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Sept. 21, 2012, 6:34 a.m. EDT

Asia stocks rise after iPhone 5 launch

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By Sarah Turner and Chris Oliver, MarketWatch

HONG KONG (MarketWatch)—Asian stocks ended a turbulent week on an upbeat note Friday, with the launch of Apple Inc.’s newest iPhone helping technology and telecom companies, while Japan Airlines Co. fell below its offer price as bilateral tensions between China and Japan weighed on airlines.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.48% ended 0.7% higher while the Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 -1.14%  gained 0.1%, moving off the multiyear lows it hit when it plunged 2.1% on Thursday.

The Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +0.18%  gained 0.3%, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.83%  climbed 0.6% and Australia’s S&P/ASX 200 Index /zigman2/quotes/210598100/delayed AU:XJO -0.52%  advanced 0.3%.

In a notable exception to the uptrend, the Shenzhen Composite index eased 0.7%. The Asia Dow was up 0.9% at 2,791.

Louis Capital Markets head of Japanese equities Ben Collette in Hong Kong said he expected more turbulent times in the weeks ahead as China nears its once-in-a-decade leadership transition.

“Uncertainly over China is based on leadership ... and that’s what is going to stop the market from going higher,” Collette said.

Among the highlights of the past seven days has been the reappearance of Xi Jingpin, China’s presumed leader-in-waiting, who toured a university campus Saturday and met U.S. Defense Secretary Leon Panetta on Wednesday—helping to create a sense of normalcy after a two-week unexplained absence from the public eye.

Strong performers on Friday included Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 +0.48%   /zigman2/quotes/207472799/delayed SHCAF -0.94% , jumping 5% in Tokyo after the Mainichi Shimbun reported that the cash-strapped firm is in talks with Intel Corp. /zigman2/quotes/203649727/composite INTC -0.96%  for a capital tie-up, including a cash injection of about $380 million.


Reuters
People wait in line to buy Apple Inc's iPhone 5 as an Apple fan shows his iPad outside Apple Store in Tokyo's Ginza district.

The share gains stuck, even after Sharp denied the report. See: Sharp shares jump on Intel report despite denial.

Sharp also supplies components to Apple /zigman2/quotes/202934861/composite AAPL +0.48% , which launched its eagerly-anticipated new iPhone 5 in key markets across the world Friday. Follow MarketWatch streaming coverage of the Apple iPhone launch.

Japan Airlines Co. /zigman2/quotes/202202214/delayed JP:9201 +0.33%  fell 4.3% to end below its initial offer price in its third trading session since debuting in Tokyo, after the company said it is having to cancel flights to China amid the anti-Japanese protests.

Hong Kong-listed China Eastern Airlines /zigman2/quotes/203578936/delayed HK:670 -1.02%  ended 1.6% lower after saying it will postpone the introduction of a new Japan route owing to low demand.

iPhone-related moves

Apple’s Chinese partners and mobile-service providers, which won’t be offering the new iPhone for a few more months on the mainland, gained ground.

In Hong Kong trading, China Telecom Corp. /zigman2/quotes/206668971/delayed HK:728 +1.40% /zigman2/quotes/200463528/composite CHA +0.79% rose 1.8% and China Unicom Ltd. /zigman2/quotes/205091392/delayed HK:762 0.00% /zigman2/quotes/205476740/composite CHU +0.19% gained 1.9%.

SmarTone Telecommunications Holdings Ltd. /zigman2/quotes/207924608/delayed HK:315 -0.14% moved 2.3% higher in Hong Kong.

“SmarTone is the only [Hong Kong firm] that can provide 4G services smoothly at the moment,” said Peter Lai, director at DBS Vickers, talking about share-price reaction to the launch of the new iPhone.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,719.58
-128.91 -0.48%
Volume: 1.54M
Oct. 18, 2019 4:08p
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 16.51
-0.19 -1.14%
Volume: 119.68M
Oct. 18, 2019 3:00p
P/E Ratio
11.42
Dividend Yield
0.88%
Market Cap
¥283.48 billion
Rev. per Employee
¥6.12M
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/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
22,492.68
+40.82 +0.18%
Volume: 0.00
Oct. 18, 2019 3:15p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,060.69
-17.25 -0.83%
Volume: 516,687
Oct. 18, 2019 6:03p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,649.70
-35.00 -0.52%
Volume: 633,428
Oct. 18, 2019 4:38p
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/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,262.00
+6.00 +0.48%
Volume: 1.47M
Oct. 18, 2019 3:00p
P/E Ratio
12.93
Dividend Yield
1.58%
Market Cap
¥770.89 billion
Rev. per Employee
¥50.23M
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/zigman2/quotes/207472799/delayed
US : U.S.: OTC
$ 11.52
-0.11 -0.94%
Volume: 2.00
Oct. 17, 2019 5:19p
P/E Ratio
13.15
Dividend Yield
N/A
Market Cap
$7.11 billion
Rev. per Employee
$454,670
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/zigman2/quotes/203649727/composite
US : U.S.: Nasdaq
$ 51.36
-0.50 -0.96%
Volume: 16.98M
Oct. 18, 2019 4:00p
P/E Ratio
11.97
Dividend Yield
2.45%
Market Cap
$227.53 billion
Rev. per Employee
$659,665
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 236.41
+1.13 +0.48%
Volume: 24.38M
Oct. 18, 2019 4:00p
P/E Ratio
20.15
Dividend Yield
1.30%
Market Cap
$1068.38 billion
Rev. per Employee
$1.98M
loading...
/zigman2/quotes/202202214/delayed
JP : Japan: Tokyo
¥ 3,375.00
+11.00 +0.33%
Volume: 1.05M
Oct. 18, 2019 3:00p
P/E Ratio
8.11
Dividend Yield
3.26%
Market Cap
¥1169.95 billion
Rev. per Employee
¥44.44M
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/zigman2/quotes/203578936/delayed
HK : Hong Kong
HK$ 3.90
-0.04 -1.02%
Volume: 4.15M
Oct. 18, 2019 4:08p
P/E Ratio
20.23
Dividend Yield
0.00%
Market Cap
HK$63.88 billion
Rev. per Employee
HK$1.78M
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/zigman2/quotes/206668971/delayed
HK : Hong Kong
HK$ 3.63
+0.05 +1.40%
Volume: 44.10M
Oct. 18, 2019 4:08p
P/E Ratio
11.84
Dividend Yield
3.44%
Market Cap
HK$293.78 billion
Rev. per Employee
HK$1.57M
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/zigman2/quotes/200463528/composite
US : U.S.: NYSE
$ 46.04
+0.36 +0.79%
Volume: 44,919
Oct. 18, 2019 6:30p
P/E Ratio
11.78
Dividend Yield
3.13%
Market Cap
$6.39 billion
Rev. per Employee
$200,534
loading...
/zigman2/quotes/205091392/delayed
HK : Hong Kong
HK$ 8.32
0.00 0.00%
Volume: 44.68M
Oct. 18, 2019 4:08p
P/E Ratio
19.82
Dividend Yield
1.87%
Market Cap
HK$254.58 billion
Rev. per Employee
HK$1.29M
loading...
/zigman2/quotes/205476740/composite
US : U.S.: NYSE
$ 10.57
+0.02 +0.19%
Volume: 342,823
Oct. 18, 2019 6:30p
P/E Ratio
19.75
Dividend Yield
1.69%
Market Cap
$32.34 billion
Rev. per Employee
$164,278
loading...
/zigman2/quotes/207924608/delayed
HK : Hong Kong
HK$ 6.91
-0.01 -0.14%
Volume: 239,500
Oct. 18, 2019 4:08p
P/E Ratio
12.27
Dividend Yield
5.64%
Market Cap
HK$7.76 billion
Rev. per Employee
HK$5.83M
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