Asian markets lag as oil stocks slip further

By Dow Jones Newswires

Bloomberg News

The headquarters of Cnooc Ltd. in Beijing. Cnooc shares fell sharply Wednesday.

Asian stock markets posted modest losses Wednesday, after oil prices tumbled 7% Tuesday, marking their 12th straight session of losses and weighing on global energy stocks.

Crude prices   , now in a bear market, were trying for mild gains in early trading Wednesday.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.18%   traded up and down before a finish at up nearly 0.2%. The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0758%   was at ¥113.92, versus ¥113.80 in late New York trade, while the 20-year bond yield was down a half-basis point at 0.64% following Tuesday’s drop in U.S. Treasury yields. Oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 +0.13%   fell 1.8%, while Japan Petroleum Exploration Co. /zigman2/quotes/201212147/delayed JP:1662 +1.76%   dropped 2.1%. On the positive side, SoftBank /zigman2/quotes/207303954/delayed JP:9984 +0.77%   jumped 4.7% and TDK /zigman2/quotes/208948266/delayed JP:6762 +0.89%   was up 3%.

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.83%   was down 0.5% amid slides in mainland China oil heavyweights following crude’s slump. Cnooc /zigman2/quotes/203421416/delayed HK:883 +1.49%   was down 4.6% and Sinopec /zigman2/quotes/202085942/delayed HK:386 +2.57%   fell 2.2%. Meanwhile, Tencent /zigman2/quotes/204605823/delayed HK:700 +0.67%   was off 0.8% ahead of its after-the-bell third-quarter earnings report.

Chinese stock benchmarks were mixed early on but both fell by the close, with the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.16%   off 0.9% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.39%   down 0.4%. PetroChina /zigman2/quotes/206980083/delayed CN:601857 +0.25%   slid nearly 3% to hit three-month lows.

Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.11%  was down 1.7%, again dragged down by energy and financial stocks. Woodside Petroleum   was down 2.5%, as was Oil Search  fell 2.6%. New Zealand’s NZX-50 /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.23%   was down 0.4%.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.09%  dropped slightly, while benchmark indexes in Singapore /zigman2/quotes/210597985/delayed SG:STI -0.47%  and Taiwan   were mixed.

/zigman2/quotes/210597971/delayed

Add to watchlist JP:NIK

NIKKEI 225 Index

JP : Nikkei

32,371.90

+56.85 +0.18%

Volume: 0.00

Sept. 27, 2023 3:15p

/zigman2/quotes/210561789/realtime/sampled

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Japanese Yen

US : Tullett Prebon

149.1790

+0.1130 +0.0758%

Volume: 0.0000

Sept. 27, 2023 8:17a

/zigman2/quotes/206689846/delayed

Add to watchlist JP:1605

Inpex Corp.

JP : Japan: Tokyo

¥ 2,267.00

+3.00 +0.13%

Volume: 5.41M

Sept. 27, 2023 3:00p

P/E Ratio

5.93

Dividend Yield

3.26%

Market Cap

¥3025.34 billion

Rev. per Employee

¥685.19M

/zigman2/quotes/201212147/delayed

Add to watchlist JP:1662

Japan Petroleum Exploration Co. Ltd.

JP : Japan: Tokyo

¥ 5,790.00

+100.00 +1.76%

Volume: 346,100

Sept. 27, 2023 3:00p

P/E Ratio

4.85

Dividend Yield

3.45%

Market Cap

¥306.38 billion

Rev. per Employee

¥209.77M

/zigman2/quotes/207303954/delayed

Add to watchlist JP:9984

SoftBank Group Corp.

JP : Japan: Tokyo

¥ 6,419.00

+49.00 +0.77%

Volume: 8.33M

Sept. 27, 2023 3:00p

P/E Ratio

6.37

Dividend Yield

0.69%

Market Cap

¥7769.83 billion

Rev. per Employee

¥103.51M

/zigman2/quotes/208948266/delayed

Add to watchlist JP:6762

TDK Corp.

JP : Japan: Tokyo

¥ 5,460.00

+48.00 +0.89%

Volume: 2.53M

Sept. 27, 2023 3:00p

P/E Ratio

21.28

Dividend Yield

2.12%

Market Cap

¥2107.59 billion

Rev. per Employee

¥21.12M

/zigman2/quotes/210598030/delayed

Add to watchlist HK:HSI

Hang Seng Index

HK : Hong Kong Exchange

17,611.87

+144.97 +0.83%

Volume: 1.57M

Sept. 27, 2023 4:09p

/zigman2/quotes/203421416/delayed

Add to watchlist HK:0883

CNOOC Ltd.

HK : Hong Kong

$ 13.60

+0.20 +1.49%

Volume: 57.72M

Sept. 27, 2023 4:08p

P/E Ratio

4.24

Dividend Yield

9.85%

Market Cap

$682.50 billion

Rev. per Employee

$23.81M

/zigman2/quotes/202085942/delayed

Add to watchlist HK:0386

China Petroleum & Chemical Corp.

HK : Hong Kong

$ 4.39

+0.11 +2.57%

Volume: 106.65M

Sept. 27, 2023 4:08p

P/E Ratio

8.86

Dividend Yield

8.53%

Market Cap

$731.60 billion

Rev. per Employee

$9.00M

/zigman2/quotes/204605823/delayed

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Tencent Holdings Ltd.

HK : Hong Kong

$ 302.00

+2.00 +0.67%

Volume: 14.20M

Sept. 27, 2023 4:08p

P/E Ratio

13.25

Dividend Yield

0.79%

Market Cap

$2883.65 billion

Rev. per Employee

$6.07M

/zigman2/quotes/210598127/delayed

Add to watchlist CN:SHCOMP

Shanghai Composite Index

CN : China: Shanghai

3,107.32

+5.04 +0.16%

Volume: 24.05B

Sept. 27, 2023 3:00p

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Add to watchlist CN:399106

Shenzhen Composite Index

CN : Shenhzen Stock Exchange

1,901.98

+7.30 +0.39%

Volume: 34.53B

Sept. 27, 2023 3:00p

/zigman2/quotes/206980083/delayed

Add to watchlist CN:601857

PetroChina Co. Ltd. A

CN : China: Shanghai

¥ 8.00

+0.02 +0.25%

Volume: 75.46M

Sept. 27, 2023 3:00p

P/E Ratio

9.62

Dividend Yield

5.38%

Market Cap

¥1409.43 billion

Rev. per Employee

¥7.43M

/zigman2/quotes/210598100/delayed

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S&P/ASX 200 Benchmark Index

AU : S&P ASX

7,030.30

-7.90 -0.11%

Volume: 761,943

Sept. 27, 2023 5:04p

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S&P/NZX 50 Gross Index

NZ : New Zealand: NZX

11,316.81

-26.06 -0.23%

Volume: 0.00

Sept. 27, 2023 5:01p

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KOSPI Composite Index

KR : Korea Exchange

2,465.07

+2.10 +0.09%

Volume: 366,241

Sept. 27, 2023 6:05p

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FTSE Straits Times Index

SG : Singapore: SGX

3,200.03

-15.04 -0.47%

Volume: 0.00

Sept. 27, 2023 5:20p