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Investor Alert

July 2, 2010, 6:26 a.m. EDT

Asian markets mixed; Tokyo, Sydney snap losing streak

Energy and mining equities on the defensive as Chalco drops in Hong Kong

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By V. Phani Kumar, Colin Ng and Wei-Zhe Tan

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Santos /zigman2/quotes/207349564/delayed AU:STO -1.47% lost 1.1% and Woodside Petroleum /zigman2/quotes/203437212/delayed AU:WPL -1.73% /zigman2/quotes/206334215/composite WOPEY -1.18% shed 2.2% in Sydney, while Cnooc Ltd. /zigman2/quotes/204964401/composite CEO +0.61% /zigman2/quotes/203421416/delayed HK:883 -1.93% tumbled 3.3% and China Petroleum & Chemical Corp., also known as Sinopec /zigman2/quotes/202783176/composite SNP +1.28% /zigman2/quotes/202085942/delayed HK:386 -0.28% , gave up 2.2% in Hong Kong, and Cairn India fell 0.3% in Mumbai trading.

Most gold producers also sustained losses. Gold prices fell Thursday and as lingering concerns weighed over slowing global demand after weaker-than-expected economic data out of the U.S. and China recently.

Shares of Zhongjin Gold /zigman2/quotes/207741711/delayed CN:600489 -1.07% tumbled 4.9% and Shandong Gold-Mining /zigman2/quotes/200150484/delayed CN:600547 +0.16% sank 4.6% in Shanghai, with Zijin Mining Group /zigman2/quotes/203833875/delayed CN:601899 -1.31% /zigman2/quotes/209836076/composite ZIJMF +1.20% skidding 3.2% in Hong Kong, Newcrest Mining /zigman2/quotes/203840223/delayed AU:NCM +2.62% /zigman2/quotes/203286036/composite NCMGY +2.75% losing 3.2% in Sydney and Sumitomo Metal Mining /zigman2/quotes/205273301/delayed JP:5713 +0.30% shedding 0.9% in Tokyo.

August Nymex crude-oil futures moved up 21 cents at $73.16 a barrel. Spot gold was at $1,211.80 per troy ounce, up $12.40 from late dealings Thursday in New York.

CUR_EURYEN

Also lower, shares of Aluminum Corp. of China /zigman2/quotes/202960704/delayed HK:2600 -0.69% /zigman2/quotes/208051344/composite ACH +0.42% fell 3.2% in Hong Kong after announcing the termination of a planned bauxite-mine investment in Australia due to "various unfavorable factors" and on reports it had cut alumina spot prices by 7%.

In Seoul, shipbuilders and steelmakers advanced although broad market demand was subdued.

Posco /zigman2/quotes/209201002/composite PKX -1.26% rose 1.3% and Hyundai Heavy Industries Co. added 3% on bargain-hunting after recent losses. Samsung Heavy Industries added 2.4% after winning a 1.27 trillion-won ($1.03 billion) order to build 10 container ships in Asia.

However, GS Engineering tumbled 4.4% on news its 1.42 trillion-won South Pars gas plant project in Iran had been cancelled due to sanctions by the United Nations against Teheran.

Buyers test the Tokyo waters

Japanese stocks inched higher as bargain buyers scooped up exporters that had recently been heavily sold. The buying was fueled by the U.S. dollar's rise from Thursday.

"It's not that worries about a strong yen have abated, but current share prices are attractive," said Yoshinori Nagano, senior strategist at Daiwa Asset Management.

Shares of Canon /zigman2/quotes/210242912/composite CAJ -3.66% /zigman2/quotes/207639533/delayed JP:7751 -3.90% rose 1.1%, helped also by Mizuho Securities' upgrade to outperform from a neutral rating previously, while Kyocera /zigman2/quotes/204880749/delayed JP:6971 -1.80% added 0.9% and Sony /zigman2/quotes/208567357/composite SNE +0.28% /zigman2/quotes/201361720/delayed JP:6758 -0.15% rose 0.6%.

1804610

Toshiba /zigman2/quotes/204149068/composite TOSYY -1.83% /zigman2/quotes/205628942/delayed JP:6502 -2.19% gained 1.6%, rising as the company said that it's jointly developing car battery systems with Mitsubishi Motors /zigman2/quotes/202404490/delayed JP:7211 -8.98% /zigman2/quotes/200876874/composite MMTOF -3.23% , and that it hopes to eventually supply rechargeable lithium-ion batteries for use in the auto maker's electric cars. Mitsubishi shares ended unchanged.

Elsewhere in the region, New Zealand's NZX 50 gained 0.2% and Philippine stocks ended 0.7% lower. Singapore's Straits Times Index added 0.6%, Indonesian shares fell 0.3% and Thailand's SET Index advanced 0.3%.

In foreign-exchange markets, the euro was confined to a range against the U.S. dollar, as traders avoided large positions ahead of the numbers on nonfarm payrolls.

The euro was at $1.2501 compared with $1.2514 in late New York trading Thursday and at 110.15 Japanese yen, from 109.58 yen. The dollar was at 87.97 yen from 87.56 yen.

"Recently, markets have found it hard to decide whether to sell the [U.S. dollar] due to weaker economic data or buy it on higher risk aversion," said Credit Agricole Corporate & Investment Bank in a note.

Credit Agricole said weak recent data -- including Thursday's U.S. pending-home sales, the Institute for Supply Management's June manufacturing index and weekly jobless claims -- have weighed on the greenback. "The news will probably get much worse today, with the release of the U.S. June jobs report set to deliver further disappointment," it added.

Lead September Japanese government bond futures contract fell 0.28 to 141.60 points, while the 10-year cash JGBs were three basis points higher at 1.090%.

/zigman2/quotes/207349564/delayed
AU : Australia: Sydney
$ 5.36
-0.08 -1.47%
Volume: 2,000
May 29, 2020 4:10p
P/E Ratio
11.63
Dividend Yield
3.07%
Market Cap
$11.14 billion
Rev. per Employee
$2.29M
loading...
/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 22.67
-0.40 -1.73%
Volume: 6.73M
May 29, 2020 4:10p
P/E Ratio
43.86
Dividend Yield
6.02%
Market Cap
$21.59 billion
Rev. per Employee
$1.92M
loading...
/zigman2/quotes/206334215/composite
US : U.S.: OTC
$ 15.09
-0.18 -1.18%
Volume: 31,418
May 29, 2020 3:46p
P/E Ratio
40.91
Dividend Yield
5.77%
Market Cap
$14.33 billion
Rev. per Employee
$1.43M
loading...
/zigman2/quotes/204964401/composite
US : U.S.: NYSE
$ 114.12
+0.69 +0.61%
Volume: 92,163
May 29, 2020 4:00p
P/E Ratio
5.77
Dividend Yield
7.86%
Market Cap
$50.95 billion
Rev. per Employee
$1.78M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 8.63
-0.17 -1.93%
Volume: 121.30M
May 29, 2020 4:08p
P/E Ratio
5.56
Dividend Yield
9.04%
Market Cap
HK$385.31 billion
Rev. per Employee
HK$13.96M
loading...
/zigman2/quotes/202783176/composite
US : U.S.: NYSE
$ 47.53
+0.60 +1.28%
Volume: 306,272
May 29, 2020 4:00p
P/E Ratio
8.50
Dividend Yield
8.24%
Market Cap
N/A
Rev. per Employee
$975,922
loading...
/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 3.59
-0.01 -0.28%
Volume: 321.10M
May 29, 2020 4:08p
P/E Ratio
16.70
Dividend Yield
9.37%
Market Cap
HK$434.65 billion
Rev. per Employee
HK$7.40M
loading...
/zigman2/quotes/207741711/delayed
CN : China: Shanghai
¥ 9.28
-0.10 -1.07%
Volume: 57.75M
May 29, 2020 3:00p
P/E Ratio
237.95
Dividend Yield
0.22%
Market Cap
¥43.08 billion
Rev. per Employee
¥1.20M
loading...
/zigman2/quotes/200150484/delayed
CN : China: Shanghai
¥ 37.10
+0.06 +0.16%
Volume: 19.50M
May 29, 2020 3:00p
P/E Ratio
74.56
Dividend Yield
0.27%
Market Cap
¥115.00 billion
Rev. per Employee
¥3.45M
loading...
/zigman2/quotes/203833875/delayed
CN : China: Shanghai
¥ 3.78
-0.05 -1.31%
Volume: 148.43M
May 29, 2020 3:00p
P/E Ratio
20.22
Dividend Yield
2.65%
Market Cap
¥95.93 billion
Rev. per Employee
¥5.78M
loading...
/zigman2/quotes/209836076/composite
US : U.S.: OTC
$ 0.42
+0.0050 +1.20%
Volume: 5,000
May 29, 2020 2:39p
P/E Ratio
15.67
Dividend Yield
N/A
Market Cap
$10.66 billion
Rev. per Employee
$872,997
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 30.58
+0.78 +2.62%
Volume: 9.17M
May 29, 2020 4:10p
P/E Ratio
29.36
Dividend Yield
1.07%
Market Cap
$24.66 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203286036/composite
US : U.S.: OTC
$ 20.43
+0.55 +2.75%
Volume: 91,199
May 29, 2020 3:57p
P/E Ratio
28.10
Dividend Yield
0.95%
Market Cap
$16.37 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205273301/delayed
JP : Japan: Tokyo
¥ 3,001.00
+9.00 +0.30%
Volume: 2.57M
May 29, 2020 3:00p
P/E Ratio
13.61
Dividend Yield
2.40%
Market Cap
¥824.62 billion
Rev. per Employee
¥134.46M
loading...
/zigman2/quotes/202960704/delayed
HK : Hong Kong
HK$ 1.43
-0.01 -0.69%
Volume: 34.11M
May 29, 2020 4:08p
P/E Ratio
33.41
Dividend Yield
N/A
Market Cap
HK$24.34 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/208051344/composite
US : U.S.: NYSE
$ 4.77
+0.02 +0.42%
Volume: 83,272
May 29, 2020 4:00p
P/E Ratio
51.35
Dividend Yield
N/A
Market Cap
$752.51 million
Rev. per Employee
$387,394
loading...
/zigman2/quotes/209201002/composite
US : U.S.: NYSE
$ 36.91
-0.47 -1.26%
Volume: 532,855
May 29, 2020 4:00p
P/E Ratio
9.43
Dividend Yield
3.64%
Market Cap
$11.83 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210242912/composite
US : U.S.: NYSE
$ 20.53
-0.78 -3.66%
Volume: 676,945
May 29, 2020 4:00p
P/E Ratio
20.57
Dividend Yield
6.15%
Market Cap
$21.47 billion
Rev. per Employee
$180,925
loading...
/zigman2/quotes/207639533/delayed
JP : Japan: Tokyo
¥ 2,219.00
-90.00 -3.90%
Volume: 11.47M
May 29, 2020 3:00p
P/E Ratio
20.44
Dividend Yield
7.21%
Market Cap
¥2320.50 billion
Rev. per Employee
¥19.98M
loading...
/zigman2/quotes/204880749/delayed
JP : Japan: Tokyo
¥ 5,831.00
-107.00 -1.80%
Volume: 3.35M
May 29, 2020 3:00p
P/E Ratio
19.62
Dividend Yield
2.06%
Market Cap
¥2113.34 billion
Rev. per Employee
¥21.68M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 64.76
+0.18 +0.28%
Volume: 1.18M
May 29, 2020 4:00p
P/E Ratio
15.26
Dividend Yield
0.41%
Market Cap
$78.65 billion
Rev. per Employee
$654,652
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 6,874.00
-10.00 -0.15%
Volume: 9.67M
May 29, 2020 3:00p
P/E Ratio
14.92
Dividend Yield
0.65%
Market Cap
¥8387.39 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/204149068/composite
US : U.S.: OTC
$ 13.67
-0.26 -1.83%
Volume: 4,405
May 29, 2020 3:45p
P/E Ratio
N/A
Dividend Yield
0.47%
Market Cap
$12.39 billion
Rev. per Employee
$243,606
loading...
/zigman2/quotes/205628942/delayed
JP : Japan: Tokyo
¥ 2,944.00
-66.00 -2.19%
Volume: 1.99M
May 29, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.68%
Market Cap
¥1335.35 billion
Rev. per Employee
¥26.86M
loading...
/zigman2/quotes/202404490/delayed
JP : Japan: Tokyo
¥ 304.00
-30.00 -8.98%
Volume: 12.29M
May 29, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
3.29%
Market Cap
¥452.45 billion
Rev. per Employee
¥80.91M
loading...
/zigman2/quotes/200876874/composite
US : U.S.: OTC
$ 3.00
-0.10 -3.23%
Volume: 117.00
May 29, 2020 9:30a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.46 billion
Rev. per Employee
$733,027
loading...

Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau.

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