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June 26, 2012, 4:23 a.m. EDT

Most Asian stocks extend fall; Hong Kong rebounds

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By Sarah Turner and V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Most Asian markets extended their recent decline Tuesday as fresh concerns about Europe, including a possible bailout for Cyprus, emerged in the run-up to this week’s European crisis summit.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +1.83%  ended down 0.8%, bringing its week-to-date losses to 1.5%, while South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.65%  slipped 0.4% for a loss of 1.6% since Friday evening.

Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO -0.71% dipped 0.4%, losing 0.9% so far this week.

China’s Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 +10.04%  lost 0.1% and Taiwan’s Taiex  gave up 0.4% while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +3.81%  ended 0.5% higher after a volatile trading session that saw the benchmark swing in both directions.

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India tries to revive the rupee

India's central bank raises the foreign-investment cap on government bonds, to little effect.

Asian losses Monday had spread to the U.S. overnight, on faded hopes that a European Union meeting due to start Thursday would produce a blueprint for tackling the region’s problems, and as Cyprus became the latest European country to request financial aid. Read more on Cyprus.

“Risk assets continued their slide ahead of this week’s European Union summit,” said Barclays Capital strategists. “We believe the EU summit ... will yield more strong rhetoric in support of a road map toward tighter fiscal integration rather than the endpoint itself.”

Chances of successful negotiations between Greece and its European partners at the summit also appeared to diminish Monday, after the country’s finance minister reportedly resigned just four days after being appointed to the position and three days after hospitalization for nausea and dizziness. Read more on Greek finance minister’s departure.

Exporters pressured

Concern about Europe helped make blue-chip exporters among Asia’s major decliners Tuesday.

Car makers took a hit, as Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 +1.61% /zigman2/quotes/207173990/composite HMC +1.24%  fell 1.5% and Toyota Motor Co. /zigman2/quotes/203803129/delayed JP:7203 +1.45%   /zigman2/quotes/200537742/composite TM +0.47%  lost 1.1% in Japan, while Hyundai Motor Co. /zigman2/quotes/204364212/composite HYMTF -8.91%  fell 1% and affiliate Kia Motors Corp. /zigman2/quotes/205439169/composite KIMTF +8.21% slid 1.6% in South Korea.

Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 +0.92%   /zigman2/quotes/208567357/composite SNE +0.43% dropped 2.9%, and Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 +3.42%   , traded down 1% in Tokyo, with the pair failing to get a boost from an announced tie-up to develop next-generation OLED televisions. Read more on Sony-Panasonic alliance.

Some reports cast the move as an effort to compete with Korean electronics giant Samsung Electronics Co. /zigman2/quotes/202367843/composite SSNLF 0.00% , which rose 0.6% in Seoul, managing to take back a portion of the sharp losses made in the previous session, following reports of pressure on its earnings.

A stronger yen also hurt many Japanese names, with Fujifilm Holdings Corp. /zigman2/quotes/209829801/delayed JP:4901 +0.71% /zigman2/quotes/209928981/composite FUJIF +2.91%  falling 3.1%, while Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 +5.60% /zigman2/quotes/207472799/composite SHCAF +3.91%  lost 2.9%, as the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0037%  bought 79.50 yen, down from its ¥80.46 level at the end of last week.

The yen is often sought as a safe haven when riskier assets sell off, along with the U.S. dollar. The U.S. currency gained on Monday, and commodities — which are mostly priced in dollars and often move inversely with the dollar — came under some pressure.

Benchmark U.S. oil futures remained close to $79 a barrel mark in Asian electronic trading on Monday, dragging on some energy shares. Japan’s Inpex Corp. /zigman2/quotes/206689846/delayed JP:1605 +0.67%   /zigman2/quotes/206936121/composite IPXHF -2.21%  dropped 0.8%.

Australian energy firms declining included Woodside Petroleum Ltd. /zigman2/quotes/203437212/delayed AU:WPL -0.32% /zigman2/quotes/206770672/composite WOPEF +0.56% , down 1.4% and Linc Energy Ltd,  , lower by 3.9%.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
22,714.44
+407.96 +1.83%
Volume: 0.00
July 6, 2020 3:15p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,187.93
+35.52 +1.65%
Volume: 666,902
July 6, 2020 3:32p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,014.60
-43.30 -0.71%
Volume: 934.00
July 7, 2020 8:30a
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/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.68
+1.43 +10.04%
Volume: 471.15M
July 6, 2020 3:00p
P/E Ratio
10.90
Dividend Yield
1.39%
Market Cap
¥276.53 billion
Rev. per Employee
¥6.12M
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,339.16
+966.04 +3.81%
Volume: 4.89M
July 6, 2020 4:08p
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/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,813.50
+44.50 +1.61%
Volume: 2.77M
July 6, 2020 3:00p
P/E Ratio
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Dividend Yield
0.00%
Market Cap
¥4780.98 billion
Rev. per Employee
¥73.06M
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/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 26.15
+0.32 +1.24%
Volume: 727,723
July 6, 2020 4:00p
P/E Ratio
10.96
Dividend Yield
3.30%
Market Cap
$44.11 billion
Rev. per Employee
$661,808
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/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 6,859.00
+98.00 +1.45%
Volume: 4.14M
July 6, 2020 3:00p
P/E Ratio
9.44
Dividend Yield
3.21%
Market Cap
¥18701.96 billion
Rev. per Employee
¥81.43M
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/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 126.98
+0.59 +0.47%
Volume: 285,736
July 6, 2020 4:00p
P/E Ratio
8.00
Dividend Yield
2.84%
Market Cap
$174.18 billion
Rev. per Employee
$737,463
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/zigman2/quotes/204364212/composite
US : U.S.: OTC
$ 23.00
-2.25 -8.91%
Volume: 490.00
July 6, 2020 1:15p
P/E Ratio
4.71
Dividend Yield
N/A
Market Cap
$19.36 billion
Rev. per Employee
N/A
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US : U.S.: OTC
$ 30.30
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Volume: 100.00
Nov. 20, 2017 12:00a
P/E Ratio
9.93
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,580.00
+69.00 +0.92%
Volume: 3.21M
July 6, 2020 3:00p
P/E Ratio
16.45
Dividend Yield
0.59%
Market Cap
¥9164.62 billion
Rev. per Employee
¥72.37M
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/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 70.53
+0.30 +0.43%
Volume: 1.40M
July 6, 2020 4:00p
P/E Ratio
16.62
Dividend Yield
0.43%
Market Cap
$85.03 billion
Rev. per Employee
$654,652
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/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 974.20
+32.20 +3.42%
Volume: 7.82M
July 6, 2020 3:00p
P/E Ratio
10.07
Dividend Yield
3.08%
Market Cap
¥2197.65 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/202367843/composite
US : U.S.: OTC
$ 44.20
0.00 0.00%
Volume: 0.00
June 30, 2020 5:20p
P/E Ratio
16.69
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
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/zigman2/quotes/209829801/delayed
JP : Japan: Tokyo
¥ 4,669.00
+33.00 +0.71%
Volume: 1.31M
July 6, 2020 3:00p
P/E Ratio
15.33
Dividend Yield
2.03%
Market Cap
¥1853.06 billion
Rev. per Employee
¥31.17M
loading...
/zigman2/quotes/209928981/composite
US : U.S.: OTC
$ 42.74
+1.21 +2.91%
Volume: 136.00
July 6, 2020 11:11a
P/E Ratio
15.21
Dividend Yield
N/A
Market Cap
$17.19 billion
Rev. per Employee
$282,319
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,188.00
+63.00 +5.60%
Volume: 2.64M
July 6, 2020 3:00p
P/E Ratio
38.27
Dividend Yield
1.52%
Market Cap
¥687.20 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/207472799/composite
US : U.S.: OTC
$ 11.15
+0.42 +3.91%
Volume: 100.00
July 6, 2020 10:23a
P/E Ratio
38.80
Dividend Yield
N/A
Market Cap
$6.32 billion
Rev. per Employee
$454,670
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.3880
-0.0040 -0.0037%
Volume: 0.0000
July 6, 2020 6:56p
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/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 665.90
+4.40 +0.67%
Volume: 7.59M
July 6, 2020 3:00p
P/E Ratio
8.39
Dividend Yield
3.60%
Market Cap
¥965.92 billion
Rev. per Employee
¥291.81M
loading...
/zigman2/quotes/206936121/composite
US : U.S.: OTC
$ 6.65
-0.15 -2.21%
Volume: 0.00
July 2, 2020 5:20p
P/E Ratio
9.10
Dividend Yield
N/A
Market Cap
$10.19 billion
Rev. per Employee
$2.64M
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/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 21.58
-0.07 -0.32%
Volume: 1.56M
July 6, 2020 4:10p
P/E Ratio
41.75
Dividend Yield
6.32%
Market Cap
$20.62 billion
Rev. per Employee
$1.92M
loading...
/zigman2/quotes/206770672/composite
US : U.S.: OTC
$ 15.00
+0.08 +0.56%
Volume: 1,224
July 6, 2020 3:38p
P/E Ratio
40.82
Dividend Yield
6.07%
Market Cap
$14.33 billion
Rev. per Employee
$1.43M
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