Bulletin
Investor Alert

Asia Markets Archives | Email alerts

Dec. 13, 2012, 3:56 a.m. EST

Japan stocks hit 8-month high, lead Asia markets

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)

or Cancel Already have a watchlist? Log In

By Sarah Turner and V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Japanese stocks ended at eight-month highs to lead Asian markets Thursday on the yen’s extended weakness, while South Korean and Taiwanese shares made strong advances after the U.S. Federal Reserve added more monetary stimulus.

Hong Kong and Australian shares slipped from 16-month highs on mild profit-taking pressure, and mainland Chinese equities slid lower, paced by weakness in the resource sector.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.69%  surged 1.7% after closing at its highest level since early April, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.06%  rose 1.4% and Taiwan’s Taiex added 0.9%.

Click to Play

Malaysia called most corrupt country for business

In the 2012 Bribe Payers Survey, Malaysian companies were found most likely to take a bribe.

“Sentiment has been boosted by the Fed’s confirmation of outright purchase of long-dated Treasurys, which translates into a bigger asset-purchase program,” said Frances Cheung, a strategist at Crédit Agricole. “Flows into Asian markets are likely to continue.”

Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO -0.07%  ending marginally lower, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.52%  fell 0.3% after recent gains that pushed both benchmarks to their highest levels in 16 months.

The Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 +2.26%  fell 1%, paring its month-to-date advance to 4.1%.

The mixed-to-better performance in Asia echoed U.S. trading overnight, when the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.09%  and S&P 500 /zigman2/quotes/210599714/realtime SPX +0.18%  ended almost flat after the Fed monetary policy decision. The Fed announced a plan to expand its asset-buying program, and to hold rates close to zero until unemployment falls below 6.5% or until inflation accelerates. Read: Fed sets jobless, inflation targets; to buy bonds.

Japanese stocks stood out as the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1531%  shot above the ¥83 mark overnight for the first time since April 2.

While the move partly stemmed from the Federal Reserve’s announcements and a steeper Treasury curve, BNP Paribas currency strategists said “markets remain clearly focused on the Bank of Japan’s policy” ahead of Japanese leadership elections this weekend, and a central-bank decision next week.

Speculation that leadership change in Sunday’s election would lead to pressure on the Bank of Japan to expand its already loose monetary policy has pressured the yen and boosted currency-sensitive companies in recent weeks.

Many Tokyo-listed exporters added to gains on Thursday, with Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 -2.81%   /zigman2/quotes/207472799/delayed SHCAF +3.24%  soaring 6.4%, Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 -0.99%   climbing 7.9% and Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 -2.23% /zigman2/quotes/208567357/composite SNE -1.11%  rising 6.4%.

/zigman2/quotes/210561789/realtime/sampled USDJPY 109.9350, +0.1680, +0.1531%
/zigman2/quotes/210597971/delayed NIK 23,523.24, -164.35, -0.69%
Dollar-yen Vs. Nikkei Average
One-month price chart

Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 -0.20% /zigman2/quotes/207173990/composite HMC -1.11% advanced 2.7%, shrugging off news of a recall of some vehicles at its Canadian unit.

Stan Shamu, market strategist at IG Markets, said that the dollar may make further gains against the yen in the near future.

Power companies weighed in Hong Kong, with CLP Holdings Ltd. /zigman2/quotes/204954538/delayed HK:2 0.00%   /zigman2/quotes/209588494/delayed CLPHY +0.28%  dropping 3.6% on reports it plans to raise about $984 million via a share placement. Read: CLP Holdings raises $982 million from share sale.

Resource stocks were broadly lower in Shanghai trading as gold prices skidded and crude-oil declined after posting gains Wednesday.

Shares of Shandong Gold-Mining Co. /zigman2/quotes/200150484/delayed CN:600547 +1.62%  slid 3.7% and Zhongjin Gold Corp. /zigman2/quotes/207741711/delayed CN:600489 +1.50%  lost 3%, while PetroChina Co. /zigman2/quotes/205108732/composite PTR -0.27%   /zigman2/quotes/206980083/delayed CN:601857 +1.89%  fell 0.6%.

Gold miners also lost ground elsewhere, with Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM -0.75%   /zigman2/quotes/203286036/delayed NCMGY -2.11%  down 0.8% in Sydney and Zhaojin Mining Industry Co. /zigman2/quotes/203361399/delayed HK:1818 -0.12%   /zigman2/quotes/200275285/delayed ZHAOF +0.77%  losing 2.5% in Hong Kong.

In Seoul, heavyweight Samsung Electronics Co. /zigman2/quotes/209800866/delayed KR:005930 -0.49% /zigman2/quotes/202367843/delayed SSNLF 0.00%  extended its recent all-time highs to add 2.9% on the back of the Fed’s policy decisions.

Shares of STX Corp. /zigman2/quotes/200300669/delayed KR:011810 -0.13%  fell 0.8% following a Dow Jones Newswires report the conglomerate was in talks with multiple investors to sell its 27.4% stake in STX Pan Ocean Co. /zigman2/quotes/205341939/delayed KR:028670 -0.25% .

STX Pan Ocean rose 6.7% to extend week-to-date gains to just under 40%.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
23,523.24
-164.35 -0.69%
Volume: 0.00
Feb. 17, 2020 3:15p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,242.17
-1.42 -0.06%
Volume: 458,247
Feb. 17, 2020 3:30p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,125.10
-5.10 -0.07%
Volume: 501,267
Feb. 17, 2020 5:53p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,959.60
+144.00 +0.52%
Volume: 1.41M
Feb. 17, 2020 4:08p
loading...
/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.37
+0.34 +2.26%
Volume: 154.37M
Feb. 17, 2020 3:00p
P/E Ratio
10.99
Dividend Yield
1.42%
Market Cap
¥291.67 billion
Rev. per Employee
¥6.12M
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,398.08
-25.23 -0.09%
Volume: 232.55M
Feb. 14, 2020 5:06p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,380.16
+6.22 +0.18%
Volume: 1.67B
Feb. 14, 2020 5:06p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.9350
+0.1680 +0.1531%
Volume: 0.0000
Feb. 17, 2020 2:15p
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,523.00
-44.00 -2.81%
Volume: 1.41M
Feb. 17, 2020 3:00p
P/E Ratio
15.56
Dividend Yield
1.64%
Market Cap
¥957.20 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/207472799/delayed
US : U.S.: OTC
$ 14.32
+0.45 +3.24%
Volume: 0.00
Feb. 7, 2020 5:19p
P/E Ratio
15.92
Dividend Yield
N/A
Market Cap
$8.70 billion
Rev. per Employee
$454,670
loading...
/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 1,195.50
-12.00 -0.99%
Volume: 5.76M
Feb. 17, 2020 3:00p
P/E Ratio
9.67
Dividend Yield
2.51%
Market Cap
¥2816.93 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,452.00
-170.00 -2.23%
Volume: 5.60M
Feb. 17, 2020 3:00p
P/E Ratio
14.36
Dividend Yield
0.60%
Market Cap
¥9347.75 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 68.83
-0.77 -1.11%
Volume: 1.49M
Feb. 14, 2020 6:30p
P/E Ratio
14.43
Dividend Yield
0.39%
Market Cap
$84.41 billion
Rev. per Employee
$654,652
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,954.00
-6.00 -0.20%
Volume: 5.44M
Feb. 17, 2020 3:00p
P/E Ratio
11.00
Dividend Yield
3.79%
Market Cap
¥5170.86 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 26.78
-0.30 -1.11%
Volume: 342,203
Feb. 14, 2020 6:30p
P/E Ratio
10.82
Dividend Yield
3.25%
Market Cap
$46.78 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/204954538/delayed
HK : Hong Kong
HK$ 82.50
0.00 0.00%
Volume: 1.10M
Feb. 17, 2020 4:08p
P/E Ratio
40.03
Dividend Yield
3.73%
Market Cap
HK$208.43 billion
Rev. per Employee
HK$11.98M
loading...
/zigman2/quotes/209588494/delayed
US : U.S.: OTC
$ 10.62
+0.03 +0.28%
Volume: 23,953
Feb. 14, 2020 3:46p
P/E Ratio
40.38
Dividend Yield
3.38%
Market Cap
$26.84 billion
Rev. per Employee
$1.53M
loading...
/zigman2/quotes/200150484/delayed
CN : China: Shanghai
¥ 33.94
+0.54 +1.62%
Volume: 47.47M
Feb. 17, 2020 3:00p
P/E Ratio
94.94
Dividend Yield
0.21%
Market Cap
¥103.53 billion
Rev. per Employee
¥3.45M
loading...
/zigman2/quotes/207741711/delayed
CN : China: Shanghai
¥ 8.12
+0.12 +1.50%
Volume: 44.16M
Feb. 17, 2020 3:00p
P/E Ratio
208.21
Dividend Yield
0.25%
Market Cap
¥27.61 billion
Rev. per Employee
¥1.20M
loading...
/zigman2/quotes/205108732/composite
US : U.S.: NYSE
$ 44.41
-0.12 -0.27%
Volume: 41,671
Feb. 14, 2020 6:30p
P/E Ratio
10.27
Dividend Yield
3.81%
Market Cap
$9.37 billion
Rev. per Employee
$678,384
loading...
/zigman2/quotes/206980083/delayed
CN : China: Shanghai
¥ 5.38
+0.10 +1.89%
Volume: 84.39M
Feb. 17, 2020 3:00p
P/E Ratio
23.59
Dividend Yield
3.12%
Market Cap
¥966.35 billion
Rev. per Employee
¥4.49M
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 27.78
-0.21 -0.75%
Volume: 2.68M
Feb. 17, 2020 4:10p
P/E Ratio
26.67
Dividend Yield
1.18%
Market Cap
$21.47 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203286036/delayed
US : U.S.: OTC
$ 19.05
-0.41 -2.11%
Volume: 79,279
Feb. 14, 2020 3:56p
P/E Ratio
26.20
Dividend Yield
1.02%
Market Cap
$14.42 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203361399/delayed
HK : Hong Kong
HK$ 8.60
-0.01 -0.12%
Volume: 3.20M
Feb. 17, 2020 4:08p
P/E Ratio
58.50
Dividend Yield
0.53%
Market Cap
HK$27.73 billion
Rev. per Employee
HK$1.31M
loading...
/zigman2/quotes/200275285/delayed
US : U.S.: OTC
$ 1.31
+0.01 +0.77%
Volume: 0.00
Dec. 18, 2019 5:19p
P/E Ratio
70.05
Dividend Yield
N/A
Market Cap
$3.57 billion
Rev. per Employee
$166,560
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
61,500.00
-300.00 -0.49%
Volume: 8.74M
Feb. 17, 2020 3:30p
P/E Ratio
16.98
Dividend Yield
2.30%
Market Cap
₩419787.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202367843/delayed
US : U.S.: OTC
$ 44.20
0.00 0.00%
Volume: 0.00
Feb. 12, 2020 5:20p
P/E Ratio
14.05
Dividend Yield
N/A
Market Cap
$300.24 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200300669/delayed
KR : S. Korea: KRX
7,830.00
-10.00 -0.13%
Volume: 25,127
Feb. 17, 2020 3:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
₩154.57 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205341939/delayed
KR : S. Korea: KRX
4,030.00
-10.00 -0.25%
Volume: 671,701
Feb. 17, 2020 3:30p
P/E Ratio
13.69
Dividend Yield
N/A
Market Cap
₩2159.66 billion
Rev. per Employee
N/A
loading...

Sarah Turner is MarketWatch's bureau chief in Sydney. Follow her on Twitter @SarahTurnerMKTW. Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Follow him on Twitter @MktwKumar.

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.