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Dec. 3, 2012, 6:05 a.m. EST

Asia stocks end mixed, China struggles

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By Chris Oliver and Sarah Turner, MarketWatch

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HSBC analysts said domestic investors were also wary about additional shares flooding the market. The lockup period for a large number of shares will expire in December, bringing the total value of newly floatable shares eligible on ChinNext to 16.4 billion yuan ($2.6 billion), according to HSBC.

Banks were among the weak spots in Shanghai trading Monday, with China Merchants Bank Co. /zigman2/quotes/210188047/delayed CN:600036 -0.03% /zigman2/quotes/208876947/delayed CIHKY +0.06%  down 1.1% and Bank of Communications Co. /zigman2/quotes/207155262/delayed CN:601328 +2.10%   /zigman2/quotes/202128064/delayed BCMXY -2.09%  off 0.5%.

Chinese property firms saw an early rally, helped by separate statistics showing the average housing price in 100 Chinese cities accelerated their gains in November. Read: China housing-price gains accelerate, data show

Some property shares held those gains, with Agile Property Holdings Ltd. /zigman2/quotes/210448079/delayed HK:3383 +1.11%   /zigman2/quotes/200754284/delayed AGPYY -1.92%  up 0.4%, and Hong Kong’s Wharf Holdings Ltd. /zigman2/quotes/202854264/delayed HK:4 +2.42%   /zigman2/quotes/209480994/delayed WARFF -2.67%  adding 0.4%.

But other names saw the early advance disappear, with China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 +1.24%   /zigman2/quotes/201656413/delayed CRBJF -5.76%  trading 2.7% lower, swinging from a 2.9% gain early in the day.

In mainland trading, the real-estate rally proved more durable, with China Vanke Co. /zigman2/quotes/205643772/delayed CN:000002 -0.17%   rising 0.6% in Shenzhen, and Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 -0.39%  up 2.3% and Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 -0.87%  climbing 2.4% in Shanghai.

Hong Kong

Back in Hong Kong, top-weighted Hang Seng Index component HSBC Holdings PLC   /zigman2/quotes/202687335/delayed HK:5 -0.50%   /zigman2/quotes/203901799/delayed UK:HSBA +1.23%  was down 0.6% in Hong Kong after its plan to buy Royal Bank of Scotland Group PLC’s  Indian assets collapsed.

But shares of Cathay Pacific Airways Ltd. /zigman2/quotes/203532437/delayed HK:293 +0.13%   /zigman2/quotes/208114856/delayed CPCAY -1.56%  lost 1.6% as CNBC reported that the airline’s staff was unhappy with the size of a planned salary increase, with labor action a possibility.

Despite gloom on the Chinese mainland, the tone of the Hong Kong market remained “quite firm,” said Kwong.

“If there is progress on the fiscal cliff, then overseas markets will grind up, and that’s positive for Hong Kong,” he said, adding that the Hong Kong market had seen recent fund inflows from offshore investors.

In Tokyo, Japanese industrial firms with exposure to China were among the advancers.

Hitachi Construction Machinery Co. /zigman2/quotes/205375504/delayed JP:6305 +0.71%   /zigman2/quotes/202415695/delayed HTCMY -3.00%   — which saw almost 10% of its fiscal first-half sales derived from China — moved 1.6% higher. Japan Steel Works Ltd. /zigman2/quotes/207991538/delayed JP:5631 -0.76%   /zigman2/quotes/208520473/delayed JPSWY -3.82%  advanced 1.3%. and Sumitomo Heavy industries Ltd. /zigman2/quotes/201770175/delayed JP:6302 +0.60%   /zigman2/quotes/201065179/delayed SOHVY -3.09% rallied 3.5%.

Technology firms likewise gained ground in Japan, as the yen extended its recent downward march, sending the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.4625%  and euro /zigman2/quotes/210561215/realtime/sampled EURJPY -0.1419%  near their highest levels against the currency since April.

Renesas Electronics Corp. /zigman2/quotes/203872935/delayed JP:6723 +0.40%   /zigman2/quotes/201351352/delayed RNECY -1.27% rose 0.7%, Canon Inc. /zigman2/quotes/207639533/delayed JP:7751 +1.04%   climbed 2.7%, and Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 +0.43% advanced 0.7%.

Tech firms gained in South Korea, along with autos. Samsung Electronics Co. /zigman2/quotes/209800866/delayed KR:005930 +0.14%   /zigman2/quotes/202367843/delayed SSNLF -29.70%  rose 1.7%, while Kia Motors Corp. /zigman2/quotes/206019389/delayed KR:000270 -0.12%   /zigman2/quotes/205439169/delayed KIMTF %  climbed 1.1%, and Hyundai Motor Co. /zigman2/quotes/206684590/delayed KR:005380 -0.27%   /zigman2/quotes/204364212/delayed HYMTF +0.83%  advanced 1.3%.

In Australia, financials saw some buying, with Australia & New Zealand Banking Corp. /zigman2/quotes/205482049/delayed AU:ANZ +0.79%   up 1.4%, and asset-manager AMP Ltd. /zigman2/quotes/206014407/delayed AU:AMP 0.00%   /zigman2/quotes/206400018/delayed AMLTF -11.25%  trading 2.4% higher.

Stores in Sydney

Major department-store operators fell in Sydney, however, with David Jones Ltd.  down 2% and Myer Holdings Ltd. /zigman2/quotes/200987583/delayed AU:MYR +0.97%  lower by 1.8%, after data showed that adjusted Australian retail sales for November were unchanged, missing consensus expectations for a 0.4% advance.

Resource firms were broadly lower across the region after a relatively poor session for metals on New York on Friday, with gold miners particularly weak. Newcrest Mining Ltd.    declined 1.5% in Sydney, and Zijin Mining Group Co. /zigman2/quotes/204517000/delayed HK:2899 +1.31%   /zigman2/quotes/206594810/delayed ZIJMY -2.07%  falling 1% in Hong Kong.

Nomura Asia equity strategist Michael Kurtz holds a broadly upbeat stance on Asia stocks as the year-end approaches, saying that while “the U.S. ‘fiscal cliff’ is center-screen ... looking past it, U.S. and Chinese demand are on a vital upswing.”

Kurtz says that “a number of political and economic clouds that darkened the investment landscape during much of 2012 have begun to clear,” and that this development opens the way “for a less tortuous upward path for stocks for much of 2013” in Asia.

Mainland-listed liquor shares fell sharply as the sector became the latest focus of product-safety concerns

Shenzhen-listed Luzhou Lao Jiao Co. /zigman2/quotes/200167985/delayed CN:000568 +1.05%  tumbled 7.5%.

/zigman2/quotes/210188047/delayed
CN : China: Shanghai
¥ 28.79
-0.01 -0.03%
Volume: 55.16M
Nov. 30, 2023 3:00p
P/E Ratio
5.01
Dividend Yield
6.04%
Market Cap
¥708.73 billion
Rev. per Employee
¥4.44M
loading...
/zigman2/quotes/208876947/delayed
US : U.S.: OTC
$ 17.47
+0.01 +0.06%
Volume: 29,687
Nov. 30, 2023 11:54a
P/E Ratio
4.28
Dividend Yield
5.94%
Market Cap
$99.48 billion
Rev. per Employee
$628,258
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 5.84
+0.12 +2.10%
Volume: 175.26M
Nov. 30, 2023 3:00p
P/E Ratio
4.64
Dividend Yield
6.39%
Market Cap
¥370.89 billion
Rev. per Employee
¥5.97M
loading...
/zigman2/quotes/202128064/delayed
US : U.S.: OTC
$ 14.97
-0.32 -2.09%
Volume: 2.00
Oct. 26, 2023 2:04p
P/E Ratio
3.36
Dividend Yield
7.52%
Market Cap
$52.63 billion
Rev. per Employee
$856,054
loading...
/zigman2/quotes/210448079/delayed
HK : Hong Kong
$ 0.91
+0.01 +1.11%
Volume: 16.57M
Nov. 30, 2023 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.54 billion
Rev. per Employee
$458,744
loading...
/zigman2/quotes/200754284/delayed
US : U.S.: OTC
$ 5.09
-0.10 -1.92%
Volume: 8.00
Nov. 6, 2023 9:30a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$614.76 million
Rev. per Employee
$58,537
loading...
/zigman2/quotes/202854264/delayed
HK : Hong Kong
$ 20.30
+0.48 +2.42%
Volume: 105.55M
Nov. 30, 2023 4:08p
P/E Ratio
N/A
Dividend Yield
1.97%
Market Cap
$60.57 billion
Rev. per Employee
$2.90M
loading...
/zigman2/quotes/209480994/delayed
US : U.S.: OTC
$ 2.37
-0.07 -2.67%
Volume: 3.00
Nov. 10, 2023 11:10a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$7.52 billion
Rev. per Employee
$370,153
loading...
/zigman2/quotes/202417326/delayed
HK : Hong Kong
$ 28.60
+0.35 +1.24%
Volume: 15.99M
Nov. 30, 2023 4:08p
P/E Ratio
5.80
Dividend Yield
5.63%
Market Cap
$201.45 billion
Rev. per Employee
$4.23M
loading...
/zigman2/quotes/201656413/delayed
US : U.S.: OTC
$ 3.76
-0.23 -5.76%
Volume: 156,000
Nov. 16, 2023 10:44a
P/E Ratio
5.98
Dividend Yield
N/A
Market Cap
$27.55 billion
Rev. per Employee
$539,981
loading...
/zigman2/quotes/205643772/delayed
CN : China: Shenzhen
¥ 11.44
-0.02 -0.17%
Volume: 38.83M
Nov. 30, 2023 3:00p
P/E Ratio
7.02
Dividend Yield
5.94%
Market Cap
¥127.35 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 5.12
-0.02 -0.39%
Volume: 65.78M
Nov. 30, 2023 3:00p
P/E Ratio
8.17
Dividend Yield
2.66%
Market Cap
¥23.20 billion
Rev. per Employee
¥2.72M
loading...
/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 10.26
-0.09 -0.87%
Volume: 58.28M
Nov. 30, 2023 3:00p
P/E Ratio
6.62
Dividend Yield
4.39%
Market Cap
¥123.89 billion
Rev. per Employee
¥4.52M
loading...
/zigman2/quotes/202687335/delayed
HK : Hong Kong
$ 59.20
-0.30 -0.50%
Volume: 16.68M
Nov. 30, 2023 4:08p
P/E Ratio
5.50
Dividend Yield
3.96%
Market Cap
$1140.59 billion
Rev. per Employee
$2.65M
loading...
/zigman2/quotes/203901799/delayed
UK : U.K.: London
602.10 p
+7.30 +1.23%
Volume: 51.75M
Nov. 30, 2023 4:35p
P/E Ratio
5.37
Dividend Yield
3.94%
Market Cap
£117.66 billion
Rev. per Employee
£275,807
loading...
/zigman2/quotes/203532437/delayed
HK : Hong Kong
$ 7.88
+0.01 +0.13%
Volume: 4.06M
Nov. 30, 2023 4:08p
P/E Ratio
30.05
Dividend Yield
0.00%
Market Cap
$50.67 billion
Rev. per Employee
$4.62M
loading...
/zigman2/quotes/208114856/delayed
US : U.S.: OTC
$ 4.97
-0.08 -1.56%
Volume: 1,003
Nov. 30, 2023 10:02a
P/E Ratio
29.73
Dividend Yield
0.00%
Market Cap
$6.49 billion
Rev. per Employee
$589,678
loading...
/zigman2/quotes/205375504/delayed
JP : Japan: Tokyo
¥ 3,835.00
+27.00 +0.71%
Volume: 1.26M
Nov. 30, 2023 3:00p
P/E Ratio
8.87
Dividend Yield
3.78%
Market Cap
¥809.78 billion
Rev. per Employee
¥54.06M
loading...
/zigman2/quotes/202415695/delayed
US : U.S.: OTC
$ 53.41
-1.65 -3.00%
Volume: 1.00
Nov. 21, 2023 1:09p
P/E Ratio
8.53
Dividend Yield
2.37%
Market Cap
$5.49 billion
Rev. per Employee
$389,760
loading...
/zigman2/quotes/207991538/delayed
JP : Japan: Tokyo
¥ 2,553.50
-19.50 -0.76%
Volume: 469,800
Nov. 30, 2023 3:00p
P/E Ratio
12.55
Dividend Yield
2.27%
Market Cap
¥189.36 billion
Rev. per Employee
¥49.39M
loading...
/zigman2/quotes/208520473/delayed
US : U.S.: OTC
$ 8.18
-0.33 -3.82%
Volume: 0.00
Nov. 10, 2023 11:02a
P/E Ratio
10.92
Dividend Yield
1.86%
Market Cap
$1.21 billion
Rev. per Employee
$357,139
loading...
/zigman2/quotes/201770175/delayed
JP : Japan: Tokyo
¥ 3,529.00
+21.00 +0.60%
Volume: 787,800
Nov. 30, 2023 3:00p
P/E Ratio
20.49
Dividend Yield
3.40%
Market Cap
¥429.74 billion
Rev. per Employee
¥41.65M
loading...
/zigman2/quotes/201065179/delayed
US : U.S.: OTC
$ 5.80
-0.19 -3.09%
Volume: 100.00
Nov. 29, 2023 2:21p
P/E Ratio
18.34
Dividend Yield
3.22%
Market Cap
$2.92 billion
Rev. per Employee
$299,711
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
147.9130
+0.6810 +0.4625%
Volume: 0.0000
Nov. 30, 2023 12:11p
loading...
/zigman2/quotes/210561215/realtime/sampled
US : Tullett Prebon
161.2769
-0.2292 -0.1419%
Volume: 0.0000
Nov. 30, 2023 12:11p
loading...
/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 2,603.50
+10.50 +0.40%
Volume: 18.14M
Nov. 30, 2023 3:00p
P/E Ratio
13.82
Dividend Yield
N/A
Market Cap
¥4642.47 billion
Rev. per Employee
¥71.29M
loading...
/zigman2/quotes/201351352/delayed
US : U.S.: OTC
$ 8.68
-0.11 -1.27%
Volume: 60,965
Nov. 30, 2023 11:51a
P/E Ratio
12.73
Dividend Yield
N/A
Market Cap
$31.60 billion
Rev. per Employee
$513,075
loading...
/zigman2/quotes/207639533/delayed
JP : Japan: Tokyo
¥ 3,807.00
+39.00 +1.04%
Volume: 8.15M
Nov. 30, 2023 3:00p
P/E Ratio
14.32
Dividend Yield
3.68%
Market Cap
¥3772.66 billion
Rev. per Employee
¥23.09M
loading...
/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 1,530.00
+6.50 +0.43%
Volume: 12.02M
Nov. 30, 2023 3:00p
P/E Ratio
8.00
Dividend Yield
2.12%
Market Cap
¥3556.09 billion
Rev. per Employee
¥36.14M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
72,800.00
+100.00 +0.14%
Volume: 15.78M
Nov. 30, 2023 6:13p
P/E Ratio
15.48
Dividend Yield
1.98%
Market Cap
₩481566.06 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202367843/delayed
US : U.S.: OTC
$ 40.60
-17.15 -29.70%
Volume: 0.00
Sept. 27, 2022 3:18p
P/E Ratio
11.61
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
85,900.00
-100.00 -0.12%
Volume: 1.90M
Nov. 30, 2023 6:13p
P/E Ratio
3.71
Dividend Yield
4.07%
Market Cap
₩34194.64 billion
Rev. per Employee
₩2.75B
loading...
/zigman2/quotes/205439169/delayed
US : U.S.: OTC
$ 0.00
0.00 %
Volume: 0.00
Jan. 20, 2021 5:20p
P/E Ratio
0.00
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
$2.09M
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
184,300
-500.00 -0.27%
Volume: 574,490
Nov. 30, 2023 6:13p
P/E Ratio
4.22
Dividend Yield
0.00%
Market Cap
₩43937.63 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204364212/delayed
US : U.S.: OTC
$ 41.81
+0.34 +0.83%
Volume: 2.00
Nov. 29, 2023 1:01p
P/E Ratio
2.50
Dividend Yield
N/A
Market Cap
$34.07 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 24.37
+0.19 +0.79%
Volume: 11.79M
Nov. 30, 2023 4:10p
P/E Ratio
10.76
Dividend Yield
9.53%
Market Cap
$72.56 billion
Rev. per Employee
$1.35M
loading...
/zigman2/quotes/206014407/delayed
AU : Australia: Sydney
$ 0.94
0.00 0.00%
Volume: 21.30M
Nov. 30, 2023 4:10p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$2.57 billion
Rev. per Employee
$446,279
loading...
/zigman2/quotes/206400018/delayed
US : U.S.: OTC
$ 0.58
-0.07 -11.25%
Volume: 0.00
Nov. 16, 2023 9:30a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.52 billion
Rev. per Employee
$300,288
loading...
/zigman2/quotes/200987583/delayed
AU : Australia: Sydney
$ 0.52
+0.0050 +0.97%
Volume: 701,827
Nov. 30, 2023 4:10p
P/E Ratio
7.28
Dividend Yield
9.62%
Market Cap
$426.85 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/204517000/delayed
HK : Hong Kong
$ 12.38
+0.16 +1.31%
Volume: 37.21M
Nov. 30, 2023 4:08p
P/E Ratio
14.98
Dividend Yield
0.00%
Market Cap
$343.67 billion
Rev. per Employee
$6.52M
loading...
/zigman2/quotes/206594810/delayed
US : U.S.: OTC
$ 30.70
-0.65 -2.07%
Volume: 8,600
Nov. 28, 2023 3:43p
P/E Ratio
14.55
Dividend Yield
1.82%
Market Cap
$42.85 billion
Rev. per Employee
$831,973
loading...
/zigman2/quotes/200167985/delayed
CN : China: Shenzhen
¥ 207.50
+2.15 +1.05%
Volume: 3.97M
Nov. 30, 2023 3:00p
P/E Ratio
23.91
Dividend Yield
2.04%
Market Cap
¥302.27 billion
Rev. per Employee
¥7.02M
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Chris Oliver is MarketWatch's Asia bureau chief, based in Hong Kong. Sarah Turner is MarketWatch's bureau chief in Sydney. Follow her on Twitter @SarahTurnerMKTW.

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