Bulletin
Investor Alert

New York Markets Close in:

Asia Markets Archives | Email alerts

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

Asia stocks end mixed, China struggles

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    NIKKEI 225 Index (NIK)
  • X
    S&P/ASX 200 Benchmark Index (XJO)
  • X
    KOSPI Composite Index (180721)

or Cancel Already have a watchlist? Log In

By Chris Oliver and Sarah Turner, MarketWatch

1 2

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 -1.22% /zigman2/quotes/208876947/composite CIHKY -0.56%  down 1.1% and Bank of Communications Co. /zigman2/quotes/207155262/delayed CN:601328 -0.21%   /zigman2/quotes/202128064/composite BCMXY -0.07%  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 -0.99%   /zigman2/quotes/200754284/composite AGPYY +16.31%  up 0.4%, and Hong Kong’s Wharf Holdings Ltd. /zigman2/quotes/202854264/delayed HK:4 0.00%   /zigman2/quotes/209480994/composite WARFF -15.61%  adding 0.4%.

But other names saw the early advance disappear, with China Resources Land Ltd. /zigman2/quotes/202417326/delayed HK:1109 +1.47%   /zigman2/quotes/201656413/composite CRBJF +5.10%  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 -0.38%   rising 0.6% in Shenzhen, and Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 -0.99%  up 2.3% and Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 -0.18%  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 -0.98%   /zigman2/quotes/203901799/delayed UK:HSBA -3.74%  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 -2.89%   /zigman2/quotes/208114856/composite CPCAY -1.76%  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 +1.77%   /zigman2/quotes/202415695/composite HTCMY +2.91%   — 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 +2.11%   /zigman2/quotes/208520473/composite JPSWY +2.47%  advanced 1.3%. and Sumitomo Heavy industries Ltd. /zigman2/quotes/201770175/delayed JP:6302 +0.44%   /zigman2/quotes/201065179/composite SOHVY +5.45% 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 +0.0337%  and euro /zigman2/quotes/210561215/realtime/sampled EURJPY +0.3278%  near their highest levels against the currency since April.

Renesas Electronics Corp. /zigman2/quotes/203872935/delayed JP:6723 +4.66%   /zigman2/quotes/201351352/composite RNECY +4.19% rose 0.7%, Canon Inc. /zigman2/quotes/207639533/delayed JP:7751 +0.75%   /zigman2/quotes/210242912/composite CAJ +0.17% climbed 2.7%, and Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 -0.65% advanced 0.7%.

Tech firms gained in South Korea, along with autos. Samsung Electronics Co. /zigman2/quotes/209800866/delayed KR:005930 -0.51%   /zigman2/quotes/202367843/composite SSNLF 0.00%  rose 1.7%, while Kia Motors Corp. /zigman2/quotes/206019389/delayed KR:000270 -0.77%   /zigman2/quotes/205439169/composite KIMTF +8.21%  climbed 1.1%, and Hyundai Motor Co. /zigman2/quotes/206684590/delayed KR:005380 -1.16%   /zigman2/quotes/204364212/composite HYMTF -2.68%  advanced 1.3%.

In Australia, financials saw some buying, with Australia & New Zealand Banking Corp. /zigman2/quotes/205482049/delayed AU:ANZ -1.64%   /zigman2/quotes/204542251/composite ANEWF +5.39%  up 1.4%, and asset-manager AMP Ltd. /zigman2/quotes/206014407/delayed AU:AMP +10.87%   /zigman2/quotes/206400018/composite AMLTF -5.67%  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 +2.50%  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. /zigman2/quotes/203840223/delayed AU:NCM +1.09%   /zigman2/quotes/206026738/composite NCMGF +0.12%  declined 1.5% in Sydney, and Zijin Mining Group Co. /zigman2/quotes/204517000/delayed HK:2899 -0.43%   /zigman2/quotes/206594810/composite ZIJMY -10.83%  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 +0.25%  tumbled 7.5%.

/zigman2/quotes/210188047/delayed
CN : China: Shanghai
¥ 37.33
-0.46 -1.22%
Volume: 64.05M
Aug. 13, 2020 3:00p
P/E Ratio
10.14
Dividend Yield
3.21%
Market Cap
¥939.61 billion
Rev. per Employee
¥3.10M
loading...
/zigman2/quotes/208876947/composite
US : U.S.: OTC
$ 24.93
-0.14 -0.56%
Volume: 6,022
Aug. 13, 2020 1:15p
P/E Ratio
N/A
Dividend Yield
2.84%
Market Cap
$135.28 billion
Rev. per Employee
$468,258
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 4.76
-0.01 -0.21%
Volume: 81.30M
Aug. 13, 2020 3:00p
P/E Ratio
4.57
Dividend Yield
6.62%
Market Cap
¥321.83 billion
Rev. per Employee
¥4.56M
loading...
/zigman2/quotes/202128064/composite
US : U.S.: OTC
$ 13.80
-0.01 -0.07%
Volume: 915.00
Aug. 12, 2020 9:52a
P/E Ratio
3.66
Dividend Yield
6.93%
Market Cap
$46.33 billion
Rev. per Employee
$697,896
loading...
/zigman2/quotes/210448079/delayed
HK : Hong Kong
HK$ 10.04
-0.10 -0.99%
Volume: 1.76M
Aug. 13, 2020 4:08p
P/E Ratio
4.54
Dividend Yield
9.96%
Market Cap
HK$39.72 billion
Rev. per Employee
HK$3.79M
loading...
/zigman2/quotes/200754284/composite
US : U.S.: OTC
$ 55.63
+7.80 +16.31%
Volume: 1.00
Aug. 12, 2020 5:19p
P/E Ratio
3.95
Dividend Yield
11.34%
Market Cap
$4.55 billion
Rev. per Employee
$483,421
loading...
/zigman2/quotes/202854264/delayed
HK : Hong Kong
HK$ 14.30
0.00 0.00%
Volume: 2.98M
Aug. 13, 2020 4:08p
P/E Ratio
N/A
Dividend Yield
1.92%
Market Cap
HK$43.61 billion
Rev. per Employee
HK$2.39M
loading...
/zigman2/quotes/209480994/composite
US : U.S.: OTC
$ 1.73
-0.32 -15.61%
Volume: 3,000
Aug. 11, 2020 5:19p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.43 billion
Rev. per Employee
$305,276
loading...
/zigman2/quotes/202417326/delayed
HK : Hong Kong
HK$ 34.40
+0.50 +1.47%
Volume: 8.91M
Aug. 13, 2020 4:08p
P/E Ratio
7.38
Dividend Yield
3.40%
Market Cap
HK$241.74 billion
Rev. per Employee
HK$3.68M
loading...
/zigman2/quotes/201656413/composite
US : U.S.: OTC
$ 4.33
+0.21 +5.10%
Volume: 0.00
July 30, 2020 5:20p
P/E Ratio
7.28
Dividend Yield
N/A
Market Cap
$30.77 billion
Rev. per Employee
$470,019
loading...
/zigman2/quotes/205643772/delayed
CN : China: Shenzhen
¥ 28.60
-0.11 -0.38%
Volume: 79.09M
Aug. 13, 2020 3:00p
P/E Ratio
8.25
Dividend Yield
3.55%
Market Cap
¥322.88 billion
Rev. per Employee
¥3.83M
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 14.96
-0.15 -0.99%
Volume: 29.70M
Aug. 13, 2020 3:00p
P/E Ratio
6.84
Dividend Yield
4.48%
Market Cap
¥68.22 billion
Rev. per Employee
¥7.89M
loading...
/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 16.52
-0.03 -0.18%
Volume: 62.41M
Aug. 13, 2020 3:00p
P/E Ratio
7.03
Dividend Yield
4.96%
Market Cap
¥197.51 billion
Rev. per Employee
¥3.42M
loading...
/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 35.40
-0.35 -0.98%
Volume: 23.68M
Aug. 13, 2020 4:08p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$735.85 billion
Rev. per Employee
HK$2.88M
loading...
/zigman2/quotes/203901799/delayed
UK : U.K.: London
343.75 p
-13.35 -3.74%
Volume: 18.42M
Aug. 13, 2020 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£72.73 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203532437/delayed
HK : Hong Kong
HK$ 5.71
-0.17 -2.89%
Volume: 21.37M
Aug. 13, 2020 4:08p
P/E Ratio
N/A
Dividend Yield
3.15%
Market Cap
HK$37.85 billion
Rev. per Employee
HK$4.27M
loading...
/zigman2/quotes/208114856/composite
US : U.S.: OTC
$ 3.91
-0.07 -1.76%
Volume: 24,898
Aug. 13, 2020 12:30p
P/E Ratio
16.35
Dividend Yield
2.59%
Market Cap
$4.88 billion
Rev. per Employee
$544,403
loading...
/zigman2/quotes/205375504/delayed
JP : Japan: Tokyo
¥ 3,445.00
+60.00 +1.77%
Volume: 915,400
Aug. 13, 2020 3:00p
P/E Ratio
26.42
Dividend Yield
0.87%
Market Cap
¥719.83 billion
Rev. per Employee
¥42.57M
loading...
/zigman2/quotes/202415695/composite
US : U.S.: OTC
$ 61.13
+1.73 +2.91%
Volume: 50.00
Aug. 11, 2020 5:19p
P/E Ratio
25.36
Dividend Yield
1.35%
Market Cap
$6.36 billion
Rev. per Employee
$385,710
loading...
/zigman2/quotes/207991538/delayed
JP : Japan: Tokyo
¥ 1,690.00
+35.00 +2.11%
Volume: 478,100
Aug. 13, 2020 3:00p
P/E Ratio
31.64
Dividend Yield
2.66%
Market Cap
¥121.73 billion
Rev. per Employee
¥42.50M
loading...
/zigman2/quotes/208520473/composite
US : U.S.: OTC
$ 7.09
+0.17 +2.47%
Volume: 0.00
Aug. 3, 2020 11:46a
P/E Ratio
28.92
Dividend Yield
2.23%
Market Cap
$1.08 billion
Rev. per Employee
$385,018
loading...
/zigman2/quotes/201770175/delayed
JP : Japan: Tokyo
¥ 2,486.00
+11.00 +0.44%
Volume: 535,100
Aug. 13, 2020 3:00p
P/E Ratio
11.49
Dividend Yield
2.65%
Market Cap
¥303.23 billion
Rev. per Employee
¥41.99M
loading...
/zigman2/quotes/201065179/composite
US : U.S.: OTC
$ 5.80
+0.30 +5.45%
Volume: 0.00
Aug. 5, 2020 5:19p
P/E Ratio
11.61
Dividend Yield
2.52%
Market Cap
$2.60 billion
Rev. per Employee
$380,370
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
106.9280
+0.0360 +0.0337%
Volume: 0.0000
Aug. 13, 2020 1:48p
loading...
/zigman2/quotes/210561215/realtime/sampled
US : Tullett Prebon
126.3729
+0.4129 +0.3278%
Volume: 0.0000
Aug. 13, 2020 1:48p
loading...
/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 696.00
+31.00 +4.66%
Volume: 13.98M
Aug. 13, 2020 3:00p
P/E Ratio
42.50
Dividend Yield
N/A
Market Cap
¥1143.40 billion
Rev. per Employee
¥36.92M
loading...
/zigman2/quotes/201351352/composite
US : U.S.: OTC
$ 3.23
+0.13 +4.19%
Volume: 24,054
Aug. 13, 2020 12:00p
P/E Ratio
42.67
Dividend Yield
N/A
Market Cap
$10.70 billion
Rev. per Employee
$334,299
loading...
/zigman2/quotes/207639533/delayed
JP : Japan: Tokyo
¥ 1,887.00
+14.00 +0.75%
Volume: 5.23M
Aug. 13, 2020 3:00p
P/E Ratio
27.78
Dividend Yield
4.24%
Market Cap
¥1958.74 billion
Rev. per Employee
¥19.98M
loading...
/zigman2/quotes/210242912/composite
US : U.S.: NYSE
$ 17.69
+0.03 +0.17%
Volume: 174,078
Aug. 13, 2020 1:48p
P/E Ratio
28.24
Dividend Yield
5.34%
Market Cap
$18.32 billion
Rev. per Employee
$180,925
loading...
/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 946.20
-6.20 -0.65%
Volume: 8.84M
Aug. 13, 2020 3:00p
P/E Ratio
13.30
Dividend Yield
3.17%
Market Cap
¥2222.18 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
58,700.00
-300.00 -0.51%
Volume: 22.09M
Aug. 13, 2020 3:30p
P/E Ratio
18.73
Dividend Yield
2.41%
Market Cap
₩393937.57 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202367843/composite
US : U.S.: OTC
$ 44.20
0.00 0.00%
Volume: 0.00
July 16, 2020 5:20p
P/E Ratio
16.69
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
44,900.00
-350.00 -0.77%
Volume: 2.25M
Aug. 13, 2020 3:30p
P/E Ratio
12.47
Dividend Yield
2.56%
Market Cap
₩18142.14 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
9.93
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
170,000
-2,000 -1.16%
Volume: 4.00M
Aug. 13, 2020 3:30p
P/E Ratio
17.07
Dividend Yield
1.76%
Market Cap
₩39792.06 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204364212/composite
US : U.S.: OTC
$ 36.01
-0.99 -2.68%
Volume: 835.00
Aug. 13, 2020 12:10p
P/E Ratio
8.52
Dividend Yield
N/A
Market Cap
$33.57 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205482049/delayed
AU : Australia: Sydney
$ 18.54
-0.31 -1.64%
Volume: 6.92M
Aug. 13, 2020 4:10p
P/E Ratio
12.68
Dividend Yield
11.77%
Market Cap
$53.37 billion
Rev. per Employee
$908,476
loading...
/zigman2/quotes/204542251/composite
US : U.S.: OTC
$ 13.08
+0.67 +5.39%
Volume: 705.00
Aug. 11, 2020 9:37a
P/E Ratio
13.07
Dividend Yield
N/A
Market Cap
$37.50 billion
Rev. per Employee
$690,358
loading...
/zigman2/quotes/206014407/delayed
AU : Australia: Sydney
$ 1.53
+0.15 +10.87%
Volume: 42.06M
Aug. 13, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.70 billion
Rev. per Employee
$1.07M
loading...
/zigman2/quotes/206400018/composite
US : U.S.: OTC
$ 1.13
-0.07 -5.67%
Volume: 0.00
Aug. 5, 2020 5:19p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.50 billion
Rev. per Employee
$800,887
loading...
/zigman2/quotes/200987583/delayed
AU : Australia: Sydney
$ 0.21
+0.0050 +2.50%
Volume: 3.18M
Aug. 13, 2020 4:10p
P/E Ratio
18.64
Dividend Yield
N/A
Market Cap
$163.98 million
Rev. per Employee
$207,319
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 34.47
+0.37 +1.09%
Volume: 4.74M
Aug. 13, 2020 4:10p
P/E Ratio
33.09
Dividend Yield
0.95%
Market Cap
$27.77 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206026738/composite
US : U.S.: OTC
$ 24.36
+0.03 +0.12%
Volume: 2,326
Aug. 13, 2020 11:30a
P/E Ratio
33.56
Dividend Yield
N/A
Market Cap
$19.92 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204517000/delayed
HK : Hong Kong
HK$ 4.58
-0.02 -0.43%
Volume: 64.16M
Aug. 13, 2020 4:08p
P/E Ratio
21.84
Dividend Yield
2.39%
Market Cap
HK$151.31 billion
Rev. per Employee
HK$6.84M
loading...
/zigman2/quotes/206594810/composite
US : U.S.: OTC
$ 12.35
-1.50 -10.83%
Volume: 5.00
Aug. 12, 2020 9:35a
P/E Ratio
23.02
Dividend Yield
1.83%
Market Cap
$19.52 billion
Rev. per Employee
$872,997
loading...
/zigman2/quotes/200167985/delayed
CN : China: Shenzhen
¥ 111.18
+0.28 +0.25%
Volume: 7.09M
Aug. 13, 2020 3:00p
P/E Ratio
33.68
Dividend Yield
1.43%
Market Cap
¥162.44 billion
Rev. per Employee
¥4.42M
loading...

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.

1 2
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.