Asia Markets Archives | Email alerts

Aug. 30, 2012, 5:40 a.m. EDT

Asia stocks fall on data, commodities, earnings

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    NIKKEI 225 Index (NIK)
  • X
    KOSPI Composite Index (180721)
  • X
    S&P/ASX 200 Benchmark Index (XJO)

or Cancel Already have a watchlist? Log In

By Sarah Turner and Chris Oliver, MarketWatch

HONG KONG (MarketWatch) — Asian markets ended sharply lower Thursday, as weak data, declining commodity prices and poorly received earnings put pressure on major markets a day ahead of a much-awaited speech from U.S. Federal Reserve Chairman Ben Bernanke.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +1.32%  fell 1%, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.29%  lost 1.2%, and Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO -0.21%  fell 0.9%.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +1.04%  finished 1.2% lower, its lowest closing level since late July 27.

Among the few upbeat markets, the Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 +0.79%  ended little changed, recouping from losses, after closing at a fresh three-and-a-half year low on Wednesday.

Indonesia’s Composite Index retreated 2%, while India’s Sensex was down 0.3% late.

The Asia Dow was off 0.8%.

Piper Jaffray sales trader Andrew Sullivan in Hong Kong said the weak tone was global, with U.S. futures indicating a softer opening when regular trading gets underway later in the trading day.

“Expectations for anything dramatic from Jackson Hole [are] obviously receding,” Sullivan wrote in a note Thursday, referring to a speech due to be delivered Friday by Bernanke at an annual gathering of central bankers in Jackson Hole, Wyo.

The losses in Asia contrasted with mild gains for Wall Street stocks Wednesday after the Federal Reserve’s Beige Book reported gradual U.S. economic expansion. Read more on Beige Book.

Click to Play

Burgundy unwelcoming to buyer

As China's interest in wine has soared in recent years, mainland Chinese investors have snapped up several French vineyards. But the sale of a small Burgundy property to a Chinese millionaire is causing a storm in France.

Perpetual strategist Matthew Sherwood also said investors may be disappointed by Bernanke’s speech.

“It is unlikely that the Fed chairman will announce anything in his talk, and with the U.S. fiscal cliff approaching, it would probably be wiser to hold onto whatever policy ammunition he has left, for when the growth battle arrives, instead of firing your weapon before the enemy has arrived,” he said.

Weighing on Japanese shares Thursday were weaker retail data, showing overall retail sales turning negative in July with a 0.8% drop from a year earlier, the first such fall since November. Sales for the large retailers plunged 4.4%, accelerating a recent downward trend. Read more on Japan retail sales data.

Retailers fell in Tokyo after the data, with J. Front Retailing Co. /zigman2/quotes/209287176/delayed JP:3086 +6.61% , down 2%; Fast Retailing Co. /zigman2/quotes/200663563/delayed JP:9983 +1.00%   /zigman2/quotes/208569095/delayed FRCOF +0.25% , lower by 1.4%; and Seven & I Holdings Co. /zigman2/quotes/207666111/delayed JP:3382 +2.08%   /zigman2/quotes/203868267/delayed SVNDF -1.40% , retreating 2%.

Mining and metals

Meanwhile, declining commodity prices helped take steel-mill shares lower in Japan, even in the face of another steep drop in iron-ore prices to just above $90 a tonne.

Nippon Steel Corp. /zigman2/quotes/209782682/delayed JP:5401 +2.98%   /zigman2/quotes/203679980/delayed NISTF -10.67%  fell 3.6%, Kobe Steel Ltd. /zigman2/quotes/207391157/delayed JP:5406 +3.52%   lost 1.6% and JFE Holdings Inc. /zigman2/quotes/204336633/delayed JP:5411 +2.33%   /zigman2/quotes/203557603/delayed JFEEF -9.76%  retreated by 2.8%.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
23,511.62
+307.00 +1.32%
Volume: 0.00
Sept. 28, 2020 3:15p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,308.08
+29.29 +1.29%
Volume: 605,977
Sept. 28, 2020 3:32p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,952.30
-12.60 -0.21%
Volume: 579,880
Sept. 28, 2020 5:34p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,476.05
+240.63 +1.04%
Volume: 1.45M
Sept. 28, 2020 4:08p
loading...
/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.31
+0.12 +0.79%
Volume: 61.27M
Sept. 28, 2020 3:00p
P/E Ratio
11.95
Dividend Yield
1.42%
Market Cap
¥294.78 billion
Rev. per Employee
¥6.12M
loading...
/zigman2/quotes/209287176/delayed
JP : Japan: Tokyo
¥ 710.00
+44.00 +6.61%
Volume: 2.64M
Sept. 28, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
3.80%
Market Cap
¥174.38 billion
Rev. per Employee
¥68.57M
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 65,450.00
+650.00 +1.00%
Volume: 474,800
Sept. 28, 2020 3:00p
P/E Ratio
70.79
Dividend Yield
0.73%
Market Cap
¥6615.66 billion
Rev. per Employee
¥40.83M
loading...
/zigman2/quotes/208569095/delayed
US : U.S.: OTC
$ 606.00
+1.50 +0.25%
Volume: 11.00
Sept. 25, 2020 9:36a
P/E Ratio
71.19
Dividend Yield
N/A
Market Cap
$62.62 billion
Rev. per Employee
$369,206
loading...
/zigman2/quotes/207666111/delayed
JP : Japan: Tokyo
¥ 3,383.00
+69.00 +2.08%
Volume: 2.39M
Sept. 28, 2020 3:00p
P/E Ratio
16.60
Dividend Yield
2.91%
Market Cap
¥2925.91 billion
Rev. per Employee
¥117.13M
loading...
/zigman2/quotes/203868267/delayed
US : U.S.: OTC
$ 31.03
-0.44 -1.40%
Volume: 51.00
Sept. 25, 2020 5:20p
P/E Ratio
16.48
Dividend Yield
N/A
Market Cap
$27.70 billion
Rev. per Employee
$1.06M
loading...
/zigman2/quotes/209782682/delayed
JP : Japan: Tokyo
¥ 1,017.50
+29.40 +2.98%
Volume: 5.23M
Sept. 28, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥909.72 billion
Rev. per Employee
¥64.38M
loading...
/zigman2/quotes/203679980/delayed
US : U.S.: OTC
$ 8.29
-0.99 -10.67%
Volume: 0.00
Sept. 21, 2020 5:20p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.83 billion
Rev. per Employee
$582,908
loading...
/zigman2/quotes/207391157/delayed
JP : Japan: Tokyo
¥ 412.00
+14.00 +3.52%
Volume: 3.57M
Sept. 28, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥144.35 billion
Rev. per Employee
¥52.09M
loading...
/zigman2/quotes/204336633/delayed
JP : Japan: Tokyo
¥ 748.00
+17.00 +2.33%
Volume: 3.76M
Sept. 28, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥420.94 billion
Rev. per Employee
¥64.46M
loading...
/zigman2/quotes/203557603/delayed
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...
1 2
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.