Bulletin
Investor Alert

Asia Markets Archives | Email alerts

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

Most Asian stocks extend fall; Hong Kong rebounds

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    NIKKEI 225 Index (NIK)
  • X
    KOSPI Composite Index (180721)
  • X
    S&P/ASX 200 Benchmark Index (XJO)

or Cancel Already have a watchlist? Log In

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 +0.23%  ended down 0.8%, bringing its week-to-date losses to 1.5%, while South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.02%  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 +0.36% dipped 0.4%, losing 0.9% so far this week.

China’s Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 +1.10%  lost 0.1% and Taiwan’s Taiex  gave up 0.4% while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +1.07%  ended 0.5% higher after a volatile trading session that saw the benchmark swing in both directions.

Click to Play

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 +0.48% /zigman2/quotes/207173990/composite HMC +1.19%  fell 1.5% and Toyota Motor Co. /zigman2/quotes/203803129/delayed JP:7203 -0.54%   /zigman2/quotes/200537742/composite TM -0.04%  lost 1.1% in Japan, while Hyundai Motor Co. /zigman2/quotes/204364212/delayed HYMTF -0.65%  fell 1% and affiliate Kia Motors Corp. /zigman2/quotes/205439169/delayed KIMTF 0.00% slid 1.6% in South Korea.

Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 -0.28%   /zigman2/quotes/208567357/composite SNE +0.14% dropped 2.9%, and Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 -0.96%   , 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/delayed 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 +1.07% /zigman2/quotes/209928981/delayed FUJIF -1.05%  falling 3.1%, while Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 +0.12% /zigman2/quotes/207472799/delayed SHCAF +2.67%  lost 2.9%, as the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0157%  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 -0.79%   /zigman2/quotes/206936121/delayed IPXHF -5.31%  dropped 0.8%.

Australian energy firms declining included Woodside Petroleum Ltd. /zigman2/quotes/203437212/delayed AU:WPL +0.45% /zigman2/quotes/206770672/delayed WOPEF +0.04% , down 1.4% and Linc Energy Ltd,  , lower by 3.9%.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
23,354.40
+54.31 +0.23%
Volume: 0.00
Dec. 6, 2019 3:15p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,081.85
+21.11 +1.02%
Volume: 440,188
Dec. 6, 2019 6:01p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,707.00
+24.00 +0.36%
Volume: 459,318
Dec. 6, 2019 5:09p
loading...
/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.60
+0.17 +1.10%
Volume: 71.26M
Dec. 6, 2019 3:00p
P/E Ratio
10.36
Dividend Yield
0.93%
Market Cap
¥267.86 billion
Rev. per Employee
¥6.12M
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,498.37
+281.33 +1.07%
Volume: 1.64M
Dec. 6, 2019 4:08p
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,144.00
+15.00 +0.48%
Volume: 2.97M
Dec. 6, 2019 3:00p
P/E Ratio
10.56
Dividend Yield
3.56%
Market Cap
¥5532.14 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 29.01
+0.34 +1.19%
Volume: 498,132
Dec. 6, 2019 6:30p
P/E Ratio
10.70
Dividend Yield
3.02%
Market Cap
$51.05 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 7,727.00
-42.00 -0.54%
Volume: 3.39M
Dec. 6, 2019 3:00p
P/E Ratio
11.60
Dividend Yield
2.85%
Market Cap
¥21551.30 billion
Rev. per Employee
¥81.43M
loading...
/zigman2/quotes/200537742/composite
US : U.S.: NYSE
$ 142.77
-0.06 -0.04%
Volume: 93,854
Dec. 6, 2019 6:30p
P/E Ratio
11.72
Dividend Yield
2.50%
Market Cap
$199.10 billion
Rev. per Employee
$737,463
loading...
/zigman2/quotes/204364212/delayed
US : U.S.: OTC
$ 30.50
-0.20 -0.65%
Volume: 0.00
Dec. 5, 2019 5:19p
P/E Ratio
9.08
Dividend Yield
N/A
Market Cap
$1.31 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205439169/delayed
US : U.S.: OTC
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
0.00
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,068.00
-20.00 -0.28%
Volume: 3.81M
Dec. 6, 2019 3:00p
P/E Ratio
10.60
Dividend Yield
0.57%
Market Cap
¥8696.37 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 65.29
+0.09 +0.14%
Volume: 1.03M
Dec. 6, 2019 6:30p
P/E Ratio
10.84
Dividend Yield
0.36%
Market Cap
$80.33 billion
Rev. per Employee
$654,652
loading...
/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 1,034.50
-10.00 -0.96%
Volume: 6.34M
Dec. 6, 2019 3:00p
P/E Ratio
8.89
Dividend Yield
2.90%
Market Cap
¥2413.34 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/202367843/delayed
US : U.S.: OTC
$ 44.20
0.00 0.00%
Volume: 0.00
Dec. 3, 2019 5:19p
P/E Ratio
14.05
Dividend Yield
N/A
Market Cap
$300.24 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209829801/delayed
JP : Japan: Tokyo
¥ 5,197.00
+55.00 +1.07%
Volume: 1.06M
Dec. 6, 2019 3:00p
P/E Ratio
16.10
Dividend Yield
1.83%
Market Cap
¥2127.55 billion
Rev. per Employee
¥31.17M
loading...
/zigman2/quotes/209928981/delayed
US : U.S.: OTC
$ 46.13
-0.49 -1.05%
Volume: 0.00
Dec. 3, 2019 2:49p
P/E Ratio
15.68
Dividend Yield
N/A
Market Cap
$19.70 billion
Rev. per Employee
$282,319
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,668.00
+2.00 +0.12%
Volume: 1.43M
Dec. 6, 2019 3:00p
P/E Ratio
17.61
Dividend Yield
1.50%
Market Cap
¥1018.89 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/207472799/delayed
US : U.S.: OTC
$ 15.38
+0.40 +2.67%
Volume: 0.00
Dec. 4, 2019 5:19p
P/E Ratio
17.93
Dividend Yield
N/A
Market Cap
$9.43 billion
Rev. per Employee
$454,670
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.6050
+0.0170 +0.0157%
Volume: 0.0000
Dec. 6, 2019 4:59p
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 1,064.50
-8.50 -0.79%
Volume: 3.87M
Dec. 6, 2019 3:00p
P/E Ratio
11.82
Dividend Yield
2.54%
Market Cap
¥1554.38 billion
Rev. per Employee
¥291.81M
loading...
/zigman2/quotes/206936121/delayed
US : U.S.: OTC
$ 8.59
-0.48 -5.31%
Volume: 0.00
Dec. 5, 2019 5:19p
P/E Ratio
10.47
Dividend Yield
N/A
Market Cap
$12.54 billion
Rev. per Employee
$2.64M
loading...
/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 33.72
+0.15 +0.45%
Volume: 999,909
Dec. 6, 2019 4:10p
P/E Ratio
18.23
Dividend Yield
5.35%
Market Cap
$31.72 billion
Rev. per Employee
$1.92M
loading...
/zigman2/quotes/206770672/delayed
US : U.S.: OTC
$ 23.00
+0.01 +0.04%
Volume: 0.00
Nov. 27, 2019 9:46a
P/E Ratio
17.31
Dividend Yield
5.52%
Market Cap
$21.66 billion
Rev. per Employee
$1.43M
loading...
1 2
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.