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Nov. 25, 2015, 4:03 a.m. EST

Nikkei snaps winning streak as tensions drag on Asian stocks

Energy sector lifted by overnight gains for oil

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By Chao Deng

Most Asian markets slipped Wednesday amid escalating geopolitical tensions, after Turkish military shot down a Russian jet fighter, though a rise in oil prices overnight lifted some energy shares in the region.

The Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.32%  closed down for the first time in four days, off 0.4%, at 19,847.58, in light trading. The benchmark has risen almost 20% in less than two months.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +1.58%  was down 0.6% at 5,193.7. Its energy sector rose 0.9%.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.27%  lost 0.3%, and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.88%  fell 0.4%.

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.19%  rose 0.9%.

Crude oil futures /zigman2/quotes/209723602/delayed CLF26 -53.94%  steadied Wednesday in Asia amid renewed concerns about a global surplus, after climbing nearly 3% overnight. Metals that sank to multiyear lows earlier in the week also surged overnight, but have pared gains in Asian trading.

On Tuesday, Turkey shot down a Russian jet fighter along the Syrian border, an incident that threatens to undercut growing efforts to create a new international coalition to confront expanding Islamic State terrorism. The Middle East is the world’s most prolific oil-producing region, though Syria itself produces very little oil.

“While the dispute between Turkey and Russia is unlikely to escalate into a hot conflict, it does underline the unresolved tensions over how to put an end to the unrest in Syria and Iraq,” said Angus Nicholson, market analyst with brokerage IG. “This uncertainty around a further escalation of the conflict in the Middle East has hung heavily over Asian markets.”

Energy shares

Australian energy shares gained on the oil-price moves overnight. Santos Ltd. /zigman2/quotes/207349564/delayed AU:STO +4.95%    and Origin Energy Ltd. /zigman2/quotes/207944120/delayed AU:ORG +2.47%  gained 3.5% and 3.1%, respectively, while AWE Ltd. rose 3.4% and Liquefied Natural Gas Ltd. /zigman2/quotes/204768427/delayed AU:LNG +4.76%  advanced 7.4%.

In Hong Kong oil producers, Cnooc Ltd. /zigman2/quotes/203421416/delayed HK:883 +2.42%   /zigman2/quotes/204964401/composite CEO +0.79%  rose 3.4% and PetroChina Co. /zigman2/quotes/204979431/delayed HK:857 +1.02%   /zigman2/quotes/206980083/delayed CN:601857 +0.65%  rose 0.4%. In Japan, oil and gas developer Inpex Corp. /zigman2/quotes/206689846/delayed JP:1605 +1.39%  rose 1.2%, and oil refiner Idemitsu Kosan Co. /zigman2/quotes/209216965/delayed JP:5019 -0.12%  rose 2.0%.

Rising oil overnight also pressured Asian airline stocks Wednesday, with shares of Cathay Pacific Airways Ltd. /zigman2/quotes/203532437/delayed HK:293 +1.39%   /zigman2/quotes/208114856/delayed CPCAY +1.75%  down 1.9%, Qantas Airways Ltd. /zigman2/quotes/205534063/delayed AU:QAN +4.92%  down 1.6% and Japan Airlines Co. /zigman2/quotes/202202214/delayed JP:9201 +0.22%  0.9% lower.

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Asian government bonds gained, as investors sought havens assets, after a rally in U.S. Treasury yields overnight.

Australia’s benchmark 10-year government bond yield /zigman2/quotes/211347066/realtime BX:TMBMKAU-10Y +2.40%  fell to 2.88% Wednesday from 2.94% a day earlier. Ten-year yields on Thailand’s government bonds /zigman2/quotes/211347034/realtime BX:AMBMKTH-10Y 0.00%  dropped to 2.76% from 2.82% Tuesday. Yields fall as prices rise.

The Japanese yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1029%  , another asset sought during geopolitical uncertainty, gained 0.2% against the U.S. dollar Wednesday, at ¥122.23 a dollar. The currency reached its strongest level in more than a week in earlier trading, at ¥122.23 per U.S. dollar.

/zigman2/quotes/210597971/delayed
JP : Nikkei
19,291.44
-61.80 -0.32%
Volume: 0.00
April 9, 2020 10:20a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,289.20
+82.30 +1.58%
Volume: 237,268
April 9, 2020 11:20a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,830.05
+22.91 +1.27%
Volume: 339,093
April 9, 2020 10:20a
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,181.32
+210.95 +0.88%
Volume: 50,282
April 9, 2020 9:25a
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,815.37
-5.39 -0.19%
Volume: 24.35B
April 8, 2020 3:01p
loading...
/zigman2/quotes/209723602/delayed
US : U.S.: Nymex
$ 45.21
-52.94 -53.94%
Volume: 0.00
April 8, 2020 5:07p
loading...
/zigman2/quotes/207349564/delayed
AU : Australia: Sydney
$ 4.66
+0.22 +4.95%
Volume: 3.18M
April 9, 2020 11:20a
P/E Ratio
10.11
Dividend Yield
3.53%
Market Cap
$9.25 billion
Rev. per Employee
$2.29M
loading...
/zigman2/quotes/207944120/delayed
AU : Australia: Sydney
$ 4.98
+0.12 +2.47%
Volume: 1.60M
April 9, 2020 11:19a
P/E Ratio
8.66
Dividend Yield
6.02%
Market Cap
$8.59 billion
Rev. per Employee
$2.70M
loading...
/zigman2/quotes/204768427/delayed
AU : Australia: Sydney
$ 0.11
+0.0050 +4.76%
Volume: 267,443
April 9, 2020 11:02a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$60.55 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
HK$ 8.88
+0.21 +2.42%
Volume: 123.61M
April 9, 2020 9:20a
P/E Ratio
5.73
Dividend Yield
8.78%
Market Cap
HK$399.15 billion
Rev. per Employee
HK$13.96M
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/zigman2/quotes/204964401/composite
US : U.S.: NYSE
$ 113.95
+0.89 +0.79%
Volume: 239,367
April 8, 2020 6:30p
P/E Ratio
6.04
Dividend Yield
7.87%
Market Cap
$50.48 billion
Rev. per Employee
$1.78M
loading...
/zigman2/quotes/204979431/delayed
HK : Hong Kong
HK$ 2.96
+0.03 +1.02%
Volume: 2.27M
April 9, 2020 9:20a
P/E Ratio
10.42
Dividend Yield
5.32%
Market Cap
HK$547.23 billion
Rev. per Employee
HK$5.32M
loading...
/zigman2/quotes/206980083/delayed
CN : China: Shanghai
¥ 4.67
+0.03 +0.65%
Volume: 3.63M
April 9, 2020 9:25a
P/E Ratio
18.71
Dividend Yield
3.08%
Market Cap
¥854.71 billion
Rev. per Employee
¥4.49M
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/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 671.40
+9.20 +1.39%
Volume: 3.32M
April 9, 2020 10:20a
P/E Ratio
6.24
Dividend Yield
5.36%
Market Cap
¥990.60 billion
Rev. per Employee
¥291.81M
loading...
/zigman2/quotes/209216965/delayed
JP : Japan: Tokyo
¥ 2,537.00
-3.00 -0.12%
Volume: 248,500
April 9, 2020 10:20a
P/E Ratio
22.58
Dividend Yield
6.31%
Market Cap
¥757.68 billion
Rev. per Employee
¥492.06M
loading...
/zigman2/quotes/203532437/delayed
HK : Hong Kong
HK$ 8.73
+0.12 +1.39%
Volume: 6,000
April 9, 2020 9:20a
P/E Ratio
20.31
Dividend Yield
2.06%
Market Cap
HK$33.44 billion
Rev. per Employee
HK$4.27M
loading...
/zigman2/quotes/208114856/delayed
US : U.S.: OTC
$ 5.42
+0.09 +1.75%
Volume: 3,967
April 8, 2020 3:46p
P/E Ratio
19.77
Dividend Yield
3.93%
Market Cap
$4.31 billion
Rev. per Employee
$544,403
loading...
/zigman2/quotes/205534063/delayed
AU : Australia: Sydney
$ 3.41
+0.16 +4.92%
Volume: 5.69M
April 9, 2020 11:20a
P/E Ratio
6.39
Dividend Yield
7.77%
Market Cap
$4.66 billion
Rev. per Employee
$568,765
loading...
/zigman2/quotes/202202214/delayed
JP : Japan: Tokyo
¥ 2,022.50
+4.50 +0.22%
Volume: 3.48M
April 9, 2020 10:20a
P/E Ratio
5.81
Dividend Yield
5.44%
Market Cap
¥619.70 billion
Rev. per Employee
¥44.44M
loading...
/zigman2/quotes/211347066/realtime
add Add to watchlist BX:TMBMKAU-10Y
BX : Tullett Prebon
0.94
+0.02 +2.40%
Volume: 0.00
April 9, 2020 11:38a
loading...
/zigman2/quotes/211347034/realtime
add Add to watchlist BX:AMBMKTH-10Y
BX : Tullett Prebon
1.45
0.00 0.00%
Volume: 0.00
April 9, 2020 8:21a
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.9420
+0.1120 +0.1029%
Volume: 0.0000
April 8, 2020 9:40p
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