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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 +0.33%  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 +0.10%  declined 0.1%, the Shanghai Composite /zigman2/quotes/206600939/delayed CN:000001 -1.22%  dropped 0.7%, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.33%  slid 0.3% and Taiwan’s Taiex fell 0.8%. Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO +0.34%  closed up 0.5%.

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The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.22%  and the S&P 500 Index /zigman2/quotes/210599714/realtime SPX +0.91% 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 -0.0239% 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 +0.43%   /zigman2/quotes/200526066/delayed FUJHY -0.69%  fell 2.9%, Nikon Corp. /zigman2/quotes/203281219/delayed JP:7731 -1.22% /zigman2/quotes/209396469/delayed NINOY +0.52%  down 4.6% and Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 -0.10% /zigman2/quotes/207173990/composite HMC +1.19%  dropped 3%.

Heavyweight retailer Fast Retailing Co. /zigman2/quotes/200663563/delayed JP:9983 +0.59%   /zigman2/quotes/208569095/delayed FRCOF -3.24% 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 +0.19%   /zigman2/quotes/200046541/delayed ALNPY -1.80%  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 +2.43%  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 +0.72%  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 +0.78% /zigman2/quotes/202128064/delayed BCMXY -2.38%  dropped 1.3% and Industrial & Commercial Bank of China Ltd. /zigman2/quotes/201401473/delayed HK:1398 +0.54% /zigman2/quotes/202401350/delayed IDCBY +0.93% fell 0.7%.

China Petroleum & Chemical Corp. /zigman2/quotes/202085942/delayed HK:386 +1.61% /zigman2/quotes/202783176/composite SNP +0.70%  fell 1.6% in the energy sector, while China Coal Energy Co. /zigman2/quotes/201486584/delayed HK:1898 -1.66% /zigman2/quotes/205321671/delayed CCOZY -4.37%  slid 1.3%.

On the Chinese mainland, losses were also concentrated in financials, with Bank of Communications Co. /zigman2/quotes/207155262/delayed CN:601328 +0.55%  down 1.6%, and Agricultural Bank of China Ltd. /zigman2/quotes/204629388/delayed CN:601288 0.00%  off 2.1%.

Property firms also sagged, with Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 +4.61% down 2.9% and Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 +3.74%  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 +0.84% /zigman2/quotes/204364212/delayed HYMTF -0.65%  up 0.7%, and affiliate Kia Motors Corp. /zigman2/quotes/206019389/delayed KR:000270 -1.03% /zigman2/quotes/205439169/delayed KIMTF 0.00% 2.3% higher.

However, technology heavyweight Samsung Electronics Co. /zigman2/quotes/209800866/delayed KR:005930 +1.59%   /zigman2/quotes/202367843/delayed SSNLF 0.00%  fell 1.3% and LG Electronics Inc. /zigman2/quotes/209966407/delayed KR:066570 -1.57%   /zigman2/quotes/206354790/delayed 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 -1.09%   gained 3.5% and hearing aid firm Cochlear Ltd. /zigman2/quotes/203271998/delayed AU:COH +0.13% /zigman2/quotes/209002763/delayed CHEOY +1.23% advanced 0.9%.

/zigman2/quotes/210597971/delayed
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JP : Nikkei
23,430.70
+76.30 +0.33%
Volume: 0.00
Dec. 9, 2019 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,525.13
+26.76 +0.10%
Volume: 1.05M
Dec. 9, 2019 3:45p
loading...
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CN : China: Shenzhen
¥ 15.41
-0.19 -1.22%
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Dec. 9, 2019 3:00p
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0.94%
Market Cap
¥267.86 billion
Rev. per Employee
¥6.12M
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KR : Korea Exchange
2,088.65
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Volume: 385,447
Dec. 9, 2019 3:30p
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AU : S&P ASX
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Volume: 505,303
Dec. 9, 2019 4:52p
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Dec. 6, 2019 5:07p
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3,145.91
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Dec. 6, 2019 5:07p
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108.5600
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Volume: 0.0000
Dec. 9, 2019 3:00a
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¥ 2,822.50
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Dec. 9, 2019 3:00p
P/E Ratio
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Dividend Yield
5.10%
Market Cap
¥2155.14 billion
Rev. per Employee
¥95.93M
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US : U.S.: OTC
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Dec. 6, 2019 3:45p
P/E Ratio
12.86
Dividend Yield
3.80%
Market Cap
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Rev. per Employee
$868,462
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JP : Japan: Tokyo
¥ 1,454.00
-18.00 -1.22%
Volume: 2.08M
Dec. 9, 2019 3:00p
P/E Ratio
9.60
Dividend Yield
4.13%
Market Cap
¥573.49 billion
Rev. per Employee
¥34.15M
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US : U.S.: OTC
$ 13.61
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Dec. 6, 2019 3:45p
P/E Ratio
9.93
Dividend Yield
2.89%
Market Cap
$5.30 billion
Rev. per Employee
$309,299
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/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,141.00
-3.00 -0.10%
Volume: 2.40M
Dec. 9, 2019 3:00p
P/E Ratio
10.55
Dividend Yield
3.57%
Market Cap
¥5532.14 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 29.01
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Dec. 6, 2019 6:30p
P/E Ratio
10.70
Dividend Yield
3.02%
Market Cap
$51.05 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 64,300.00
+380.00 +0.59%
Volume: 417,700
Dec. 9, 2019 3:00p
P/E Ratio
40.42
Dividend Yield
0.78%
Market Cap
¥6523.81 billion
Rev. per Employee
¥40.83M
loading...
/zigman2/quotes/208569095/delayed
US : U.S.: OTC
$ 591.23
-19.77 -3.24%
Volume: 0.00
Dec. 4, 2019 10:21a
P/E Ratio
41.45
Dividend Yield
N/A
Market Cap
$60.55 billion
Rev. per Employee
$369,206
loading...
/zigman2/quotes/202790240/delayed
JP : Japan: Tokyo
¥ 3,722.00
+7.00 +0.19%
Volume: 518,600
Dec. 9, 2019 3:00p
P/E Ratio
13.27
Dividend Yield
2.02%
Market Cap
¥1242.75 billion
Rev. per Employee
¥48.88M
loading...
/zigman2/quotes/200046541/delayed
US : U.S.: OTC
$ 6.74
-0.12 -1.80%
Volume: 435.00
Dec. 6, 2019 3:26p
P/E Ratio
13.17
Dividend Yield
1.57%
Market Cap
$11.27 billion
Rev. per Employee
$442,365
loading...
/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 354.09
+8.41 +2.43%
Volume: 2.86M
Dec. 6, 2019 6:30p
P/E Ratio
54.30
Dividend Yield
2.32%
Market Cap
$199.28 billion
Rev. per Employee
$660,961
loading...
/zigman2/quotes/202202214/delayed
JP : Japan: Tokyo
¥ 3,367.00
+24.00 +0.72%
Volume: 917,200
Dec. 9, 2019 3:00p
P/E Ratio
9.10
Dividend Yield
3.27%
Market Cap
¥1127.23 billion
Rev. per Employee
¥44.44M
loading...
/zigman2/quotes/203442771/delayed
HK : Hong Kong
HK$ 5.20
+0.04 +0.78%
Volume: 16.64M
Dec. 9, 2019 3:45p
P/E Ratio
4.42
Dividend Yield
6.56%
Market Cap
HK$383.20 billion
Rev. per Employee
HK$5.47M
loading...
/zigman2/quotes/202128064/delayed
US : U.S.: OTC
$ 16.38
-0.40 -2.38%
Volume: 0.00
Dec. 3, 2019 3:49p
P/E Ratio
4.53
Dividend Yield
5.71%
Market Cap
$23.08 billion
Rev. per Employee
$697,896
loading...
/zigman2/quotes/201401473/delayed
HK : Hong Kong
HK$ 5.58
+0.03 +0.54%
Volume: 106.97M
Dec. 9, 2019 3:45p
P/E Ratio
5.63
Dividend Yield
5.10%
Market Cap
HK$1978.05 billion
Rev. per Employee
HK$3.03M
loading...
/zigman2/quotes/202401350/delayed
US : U.S.: OTC
$ 14.12
+0.13 +0.93%
Volume: 40,805
Dec. 6, 2019 3:47p
P/E Ratio
5.62
Dividend Yield
4.29%
Market Cap
$61.28 billion
Rev. per Employee
$387,287
loading...
/zigman2/quotes/202085942/delayed
HK : Hong Kong
HK$ 4.42
+0.07 +1.61%
Volume: 65.14M
Dec. 9, 2019 3:45p
P/E Ratio
10.75
Dividend Yield
9.57%
Market Cap
HK$526.66 billion
Rev. per Employee
HK$7.40M
loading...
/zigman2/quotes/202783176/composite
US : U.S.: NYSE
$ 55.73
+0.39 +0.70%
Volume: 199,726
Dec. 6, 2019 6:30p
P/E Ratio
8.79
Dividend Yield
8.95%
Market Cap
$14.22 billion
Rev. per Employee
$975,922
loading...
/zigman2/quotes/201486584/delayed
HK : Hong Kong
HK$ 2.96
-0.05 -1.66%
Volume: 11.59M
Dec. 9, 2019 3:45p
P/E Ratio
6.77
Dividend Yield
3.00%
Market Cap
HK$39.91 billion
Rev. per Employee
HK$2.78M
loading...
/zigman2/quotes/205321671/delayed
US : U.S.: OTC
$ 7.88
-0.36 -4.37%
Volume: 0.00
Dec. 3, 2019 1:27p
P/E Ratio
7.07
Dividend Yield
2.30%
Market Cap
$1.58 billion
Rev. per Employee
$354,816
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 5.50
+0.03 +0.55%
Volume: 62.10M
Dec. 9, 2019 3:00p
P/E Ratio
5.40
Dividend Yield
5.45%
Market Cap
¥406.22 billion
Rev. per Employee
¥4.56M
loading...
/zigman2/quotes/204629388/delayed
CN : China: Shanghai
¥ 3.61
0.00 0.00%
Volume: 133.98M
Dec. 9, 2019 3:00p
P/E Ratio
5.96
Dividend Yield
4.82%
Market Cap
¥1263.44 billion
Rev. per Employee
¥1.80M
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 12.72
+0.56 +4.61%
Volume: 45.18M
Dec. 9, 2019 3:00p
P/E Ratio
6.94
Dividend Yield
4.72%
Market Cap
¥54.90 billion
Rev. per Employee
¥7.89M
loading...
/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 15.54
+0.56 +3.74%
Volume: 105.23M
Dec. 9, 2019 3:00p
P/E Ratio
8.35
Dividend Yield
3.22%
Market Cap
¥178.73 billion
Rev. per Employee
¥3.42M
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
119,500
+1,000 +0.84%
Volume: 841,757
Dec. 9, 2019 3:30p
P/E Ratio
15.37
Dividend Yield
3.35%
Market Cap
₩31168.90 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204364212/delayed
US : U.S.: OTC
$ 30.50
-0.20 -0.65%
Volume: 0.00
Dec. 5, 2019 5:19p
P/E Ratio
9.08
Dividend Yield
N/A
Market Cap
$1.31 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
43,350.00
-450.00 -1.03%
Volume: 571,487
Dec. 9, 2019 3:30p
P/E Ratio
11.04
Dividend Yield
2.08%
Market Cap
₩17560.80 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205439169/delayed
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/209800866/delayed
KR : S. Korea: KRX
51,200.00
+800.00 +1.59%
Volume: 8.27M
Dec. 9, 2019 3:30p
P/E Ratio
14.13
Dividend Yield
2.77%
Market Cap
₩342350.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202367843/delayed
US : U.S.: OTC
$ 44.20
0.00 0.00%
Volume: 0.00
Dec. 3, 2019 5:19p
P/E Ratio
14.05
Dividend Yield
N/A
Market Cap
$300.24 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
69,100.00
-1,100 -1.57%
Volume: 435,484
Dec. 9, 2019 3:30p
P/E Ratio
16.90
Dividend Yield
1.09%
Market Cap
₩12640.60 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206354790/delayed
US : U.S.: OTC
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
18.28
Dividend Yield
N/A
Market Cap
$9.61 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206911412/delayed
AU : Australia: Sydney
$ 277.95
-3.05 -1.09%
Volume: 435,138
Dec. 9, 2019 4:10p
P/E Ratio
47.16
Dividend Yield
0.96%
Market Cap
$127.54 billion
Rev. per Employee
$496,860
loading...
/zigman2/quotes/203271998/delayed
AU : Australia: Sydney
$ 230.61
+0.31 +0.13%
Volume: 92,097
Dec. 9, 2019 4:10p
P/E Ratio
48.09
Dividend Yield
1.43%
Market Cap
$13.32 billion
Rev. per Employee
$406,771
loading...
/zigman2/quotes/209002763/delayed
US : U.S.: OTC
$ 79.26
+0.96 +1.23%
Volume: 135.00
Dec. 6, 2019 2:55p
P/E Ratio
46.27
Dividend Yield
1.32%
Market Cap
$9.17 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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