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Jan. 24, 2013, 3:21 a.m. EST

Most Asia stocks fall on Apple results, China data

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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.

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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
KR : Korea Exchange
3,096.05
+3.39 +0.11%
Volume: 790,720
Jan. 20, 2021 12:17p
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/zigman2/quotes/206600939/delayed
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
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,746.13
+103.85 +0.35%
Volume: 1.75M
Jan. 20, 2021 11:22a
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/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
28,504.38
-129.08 -0.45%
Volume: 0.00
Jan. 20, 2021 11:30a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,779.80
+37.20 +0.55%
Volume: 275,843
Jan. 20, 2021 2:17p
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/zigman2/quotes/202934861/composite
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
$1.86M
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/zigman2/quotes/207256514/delayed
TW : Taiwan
NT$ 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
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/zigman2/quotes/205520950/delayed
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
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/zigman2/quotes/204226570/delayed
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
loading...
/zigman2/quotes/204466928/composite
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
loading...
/zigman2/quotes/209800866/delayed
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
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/zigman2/quotes/202367843/delayed
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
loading...
/zigman2/quotes/201448516/delayed
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
loading...
/zigman2/quotes/208108397/composite
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
loading...
/zigman2/quotes/203840223/delayed
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
loading...
/zigman2/quotes/206026738/delayed
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
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