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April 18, 2013, 4:11 a.m. EDT

Sydney, Tokyo stocks sink; Shanghai edges up

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Most Asian markets declined Thursday as sentiment took hits from falling commodity prices and weak U.S. corporate results, with some technology stocks dropping after a sharp fall in Apple Inc. shares.

Hong Kong shares ended lower for a fifth straight session, although mainland Chinese stocks found a little support from economic data showing an improvement in foreign direct investment inflows and home prices.


Reuters

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.39%  and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.49% each ended 1.2% lower, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.33% tumbled 1.6%, Taiwan’s Taiex dropped 0.2% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.09% fell 0.3%.

“Once again, bottom-up views continue to miss analysts’ lofty expectations,” said IG Markets strategist Evan Lucas, referring to recent downbeat results, including from Dow industrial components Bank of America Corp. /zigman2/quotes/200894270/composite BAC -1.41%  on Wednesday and Intel Corp. /zigman2/quotes/203649727/composite INTC -1.70%  a day earlier.

China markets volatile

The Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 -0.06%  ended 0.2% higher after a choppy session in which the benchmark changed direction a few times amid a generally weak tone in regional markets.

Data released earlier in the day showed foreign direct investment flows into China rose to $12.4 billion in March, rising 5.7% from the year-ago period.

Property shares advanced in the wake of figures showing that new-home prices climbed in 68 of 70 top Chinese cities surveyed in March from levels seen in February, despite recent measures to further tighten policies on the property sector.

“The rolling out of property loan/price restrictions are clearly designed to take some of the froth out of the top end of the market, not intended to destroy the sector altogether,” said Annette Beacher, head of Asia-Pacific research at TD Securities.

Shares of China Overseas Land & Investment Ltd. /zigman2/quotes/202573805/delayed CAOVY -0.92% /zigman2/quotes/205731176/delayed HK:688 -2.34%  climbed 1.6%, and China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 -1.26%   /zigman2/quotes/201656413/delayed CRBJF +5.00%  gained 2.3% in Hong Kong, while China Vanke Co. rose 0.4% in Shenzhen.

The advance, however, contrasted with losses elsewhere in the region after a poor set of U.S. corporate earnings dragged on Wall Street overnight.

Several exporters and companies with a global exposure were pulled lower, with industrial-automation major Fanuc Corp. /zigman2/quotes/209410825/delayed FANUY -2.35% /zigman2/quotes/202054799/delayed JP:6954 -1.42%  losing 2.3%, and camera maker Nikon Corp. /zigman2/quotes/203281219/delayed JP:7731 -0.75%   /zigman2/quotes/209396469/delayed NINOY -1.13%  shedding 2.1% in Tokyo.

Shares of Prada S.p.A. /zigman2/quotes/200575701/delayed HK:1913 +1.06%   /zigman2/quotes/204689658/delayed PRDSY +0.45%  dropped 1.5% in Hong Kong, and Hyundai Motor Co. /zigman2/quotes/204364212/delayed HYMTF 0.00% /zigman2/quotes/206684590/delayed KR:005380 -1.54% shrank 2.1% in Seoul.

Click to Play

Apple breaks below $400

Apple shares fall below $400 for the first time since December 2011.

Resource stocks came under renewed selling pressure as crude-oil and metals lost further ground.

Heavyweight miner BHP Billiton Ltd. /zigman2/quotes/208108397/composite BHP -0.45% /zigman2/quotes/201448516/delayed AU:BHP -0.78%  tumbled 4.4% in Sydney, as gold miner Zijin Mining Group Co. /zigman2/quotes/204517000/delayed HK:2899 +1.31%   /zigman2/quotes/203833875/delayed CN:601899 +2.40%   /zigman2/quotes/209836076/delayed ZIJMF +4.95%  lost 1.8% in Hong Kong and 0.6% in Shanghai. Steel maker Posco /zigman2/quotes/209201002/composite PKX -1.53% /zigman2/quotes/201759282/delayed KR:005490 -1.86% gave up 1.4% in Seoul.

Some shares of technology firms in Apple’s /zigman2/quotes/202934861/composite AAPL -2.26%  supply-chain suffered broad losses after stock in the iPhone maker dropped below $400 overnight, following a tepid revenue outlook from the company’s chips supplier Cirrus Logic Inc. /zigman2/quotes/208789077/composite CRUS -1.97% .

LG Display Co. /zigman2/quotes/204466928/composite LPL -1.42%   /zigman2/quotes/204226570/delayed KR:034220 -1.95%  lost 4.8% in Seoul, and Hon Hai Precision Industry Co. /zigman2/quotes/207256514/delayed TW:2317 -1.33%  retreated 1.3% in Taipei, while mobile service provider Softbank Corp. /zigman2/quotes/207303954/delayed JP:9984 +2.40% /zigman2/quotes/202815238/delayed SFTBF +1.57%  lost 1.6% in Tokyo.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,386.74
-92.41 -0.39%
Volume: 0.00
Feb. 21, 2020 3:15p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,162.84
-32.66 -1.49%
Volume: 635,474
Feb. 21, 2020 3:33p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,139.00
-23.50 -0.33%
Volume: 1.07M
Feb. 21, 2020 5:17p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,308.81
-300.35 -1.09%
Volume: 1.77M
Feb. 21, 2020 4:08p
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/zigman2/quotes/200894270/composite
US : U.S.: NYSE
$ 34.36
-0.49 -1.41%
Volume: 46.68M
Feb. 21, 2020 6:30p
P/E Ratio
12.48
Dividend Yield
2.10%
Market Cap
$307.94 billion
Rev. per Employee
$543,289
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/zigman2/quotes/203649727/composite
US : U.S.: Nasdaq
$ 64.34
-1.11 -1.70%
Volume: 20.78M
Feb. 21, 2020 4:00p
P/E Ratio
13.63
Dividend Yield
2.05%
Market Cap
$279.93 billion
Rev. per Employee
$659,665
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.58
-0.01 -0.06%
Volume: 99.51M
Feb. 21, 2020 3:00p
P/E Ratio
11.14
Dividend Yield
1.40%
Market Cap
¥302.54 billion
Rev. per Employee
¥6.12M
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/zigman2/quotes/202573805/delayed
US : U.S.: OTC
$ 17.51
-0.16 -0.92%
Volume: 5,573
Feb. 21, 2020 3:04p
P/E Ratio
6.45
Dividend Yield
2.92%
Market Cap
$39.06 billion
Rev. per Employee
$3.93M
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/zigman2/quotes/205731176/delayed
HK : Hong Kong
HK$ 27.10
-0.65 -2.34%
Volume: 19.31M
Feb. 21, 2020 4:08p
P/E Ratio
6.37
Dividend Yield
3.51%
Market Cap
HK$304.04 billion
Rev. per Employee
HK$30.79M
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/zigman2/quotes/202417326/delayed
HK : Hong Kong
HK$ 35.15
-0.45 -1.26%
Volume: 11.74M
Feb. 21, 2020 4:08p
P/E Ratio
7.55
Dividend Yield
3.57%
Market Cap
HK$253.86 billion
Rev. per Employee
HK$3.68M
loading...
/zigman2/quotes/201656413/delayed
US : U.S.: OTC
$ 4.41
+0.21 +5.00%
Volume: 4,000
Feb. 20, 2020 5:20p
P/E Ratio
7.42
Dividend Yield
N/A
Market Cap
$31.45 billion
Rev. per Employee
$470,019
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/zigman2/quotes/209410825/delayed
US : U.S.: OTC
$ 17.90
-0.43 -2.35%
Volume: 156,571
Feb. 21, 2020 3:59p
P/E Ratio
45.98
Dividend Yield
1.96%
Market Cap
$35.05 billion
Rev. per Employee
$869,691
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/zigman2/quotes/202054799/delayed
JP : Japan: Tokyo
¥ 20,180.00
-290.00 -1.42%
Volume: 504,000
Feb. 21, 2020 3:00p
P/E Ratio
47.48
Dividend Yield
N/A
Market Cap
¥3928.21 billion
Rev. per Employee
¥95.87M
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/zigman2/quotes/203281219/delayed
JP : Japan: Tokyo
¥ 1,186.00
-9.00 -0.75%
Volume: 2.53M
Feb. 21, 2020 3:00p
P/E Ratio
10.20
Dividend Yield
5.06%
Market Cap
¥454.37 billion
Rev. per Employee
¥34.15M
loading...
/zigman2/quotes/209396469/delayed
US : U.S.: OTC
$ 10.51
-0.12 -1.13%
Volume: 27,577
Feb. 21, 2020 3:49p
P/E Ratio
9.89
Dividend Yield
3.74%
Market Cap
$4.05 billion
Rev. per Employee
$309,299
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/zigman2/quotes/200575701/delayed
HK : Hong Kong
HK$ 28.50
+0.30 +1.06%
Volume: 795,750
Feb. 21, 2020 4:08p
P/E Ratio
32.09
Dividend Yield
1.82%
Market Cap
HK$72.16 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204689658/delayed
US : U.S.: OTC
$ 7.16
+0.03 +0.45%
Volume: 4,019
Feb. 21, 2020 3:58p
P/E Ratio
31.60
Dividend Yield
1.20%
Market Cap
$9.27 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204364212/delayed
US : U.S.: OTC
$ 31.00
0.00 0.00%
Volume: 305.00
Feb. 21, 2020 9:31a
P/E Ratio
9.23
Dividend Yield
N/A
Market Cap
$1.39 billion
Rev. per Employee
N/A
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/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
128,000
-2,000 -1.54%
Volume: 686,417
Feb. 21, 2020 3:30p
P/E Ratio
16.46
Dividend Yield
3.13%
Market Cap
₩34193.70 billion
Rev. per Employee
N/A
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/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 50.41
-0.23 -0.45%
Volume: 2.10M
Feb. 21, 2020 6:30p
P/E Ratio
14.84
Dividend Yield
5.28%
Market Cap
$74.56 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.22
-0.30 -0.78%
Volume: 4.79M
Feb. 21, 2020 4:10p
P/E Ratio
14.30
Dividend Yield
5.67%
Market Cap
$194.79 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204517000/delayed
HK : Hong Kong
HK$ 3.88
+0.05 +1.31%
Volume: 43.66M
Feb. 21, 2020 4:08p
P/E Ratio
20.94
Dividend Yield
2.93%
Market Cap
HK$97.19 billion
Rev. per Employee
HK$6.84M
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/zigman2/quotes/203833875/delayed
CN : China: Shanghai
¥ 4.70
+0.11 +2.40%
Volume: 368.37M
Feb. 21, 2020 3:00p
P/E Ratio
28.91
Dividend Yield
2.13%
Market Cap
¥116.48 billion
Rev. per Employee
¥5.78M
loading...
/zigman2/quotes/209836076/delayed
US : U.S.: OTC
$ 0.50
+0.02 +4.95%
Volume: 3,930
Feb. 21, 2020 3:41p
P/E Ratio
21.12
Dividend Yield
N/A
Market Cap
$12.05 billion
Rev. per Employee
$872,997
loading...
/zigman2/quotes/209201002/composite
US : U.S.: NYSE
$ 43.63
-0.68 -1.53%
Volume: 122,213
Feb. 21, 2020 6:30p
P/E Ratio
18.21
Dividend Yield
4.39%
Market Cap
$14.20 billion
Rev. per Employee
N/A
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/zigman2/quotes/201759282/delayed
KR : S. Korea: KRX
211,500
-4,000 -1.86%
Volume: 217,235
Feb. 21, 2020 3:30p
P/E Ratio
18.64
Dividend Yield
4.73%
Market Cap
₩17264.90 billion
Rev. per Employee
N/A
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 313.05
-7.25 -2.26%
Volume: 32.43M
Feb. 21, 2020 4:00p
P/E Ratio
24.72
Dividend Yield
0.98%
Market Cap
$1401.47 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/208789077/composite
US : U.S.: Nasdaq
$ 77.22
-1.55 -1.97%
Volume: 628,077
Feb. 21, 2020 4:00p
P/E Ratio
29.96
Dividend Yield
N/A
Market Cap
$4.62 billion
Rev. per Employee
$782,115
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/zigman2/quotes/204466928/composite
US : U.S.: NYSE
$ 6.24
-0.09 -1.42%
Volume: 301,671
Feb. 21, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.53 billion
Rev. per Employee
N/A
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/zigman2/quotes/204226570/delayed
KR : S. Korea: KRX
15,100.00
-300.00 -1.95%
Volume: 2.08M
Feb. 21, 2020 3:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
₩5510.37 billion
Rev. per Employee
N/A
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/zigman2/quotes/207256514/delayed
TW : Taiwan
NT$ 81.70
-1.10 -1.33%
Volume: 29.78M
Feb. 21, 2020 1:30p
P/E Ratio
8.81
Dividend Yield
4.90%
Market Cap
NT$1147.73 billion
Rev. per Employee
NT$8.60M
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,664.00
+133.00 +2.40%
Volume: 20.70M
Feb. 21, 2020 3:00p
P/E Ratio
38.00
Dividend Yield
0.78%
Market Cap
¥11456.70 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/202815238/delayed
US : U.S.: OTC
$ 50.50
+0.78 +1.57%
Volume: 18,003
Feb. 21, 2020 3:58p
P/E Ratio
39.32
Dividend Yield
N/A
Market Cap
$102.99 billion
Rev. per Employee
$1.15M
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Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Follow him on Twitter @MktwKumar.

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