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Dec. 9, 2013, 11:49 p.m. EST

Asia stocks mostly lower, with China data in focus

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By Daniel Inman

Asian markets traded mostly lower Tuesday ahead of Chinese data due out later in the session, with Japanese shares falling as the yen’s downward momentum slowed.

Most of Asia shrugged off a positive overnight lead from the U.S. Shares in Japan and South Korea slipped after strong gains the previous session.


Reuters

Trading was marked by caution after a string of speeches by three Federal Reserve presidents suggested that the U.S. central bank could start to scale back its $85-billion-a-month stimulus program as early as this month. A Fed policy meeting is due to take place next week.

The region was also waiting for a flurry of economic data to come out of Asia’s largest economy, with China scheduled to release November figures such as industrial output and retail sales. This will come just after the country posted its largest trade surplus for nearly five years.

Chinese stocks were mixed ahead of the data. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.34%  added 0.2%, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.39%  slipped 0.1%.

Japan’s Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +2.50%  fell 0.2%, as investors shrugged off a weakening yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0775% , after a sharp 2.3% jump Monday. The dollar gained 0.4% against its Japanese counterpart Monday and stabilized Tuesday to ¥103.27, within striking distance of the 2013 high of ¥103.74.

Shares of Japanese real-estate companies managed to move higher in Tokyo, with Mitsui Fudosan /zigman2/quotes/205394574/delayed JP:8801 +2.71%   /zigman2/quotes/208297288/composite MTSFF +4.24%  up 1.5%, and Mitsubishi Estate Co. /zigman2/quotes/208910776/delayed JP:8802 +3.01%   /zigman2/quotes/208166463/composite MITEF +2.12%  up 2.2%. Local exporters, however, were lower: Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 +2.72%   /zigman2/quotes/207173990/composite HMC +2.20%  lost 0.7%, and Kyocera Corp. /zigman2/quotes/204880749/delayed JP:6971 +2.35%   /zigman2/quotes/205094593/composite KYOCF +4.15%  fell 0.2%

Click to Play

Hedging Australia's China bets

HSBC Australia’s chief economist Paul Bloxham discusses the future of China-Australia economic relations, and what policy measures need to be made to ensure a stable economic future for Australia.

“Amid uncertainties surrounding a pullback of the Federal Reserve’s monetary easing, investors are hesitant to pursue exporters. Their domestic-demand-driven shares are generating interest,” said Shun Maruyama, chief equity strategist at BNP Paribas.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.58%  fell 0.4%, Singapore’s Straits Times Index /zigman2/quotes/210597985/delayed SG:STI +1.50%  lost 0.3%, and the Philippines PSE Composite /zigman2/quotes/210597949/delayed PH:PSEI -0.97%  dropped 1.2%.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +1.26%  rose 0.1%, paring earlier gains, as Sydney bounced back from a Monday selloff after a profit warning from QBE Insurance /zigman2/quotes/207050271/delayed AU:QBE +3.42%   /zigman2/quotes/201857553/composite QBEIF +5.78%  that surprised the market and hit broader sentiment. The insurer fell another 11.3% Tuesday, but a number of banks helped support the market. National Australia Bank /zigman2/quotes/210431826/delayed AU:NAB +2.59%   /zigman2/quotes/205253475/composite NAUBF +10.12%  rose 0.6% and Australia & New Zealand Banking Group /zigman2/quotes/205482049/delayed AU:ANZ +3.10%   /zigman2/quotes/204542251/composite ANEWF +2.63%  added 0.5%.

Yumi Otagaki contributed to this article.

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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,402.82
-11.67 -0.34%
Volume: 30.10B
Nov. 24, 2020 3:01p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,588.20
+102.00 +0.39%
Volume: 2.03M
Nov. 24, 2020 4:09p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
26,165.59
+638.22 +2.50%
Volume: 0.00
Nov. 24, 2020 3:15p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
104.6300
+0.0810 +0.0775%
Volume: 0.0000
Nov. 24, 2020 1:00p
loading...
/zigman2/quotes/205394574/delayed
JP : Japan: Tokyo
¥ 2,237.50
+59.00 +2.71%
Volume: 4.49M
Nov. 24, 2020 3:00p
P/E Ratio
17.25
Dividend Yield
1.97%
Market Cap
¥2096.03 billion
Rev. per Employee
¥91.34M
loading...
/zigman2/quotes/208297288/composite
US : U.S.: OTC
$ 20.66
+0.84 +4.24%
Volume: 0.00
Nov. 16, 2020 11:38a
P/E Ratio
17.34
Dividend Yield
N/A
Market Cap
$19.59 billion
Rev. per Employee
$840,062
loading...
/zigman2/quotes/208910776/delayed
JP : Japan: Tokyo
¥ 1,850.00
+54.00 +3.01%
Volume: 7.21M
Nov. 24, 2020 3:00p
P/E Ratio
16.54
Dividend Yield
1.35%
Market Cap
¥2404.08 billion
Rev. per Employee
¥135.38M
loading...
/zigman2/quotes/208166463/composite
US : U.S.: OTC
$ 15.70
+0.33 +2.12%
Volume: 0.00
Nov. 13, 2020 5:19p
P/E Ratio
15.19
Dividend Yield
N/A
Market Cap
$23.61 billion
Rev. per Employee
$1.25M
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,058.00
+81.00 +2.72%
Volume: 6.67M
Nov. 24, 2020 3:00p
P/E Ratio
21.53
Dividend Yield
2.22%
Market Cap
¥5140.23 billion
Rev. per Employee
¥68.28M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 29.75
+0.64 +2.20%
Volume: 344,363
Nov. 24, 2020 1:00p
P/E Ratio
22.30
Dividend Yield
2.25%
Market Cap
$49.20 billion
Rev. per Employee
$628,000
loading...
/zigman2/quotes/204880749/delayed
JP : Japan: Tokyo
¥ 6,104.00
+140.00 +2.35%
Volume: 1.12M
Nov. 24, 2020 3:00p
P/E Ratio
26.83
Dividend Yield
1.97%
Market Cap
¥2161.60 billion
Rev. per Employee
¥21.18M
loading...
/zigman2/quotes/205094593/composite
US : U.S.: OTC
$ 59.03
+2.35 +4.15%
Volume: 60.00
Nov. 20, 2020 5:19p
P/E Ratio
28.03
Dividend Yield
N/A
Market Cap
$20.82 billion
Rev. per Employee
$194,785
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,617.76
+15.17 +0.58%
Volume: 1.36M
Nov. 24, 2020 3:30p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,891.63
+42.85 +1.50%
Volume: 0.00
Nov. 24, 2020 5:20p
loading...
/zigman2/quotes/210597949/delayed
PH : Philippine Stock Exchange
7,108.67
-69.95 -0.97%
Volume: 0.00
Nov. 24, 2020 12:50p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,644.10
+82.50 +1.26%
Volume: 811,485
Nov. 24, 2020 5:20p
loading...
/zigman2/quotes/207050271/delayed
AU : Australia: Sydney
$ 10.29
+0.34 +3.42%
Volume: 3.67M
Nov. 24, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
3.01%
Market Cap
$14.64 billion
Rev. per Employee
$1.33M
loading...
/zigman2/quotes/201857553/composite
US : U.S.: OTC
$ 7.50
+0.41 +5.78%
Volume: 0.00
Nov. 18, 2020 9:30a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$11.22 billion
Rev. per Employee
$990,122
loading...
/zigman2/quotes/210431826/delayed
AU : Australia: Sydney
$ 23.33
+0.59 +2.59%
Volume: 6.64M
Nov. 24, 2020 4:10p
P/E Ratio
29.09
Dividend Yield
2.57%
Market Cap
$74.69 billion
Rev. per Employee
$763,679
loading...
/zigman2/quotes/205253475/composite
US : U.S.: OTC
$ 16.98
+1.56 +10.12%
Volume: 3,000
Nov. 24, 2020 9:37a
P/E Ratio
31.28
Dividend Yield
N/A
Market Cap
$50.46 billion
Rev. per Employee
$517,254
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 22.97
+0.69 +3.10%
Volume: 8.13M
Nov. 24, 2020 4:10p
P/E Ratio
19.49
Dividend Yield
2.61%
Market Cap
$63.19 billion
Rev. per Employee
$778,092
loading...
/zigman2/quotes/204542251/composite
US : U.S.: OTC
$ 14.03
+0.36 +2.63%
Volume: 0.00
Nov. 16, 2020 5:19p
P/E Ratio
17.55
Dividend Yield
N/A
Market Cap
$39.75 billion
Rev. per Employee
$527,016
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