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Jan. 4, 2013, 3:21 a.m. EST

Asia stocks mostly lower, but Japan jumps sharply

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By Michael Kitchen and V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Japanese stocks soared Friday in a post-holiday catch-up rally that was aided again by a weaker yen, while most other Asian markets fell on concerns U.S. central bankers were considering an end to their bond-buying program.

The Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -3.34%  jumped 2.8% to 10,688.11, ending at a level not seen since early March of 2011. The rally came as trading began in Tokyo for the first time in this calendar year, and after U.S. lawmakers signed an agreement to avert the worst of the fiscal cliff.

/zigman2/quotes/210597971/delayed NIK 22,605.41, -781.33, -3.34%
/zigman2/quotes/210561789/realtime/sampled USDJPY 110.4770, -0.2410, -0.2177%
Nikkei Average and Dollar-Yen
One-month price moves

But other markets that had already enjoyed fiscal-cliff relief rallies pared their recent gains. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.60% , South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.18%  and Taiwan’s Taiex  each lost 0.4%, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.27%  fell 0.3% after recent gains.

The Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 -1.25%  ended 0.4% higher, unable to rally as hard as stocks in Japan, as investors held out hopes for Beijing to enact large, market-friendly pro-growth measures.

“You still have to wait for the officials to announce some meaningful policies to spur the financial markets,” said Lyncean Securities’s Managing Director Francis Lun, who believes that such major reforms remain unlikely for now.

Overnight, U.S. stocks ended lower after the Fed minutes showed the central bank’s bond purchases would likely cease by the end of the year, with investors also preparing for the December employment report due later Friday. Read: U.S. stocks drop after Fed signals end to bond buys.

More recently, Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -3.56%  futures slipped 0.1% and S&P 500 /zigman2/quotes/210599714/realtime SPX -3.35%  futures were marginally lower.

But stocks in Japan posted solid gains, with a wide swathe of major exporters rising sharply as the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.2177%  weakened to near ¥88, up from the ¥86 level last week, before the Tokyo stock market closed for holidays. Read: Dollar climbs ahead of jobs data.

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Hitachi Ltd. /zigman2/quotes/203839937/delayed JP:6501 -3.78% /zigman2/quotes/203416411/delayed HTHIF +2.28%  surged 5.2%, Bridgestone Corp. /zigman2/quotes/205589013/delayed JP:5108 -2.98% /zigman2/quotes/201520388/delayed BRDCF -9.21%  rocketed up 7.5%, Toyota Motor Corp. /zigman2/quotes/203803129/delayed JP:7203 -3.36% /zigman2/quotes/200537742/composite TM -3.27%  jumped 6.4% and Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 -3.42%   /zigman2/quotes/207173990/composite HMC -3.73%  added 4%.

Financials also advanced in response to the U.S. fiscal-cliff deal, with Nomura Holdings Inc. /zigman2/quotes/206251373/delayed JP:8604 -5.20%   /zigman2/quotes/207276383/composite NMR -4.00%  trading up 4.2% and Mitsubishi UFJ Financial Group Inc. /zigman2/quotes/207520099/delayed JP:8306 -1.77% rising 5%.

Among the few blue chips losing ground, Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 -5.66% /zigman2/quotes/207472799/delayed SHCAF +3.24%  fell 2.6% after the Yomiuri Shimbun reported Tuesday that the company may issue more than $1.15 billion in new shares.

Unlike their Japanese peers, Hong Kong-listed banks moved lower, hit by the Fed news and a 0.5% drop for U.S. financials Thursday.

Top-weighted index component HSBC Holdings PLC /zigman2/quotes/202687335/delayed HK:5 -0.80%  lost 1.6%, while Agricultural Bank of China Ltd. /zigman2/quotes/200705246/delayed HK:1288 -0.32% /zigman2/quotes/209398792/delayed ACGBF +0.93% fell 0.3% and China Merchants Bank Co. /zigman2/quotes/209899244/delayed HK:3968 +0.40% /zigman2/quotes/209895294/delayed CIHHF -5.97%  declined 0.8%.

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In Shanghai, however, banks were mostly higher, as the market opened for the first time after the U.S. fiscal-cliff agreement.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
22,605.41
-781.33 -3.34%
Volume: 0.00
Feb. 25, 2020 3:15p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,866.60
-111.70 -1.60%
Volume: 1.04M
Feb. 25, 2020 5:32p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,103.61
+24.57 +1.18%
Volume: 1.57M
Feb. 25, 2020 3:32p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,893.23
+72.35 +0.27%
Volume: 1.92M
Feb. 25, 2020 4:08p
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.04
-0.19 -1.25%
Volume: 114.46M
Feb. 25, 2020 3:01p
P/E Ratio
10.75
Dividend Yield
1.45%
Market Cap
¥295.55 billion
Rev. per Employee
¥6.12M
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,960.80
-1,032 -3.56%
Volume: 458.71M
Feb. 24, 2020 5:04p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,225.89
-111.86 -3.35%
Volume: 2.75B
Feb. 24, 2020 5:04p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
110.4770
-0.2410 -0.2177%
Volume: 0.0000
Feb. 25, 2020 6:29a
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/zigman2/quotes/203839937/delayed
JP : Japan: Tokyo
¥ 4,020.00
-158.00 -3.78%
Volume: 5.16M
Feb. 25, 2020 3:00p
P/E Ratio
19.94
Dividend Yield
2.24%
Market Cap
¥4047.57 billion
Rev. per Employee
¥30.84M
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/zigman2/quotes/203416411/delayed
US : U.S.: OTC
$ 38.87
+0.87 +2.28%
Volume: 9.00
Feb. 24, 2020 5:20p
P/E Ratio
21.20
Dividend Yield
N/A
Market Cap
$34.75 billion
Rev. per Employee
$279,568
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/zigman2/quotes/205589013/delayed
JP : Japan: Tokyo
¥ 3,836.00
-118.00 -2.98%
Volume: 3.78M
Feb. 25, 2020 3:00p
P/E Ratio
9.49
Dividend Yield
4.17%
Market Cap
¥2613.71 billion
Rev. per Employee
¥25.43M
loading...
/zigman2/quotes/201520388/delayed
US : U.S.: OTC
$ 35.50
-3.60 -9.21%
Volume: 4,100
Feb. 21, 2020 5:20p
P/E Ratio
9.56
Dividend Yield
N/A
Market Cap
$23.30 billion
Rev. per Employee
$230,298
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 7,574.00
-263.00 -3.36%
Volume: 8.35M
Feb. 25, 2020 3:00p
P/E Ratio
8.76
Dividend Yield
2.90%
Market Cap
¥21916.10 billion
Rev. per Employee
¥81.43M
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/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 134.49
-4.55 -3.27%
Volume: 398,777
Feb. 24, 2020 6:30p
P/E Ratio
8.47
Dividend Yield
2.65%
Market Cap
$190.11 billion
Rev. per Employee
$737,463
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/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,935.00
-104.00 -3.42%
Volume: 6.24M
Feb. 25, 2020 3:00p
P/E Ratio
10.93
Dividend Yield
3.82%
Market Cap
¥5308.87 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 26.04
-1.01 -3.73%
Volume: 770,756
Feb. 24, 2020 6:30p
P/E Ratio
10.52
Dividend Yield
3.34%
Market Cap
$45.49 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/206251373/delayed
JP : Japan: Tokyo
¥ 532.60
-29.20 -5.20%
Volume: 25.69M
Feb. 25, 2020 3:00p
P/E Ratio
7.05
Dividend Yield
5.63%
Market Cap
¥1744.95 billion
Rev. per Employee
¥65.89M
loading...
/zigman2/quotes/207276383/composite
US : U.S.: NYSE
$ 4.80
-0.20 -4.00%
Volume: 199,681
Feb. 24, 2020 6:30p
P/E Ratio
6.87
Dividend Yield
3.02%
Market Cap
$14.84 billion
Rev. per Employee
$597,075
loading...
/zigman2/quotes/207520099/delayed
JP : Japan: Tokyo
¥ 556.30
-10.00 -1.77%
Volume: 73.05M
Feb. 25, 2020 3:00p
P/E Ratio
12.33
Dividend Yield
4.49%
Market Cap
¥7178.43 billion
Rev. per Employee
¥50.52M
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,399.00
-84.00 -5.66%
Volume: 2.61M
Feb. 25, 2020 3:00p
P/E Ratio
14.29
Dividend Yield
1.79%
Market Cap
¥910.77 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
$7.81 billion
Rev. per Employee
$454,670
loading...
/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 56.05
-0.45 -0.80%
Volume: 47.02M
Feb. 25, 2020 4:08p
P/E Ratio
23.71
Dividend Yield
7.09%
Market Cap
HK$1147.72 billion
Rev. per Employee
HK$2.88M
loading...
/zigman2/quotes/200705246/delayed
HK : Hong Kong
HK$ 3.13
-0.01 -0.32%
Volume: 131.57M
Feb. 25, 2020 4:08p
P/E Ratio
4.53
Dividend Yield
6.32%
Market Cap
HK$1098.95 billion
Rev. per Employee
HK$2.16M
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/zigman2/quotes/209398792/delayed
US : U.S.: OTC
$ 0.42
+0.0039 +0.93%
Volume: 1,802
Feb. 21, 2020 12:45p
P/E Ratio
4.72
Dividend Yield
N/A
Market Cap
$137.89 billion
Rev. per Employee
$276,273
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/zigman2/quotes/209899244/delayed
HK : Hong Kong
HK$ 37.35
+0.15 +0.40%
Volume: 11.36M
Feb. 25, 2020 4:08p
P/E Ratio
9.13
Dividend Yield
2.86%
Market Cap
HK$938.18 billion
Rev. per Employee
HK$3.67M
loading...
/zigman2/quotes/209895294/delayed
US : U.S.: OTC
$ 4.57
-0.29 -5.97%
Volume: 2,200
Feb. 24, 2020 9:54a
P/E Ratio
8.76
Dividend Yield
N/A
Market Cap
$115.25 billion
Rev. per Employee
$468,258
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