend Yield
8.34%
Market Cap
HK$992.86 billion
Rev. per Employee
HK$3.13M
loading...
/zigman2/quotes/201568493/composite
US : U.S.: OTC
$ 8.03
-0.02 -0.25%
Volume: 60,963
Sept. 18, 2020 3:53p
P/E Ratio
3.47
Dividend Yield
6.95%
Market Cap
$128.11 billion
Rev. per Employee
$399,878
loading...
/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 30.95
+0.05 +0.16%
Volume: 34.26M
Sept. 18, 2020 4:09p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$621.91 billion
Rev. per Employee
HK$2.88M
loading...
/zigman2/quotes/208051344/composite
US : U.S.: NYSE
$ 5.79
-0.01 -0.17%
Volume: 69,354
Sept. 18, 2020 4:00p
P/E Ratio
153.17
Dividend Yield
N/A
Market Cap
$6.93 billion
Rev. per Employee
$387,394
loading...
/zigman2/quotes/210453246/delayed
CN : China: Shanghai
¥ 3.11
+0.09 +2.98%
Volume: 67.49M
Sept. 18, 2020 3:00p
P/E Ratio
293.40
Dividend Yield
0.37%
Market Cap
¥46.87 billion
Rev. per Employee
¥2.53M
loading...
/zigman2/quotes/204256025/composite
US : U.S.: OTC
$ 52.17
+14.17 +37.29%
Volume: 10.00
Sept. 18, 2020 5:20p
P/E Ratio
16.64
Dividend Yield
0.93%
Market Cap
$6.62 billion
Rev. per Employee
$1.55M
loading...
/zigman2/quotes/201334192/delayed
CN : China: Shanghai
¥ 15.99
+1.00 +6.67%
Volume: 34.85M
Sept. 18, 2020 3:00p
P/E Ratio
28.97
Dividend Yield
0.63%
Market Cap
¥44.78 billion
Rev. per Employee
¥10.12M
loading...
/zigman2/quotes/207741711/delayed
CN : China: Shanghai
¥ 10.80
+0.20 +1.89%
Volume: 37.95M
Sept. 18, 2020 3:00p
P/E Ratio
70.40
Dividend Yield
0.18%
Market Cap
¥52.35 billion
Rev. per Employee
¥1.20M
loading...
/zigman2/quotes/202960704/delayed
HK : Hong Kong
HK$ 1.80
0.00 0.00%
Volume: 18.72M
Sept. 18, 2020 4:09p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
HK$53.74 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/201668148/delayed
HK : Hong Kong
HK$ 9.58
+0.19 +2.02%
Volume: 9.38M
Sept. 18, 2020 4:09p
P/E Ratio
16.50
Dividend Yield
1.14%
Market Cap
HK$51.34 billion
Rev. per Employee
HK$12.12M
loading...
/zigman2/quotes/203557603/composite
US : U.S.: OTC
$ 6.61
-0.72 -9.76%
Volume: 0.00
Sept. 15, 2020 5:20p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.73 billion
Rev. per Employee
$583,723
loading...
/zigman2/quotes/204336633/delayed
JP : Japan: Tokyo
¥ 804.00
-6.00 -0.74%
Volume: 3.16M
Sept. 18, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥462.97 billion
Rev. per Employee
¥64.46M
loading...
/zigman2/quotes/208540098/delayed
JP : Japan: Tokyo
¥ 2,690.00
-2.00 -0.07%
Volume: 444,900
Sept. 18, 2020 3:00p
P/E Ratio
15.22
Dividend Yield
2.60%
Market Cap
¥153.62 billion
Rev. per Employee
¥42.23M
loading...
/zigman2/quotes/210515632/delayed
AU : Australia: Sydney
$ 1.49
+0.03 +2.05%
Volume: 22.98M
Sept. 18, 2020 4:10p
P/E Ratio
30.10
Dividend Yield
6.28%
Market Cap
$4.29 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 32.81
+0.06 +0.18%
Volume: 9.01M
Sept. 18, 2020 4:10p
P/E Ratio
26.31
Dividend Yield
0.74%
Market Cap
$26.70 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203286036/composite
US : U.S.: OTC
$ 23.75
-0.28 -1.17%
Volume: 36,900
Sept. 18, 2020 3:59p
P/E Ratio
28.60
Dividend Yield
0.93%
Market Cap
$19.51 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206207642/composite
US : U.S.: OTC
$ 20.37
+0.05 +0.25%
Volume: 209,475
Sept. 18, 2020 3:59p
P/E Ratio
71.07
Dividend Yield
N/A
Market Cap
$26.16 billion
Rev. per Employee
$200,545
loading...
/zigman2/quotes/200860615/delayed
JP : Japan: Tokyo
¥ 2,123.00
+4.00 +0.19%
Volume: 3.37M
Sept. 18, 2020 3:00p
P/E Ratio
68.72
Dividend Yield
0.94%
Market Cap
¥2729.30 billion
Rev. per Employee
¥22.14M
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,613.00
+23.00 +0.89%
Volume: 6.96M
Sept. 18, 2020 3:00p
P/E Ratio
22.88
Dividend Yield
1.68%
Market Cap
¥4511.73 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 24.72
-0.21 -0.84%
Volume: 779,010
Sept. 18, 2020 4:00p
P/E Ratio
23.33
Dividend Yield
2.95%
Market Cap
$43.25 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/204002437/delayed
JP : Japan: Tokyo
¥ 2,413.00
+18.50 +0.77%
Volume: 3.12M
Sept. 18, 2020 3:00p
P/E Ratio
18.60
Dividend Yield
1.49%
Market Cap
¥2280.20 billion
Rev. per Employee
¥45.51M
loading...
/zigman2/quotes/206435044/composite
US : U.S.: OTC
$ 22.23
+0.03 +0.14%
Volume: 0.00
Sept. 16, 2020 5:20p
P/E Ratio
18.52
Dividend Yield
N/A
Market Cap
$21.23 billion
Rev. per Employee
$412,180
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Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Sarah Turner is MarketWatch's bureau chief in Sydney.

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