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Jan. 16, 2013, 4:43 a.m. EST

Japan stocks tumble, leading broad Asian losses

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By Sarah Turner, MarketWatch

SYDNEY (MarketWatch) — Asian markets mostly declined Wednesday, with Japanese stocks skidding on a firmer yen and shares in Hong Kong weakening as financials lost ground.

The Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.36%  tumbled 2.6% to 10,600.44, after ending at a level not seen since April 30, 2010 in the previous session.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.01%  declined 0.1%, the Shanghai Composite /zigman2/quotes/206600939/delayed CN:000001 +0.32%  dropped 0.7%, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.34%  slid 0.3% and Taiwan’s Taiex fell 0.8%. Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO +1.91%  closed up 0.5%.

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The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.52%  and the S&P 500 Index /zigman2/quotes/210599714/realtime SPX +1.05% ended slightly higher in the U.S. on Tuesday, after the release of some mixed economic data and before this week’s major earnings releases. Read: U.S. stocks edge up; Apple weighs on tech.

Losses for Japanese stocks Wednesday came as the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1582% traded at 88.07 yen, down from ¥88.92 in late North American trading on Tuesday. The yen jumped against the dollar, bucking its recent downward trend, following reports the country’s economy minister Amira Amari will attend the next Bank of Japan meeting. Read Currencies report.

“In and of itself, the attendance of the Economics Minister at a Bank of Japan meeting is not unusual, but given Amari’s recent warning about yen weakness, expectations of aggressive BOJ easing were pared back a touch,” said Sue Trinh, strategist at RBC Capital Markets.

Companies that have seen some gains in recent sessions amid yen weakness pared some of that strength on Wednesday.

Fuji Heavy Industries Ltd. /zigman2/quotes/203522406/delayed JP:7270 -2.32%   /zigman2/quotes/200526066/composite FUJHY +1.21%  fell 2.9%, Nikon Corp. /zigman2/quotes/203281219/delayed JP:7731 -3.42% /zigman2/quotes/209396469/composite NINOY +1.33%  down 4.6% and Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 -3.27% /zigman2/quotes/207173990/composite HMC +0.62%  dropped 3%.

Heavyweight retailer Fast Retailing Co. /zigman2/quotes/200663563/delayed JP:9983 -0.68%   /zigman2/quotes/208569095/composite FRCOF -2.50% fell 4.6% after a downgrade to neutral from buy at Goldman Sachs, with the broker saying that the firm’s earnings outlook has now largely been priced in, Dow Jones Newswires reported.

Shares of All Nippon Airways Co. /zigman2/quotes/202790240/delayed JP:9202 +0.53%   /zigman2/quotes/200046541/composite ALNPY +2.04%  fell 1.6%, but outperformed the broader market. Japanese broadcaster NHK reported the airline was to ground its entire fleet of 17 Boeing Co. /zigman2/quotes/208579720/composite BA +0.29%  Dreamliners after a 787 aircraft made an emergency landing as it headed toward western Japan.

Rival Japan Airlines Co. /zigman2/quotes/202202214/delayed JP:9201 -1.78%  rose 1.8%, shrugging off reports that it would also ground its Dreamliners Wednesday. The airline has a fleet of 7 Dreamliner planes, with five currently in service, the Wall Street Journal reported.

Wednesday saw mainland Chinese financials retreat in Hong Kong, pulling back after recent gains. Bank of Communications Co. /zigman2/quotes/203442771/delayed HK:3328 -1.83% /zigman2/quotes/202128064/composite BCMXY -5.41%  dropped 1.3% and Industrial & Commercial Bank of China Ltd. /zigman2/quotes/201401473/delayed HK:1398 -0.96% /zigman2/quotes/202401350/composite IDCBY -1.49% fell 0.7%.

China Petroleum & Chemical Corp. /zigman2/quotes/202085942/delayed HK:386 -0.93% /zigman2/quotes/202783176/composite SNP -1.75%  fell 1.6% in the energy sector, while China Coal Energy Co. /zigman2/quotes/201486584/delayed HK:1898 -1.06% /zigman2/quotes/205321671/composite CCOZY 0.00%  slid 1.3%.

On the Chinese mainland, losses were also concentrated in financials, with Bank of Communications Co. /zigman2/quotes/207155262/delayed CN:601328 0.00%  down 1.6%, and Agricultural Bank of China Ltd. /zigman2/quotes/204629388/delayed CN:601288 -0.32%  off 2.1%.

Property firms also sagged, with Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 -1.69% down 2.9% and Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 -0.59%  3.4% lower.

South Korean trading saw gains for auto makers, in contrast to Japan, with Hyundai Motor Co. /zigman2/quotes/206684590/delayed KR:005380 -1.39% /zigman2/quotes/204364212/composite HYMTF +2.10%  up 0.7%, and affiliate Kia Motors Corp. /zigman2/quotes/206019389/delayed KR:000270 -1.62% /zigman2/quotes/205439169/composite KIMTF +8.21% 2.3% higher.

However, technology heavyweight Samsung Electronics Co. /zigman2/quotes/209800866/delayed KR:005930 -0.52%   /zigman2/quotes/202367843/composite SSNLF 0.00%  fell 1.3% and LG Electronics Inc. /zigman2/quotes/209966407/delayed KR:066570 +0.67%   LGEIY 0.00%  declined 1.4% to weigh on the market.

In Australian trading, healthcare stocks were outperforming, as blood products group CSL Ltd. /zigman2/quotes/206911412/delayed AU:CSL +3.21%   gained 3.5% and hearing aid firm Cochlear Ltd. /zigman2/quotes/203271998/delayed AU:COH +3.67% /zigman2/quotes/209002763/composite CHEOY +0.49% advanced 0.9%.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
23,277.23
-83.07 -0.36%
Volume: 0.00
Sept. 23, 2020 1:03p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,713.97
-2.88 -0.01%
Volume: 741,303
Sept. 23, 2020 12:05p
loading...
/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.62
+0.05 +0.32%
Volume: 38.18M
Sept. 23, 2020 11:30a
P/E Ratio
12.19
Dividend Yield
1.40%
Market Cap
¥307.78 billion
Rev. per Employee
¥6.12M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,324.77
-7.82 -0.34%
Volume: 517,401
Sept. 23, 2020 1:03p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,894.80
+110.70 +1.91%
Volume: 392,082
Sept. 23, 2020 2:03p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,288.18
+140.48 +0.52%
Volume: 423.33M
Sept. 22, 2020 5:07p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,315.57
+34.51 +1.05%
Volume: 2.36B
Sept. 22, 2020 5:07p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
105.0910
+0.1660 +0.1582%
Volume: 0.0000
Sept. 23, 2020 12:24a
loading...
/zigman2/quotes/203522406/delayed
JP : Japan: Tokyo
¥ 2,063.50
-49.00 -2.32%
Volume: 1.57M
Sept. 23, 2020 1:03p
P/E Ratio
20.17
Dividend Yield
2.71%
Market Cap
¥1619.90 billion
Rev. per Employee
¥95.93M
loading...
/zigman2/quotes/200526066/composite
US : U.S.: OTC
$ 10.03
+0.12 +1.21%
Volume: 27,850
Sept. 22, 2020 3:48p
P/E Ratio
21.36
Dividend Yield
3.32%
Market Cap
$15.49 billion
Rev. per Employee
$868,462
loading...
/zigman2/quotes/203281219/delayed
JP : Japan: Tokyo
¥ 706.00
-25.00 -3.42%
Volume: 2.64M
Sept. 23, 2020 1:03p
P/E Ratio
N/A
Dividend Yield
2.83%
Market Cap
¥268.37 billion
Rev. per Employee
¥34.15M
loading...
/zigman2/quotes/209396469/composite
US : U.S.: OTC
$ 6.84
+0.09 +1.33%
Volume: 13,670
Sept. 22, 2020 3:56p
P/E Ratio
N/A
Dividend Yield
3.95%
Market Cap
$2.57 billion
Rev. per Employee
$309,299
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,527.50
-85.50 -3.27%
Volume: 5.58M
Sept. 23, 2020 1:03p
P/E Ratio
22.13
Dividend Yield
1.74%
Market Cap
¥4511.73 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 24.37
+0.15 +0.62%
Volume: 599,701
Sept. 22, 2020 4:00p
P/E Ratio
23.00
Dividend Yield
2.99%
Market Cap
$43.15 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 64,430.00
-440.00 -0.68%
Volume: 227,300
Sept. 23, 2020 1:03p
P/E Ratio
69.69
Dividend Yield
0.74%
Market Cap
¥6622.81 billion
Rev. per Employee
¥40.83M
loading...
/zigman2/quotes/208569095/composite
US : U.S.: OTC
$ 604.50
-15.50 -2.50%
Volume: 2.00
Sept. 21, 2020 1:33p
P/E Ratio
71.01
Dividend Yield
N/A
Market Cap
$63.34 billion
Rev. per Employee
$369,206
loading...
/zigman2/quotes/202790240/delayed
JP : Japan: Tokyo
¥ 2,771.00
+14.50 +0.53%
Volume: 893,300
Sept. 23, 2020 1:03p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥922.19 billion
Rev. per Employee
¥48.88M
loading...
/zigman2/quotes/200046541/composite
US : U.S.: OTC
$ 5.24
+0.11 +2.04%
Volume: 12.00
Sept. 22, 2020 5:20p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$8.82 billion
Rev. per Employee
$442,365
loading...
/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 156.80
+0.45 +0.29%
Volume: 17.77M
Sept. 22, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$88.25 billion
Rev. per Employee
$660,961
loading...
/zigman2/quotes/202202214/delayed
JP : Japan: Tokyo
¥ 2,095.50
-38.00 -1.78%
Volume: 3.01M
Sept. 23, 2020 1:03p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥718.94 billion
Rev. per Employee
¥44.44M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 3.75
-0.07 -1.83%
Volume: 14.29M
Sept. 23, 2020 11:59a
P/E Ratio
3.53
Dividend Yield
9.20%
Market Cap
HK$343.61 billion
Rev. per Employee
HK$5.47M
loading...
/zigman2/quotes/202128064/composite
US : U.S.: OTC
$ 13.40
-0.77 -5.41%
Volume: 40.00
Sept. 22, 2020 5:20p
P/E Ratio
3.94
Dividend Yield
7.14%
Market Cap
$44.18 billion
Rev. per Employee
$697,896
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 4.12
-0.04 -0.96%
Volume: 77.33M
Sept. 23, 2020 11:59a
P/E Ratio
4.52
Dividend Yield
6.98%
Market Cap
HK$1894.47 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/202401350/composite
US : U.S.: OTC
$ 10.61
-0.16 -1.49%
Volume: 245,363
Sept. 22, 2020 3:50p
P/E Ratio
4.14
Dividend Yield
5.82%
Market Cap
$244.45 billion
Rev. per Employee
$387,287
loading...
/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 3.19
-0.03 -0.93%
Volume: 36.62M
Sept. 23, 2020 11:59a
P/E Ratio
96.96
Dividend Yield
6.80%
Market Cap
HK$517.96 billion
Rev. per Employee
HK$7.40M
loading...
/zigman2/quotes/202783176/composite
US : U.S.: NYSE
$ 41.54
-0.74 -1.75%
Volume: 240,410
Sept. 22, 2020 4:00p
P/E Ratio
103.67
Dividend Yield
5.76%
Market Cap
$66.83 billion
Rev. per Employee
$975,922
loading...
/zigman2/quotes/201486584/delayed
HK : Hong Kong
HK$ 1.87
-0.02 -1.06%
Volume: 2.61M
Sept. 23, 2020 11:54a
P/E Ratio
4.86
Dividend Yield
7.44%
Market Cap
HK$51.09 billion
Rev. per Employee
HK$2.78M
loading...
/zigman2/quotes/205321671/composite
US : U.S.: OTC
$ 4.56
0.00 0.00%
Volume: 0.00
June 22, 2020 5:19p
P/E Ratio
5.13
Dividend Yield
6.29%
Market Cap
$6.00 billion
Rev. per Employee
$354,816
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 4.61
0.00 0.00%
Volume: 23.55M
Sept. 23, 2020 11:30a
P/E Ratio
4.82
Dividend Yield
6.83%
Market Cap
¥300.34 billion
Rev. per Employee
¥4.56M
loading...
/zigman2/quotes/204629388/delayed
CN : China: Shanghai
¥ 3.16
-0.01 -0.32%
Volume: 40.19M
Sept. 23, 2020 11:29a
P/E Ratio
5.21
Dividend Yield
5.76%
Market Cap
¥1085.56 billion
Rev. per Employee
¥1.80M
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 15.15
-0.26 -1.69%
Volume: 13.00M
Sept. 23, 2020 11:29a
P/E Ratio
7.26
Dividend Yield
4.42%
Market Cap
¥70.25 billion
Rev. per Employee
¥7.89M
loading...
/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 16.74
-0.10 -0.59%
Volume: 27.42M
Sept. 23, 2020 11:29a
P/E Ratio
7.10
Dividend Yield
4.90%
Market Cap
¥203.72 billion
Rev. per Employee
¥3.42M
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
177,000
-2,500 -1.39%
Volume: 2.72M
Sept. 23, 2020 1:03p
P/E Ratio
24.13
Dividend Yield
1.69%
Market Cap
₩42400.69 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204364212/composite
US : U.S.: OTC
$ 38.45
+0.79 +2.10%
Volume: 1,868
Sept. 22, 2020 3:14p
P/E Ratio
12.46
Dividend Yield
N/A
Market Cap
$36.61 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
45,550.00
-750.00 -1.62%
Volume: 1.54M
Sept. 23, 2020 1:03p
P/E Ratio
17.16
Dividend Yield
2.52%
Market Cap
₩19425.12 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205439169/composite
US : U.S.: OTC
$ 30.30
+2.30 +8.21%
Volume: 100.00
Nov. 20, 2017 12:00a
P/E Ratio
13.60
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
57,900.00
-300.00 -0.52%
Volume: 13.40M
Sept. 23, 2020 1:03p
P/E Ratio
18.11
Dividend Yield
2.45%
Market Cap
₩395625.26 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202367843/composite
US : U.S.: OTC
$ 44.20
0.00 0.00%
Volume: 0.00
Sept. 4, 2020 5:20p
P/E Ratio
16.54
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
89,500.00
+600.00 +0.67%
Volume: 682,364
Sept. 23, 2020 1:03p
P/E Ratio
35.76
Dividend Yield
0.84%
Market Cap
₩15378.35 billion
Rev. per Employee
N/A
loading...
US : U.S.: OTC
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
0.00
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/206911412/delayed
AU : Australia: Sydney
$ 295.53
+9.18 +3.21%
Volume: 493,377
Sept. 23, 2020 2:03p
P/E Ratio
43.09
Dividend Yield
1.00%
Market Cap
$128.85 billion
Rev. per Employee
$496,860
loading...
/zigman2/quotes/203271998/delayed
AU : Australia: Sydney
$ 201.15
+7.12 +3.67%
Volume: 152,546
Sept. 23, 2020 2:03p
P/E Ratio
N/A
Dividend Yield
0.80%
Market Cap
$12.63 billion
Rev. per Employee
$406,771
loading...
/zigman2/quotes/209002763/composite
US : U.S.: OTC
$ 69.40
+0.34 +0.49%
Volume: 5,048
Sept. 22, 2020 12:46p
P/E Ratio
N/A
Dividend Yield
1.44%
Market Cap
$9.11 billion
Rev. per Employee
$304,088
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Sarah Turner is MarketWatch's bureau chief in Sydney. Follow her on Twitter @SarahTurnerMKTW.

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