Most Asia stocks fall on Apple results, China data

By Sarah Turner and V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Most Asian markets ended lower Thursday amid some gloom over earnings reports from Apple Inc. and Hyundai Motor Co., although Japanese shares found fresh impetus from a weaker yen.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.11% and China’s Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 +1.39% lost 0.8% each, Taiwan’s Taiex declined 0.6% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.35% slipped 0.2%.

On the upside, Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.45% rose 1.3%, while Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.55% gained 0.5%, completing a seven-day winning streak to end at its highest level since May 2011.

Most Asia markets are trading around multi-year highs and, according to Perpetual Investments investment strategy chief Matthew Sherwood, were “probably due for a bout of profit-taking before too long.”

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“The rise in global stock prices is getting thinner and showing signs of fatigue and being over-bought,” he said.

Some investors took their cues from a sharp fall in shares of investor favorite Apple /zigman2/quotes/202934861/composite AAPL +0.54%  in U.S. after-hours trade Wednesday. The firm posted almost flat fiscal first-quarter earnings, weaker-than-expected revenue and a disappointing forecast. Read: Apple shares tumble on results, forecast.

“With Apple’s worse-than-expected results, it would not be surprising if we see some consolidation in risk appetite today,” said Crédit Agricole strategist Gary Yau.

Some Asia-based companies in Apple’s supply chain felt the heat from the results.

In Taipei, Hon Hai Precision Industry Co. /zigman2/quotes/207256514/delayed TW:2317 -0.43% /zigman2/quotes/205520950/delayed HNHPF -0.95% , which assembles iPhones, fell 2.9%; South Korean Apple supplier LG Display Co. /zigman2/quotes/204226570/delayed KR:034220 -0.24%   /zigman2/quotes/204466928/composite LPL +1.79% dropped 1.2% in Seoul, while Apple handset rival Samsung Electronics Co. /zigman2/quotes/209800866/delayed KR:005930 +0.11%   /zigman2/quotes/202367843/delayed SSNLF 0.00% , which has also supplies some components for Apple products, lost 1.4%.

China data strong

Meanwhile, a preliminary survey from HSBC out Thursday showed that business conditions for Chinese manufacturers improved to a 24-month high this month.

The results represented the fifth straight month of improvement for the data series, “heralding a good start to the new year,” said chief China economist Hongbin Qu. “Despite the still-tepid external demand, the domestic-driven restocking process is likely to add steam to China’s ongoing recovery in the coming months,” he added. Read: China manufacturing improves: HSBC initial data.

Australian mining firms — many of which count China as their most important customer — came off early lows or turned positive after the data, with BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP +1.14% /zigman2/quotes/208108397/composite BHP +1.18%  advancing 0.3%.

Gold miner Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM +2.20% /zigman2/quotes/206026738/delayed NCMGF +0.30% improved by 1.8%, swinging from a 1.7% loss earlier in the session after announcing a drop in second-quarter gold output. Read: Newcrest tips gold output at low end of forecast.

Linc Energy Ltd.  surged 23.6% in Sydney afternoon trading after it released two estimates of un-risked prospective resource reserves in the Arckaringa Basin in South Australia, which the firm said “confirm the significant potential of shale oil.”

/zigman2/quotes/210598069/delayed

Add to watchlist KR:SEU

KOSPI Composite Index

KR : Korea Exchange

3,096.05

+3.39 +0.11%

Volume: 790,720

Jan. 20, 2021 12:17p

/zigman2/quotes/206600939/delayed

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Ping An Bank Co. Ltd.

CN : China: Shenzhen

¥ 22.65

+0.31 +1.39%

Volume: 56.37M

Jan. 20, 2021 11:22a

P/E Ratio

17.97

Dividend Yield

0.96%

Market Cap

¥440.51 billion

Rev. per Employee

¥6.12M

/zigman2/quotes/210598030/delayed

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Hang Seng Index

HK : Hong Kong Exchange

29,746.13

+103.85 +0.35%

Volume: 1.75M

Jan. 20, 2021 11:22a

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NIKKEI 225 Index

JP : Nikkei

28,504.38

-129.08 -0.45%

Volume: 0.00

Jan. 20, 2021 11:30a

/zigman2/quotes/210598100/delayed

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S&P/ASX 200 Benchmark Index

AU : S&P ASX

6,779.80

+37.20 +0.55%

Volume: 275,843

Jan. 20, 2021 2:17p

/zigman2/quotes/202934861/composite

Add to watchlist AAPL

Apple Inc.

US : U.S.: Nasdaq

$ 127.83

+0.69 +0.54%

Volume: 90.76M

Jan. 19, 2021 4:00p

P/E Ratio

39.13

Dividend Yield

0.64%

Market Cap

$2138.91 billion

Rev. per Employee

$1.86M

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Hon Hai Precision Industry Co. Ltd.

TW : Taiwan

NT$ 114.50

-0.50 -0.43%

Volume: 87.29M

Jan. 20, 2021 11:17a

P/E Ratio

15.49

Dividend Yield

3.67%

Market Cap

NT$1580.21 billion

Rev. per Employee

N/A

/zigman2/quotes/205520950/delayed

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Hon Hai Precision Industry Co. Ltd. GDR Reg S

US : U.S.: OTC

$ 8.37

-0.08 -0.95%

Volume: 319,689

Jan. 19, 2021 3:59p

P/E Ratio

16.98

Dividend Yield

2.46%

Market Cap

$57.22 billion

Rev. per Employee

N/A

/zigman2/quotes/204226570/delayed

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LG Display Co. Ltd.

KR : S. Korea: KRX

₩ 20,950.00

-50.00 -0.24%

Volume: 2.24M

Jan. 20, 2021 12:17p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

₩7388.89 billion

Rev. per Employee

₩880.39M

/zigman2/quotes/204466928/composite

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LG Display Co. Ltd. ADR

US : U.S.: NYSE

$ 9.67

+0.17 +1.79%

Volume: 531,158

Jan. 19, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$6.85 billion

Rev. per Employee

$754,931

/zigman2/quotes/209800866/delayed

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Samsung Electronics Co. Ltd.

KR : S. Korea: KRX

₩ 87,100.00

+100.00 +0.11%

Volume: 15.47M

Jan. 20, 2021 12:17p

P/E Ratio

23.79

Dividend Yield

1.63%

Market Cap

₩568818.93 billion

Rev. per Employee

₩2.19B

/zigman2/quotes/202367843/delayed

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Samsung Electronics Co. Ltd.

US : U.S.: OTC

$ 44.20

0.00 0.00%

Volume: 350.00

Jan. 15, 2021 5:20p

P/E Ratio

14.41

Dividend Yield

N/A

Market Cap

N/A

Rev. per Employee

$1.88M

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BHP Group Ltd.

AU : Australia: Sydney

$ 46.40

+0.53 +1.14%

Volume: 1.99M

Jan. 20, 2021 2:17p

P/E Ratio

19.90

Dividend Yield

3.77%

Market Cap

$212.82 billion

Rev. per Employee

N/A

/zigman2/quotes/208108397/composite

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BHP Group Ltd. ADR

US : U.S.: NYSE

$ 71.44

+0.83 +1.18%

Volume: 3.43M

Jan. 19, 2021 4:00p

P/E Ratio

22.78

Dividend Yield

3.36%

Market Cap

$167.46 billion

Rev. per Employee

N/A

/zigman2/quotes/203840223/delayed

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Newcrest Mining Ltd.

AU : Australia: Sydney

$ 27.00

+0.58 +2.20%

Volume: 1.25M

Jan. 20, 2021 2:17p

P/E Ratio

21.65

Dividend Yield

1.32%

Market Cap

$21.36 billion

Rev. per Employee

$6.29M

/zigman2/quotes/206026738/delayed

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Newcrest Mining Ltd.

US : U.S.: OTC

$ 20.27

+0.06 +0.30%

Volume: 3,204

Jan. 19, 2021 2:42p

P/E Ratio

24.39

Dividend Yield

N/A

Market Cap

$16.73 billion

Rev. per Employee

$4.22M