Asia Markets Archives | Email alerts

Feb. 17, 2017, 5:31 a.m. EST

Asian stocks hit the brakes at end of choppy week

Nikkei slumps, Samsung’s decline weighs on Kospi

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
    S&P/ASX 200 Benchmark Index (XJO)
  • X
    Hang Seng Index (HSI)

or Cancel Already have a watchlist? Log In

By Ese Erheriene


Bloomberg News
Friday’s declines capped a week of choppy trading in Asia.

Global investors showed caution Thursday, as a weaker U.S. dollar and profit-taking sent major Asian stock indexes lower, despite a strong overnight lead from Wall Street.

Following a surge in regional equities Wednesday, appetite for risk cooled amid currency headwinds and broader global political uncertainty. The moves reflect a pattern of choppy trading in recent weeks.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +0.0082%   closed down 0.6% at 19,234.62, hitting a six-day low earlier in the session at 19,173.53 points. In Australia, the S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.68%   finished 0.2% lower, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.19%   fell 0.3% and Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.03%   ended flat.

“A week-long ‘Trump rally’ has possibly to come to an end,” said Jane Fu, a sales trader at CMC Markets.

Overnight in the U.S., the S&P 500 ended down 0.1%, capping its longest run of gains since 2013, after a week that saw the major U.S. indexes hit successive new highs. The Nasdaq Composite also fell 0.1%, though the Dow Jones Industrial Average edged up less than 0.1% to a fresh high.

In Japan, real estate, energy, and auto stocks led the declines. Major property developer Mitsui Fudosan /zigman2/quotes/205394574/delayed JP:8801 +0.99%   fell 3%, oil explorer Inpex /zigman2/quotes/206689846/delayed JP:1605 +2.63%   lost 1% and Suzuki Motor /zigman2/quotes/201794956/delayed JP:7269 -3.12%   fell 1.8%.

In Korea, Samsung Electronics /zigman2/quotes/209800866/delayed KR:005930 +0.43%   shares fell after a court approved an arrest warrant for Lee Jae-yong, the company’s vice chairman and de facto leader of the Samsung conglomerate, as part of a wider corruption scandal that saw the country’s president impeached. The stock, which has the largest weighting on Korea’s benchmark Kospi index, was last down 1.5%.

Elsewhere, Singapore’s economy expanded 12.3% from the previous quarter on a seasonally adjusted and annualized basis in the October-to-December period, the Ministry of Trade and Industry said in a statement Friday. That was a faster pace of expansion than an initial estimate of 9.1%, helping push growth for the year to 2.0%, well above the 1.5% upper range of a government forecast for 2016.

Singapore’s Strait Times Index /zigman2/quotes/210597985/delayed SG:STI -2.60%   rose 0.3%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
17,820.19
+1.47 +0.0082%
Volume: 0.00
April 3, 2020 3:15p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,067.50
-86.80 -1.68%
Volume: 1.07M
April 3, 2020 4:26p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,236.11
-43.95 -0.19%
Volume: 1.87M
April 3, 2020 4:08p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,725.44
+0.58 +0.03%
Volume: 1.00M
April 3, 2020 3:32p
loading...
/zigman2/quotes/205394574/delayed
JP : Japan: Tokyo
¥ 1,836.50
+18.00 +0.99%
Volume: 7.43M
April 3, 2020 3:00p
P/E Ratio
10.67
Dividend Yield
2.40%
Market Cap
¥1792.54 billion
Rev. per Employee
¥101.67M
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 632.20
+16.20 +2.63%
Volume: 20.89M
April 3, 2020 3:00p
P/E Ratio
5.88
Dividend Yield
5.69%
Market Cap
¥923.14 billion
Rev. per Employee
¥291.81M
loading...
/zigman2/quotes/201794956/delayed
JP : Japan: Tokyo
¥ 2,498.50
-80.50 -3.12%
Volume: 3.97M
April 3, 2020 3:00p
P/E Ratio
10.12
Dividend Yield
2.96%
Market Cap
¥1212.60 billion
Rev. per Employee
¥59.39M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
47,000.00
+200.00 +0.43%
Volume: 22.78M
April 3, 2020 3:30p
P/E Ratio
14.85
Dividend Yield
3.01%
Market Cap
₩319255.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,389.29
-63.74 -2.60%
Volume: 0.00
April 3, 2020 5:20p
loading...

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.