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Sept. 26, 2012, 9:18 a.m. EDT

China stocks touch 3-year low in downbeat Asia

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By Virginia Harrison and V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Chinese stocks traded Wednesday at their lowest level since 2009 as Asian markets suffered a sell-down and Japanese shares tumbled as many firms began to trade without rights to their latest dividend payouts.

The performance in Asia followed a downbeat session in the U.S., as criticism from a non-voting Federal Reserve member about the central bank’s latest round of monetary easing overshadowed solid economic data. Read more on the U.S. session.

“It appears as though the impact of recent central bank announcements is fading fast to be replaced by renewed global growth fears and yet more concerns about the lack of traction in delivering solutions to the fiscal crisis in Europe,” said Mitul Kotecha, strategist at Credit Agricole.

The Shanghai Composite /zigman2/quotes/206600939/delayed CN:000001 +1.92%  briefly fell below the 2,000-point level during the session, before ending 1.1% lower at 2,004.17. The Shenzhen Composite Index lost 2.2% to 816.79.

/zigman2/quotes/210598127/delayed SHCOMP 2,947.01, +31.31, +1.07%
Shanghai Composite
Four-year chart

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +2.43%  slumped 2%, Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +1.74%  and Taiwan’s Taiex  gave up 0.8% each, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.32%  lost 0.6% and Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO +0.59% shed 0.3%.

Investors in Asia were also monitoring developments in an ongoing territorial dispute between China and Japan, following reports Bejiing had rejected Tokyo’s invitation for talks at this week’s United Nations General Assembly. Read more on China rejecting talks with Japan.

Major movers

In Tokyo, shares were pressured as several major names traded ex-dividend.

Among those losing ground, Advantest Corp. /zigman2/quotes/206869087/delayed JP:6857 +3.25% fell 4.7%, Nikon Corp. /zigman2/quotes/209396469/delayed NINOY +0.96% /zigman2/quotes/203281219/delayed JP:7731 +1.50%  dropped 1.8% and Fanuc Corp. /zigman2/quotes/202054799/delayed JP:6954 +1.66% /zigman2/quotes/209410825/delayed FANUY +2.05%  declined 3%.

Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 +2.99% /zigman2/quotes/207173990/composite HMC +0.35%  dropped 4.9% after Deutsche Bank cut its rating on the stock to hold from buy.

Rival auto makers also fell. The Nikkei reported that Toyota Corp. /zigman2/quotes/203803129/delayed JP:7203 +2.08%   /zigman2/quotes/200537742/composite TM -0.01% and Nissan Motor Co. /zigman2/quotes/208298710/delayed JP:7201 +1.77% /zigman2/quotes/207656007/delayed NSANY +0.29%  will reduce production in China as escalating anti-Japan sentiment was hurting sales.

Toyota shares fell 2.7%, while Nissan lost 2.6%.

A stronger yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.2278%  provided another headwind for Japanese exporters. Canon Inc. /zigman2/quotes/207639533/delayed JP:7751 +1.11% /zigman2/quotes/210242912/composite CAJ +0.18%  sank 4.5% and Casio Computer Co. /zigman2/quotes/202492162/delayed JP:6952 +0.94%   /zigman2/quotes/206719136/delayed CSIOY +0.14% dropped 2.9%.

Shares of Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 +1.44%   /zigman2/quotes/207472799/delayed SHCAF -0.45% ended unchanged, ending the session unchanged, after the Nikkei reported lenders were expected to approve funding that will enable the firm to stay afloat through the current fiscal year.

Click to Play

Japan-U.S. war games aimed at China dispute

Japan's military trains with the U.S. marines for the first time on island defense tactics.

In Hong Kong, financial firms were among the main drags. Major index component HSBC Holdings PLC /zigman2/quotes/202687335/delayed HK:5 +2.22%  dropped 1.4% and China Life Insurance Co. /zigman2/quotes/202359856/delayed HK:2628 +1.68%   /zigman2/quotes/206573290/composite LFC +2.04%  retreated 2.2%.

/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.90
+0.30 +1.92%
Volume: 51.68M
Dec. 13, 2019 10:44a
P/E Ratio
10.56
Dividend Yield
0.91%
Market Cap
¥268.89 billion
Rev. per Employee
¥6.12M
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/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
23,994.59
+569.78 +2.43%
Volume: 0.00
Dec. 13, 2019 11:35a
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,464.97
+470.83 +1.74%
Volume: 598,316
Dec. 13, 2019 10:44a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,165.51
+28.16 +1.32%
Volume: 326,886
Dec. 13, 2019 11:39a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,748.70
+39.90 +0.59%
Volume: 297,711
Dec. 13, 2019 1:39p
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/zigman2/quotes/206869087/delayed
JP : Japan: Tokyo
¥ 5,710.00
+180.00 +3.25%
Volume: 3.13M
Dec. 13, 2019 11:30a
P/E Ratio
21.11
Dividend Yield
1.45%
Market Cap
¥1066.71 billion
Rev. per Employee
¥64.26M
loading...
/zigman2/quotes/209396469/delayed
US : U.S.: OTC
$ 13.62
+0.13 +0.96%
Volume: 13,552
Dec. 12, 2019 3:48p
P/E Ratio
9.94
Dividend Yield
2.89%
Market Cap
$5.25 billion
Rev. per Employee
$309,299
loading...
/zigman2/quotes/203281219/delayed
JP : Japan: Tokyo
¥ 1,490.00
+22.00 +1.50%
Volume: 2.03M
Dec. 13, 2019 11:29a
P/E Ratio
9.84
Dividend Yield
4.03%
Market Cap
¥570.76 billion
Rev. per Employee
¥34.15M
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/zigman2/quotes/202054799/delayed
JP : Japan: Tokyo
¥ 21,700.00
+355.00 +1.66%
Volume: 1.11M
Dec. 13, 2019 11:30a
P/E Ratio
37.24
Dividend Yield
N/A
Market Cap
¥4051.10 billion
Rev. per Employee
¥95.87M
loading...
/zigman2/quotes/209410825/delayed
US : U.S.: OTC
$ 19.90
+0.40 +2.05%
Volume: 179,696
Dec. 12, 2019 3:59p
P/E Ratio
37.82
Dividend Yield
3.33%
Market Cap
$37.27 billion
Rev. per Employee
$869,691
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,206.00
+93.00 +2.99%
Volume: 3.99M
Dec. 13, 2019 11:30a
P/E Ratio
10.76
Dividend Yield
3.49%
Market Cap
¥5540.93 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 28.96
+0.10 +0.35%
Volume: 746,436
Dec. 12, 2019 6:30p
P/E Ratio
10.68
Dividend Yield
3.03%
Market Cap
$50.78 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 7,787.00
+159.00 +2.08%
Volume: 3.98M
Dec. 13, 2019 11:30a
P/E Ratio
11.69
Dividend Yield
2.83%
Market Cap
¥21372.80 billion
Rev. per Employee
¥81.43M
loading...
/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 141.60
-0.02 -0.01%
Volume: 150,024
Dec. 12, 2019 6:30p
P/E Ratio
11.63
Dividend Yield
2.52%
Market Cap
$197.50 billion
Rev. per Employee
$737,463
loading...
/zigman2/quotes/208298710/delayed
JP : Japan: Tokyo
¥ 679.90
+11.80 +1.77%
Volume: 9.08M
Dec. 13, 2019 11:30a
P/E Ratio
19.25
Dividend Yield
2.94%
Market Cap
¥2620.22 billion
Rev. per Employee
¥85.36M
loading...
/zigman2/quotes/207656007/delayed
US : U.S.: OTC
$ 12.35
+0.04 +0.29%
Volume: 178,190
Dec. 12, 2019 3:57p
P/E Ratio
12.89
Dividend Yield
4.50%
Market Cap
$24.10 billion
Rev. per Employee
$773,563
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.5500
+0.2490 +0.2278%
Volume: 0.0000
Dec. 12, 2019 9:59p
loading...
/zigman2/quotes/207639533/delayed
JP : Japan: Tokyo
¥ 3,084.00
+34.00 +1.11%
Volume: 3.15M
Dec. 13, 2019 11:30a
P/E Ratio
20.22
Dividend Yield
5.19%
Market Cap
¥3256.39 billion
Rev. per Employee
¥19.98M
loading...
/zigman2/quotes/210242912/composite
US : U.S.: NYSE
$ 28.36
+0.05 +0.18%
Volume: 248,297
Dec. 12, 2019 6:30p
P/E Ratio
18.54
Dividend Yield
4.49%
Market Cap
$30.12 billion
Rev. per Employee
$180,925
loading...
/zigman2/quotes/202492162/delayed
JP : Japan: Tokyo
¥ 2,154.00
+20.00 +0.94%
Volume: 1.04M
Dec. 13, 2019 11:30a
P/E Ratio
22.51
Dividend Yield
2.09%
Market Cap
¥525.89 billion
Rev. per Employee
¥24.53M
loading...
/zigman2/quotes/206719136/delayed
US : U.S.: OTC
$ 198.58
+0.28 +0.14%
Volume: 37.00
Dec. 12, 2019 3:45p
P/E Ratio
24.94
Dividend Yield
1.82%
Market Cap
$4.85 billion
Rev. per Employee
$222,207
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,685.00
+24.00 +1.44%
Volume: 1.09M
Dec. 13, 2019 11:30a
P/E Ratio
17.79
Dividend Yield
1.48%
Market Cap
¥1020.11 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/207472799/delayed
US : U.S.: OTC
$ 15.58
-0.07 -0.45%
Volume: 100.00
Dec. 12, 2019 3:54p
P/E Ratio
18.16
Dividend Yield
N/A
Market Cap
$9.56 billion
Rev. per Employee
$454,670
loading...
/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 59.90
+1.30 +2.22%
Volume: 14.40M
Dec. 13, 2019 10:44a
P/E Ratio
11.75
Dividend Yield
6.65%
Market Cap
HK$1179.13 billion
Rev. per Employee
HK$2.88M
loading...
/zigman2/quotes/202359856/delayed
HK : Hong Kong
HK$ 21.20
+0.35 +1.68%
Volume: 15.00M
Dec. 13, 2019 10:44a
P/E Ratio
10.62
Dividend Yield
0.86%
Market Cap
HK$583.67 billion
Rev. per Employee
HK$7.60M
loading...
/zigman2/quotes/206573290/composite
US : U.S.: NYSE
$ 13.49
+0.27 +2.04%
Volume: 430,838
Dec. 12, 2019 6:30p
P/E Ratio
10.60
Dividend Yield
0.63%
Market Cap
$19.67 billion
Rev. per Employee
$970,796
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