Bulletin
Investor Alert

New York Markets Close in:

Asia Markets Archives | Email alerts

March 11, 2013, 2:19 a.m. EDT

Asia stocks mostly higher, Japan leads

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
    Hang Seng Index (HSI)

or Cancel Already have a watchlist? Log In

By Sarah Turner, MarketWatch

SYDNEY (MarketWatch) — Asia stocks traded mostly higher Monday as investors reacted to U.S. and Chinese data, with Tokyo managing outperform the rest of the region on further weakness for the Japanese yen.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +1.59%  ended 0.5% higher, with Tokyo’s broader Topix benchmark rallying 1.9%. Meanwhile, Taiwan’s Taiex , and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.01%  each climbed 0.3% in late trading, while Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO +1.88%  closed with a 0.5% gain.

On the downside, the Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 -2.79%  dipped 0.3% in late-session moves, while South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.84% .edged down 0.2% ahead of the close.

“Sentiment appears to be finely balanced between weak Chinese industrial output and retail sales data and the stronger-than-expected U.S. employment landscape,” said CMC Markets trader Niall King.


Reuters

After the close of Asian trade Friday, monthly U.S. employment data that showed that the economy created 236,000 jobs in February as the employment rate fell to a 2008 low, helping to lift stocks on Wall Street. Read: Stocks up for week; S&P 500 near record

“There were more jobs, more hours and more pay, which combined with rising wealth effects, gives the consumer sector much more momentum to deal with higher taxes, the sequester and higher oil prices,” said Perpetual Investments head of investment research Matthew Sherwood.

The U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.2667%  rose after the data, with particularly sharp gains against the Japanese yen. The greenback held on to most of that strength through Monday — trading at ¥96.10 by Monday afternoon in East Asia, little changed from ¥96.08 late Friday in North America. Read: Dollar rallies as February payrolls leap

Exporters tend to benefit from a weaker yen, and those firms added to their recent gains Monday in Tokyo, with auto companies especially strong, as Mitsubishi Motors Corp. /zigman2/quotes/202404490/delayed JP:7211 +4.04%   /zigman2/quotes/200876874/composite MMTOF +5.91%  rose 5.9%, Subaru maker Fuji Heavy industries Ltd. /zigman2/quotes/203522406/delayed JP:7270 +2.50%   /zigman2/quotes/200526066/composite FUJHY +2.52%  climbed 1.7%, Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 +3.15%   /zigman2/quotes/207173990/composite HMC +1.70%  added 2.6% and Nissan Motor Co. /zigman2/quotes/208298710/delayed JP:7201 +7.25%   /zigman2/quotes/207656007/composite NSANY +6.58%  advanced 3.2%.

“After what proved to be only a brief pause, the slide in the yen and associated surge in the Nikkei [Average] have both resumed with a vengeance. A yen/dollar exchange rate of ¥100 and a further rally to 13,000 on the Nikkei are certainly plausible targets for the near term,” said Capital Economics economist Mark Williams.

Lifted by inflation optimism, financial-sector firms have also strengthened notably since late last year, and the sector jumped again on Monday. Resona Holdings Inc. /zigman2/quotes/203178794/delayed JP:8308 +1.09%   /zigman2/quotes/201424788/composite RSNHF -3.42%  surged 13.7%, Shinsei Bank Ltd. /zigman2/quotes/210166295/delayed JP:8303 -0.23%   /zigman2/quotes/202811351/composite SKLKY -0.33%  climbed 8.4%, and Daiwa Securities Group Inc. /zigman2/quotes/201391978/delayed JP:8601 +0.87% /zigman2/quotes/201035229/composite DSEEY +1.59%  traded 6.2% higher.

Sumitomo Mitsui Trust Holdings Inc. /zigman2/quotes/207195052/delayed JP:8309 +0.47%   /zigman2/quotes/206166011/composite SUTNY -0.72%  moved up 2.3% after announcing late Friday that it will pay off the balance of the public funds it obtained in the late 1990s when the Japanese government bailed out domestic financial institutions to head off a crisis, according to a Nikkei news report.

Still, Sharp Corp. /zigman2/quotes/203224600/delayed JP:6753 +3.70%   /zigman2/quotes/207472799/composite SHCAF -4.17%   fell 3.1% after the Asahi Shimbun reported Taiwan’s Hon Hai Precision Industry Co. /zigman2/quotes/207256514/delayed TW:2317 +0.35%   /zigman2/quotes/205520950/composite HNHPF +0.17% /zigman2/quotes/205520950/composite HNHPF +0.17% would miss a self-imposed deadline to invest in the debt-heavy Japanese tech firm, though it may make an investment later on. Shares of Hon Hai traded flat in Taipei.

Over in Hong Kong, investors were buying into globally exposed firms after the jobs data from the U.S, with logistics company Li & Fung Ltd.   , up 1.5%, while fashion house Prada SpA /zigman2/quotes/200575701/delayed HK:1913 -1.09%   /zigman2/quotes/204689658/composite PRDSY -0.85%  rose 2.3%.

The gains in Hong Kong contrasted with weakness in Shanghai. Chinese data out over the weekend showed consumer inflation accelerating significantly in February, even as industrial output and retail sales eased. Read: China inflation climbs; other indicators soften

“The weekend China data showed firmer-than-expected [consumer] inflation, firmer-than-expected industrial production and retail sales, and weaker than expected fixed-asset investment — not the mix of activity and inflation officials would have liked,” said RBC Capital Markets strategist Sue Trinh.

“Some caution in interpreting the data is needed, given distortions caused by the Lunar New Year holiday, but it may take another month or two of data to get a clearer picture,” she said.

Bank stocks declined on the Chinese mainland, with China Merchants Bank Co. /zigman2/quotes/210188047/delayed CN:600036 -1.78%   /zigman2/quotes/208876947/composite CIHKY -0.72%  down 1.4%, and Agricultural Bank of China Ltd. /zigman2/quotes/204629388/delayed CN:601288 -0.91%   /zigman2/quotes/207749118/composite ACGBY -0.70%  lower by 1.1%, while Bank of Communications Co. /zigman2/quotes/207155262/delayed CN:601328 -1.39%   /zigman2/quotes/202128064/composite BCMXY +1.85%  fell 0.8%.

South Korean exporters were once again suffering along with the weaker yen, as Korean and Japanese firms compete head-to-head in many overseas markets.

Click to Play

Who are China's legislative billionaires?

The delegates at this year's meetings of China's National People's Congress and Chinese People's Political Consultative Conference include more than 80 billionaires.

Autos have been particularly hard-hit since the start of the year, and they were lower again on Monday, with Kia Motors Corp. /zigman2/quotes/206019389/delayed KR:000270 +3.53%   /zigman2/quotes/205439169/composite KIMTF +8.21%  down 1.9% and Hyundai Motor Co. /zigman2/quotes/206684590/delayed KR:005380 +7.39%   /zigman2/quotes/204364212/composite HYMTF +1.43%  lower by 2.6%.

After the Chinese data, Australian miners fell Monday on concerns about the economic health of their biggest customer, with Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO +3.68%   /zigman2/quotes/202627887/composite RIO -0.15%  down 2%, and BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP +2.48%   /zigman2/quotes/208108397/composite BHP +0.81%  lower by 0.8%.

Helping to offset the mining-sector losses were energy giant Woodside Petroleum Ltd. /zigman2/quotes/203437212/delayed AU:WPL -2.15%   /zigman2/quotes/206770672/composite WOPEF +0.73% , up 0.7%, and telecom heavyweight Telstra Corp. Ltd. /zigman2/quotes/201936124/delayed AU:TLS 0.00%   /zigman2/quotes/202275272/composite TTRAF +5.88% , which advanced 1.1%.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
22,945.50
+358.49 +1.59%
Volume: 0.00
July 15, 2020 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
25,481.58
+3.69 +0.01%
Volume: 1.85M
July 15, 2020 4:08p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,052.90
+111.80 +1.88%
Volume: 656,101
July 15, 2020 4:59p
loading...
/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 14.27
-0.41 -2.79%
Volume: 204.26M
July 15, 2020 3:00p
P/E Ratio
9.92
Dividend Yield
1.53%
Market Cap
¥284.88 billion
Rev. per Employee
¥6.12M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,201.88
+18.27 +0.84%
Volume: 830,266
July 15, 2020 3:32p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
106.9480
-0.2860 -0.2667%
Volume: 0.0000
July 15, 2020 3:06p
loading...
/zigman2/quotes/202404490/delayed
JP : Japan: Tokyo
¥ 283.00
+11.00 +4.04%
Volume: 10.15M
July 15, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
3.53%
Market Cap
¥404.82 billion
Rev. per Employee
¥80.91M
loading...
/zigman2/quotes/200876874/composite
US : U.S.: OTC
$ 2.69
+0.15 +5.91%
Volume: 9,395
July 15, 2020 2:49p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.80 billion
Rev. per Employee
$733,027
loading...
/zigman2/quotes/203522406/delayed
JP : Japan: Tokyo
¥ 2,275.50
+55.50 +2.50%
Volume: 2.25M
July 15, 2020 3:00p
P/E Ratio
11.44
Dividend Yield
4.39%
Market Cap
¥1702.33 billion
Rev. per Employee
¥95.93M
loading...
/zigman2/quotes/200526066/composite
US : U.S.: OTC
$ 10.61
+0.26 +2.52%
Volume: 18,142
July 15, 2020 2:11p
P/E Ratio
11.66
Dividend Yield
3.14%
Market Cap
$15.87 billion
Rev. per Employee
$868,462
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,845.50
+87.00 +3.15%
Volume: 4.10M
July 15, 2020 3:00p
P/E Ratio
10.99
Dividend Yield
0.00%
Market Cap
¥4762.85 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 26.39
+0.44 +1.70%
Volume: 608,793
July 15, 2020 3:06p
P/E Ratio
11.08
Dividend Yield
3.26%
Market Cap
$44.41 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/208298710/delayed
JP : Japan: Tokyo
¥ 418.60
+28.30 +7.25%
Volume: 45.75M
July 15, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
2.39%
Market Cap
¥1526.82 billion
Rev. per Employee
¥85.36M
loading...
/zigman2/quotes/207656007/composite
US : U.S.: OTC
$ 7.78
+0.48 +6.58%
Volume: 193,067
July 15, 2020 2:51p
P/E Ratio
N/A
Dividend Yield
7.15%
Market Cap
$14.24 billion
Rev. per Employee
$773,563
loading...
/zigman2/quotes/203178794/delayed
JP : Japan: Tokyo
¥ 379.60
+4.10 +1.09%
Volume: 8.77M
July 15, 2020 3:00p
P/E Ratio
5.74
Dividend Yield
5.53%
Market Cap
¥861.97 billion
Rev. per Employee
¥45.74M
loading...
/zigman2/quotes/201424788/composite
US : U.S.: OTC
$ 3.44
-0.12 -3.42%
Volume: 0.00
July 6, 2020 2:26p
P/E Ratio
5.66
Dividend Yield
N/A
Market Cap
$8.02 billion
Rev. per Employee
$414,089
loading...
/zigman2/quotes/210166295/delayed
JP : Japan: Tokyo
¥ 1,300.00
-3.00 -0.23%
Volume: 1.14M
July 15, 2020 3:00p
P/E Ratio
6.88
Dividend Yield
0.77%
Market Cap
¥300.66 billion
Rev. per Employee
¥54.32M
loading...
/zigman2/quotes/202811351/composite
US : U.S.: OTC
$ 2.40
-0.0080 -0.33%
Volume: 837.00
July 15, 2020 2:28p
P/E Ratio
5.66
Dividend Yield
0.59%
Market Cap
$2.80 billion
Rev. per Employee
$492,101
loading...
/zigman2/quotes/201391978/delayed
JP : Japan: Tokyo
¥ 476.60
+4.10 +0.87%
Volume: 4.90M
July 15, 2020 3:00p
P/E Ratio
12.25
Dividend Yield
4.20%
Market Cap
¥717.95 billion
Rev. per Employee
¥49.77M
loading...
/zigman2/quotes/201035229/composite
US : U.S.: OTC
$ 4.46
+0.07 +1.59%
Volume: 3,608
July 15, 2020 12:49p
P/E Ratio
12.46
Dividend Yield
2.85%
Market Cap
$6.69 billion
Rev. per Employee
$450,764
loading...
/zigman2/quotes/207195052/delayed
JP : Japan: Tokyo
¥ 3,016.00
+14.00 +0.47%
Volume: 1.03M
July 15, 2020 3:00p
P/E Ratio
6.95
Dividend Yield
4.97%
Market Cap
¥1124.36 billion
Rev. per Employee
¥64.10M
loading...
/zigman2/quotes/206166011/composite
US : U.S.: OTC
$ 2.77
-0.02 -0.72%
Volume: 125,132
July 15, 2020 2:43p
P/E Ratio
6.93
Dividend Yield
3.79%
Market Cap
$10.48 billion
Rev. per Employee
$580,894
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,178.00
+42.00 +3.70%
Volume: 2.21M
July 15, 2020 3:00p
P/E Ratio
37.95
Dividend Yield
1.53%
Market Cap
¥693.92 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/207472799/composite
US : U.S.: OTC
$ 10.56
-0.46 -4.17%
Volume: 0.00
July 8, 2020 12:03p
P/E Ratio
36.74
Dividend Yield
N/A
Market Cap
$6.53 billion
Rev. per Employee
$454,670
loading...
/zigman2/quotes/207256514/delayed
TW : Taiwan
NT$ 86.60
+0.30 +0.35%
Volume: 47.81M
July 15, 2020 1:30p
P/E Ratio
12.42
Dividend Yield
4.85%
Market Cap
NT$1196.25 billion
Rev. per Employee
NT$8.60M
loading...
/zigman2/quotes/205520950/composite
US : U.S.: OTC
$ 6.01
+0.01 +0.17%
Volume: 132,454
July 15, 2020 2:49p
P/E Ratio
13.28
Dividend Yield
3.41%
Market Cap
$40.59 billion
Rev. per Employee
$286,303
loading...
/zigman2/quotes/205520950/composite
US : U.S.: OTC
$ 6.01
+0.01 +0.17%
Volume: 132,454
July 15, 2020 2:49p
P/E Ratio
13.28
Dividend Yield
3.41%
Market Cap
$40.59 billion
Rev. per Employee
$286,303
loading...
/zigman2/quotes/200575701/delayed
HK : Hong Kong
HK$ 27.10
-0.30 -1.09%
Volume: 811,792
July 15, 2020 4:08p
P/E Ratio
30.84
Dividend Yield
0.00%
Market Cap
HK$70.11 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204689658/composite
US : U.S.: OTC
$ 7.01
-0.06 -0.85%
Volume: 151.00
July 15, 2020 1:53p
P/E Ratio
31.27
Dividend Yield
0.00%
Market Cap
$9.05 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210188047/delayed
CN : China: Shanghai
¥ 35.86
-0.65 -1.78%
Volume: 134.11M
July 15, 2020 3:00p
P/E Ratio
9.74
Dividend Yield
3.35%
Market Cap
¥914.27 billion
Rev. per Employee
¥3.10M
loading...
/zigman2/quotes/208876947/composite
US : U.S.: OTC
$ 24.75
-0.18 -0.72%
Volume: 17,589
July 15, 2020 2:50p
P/E Ratio
N/A
Dividend Yield
2.86%
Market Cap
$130.26 billion
Rev. per Employee
$468,258
loading...
/zigman2/quotes/204629388/delayed
CN : China: Shanghai
¥ 3.28
-0.03 -0.91%
Volume: 405.79M
July 15, 2020 3:00p
P/E Ratio
5.41
Dividend Yield
5.55%
Market Cap
¥1137.43 billion
Rev. per Employee
¥1.80M
loading...
/zigman2/quotes/207749118/composite
US : U.S.: OTC
$ 9.26
-0.07 -0.70%
Volume: 18,883
July 15, 2020 2:17p
P/E Ratio
N/A
Dividend Yield
5.71%
Market Cap
$162.05 billion
Rev. per Employee
$276,273
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 4.96
-0.07 -1.39%
Volume: 214.91M
July 15, 2020 3:00p
P/E Ratio
4.77
Dividend Yield
6.35%
Market Cap
¥342.96 billion
Rev. per Employee
¥4.56M
loading...
/zigman2/quotes/202128064/composite
US : U.S.: OTC
$ 14.86
+0.27 +1.85%
Volume: 2.00
July 10, 2020 5:20p
P/E Ratio
4.22
Dividend Yield
6.43%
Market Cap
$51.60 billion
Rev. per Employee
$697,896
loading...
/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
35,200.00
+1,200 +3.53%
Volume: 2.96M
July 15, 2020 3:30p
P/E Ratio
9.78
Dividend Yield
3.27%
Market Cap
₩13631.66 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205439169/composite
US : U.S.: OTC
$ 30.30
+2.30 +8.21%
Volume: 100.00
Nov. 20, 2017 12:00a
P/E Ratio
9.93
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
109,000
+7,500 +7.39%
Volume: 4.49M
July 15, 2020 3:30p
P/E Ratio
10.95
Dividend Yield
2.75%
Market Cap
₩23745.69 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204364212/composite
US : U.S.: OTC
$ 22.77
+0.32 +1.43%
Volume: 47.00
July 14, 2020 2:19p
P/E Ratio
4.67
Dividend Yield
N/A
Market Cap
$19.70 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 104.98
+3.73 +3.68%
Volume: 2.19M
July 15, 2020 4:10p
P/E Ratio
14.97
Dividend Yield
6.26%
Market Cap
$145.59 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 60.75
-0.09 -0.15%
Volume: 1.85M
July 15, 2020 3:06p
P/E Ratio
12.41
Dividend Yield
6.29%
Market Cap
$101.43 billion
Rev. per Employee
$852,406
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.00
+0.92 +2.48%
Volume: 7.13M
July 15, 2020 4:10p
P/E Ratio
14.22
Dividend Yield
5.61%
Market Cap
$174.43 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 52.79
+0.42 +0.81%
Volume: 2.50M
July 15, 2020 3:06p
P/E Ratio
14.22
Dividend Yield
5.41%
Market Cap
$121.52 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 20.96
-0.46 -2.15%
Volume: 6.69M
July 15, 2020 4:10p
P/E Ratio
40.55
Dividend Yield
6.51%
Market Cap
$20.40 billion
Rev. per Employee
$1.92M
loading...
/zigman2/quotes/206770672/composite
US : U.S.: OTC
$ 15.11
+0.11 +0.73%
Volume: 100.00
July 14, 2020 12:03p
P/E Ratio
41.12
Dividend Yield
6.02%
Market Cap
$14.21 billion
Rev. per Employee
$1.43M
loading...
/zigman2/quotes/201936124/delayed
AU : Australia: Sydney
$ 3.47
0.00 0.00%
Volume: 20.46M
July 15, 2020 4:10p
P/E Ratio
20.05
Dividend Yield
4.61%
Market Cap
$41.23 billion
Rev. per Employee
$774,100
loading...
/zigman2/quotes/202275272/composite
US : U.S.: OTC
$ 2.52
+0.14 +5.88%
Volume: 100.00
July 15, 2020 10:00a
P/E Ratio
20.98
Dividend Yield
N/A
Market Cap
$28.91 billion
Rev. per Employee
$579,274
loading...

Sarah Turner is MarketWatch's bureau chief in Sydney. Follow her on Twitter @SarahTurnerMKTW.

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.