Bulletin
Investor Alert

Asia Markets Archives | Email alerts

Aug. 14, 2013, 3:13 a.m. EDT

Japan stocks end higher; China car shares gain

Commonwealth Bank drops in Sydney; other Australian banks rise

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 V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Japanese stocks climbed Wednesday on a weakened yen and a positive lead from Wall Street, while Australian shares were weighed as heavyweight Commonwealth Bank of Australia fell after posting results.

The Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.35%  ended 1.3% higher in Tokyo, helped by strong buying activity in late afternoon trade after the benchmark dipped into losses earlier in the day.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.14%  gained 0.6% and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.24%  ended fractionally lower. China’s Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.40%  fell 0.3%.

Trading in Hong Kong was canceled because of a storm.


Tokyo Stock Exchange Enlarge Image
Japanese stocks rise on a positive U.S. lead and a weakened yen.

Steel and automobile shares advanced in Tokyo as the U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0366% rose above the ¥98-level.

“After a long period of underperformance, [the dollar’s rate against the yen] seems to be back in its stride and rallied through ¥98,” said IG Markets strategist Stan Shamu.

“Perhaps reports that Prime Minister [Shinzo] Abe is considering lowering corporate-tax rates to counter the sales-tax hike will continue to gain momentum and underpin the Nikkei [Stock Average’s] rally,” Shamu said.

JFE Holdings Inc. /zigman2/quotes/204336633/delayed JP:5411 +0.26%   /zigman2/quotes/203557603/delayed JFEEF +13.80%  rose 3%, and Kobe Steel Ltd. /zigman2/quotes/207391157/delayed JP:5406 +0.32%   added 3.7%, while Mazda Motor Corp. /zigman2/quotes/204777714/delayed JP:7261 +0.55% /zigman2/quotes/206326885/delayed MZDAY -1.27% advanced 2.1%.

The stock performance in Asia followed a higher finish on Wall Street Tuesday, where U.S. markets got support from billionaire investor Carl Icahn’s disclosure that he held a sizeable stake in Apple Inc. /zigman2/quotes/202934861/composite AAPL -1.96% , as well as data showing U.S. retail sales grew for a third straight month in July.

In Sydney, shares of Commonwealth Bank /zigman2/quotes/200638713/delayed AU:CBA +1.10% /zigman2/quotes/207018701/delayed CBAUF +1.10%  fell 1.2%, even as the lender reported a record profit for the year ended June 30 and increased its dividend payout.

“A solid result by Commonwealth Bank and a firm lead from U.S. markets will set the early tone in this morning’s market. However, investors will be keen to assess whether CBA’s result and dividend payment will be good enough to prevent some short-term profit-taking,” said CMC Markets chief market analyst Ric Spooner.

Click to Play

Icahn announces 'large' Apple stake; stock spikes

Activist investor Carl Icahn says on Twitter that he has taken a "large" position in Apple and urges its CEO to step up stock buybacks.

Other banks gained, however, after the strong results. National Australia Bank Ltd. /zigman2/quotes/210431826/delayed AU:NAB +0.83%   /zigman2/quotes/208329321/delayed NABZY +0.47%  rose 0.8%, while Westpac Banking Corp. /zigman2/quotes/203084975/delayed AU:WBC +0.50%  advanced 1.1%.

Mining major Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -0.77%   /zigman2/quotes/202627887/composite RIO -0.62%  fell 1.1% as the stock traded without rights to a dividend.

Financials and construction-related stocks were among decliners in Shanghai, giving back some recent gains. Anhui Conch Cement Co. /zigman2/quotes/204422624/delayed CN:600585 +1.84%  fell 1.7%, developer Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 +7.93%  lost 0.7% and Citic Securities Co. /zigman2/quotes/210326178/delayed CN:600030 +1.31%   /zigman2/quotes/207216844/delayed CIIHF -1.04%  lost 0.9%.

But gains in automobile shares helped support the market. SAIC Motor Corp. /zigman2/quotes/201442870/delayed CN:600104 +0.90% jumped 2.9%, and Anhui Jianghuai Automobile Co. /zigman2/quotes/202792755/delayed CN:600418 -4.48%  climbed 1.8% in Shanghai afternoon trading.

The rise in SAIC shares came after news that Huayu Automotive Systems Co., of which the automobile major owns 60%, had agreed to buy Visteon Corp.’s /zigman2/quotes/202094672/composite VC -0.60%  50% stake in their joint venture for $1.25 billion in cash.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,283.03
-100.06 -0.35%
Volume: 0.00
Nov. 25, 2022 3:15p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,437.86
-3.47 -0.14%
Volume: 438,394
Nov. 25, 2022 3:30p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,259.50
+17.70 +0.24%
Volume: 552,057
Nov. 25, 2022 4:55p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,101.69
+12.38 +0.40%
Volume: 31.14B
Nov. 25, 2022 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
139.1250
-0.0510 -0.0366%
Volume: 0.0000
Nov. 25, 2022 4:59p
loading...
/zigman2/quotes/204336633/delayed
JP : Japan: Tokyo
¥ 1,548.00
+4.00 +0.26%
Volume: 3.26M
Nov. 25, 2022 3:00p
P/E Ratio
3.30
Dividend Yield
8.40%
Market Cap
¥891.33 billion
Rev. per Employee
¥77.56M
loading...
/zigman2/quotes/203557603/delayed
US : U.S.: OTC
$ 10.80
+1.31 +13.80%
Volume: 0.00
Nov. 18, 2022 12:02p
P/E Ratio
2.81
Dividend Yield
N/A
Market Cap
$6.12 billion
Rev. per Employee
$624,938
loading...
/zigman2/quotes/207391157/delayed
JP : Japan: Tokyo
¥ 631.00
+2.00 +0.32%
Volume: 1.90M
Nov. 25, 2022 3:00p
P/E Ratio
4.58
Dividend Yield
7.13%
Market Cap
¥249.06 billion
Rev. per Employee
¥59.83M
loading...
/zigman2/quotes/204777714/delayed
JP : Japan: Tokyo
¥ 1,097.00
+6.00 +0.55%
Volume: 2.55M
Nov. 25, 2022 3:00p
P/E Ratio
4.82
Dividend Yield
3.65%
Market Cap
¥690.96 billion
Rev. per Employee
¥67.02M
loading...
/zigman2/quotes/206326885/delayed
US : U.S.: OTC
$ 3.90
-0.05 -1.27%
Volume: 45,809
Nov. 25, 2022 12:59p
P/E Ratio
4.37
Dividend Yield
1.31%
Market Cap
$4.96 billion
Rev. per Employee
$538,722
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 148.11
-2.96 -1.96%
Volume: 35.20M
Nov. 25, 2022 1:00p
P/E Ratio
24.27
Dividend Yield
0.62%
Market Cap
$2356.15 billion
Rev. per Employee
$2.40M
loading...
/zigman2/quotes/200638713/delayed
AU : Australia: Sydney
$ 109.20
+1.19 +1.10%
Volume: 2.16M
Nov. 25, 2022 4:11p
P/E Ratio
18.40
Dividend Yield
3.53%
Market Cap
$184.50 billion
Rev. per Employee
$592,974
loading...
/zigman2/quotes/207018701/delayed
US : U.S.: OTC
$ 71.23
+0.78 +1.10%
Volume: 0.00
Nov. 22, 2022 9:41a
P/E Ratio
16.54
Dividend Yield
N/A
Market Cap
$122.73 billion
Rev. per Employee
$430,019
loading...
/zigman2/quotes/210431826/delayed
AU : Australia: Sydney
$ 31.49
+0.26 +0.83%
Volume: 4.51M
Nov. 25, 2022 4:11p
P/E Ratio
15.32
Dividend Yield
4.80%
Market Cap
$99.09 billion
Rev. per Employee
$702,655
loading...
/zigman2/quotes/208329321/delayed
US : U.S.: OTC
$ 10.65
+0.05 +0.47%
Volume: 29,880
Nov. 25, 2022 12:59p
P/E Ratio
14.55
Dividend Yield
4.51%
Market Cap
$66.87 billion
Rev. per Employee
$500,076
loading...
/zigman2/quotes/203084975/delayed
AU : Australia: Sydney
$ 23.99
+0.12 +0.50%
Volume: 4.04M
Nov. 25, 2022 4:11p
P/E Ratio
15.74
Dividend Yield
5.21%
Market Cap
$83.89 billion
Rev. per Employee
$692,203
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 105.65
-0.82 -0.77%
Volume: 898,197
Nov. 25, 2022 4:11p
P/E Ratio
7.05
Dividend Yield
9.91%
Market Cap
$159.56 billion
Rev. per Employee
$1.68M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 65.73
-0.41 -0.62%
Volume: 1.08M
Nov. 25, 2022 1:10p
P/E Ratio
6.03
Dividend Yield
10.39%
Market Cap
$107.68 billion
Rev. per Employee
$1.23M
loading...
/zigman2/quotes/204422624/delayed
CN : China: Shanghai
¥ 28.22
+0.51 +1.84%
Volume: 20.29M
Nov. 25, 2022 3:00p
P/E Ratio
6.42
Dividend Yield
8.43%
Market Cap
¥145.26 billion
Rev. per Employee
¥2.79M
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 11.30
+0.83 +7.93%
Volume: 207.21M
Nov. 25, 2022 3:00p
P/E Ratio
5.41
Dividend Yield
5.58%
Market Cap
¥51.01 billion
Rev. per Employee
¥1.97M
loading...
/zigman2/quotes/210326178/delayed
CN : China: Shanghai
¥ 19.35
+0.25 +1.31%
Volume: 54.24M
Nov. 25, 2022 3:00p
P/E Ratio
12.71
Dividend Yield
2.79%
Market Cap
¥266.71 billion
Rev. per Employee
¥3.74M
loading...
/zigman2/quotes/207216844/delayed
US : U.S.: OTC
$ 1.90
-0.02 -1.04%
Volume: 0.00
Nov. 15, 2022 10:07a
P/E Ratio
8.09
Dividend Yield
N/A
Market Cap
$38.75 billion
Rev. per Employee
$567,809
loading...
/zigman2/quotes/201442870/delayed
CN : China: Shanghai
¥ 14.65
+0.13 +0.90%
Volume: 18.17M
Nov. 25, 2022 3:00p
P/E Ratio
10.03
Dividend Yield
4.66%
Market Cap
¥169.26 billion
Rev. per Employee
¥3.61M
loading...
/zigman2/quotes/202792755/delayed
CN : China: Shanghai
¥ 13.66
-0.64 -4.48%
Volume: 76.38M
Nov. 25, 2022 3:00p
P/E Ratio
N/A
Dividend Yield
0.20%
Market Cap
¥29.83 billion
Rev. per Employee
¥1.50M
loading...
/zigman2/quotes/202094672/composite
US : U.S.: Nasdaq
$ 147.30
-0.89 -0.60%
Volume: 39,734
Nov. 25, 2022 1:00p
P/E Ratio
34.62
Dividend Yield
N/A
Market Cap
$4.15 billion
Rev. per Employee
$347,800
loading...

Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Follow him on Twitter @MktwKumar.

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.