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Aug. 9, 2018, 3:43 a.m. EDT

Asian stocks closed mostly higher even as drop in oil prices weighed on energy stocks

Chinese markets make gains; Nikkei slips

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By Dow Jones Newswire


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Brent crude prices fell to their lowest level since July 17 on Wednesday.

Asian stocks markets finished predominately higher Thursday, underscored by big rebounds in China’s stock benchmarks, after muted moves in the U.S. and Europe overnight partly on trade-war jitters. Japan’s Nikkei, however, finished the session with a modest loss, hampered by a further uptick for the yen.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1688%  fell to session lows of ¥110.98 versus ¥110.95 in late New York trading, with the Japanese equity gauge lagging its peers amid fresh U.S.-China trade concerns. The Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.79%   closed down 0.2%, with the oil/coal-products sector leading the way lower, skidding down following the overnight slump in oil prices.

Shares of Japan Petroleum /zigman2/quotes/201212147/delayed JP:1662 -1.69%  tumbled by 10%. Japanese skin-care giant Shiseido /zigman2/quotes/207601624/delayed JP:4911 -2.37% , meanwhile, rebounded strongly Thursday, rising 7.8%, after selling off sharply, down 4.4% on Wednesday, following its earnings report, in which it raised its yearly guidance. Shiseido shares have soared 49.5% so far this year.

After starting with modest declines, Chinese stocks staged a potent recovery in the wake of Wednesday’s sizable pullback, highlighting a volatile stretch for Beijing’s stock benchmarks amid tariff spats with the U.S. Perhaps helping sentiment, inflation numbers came in higher than expected last month, a possible sign that demand is holding up. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.83%  finished up 1.8% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -2.71%   jumped 2.7%. Consumer and cyclical stocks were the top performers, even as oil names confined gains.

Meanwhile, the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.73%   put in a 0.8% gain, logging its fourth straight positive finish. Oil stocks fell though, with PetroChina /zigman2/quotes/204979431/delayed HK:857 -0.94%   and CNOOC /zigman2/quotes/203421416/delayed HK:883 -1.73%   losing 1% and 1.2%, respectively. Property stocks also came under pressure after major lending local banks announced plans to finally raise interest rates — perhaps signalling the end to a decade of low borrowing costs. Shares of Hang Lung Properties /zigman2/quotes/200230831/delayed HK:101 -1.55%  ended the day off 2.3% while those for New World Development /zigman2/quotes/202357413/delayed HK:17 0.00%   ended flat, according to FactSet data.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.28%   added 0.1%, marking its third consecutive gain, even as auto giant Hyundai /zigman2/quotes/206684590/delayed KR:005380 0.00%  saw its stock finish down by 1.2%. Stocks in Taiwan  wrapped up off 0.4%.

Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -2.31%   brushed aside energy losses to end up by 0.5%. Santos shares /zigman2/quotes/207349564/delayed AU:STO -3.23% finished down 2.3%, shares of Woodside Petroleum /zigman2/quotes/203437212/delayed AU:WPL -2.96%  lost 0.4%. New Zealand’s NZX 50 /zigman2/quotes/211587880/delayed NZ:NZ50GR -1.58%   rebounded 0.8% following underperformance the past few days as Ryman Healthcare, /zigman2/quotes/207688158/delayed NZ:RYM -0.81%   a retirement-village operator, jumped 2.8%, touching a record.

/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
110.3910
+0.1860 +0.1688%
Volume: 0.0000
Feb. 26, 2020 5:50a
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/zigman2/quotes/210597971/delayed
JP : Nikkei
22,426.19
-179.22 -0.79%
Volume: 0.00
Feb. 26, 2020 3:15p
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/zigman2/quotes/201212147/delayed
JP : Japan: Tokyo
¥ 2,561.00
-44.00 -1.69%
Volume: 255,000
Feb. 26, 2020 3:00p
P/E Ratio
7.35
Dividend Yield
1.95%
Market Cap
¥148.88 billion
Rev. per Employee
¥156.48M
loading...
/zigman2/quotes/207601624/delayed
JP : Japan: Tokyo
¥ 6,666.00
-162.00 -2.37%
Volume: 3.14M
Feb. 26, 2020 3:00p
P/E Ratio
36.23
Dividend Yield
0.90%
Market Cap
¥2727.35 billion
Rev. per Employee
¥29.24M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,987.93
-25.12 -0.83%
Volume: 46.90B
Feb. 26, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,890.60
-52.56 -2.71%
Volume: 68.65B
Feb. 26, 2020 3:00p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,696.49
-196.74 -0.73%
Volume: 2.04M
Feb. 26, 2020 4:08p
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/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 3.16
-0.03 -0.94%
Volume: 150.22M
Feb. 26, 2020 4:08p
P/E Ratio
12.12
Dividend Yield
4.99%
Market Cap
HK$583.84 billion
Rev. per Employee
HK$5.32M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 11.36
-0.20 -1.73%
Volume: 78.66M
Feb. 26, 2020 4:08p
P/E Ratio
7.68
Dividend Yield
6.43%
Market Cap
HK$516.13 billion
Rev. per Employee
HK$13.96M
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/zigman2/quotes/200230831/delayed
HK : Hong Kong
HK$ 17.76
-0.28 -1.55%
Volume: 14.51M
Feb. 26, 2020 4:08p
P/E Ratio
12.94
Dividend Yield
4.28%
Market Cap
HK$81.14 billion
Rev. per Employee
HK$2.12M
loading...
/zigman2/quotes/202357413/delayed
HK : Hong Kong
HK$ 9.92
0.00 0.00%
Volume: 8.98M
Feb. 26, 2020 4:08p
P/E Ratio
5.59
Dividend Yield
5.14%
Market Cap
HK$101.45 billion
Rev. per Employee
HK$1.84M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,076.77
-26.84 -1.28%
Volume: 810,937
Feb. 26, 2020 3:32p
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/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
122,500
0.00 0.00%
Volume: 1.00M
Feb. 26, 2020 3:30p
P/E Ratio
15.76
Dividend Yield
3.27%
Market Cap
₩32221.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,708.10
-158.50 -2.31%
Volume: 1.01M
Feb. 26, 2020 5:38p
loading...
/zigman2/quotes/207349564/delayed
AU : Australia: Sydney
$ 7.19
-0.24 -3.23%
Volume: 7.88M
Feb. 26, 2020 4:10p
P/E Ratio
15.60
Dividend Yield
2.32%
Market Cap
$15.44 billion
Rev. per Employee
$2.29M
loading...
/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 29.50
-0.90 -2.96%
Volume: 4.36M
Feb. 26, 2020 4:10p
P/E Ratio
57.07
Dividend Yield
4.68%
Market Cap
$28.59 billion
Rev. per Employee
$1.92M
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
11,533.86
-185.37 -1.58%
Volume: 0.00
Feb. 26, 2020 5:01p
loading...
/zigman2/quotes/207688158/delayed
NZ : New Zealand: NZX
$ 15.95
-0.13 -0.81%
Volume: 534,901
Feb. 26, 2020 5:00p
P/E Ratio
23.13
Dividend Yield
1.47%
Market Cap
$8.04 billion
Rev. per Employee
N/A
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