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Aug. 21, 2018, 6:52 a.m. EDT

Japan’s Nikkei drops as yen maintains dollar advantage

Indexes in China gain with lift from financials, while Australian stocks retreat

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By Dow Jones Newswire


Bloomberg News
The U.S. dollar has fallen in 10 of the past 15 sessions versus the yen through Tuesday.

Asian markets were mixed Tuesday, as Chinese stocks largely rose and Japanese stocks overcame early session weakness.

Japan‘s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.03%  closed less than 0.1% higher, continuing Monday’s yen-fueled stock underperformance as the dollar’s losing streak hit five days.

The latest drop came after U.S. President Donald Trump raised some concerns about the Fed’s rate-hike cycle. The dollar hit eight-week lows against the yen in Asian trading, falling to ¥109.84 versus ¥110.07 in late New York action and ¥110.60 when Tokyo stock trading ended Monday before improving to ¥110.26 later Tuesday. The U.S. dollar had fallen in 10 of the past 15 sessions versus the yen through Tuesday.

However, the Nikkei has been holding up rather well with just a 1.5% decline in August as of Tuesday’s close. Insurance and shipping shares lagged Tuesday, as did big names such as Toyota /zigman2/quotes/203803129/delayed JP:7203 +1.20%  , SoftBank /zigman2/quotes/207303954/delayed JP:9984 +1.74%   and Fujitsu /zigman2/quotes/208459594/delayed JP:6702 -1.00%  .

Chinese stocks traded mostly higher, with big caps outperforming most other indexes in the region. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.21%   was up 1.3%, after rebounding 1.1% Monday, while the small-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.0056%   was up 1.3%. Financials again led the gains while energy lagged.

Hong Kong stocks gave up early gains, as Tencent /zigman2/quotes/204605823/delayed HK:700 +2.61%   took a breather following its days-long rebound, while insurers took the lead. The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.74%   was up 0.4%. AIA /zigman2/quotes/203565558/delayed HK:1299 +0.68%   jumped a further 1.7% ahead of its first-half report, while Ping An /zigman2/quotes/210315058/delayed HK:2318 +0.32%   and China Life /zigman2/quotes/202359856/delayed HK:2628 -0.67%   were up some 1%. Meanwhile, smartphone-component makers AAC /zigman2/quotes/201441510/delayed HK:2018 +0.57%  shot more than 8.5% higher and Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.61%  rebounded 8.8% following their recent swoons. CSPC Pharma /zigman2/quotes/200847219/delayed HK:1093 +5.91%   gained 9.8% to extend its post-earnings gain.

Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.76%   was up 0.9% after barely rising Monday, as Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.29%   and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +2.29%   posted solid gains, while Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 +7.67%   tumbled 1.5%.

Australian stocks have been an Asia-Pacific outperformer the past few months, with the country’s benchmark hitting 10½-year highs at a time others in the region are down for 2018. But the ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.38%   was the noted laggard Tuesday with a 0.9% drop on broad declines. Materials led the way, coming after a muted earnings report from mining heavyweight BHP /zigman2/quotes/201448516/delayed AU:BHP +4.94%  . It fell 1.8% Tuesday. In New Zealand, the NZX 50 /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.63%   rose 0.1% after setting a record closing high the previous day.

Singapore’s benchmark index /zigman2/quotes/210597985/delayed SG:STI +0.41%   lagged, while Taiwan   and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +1.85%   gained.

/zigman2/quotes/210597971/delayed
JP : Nikkei
26,809.37
+8.39 +0.03%
Volume: 0.00
Dec. 3, 2020 3:15p
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/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 7,164.00
+85.00 +1.20%
Volume: 6.35M
Dec. 3, 2020 3:00p
P/E Ratio
14.18
Dividend Yield
3.14%
Market Cap
¥19622.04 billion
Rev. per Employee
¥83.25M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 7,381.00
+126.00 +1.74%
Volume: 14.50M
Dec. 3, 2020 3:00p
P/E Ratio
33.72
Dividend Yield
0.00%
Market Cap
¥13719.03 billion
Rev. per Employee
¥76.45M
loading...
/zigman2/quotes/208459594/delayed
JP : Japan: Tokyo
¥ 13,865.00
-140.00 -1.00%
Volume: 484,900
Dec. 3, 2020 3:00p
P/E Ratio
19.47
Dividend Yield
1.44%
Market Cap
¥2804.82 billion
Rev. per Employee
¥29.89M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,442.14
-7.24 -0.21%
Volume: 29.85B
Dec. 3, 2020 3:01p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,290.33
+0.13 +0.0056%
Volume: 37.37B
Dec. 3, 2020 3:00p
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 589.00
+15.00 +2.61%
Volume: 15.56M
Dec. 3, 2020 4:08p
P/E Ratio
41.96
Dividend Yield
0.20%
Market Cap
HK$5492.89 billion
Rev. per Employee
HK$6.80M
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,728.50
+195.92 +0.74%
Volume: 2.83M
Dec. 3, 2020 4:08p
loading...
/zigman2/quotes/203565558/delayed
HK : Hong Kong
HK$ 88.90
+0.60 +0.68%
Volume: 17.29M
Dec. 3, 2020 4:08p
P/E Ratio
27.64
Dividend Yield
1.44%
Market Cap
HK$1065.29 billion
Rev. per Employee
HK$12.98M
loading...
/zigman2/quotes/210315058/delayed
HK : Hong Kong
HK$ 95.35
+0.30 +0.32%
Volume: 44.31M
Dec. 3, 2020 4:08p
P/E Ratio
12.75
Dividend Yield
2.43%
Market Cap
HK$1887.36 billion
Rev. per Employee
HK$3.35M
loading...
/zigman2/quotes/202359856/delayed
HK : Hong Kong
HK$ 17.90
-0.12 -0.67%
Volume: 42.53M
Dec. 3, 2020 4:08p
P/E Ratio
8.92
Dividend Yield
4.47%
Market Cap
HK$1177.41 billion
Rev. per Employee
HK$7.60M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 43.85
+0.25 +0.57%
Volume: 5.09M
Dec. 3, 2020 4:08p
P/E Ratio
26.89
Dividend Yield
0.23%
Market Cap
HK$52.69 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 147.60
-0.90 -0.61%
Volume: 6.52M
Dec. 3, 2020 4:08p
P/E Ratio
33.85
Dividend Yield
0.55%
Market Cap
HK$166.30 billion
Rev. per Employee
HK$2.13M
loading...
/zigman2/quotes/200847219/delayed
HK : Hong Kong
HK$ 7.89
+0.44 +5.91%
Volume: 133.88M
Dec. 3, 2020 4:08p
P/E Ratio
20.52
Dividend Yield
0.00%
Market Cap
HK$89.09 billion
Rev. per Employee
HK$1.45M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,696.22
+20.32 +0.76%
Volume: 817,065
Dec. 3, 2020 4:30p
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
69,700.00
+200.00 +0.29%
Volume: 23.68M
Dec. 3, 2020 4:30p
P/E Ratio
19.03
Dividend Yield
2.03%
Market Cap
₩467400.11 billion
Rev. per Employee
₩2.19B
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
111,500
+2,500 +2.29%
Volume: 6.62M
Dec. 3, 2020 4:30p
P/E Ratio
26.58
Dividend Yield
0.90%
Market Cap
₩68742.18 billion
Rev. per Employee
₩955.63M
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
196,500
+14,000 +7.67%
Volume: 6.05M
Dec. 3, 2020 4:30p
P/E Ratio
44.45
Dividend Yield
1.53%
Market Cap
₩41777.67 billion
Rev. per Employee
₩1.51B
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,615.30
+25.10 +0.38%
Volume: 699,399
Dec. 3, 2020 5:32p
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 41.25
+1.94 +4.94%
Volume: 13.50M
Dec. 3, 2020 4:10p
P/E Ratio
17.70
Dividend Yield
4.24%
Market Cap
$186.56 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
12,648.91
-79.78 -0.63%
Volume: 0.00
Dec. 3, 2020 5:00p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,822.34
+11.39 +0.41%
Volume: 0.00
Dec. 3, 2020 5:20p
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,628.26
+29.54 +1.85%
Volume: 0.00
Dec. 3, 2020 5:05p
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