Bulletin
Investor Alert

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 +0.89%  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 +0.46%  each climbed 0.3% in late trading, while Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO +0.22%  closed with a 0.5% gain.

On the downside, the Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 +0.26%  dipped 0.3% in late-session moves, while South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.07% .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 -0.1266%  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 -0.73%   /zigman2/quotes/200876874/delayed MMTOF +2.17%  rose 5.9%, Subaru maker Fuji Heavy industries Ltd. /zigman2/quotes/203522406/delayed JP:7270 +0.40%   /zigman2/quotes/200526066/delayed FUJHY +0.50%  climbed 1.7%, Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 -0.07%   /zigman2/quotes/207173990/composite HMC +0.11%  added 2.6% and Nissan Motor Co. /zigman2/quotes/208298710/delayed JP:7201 +2.00%   /zigman2/quotes/207656007/delayed NSANY +1.83%  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 -1.28%   /zigman2/quotes/201424788/delayed RSNHF -2.14%  surged 13.7%, Shinsei Bank Ltd. /zigman2/quotes/210166295/delayed JP:8303 0.00%   /zigman2/quotes/202811351/delayed SKLKY -0.80%  climbed 8.4%, and Daiwa Securities Group Inc. /zigman2/quotes/201391978/delayed JP:8601 -2.15% /zigman2/quotes/201035229/delayed DSEEY -1.62%  traded 6.2% higher.

Sumitomo Mitsui Trust Holdings Inc. /zigman2/quotes/207195052/delayed JP:8309 -0.10%   /zigman2/quotes/206166011/delayed SUTNY +0.55%  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 -0.87%   /zigman2/quotes/207472799/delayed SHCAF +3.24%   fell 3.1% after the Asahi Shimbun reported Taiwan’s Hon Hai Precision Industry Co. /zigman2/quotes/207256514/delayed TW:2317 +0.48%   /zigman2/quotes/205520950/delayed HNHPF +2.52% /zigman2/quotes/205520950/delayed HNHPF +2.52% 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. /zigman2/quotes/201795755/delayed HK:494 0.00%   /zigman2/quotes/201638706/delayed LFUGY -6.49% , up 1.5%, while fashion house Prada SpA /zigman2/quotes/200575701/delayed HK:1913 -2.76%   /zigman2/quotes/204689658/delayed PRDSY +0.68%  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 -0.48%   /zigman2/quotes/208876947/delayed CIHKY +0.68%  down 1.4%, and Agricultural Bank of China Ltd. /zigman2/quotes/204629388/delayed CN:601288 +0.87%   /zigman2/quotes/207749118/delayed ACGBY +1.73%  lower by 1.1%, while Bank of Communications Co. /zigman2/quotes/207155262/delayed CN:601328 +0.19%   /zigman2/quotes/202128064/delayed BCMXY -9.89%  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 -0.12%   /zigman2/quotes/205439169/delayed KIMTF +8.21%  down 1.9% and Hyundai Motor Co. /zigman2/quotes/206684590/delayed KR:005380 -0.75%   /zigman2/quotes/204364212/delayed HYMTF -6.16%  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 -0.45%   /zigman2/quotes/202627887/composite RIO -0.15%  down 2%, and BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP 0.00%   /zigman2/quotes/208108397/composite BHP -0.25%  lower by 0.8%.

Helping to offset the mining-sector losses were energy giant Woodside Petroleum Ltd. /zigman2/quotes/203437212/delayed AU:WPL +0.60%   /zigman2/quotes/206770672/delayed WOPEF +3.37% , up 0.7%, and telecom heavyweight Telstra Corp. Ltd. /zigman2/quotes/201936124/delayed AU:TLS +0.40%   /zigman2/quotes/202275272/delayed TTRAF -3.16% , which advanced 1.1%.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
23,400.70
+206.90 +0.89%
Volume: 0.00
Feb. 19, 2020 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,655.81
+125.61 +0.46%
Volume: 1.47M
Feb. 19, 2020 4:08p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,160.40
+15.80 +0.22%
Volume: 118,001
Feb. 20, 2020 10:34a
loading...
/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.24
+0.04 +0.26%
Volume: 87.41M
Feb. 19, 2020 3:00p
P/E Ratio
10.89
Dividend Yield
1.43%
Market Cap
¥294.97 billion
Rev. per Employee
¥6.12M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,210.34
+1.46 +0.07%
Volume: 591,155
Feb. 19, 2020 3:30p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
111.2210
-0.1410 -0.1266%
Volume: 0.0000
Feb. 19, 2020 6:54p
loading...
/zigman2/quotes/202404490/delayed
JP : Japan: Tokyo
¥ 406.00
-3.00 -0.73%
Volume: 2.79M
Feb. 19, 2020 3:00p
P/E Ratio
11.65
Dividend Yield
4.93%
Market Cap
¥608.72 billion
Rev. per Employee
¥80.91M
loading...
/zigman2/quotes/200876874/delayed
US : U.S.: OTC
$ 3.77
+0.08 +2.17%
Volume: 1,200
Feb. 19, 2020 1:13p
P/E Ratio
11.99
Dividend Yield
N/A
Market Cap
$5.57 billion
Rev. per Employee
$733,027
loading...
/zigman2/quotes/203522406/delayed
JP : Japan: Tokyo
¥ 2,855.50
+11.50 +0.40%
Volume: 1.85M
Feb. 19, 2020 3:00p
P/E Ratio
15.50
Dividend Yield
5.04%
Market Cap
¥2180.82 billion
Rev. per Employee
¥95.93M
loading...
/zigman2/quotes/200526066/delayed
US : U.S.: OTC
$ 13.00
+0.07 +0.50%
Volume: 96,825
Feb. 19, 2020 3:59p
P/E Ratio
15.46
Dividend Yield
3.78%
Market Cap
$19.86 billion
Rev. per Employee
$868,462
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 2,975.00
-2.00 -0.07%
Volume: 4.77M
Feb. 19, 2020 3:00p
P/E Ratio
11.08
Dividend Yield
3.76%
Market Cap
¥5200.56 billion
Rev. per Employee
¥73.06M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 27.08
+0.03 +0.11%
Volume: 304,102
Feb. 19, 2020 6:30p
P/E Ratio
10.94
Dividend Yield
3.21%
Market Cap
$47.25 billion
Rev. per Employee
$661,808
loading...
/zigman2/quotes/208298710/delayed
JP : Japan: Tokyo
¥ 504.60
+9.90 +2.00%
Volume: 20.46M
Feb. 19, 2020 3:00p
P/E Ratio
47.32
Dividend Yield
1.98%
Market Cap
¥1935.83 billion
Rev. per Employee
¥85.36M
loading...
/zigman2/quotes/207656007/delayed
US : U.S.: OTC
$ 9.19
+0.17 +1.83%
Volume: 215,037
Feb. 19, 2020 3:59p
P/E Ratio
46.13
Dividend Yield
6.05%
Market Cap
$17.63 billion
Rev. per Employee
$773,563
loading...
/zigman2/quotes/203178794/delayed
JP : Japan: Tokyo
¥ 440.40
-5.70 -1.28%
Volume: 8.73M
Feb. 19, 2020 3:00p
P/E Ratio
7.24
Dividend Yield
4.77%
Market Cap
¥1024.67 billion
Rev. per Employee
¥45.74M
loading...
/zigman2/quotes/201424788/delayed
US : U.S.: OTC
$ 4.12
-0.09 -2.14%
Volume: 0.00
Feb. 18, 2020 1:21p
P/E Ratio
7.38
Dividend Yield
N/A
Market Cap
$9.46 billion
Rev. per Employee
$414,089
loading...
/zigman2/quotes/210166295/delayed
JP : Japan: Tokyo
¥ 1,676.00
0.00 0.00%
Volume: 626,400
Feb. 19, 2020 3:00p
P/E Ratio
7.26
Dividend Yield
0.60%
Market Cap
¥395.61 billion
Rev. per Employee
¥54.32M
loading...
/zigman2/quotes/202811351/delayed
US : U.S.: OTC
$ 3.11
-0.03 -0.80%
Volume: 10,112
Feb. 19, 2020 2:33p
P/E Ratio
10.32
Dividend Yield
0.45%
Market Cap
$3.60 billion
Rev. per Employee
$492,101
loading...
/zigman2/quotes/201391978/delayed
JP : Japan: Tokyo
¥ 536.10
-11.80 -2.15%
Volume: 6.47M
Feb. 19, 2020 3:00p
P/E Ratio
13.39
Dividend Yield
3.73%
Market Cap
¥832.14 billion
Rev. per Employee
¥49.77M
loading...
/zigman2/quotes/201035229/delayed
US : U.S.: OTC
$ 4.85
-0.08 -1.62%
Volume: 3,209
Feb. 19, 2020 3:46p
P/E Ratio
13.79
Dividend Yield
2.62%
Market Cap
$7.58 billion
Rev. per Employee
$450,764
loading...
/zigman2/quotes/207195052/delayed
JP : Japan: Tokyo
¥ 3,970.00
-4.00 -0.10%
Volume: 746,700
Feb. 19, 2020 3:00p
P/E Ratio
7.72
Dividend Yield
3.78%
Market Cap
¥1488.40 billion
Rev. per Employee
¥64.10M
loading...
/zigman2/quotes/206166011/delayed
US : U.S.: OTC
$ 3.64
+0.02 +0.55%
Volume: 110,344
Feb. 19, 2020 3:45p
P/E Ratio
7.71
Dividend Yield
2.88%
Market Cap
$13.55 billion
Rev. per Employee
$580,894
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,477.00
-13.00 -0.87%
Volume: 1.66M
Feb. 19, 2020 3:00p
P/E Ratio
15.09
Dividend Yield
1.69%
Market Cap
¥910.16 billion
Rev. per Employee
¥50.23M
loading...
/zigman2/quotes/207472799/delayed
US : U.S.: OTC
$ 14.32
+0.45 +3.24%
Volume: 0.00
Feb. 7, 2020 5:19p
P/E Ratio
15.92
Dividend Yield
N/A
Market Cap
$8.32 billion
Rev. per Employee
$454,670
loading...
/zigman2/quotes/207256514/delayed
TW : Taiwan
NT$ 83.80
+0.40 +0.48%
Volume: 25.48M
Feb. 19, 2020 1:30p
P/E Ratio
9.04
Dividend Yield
4.77%
Market Cap
NT$1156.05 billion
Rev. per Employee
NT$8.60M
loading...
/zigman2/quotes/205520950/delayed
US : U.S.: OTC
$ 5.69
+0.14 +2.52%
Volume: 243,598
Feb. 19, 2020 3:56p
P/E Ratio
9.50
Dividend Yield
3.18%
Market Cap
$38.40 billion
Rev. per Employee
$286,303
loading...
/zigman2/quotes/205520950/delayed
US : U.S.: OTC
$ 5.69
+0.14 +2.52%
Volume: 243,598
Feb. 19, 2020 3:56p
P/E Ratio
9.50
Dividend Yield
3.18%
Market Cap
$38.40 billion
Rev. per Employee
$286,303
loading...
/zigman2/quotes/201795755/delayed
HK : Hong Kong
HK$ 0.71
0.00 0.00%
Volume: 13.33M
Feb. 19, 2020 4:08p
P/E Ratio
8.07
Dividend Yield
7.04%
Market Cap
HK$5.99 billion
Rev. per Employee
HK$5.73M
loading...
/zigman2/quotes/201638706/delayed
US : U.S.: OTC
$ 0.18
-0.01 -6.49%
Volume: 0.00
Feb. 13, 2020 12:08p
P/E Ratio
8.00
Dividend Yield
5.69%
Market Cap
$768.67 million
Rev. per Employee
$731,141
loading...
/zigman2/quotes/200575701/delayed
HK : Hong Kong
HK$ 28.20
-0.80 -2.76%
Volume: 636,000
Feb. 19, 2020 4:08p
P/E Ratio
31.75
Dividend Yield
1.84%
Market Cap
HK$74.21 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204689658/delayed
US : U.S.: OTC
$ 7.36
+0.05 +0.68%
Volume: 92.00
Feb. 19, 2020 5:20p
P/E Ratio
32.48
Dividend Yield
1.17%
Market Cap
$9.55 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210188047/delayed
CN : China: Shanghai
¥ 35.53
-0.17 -0.48%
Volume: 41.95M
Feb. 19, 2020 3:00p
P/E Ratio
9.91
Dividend Yield
2.65%
Market Cap
¥900.35 billion
Rev. per Employee
¥3.10M
loading...
/zigman2/quotes/208876947/delayed
US : U.S.: OTC
$ 25.00
+0.17 +0.68%
Volume: 7,932
Feb. 19, 2020 3:47p
P/E Ratio
9.94
Dividend Yield
2.26%
Market Cap
$22.90 billion
Rev. per Employee
$468,258
loading...
/zigman2/quotes/204629388/delayed
CN : China: Shanghai
¥ 3.48
+0.03 +0.87%
Volume: 158.26M
Feb. 19, 2020 3:00p
P/E Ratio
5.75
Dividend Yield
5.00%
Market Cap
¥1207.44 billion
Rev. per Employee
¥1.80M
loading...
/zigman2/quotes/207749118/delayed
US : U.S.: OTC
$ 10.28
+0.18 +1.73%
Volume: 11,896
Feb. 19, 2020 3:45p
P/E Ratio
4.62
Dividend Yield
5.05%
Market Cap
$12.50 billion
Rev. per Employee
$276,273
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 5.32
+0.01 +0.19%
Volume: 52.98M
Feb. 19, 2020 3:00p
P/E Ratio
5.17
Dividend Yield
5.64%
Market Cap
¥394.34 billion
Rev. per Employee
¥4.56M
loading...
/zigman2/quotes/202128064/delayed
US : U.S.: OTC
$ 16.13
-1.77 -9.89%
Volume: 0.00
Feb. 13, 2020 9:48a
P/E Ratio
4.46
Dividend Yield
5.80%
Market Cap
$23.26 billion
Rev. per Employee
$697,896
loading...
/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
41,300.00
-50.00 -0.12%
Volume: 818,025
Feb. 19, 2020 3:30p
P/E Ratio
10.52
Dividend Yield
2.78%
Market Cap
₩16578.50 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205439169/delayed
US : U.S.: OTC
$ 30.30
+2.30 +8.21%
Volume: 100.00
Nov. 20, 2017 12:00a
P/E Ratio
8.89
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
131,500
-1,000 -0.75%
Volume: 776,121
Feb. 19, 2020 3:30p
P/E Ratio
16.91
Dividend Yield
3.04%
Market Cap
₩34851.30 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204364212/delayed
US : U.S.: OTC
$ 31.25
-2.05 -6.16%
Volume: 575.00
Feb. 19, 2020 10:39a
P/E Ratio
9.30
Dividend Yield
N/A
Market Cap
$1.45 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 97.65
-0.44 -0.45%
Volume: 164,418
Feb. 20, 2020 10:34a
P/E Ratio
8.90
Dividend Yield
9.19%
Market Cap
$159.63 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 54.34
-0.08 -0.15%
Volume: 904,808
Feb. 19, 2020 6:30p
P/E Ratio
6.90
Dividend Yield
6.09%
Market Cap
$68.55 billion
Rev. per Employee
$852,406
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.50
0.00 0.00%
Volume: 769,252
Feb. 20, 2020 10:34a
P/E Ratio
16.20
Dividend Yield
5.54%
Market Cap
$196.10 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 51.43
-0.13 -0.25%
Volume: 2.03M
Feb. 19, 2020 6:30p
P/E Ratio
15.14
Dividend Yield
5.17%
Market Cap
$75.91 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 33.43
+0.20 +0.60%
Volume: 314,190
Feb. 20, 2020 10:34a
P/E Ratio
64.67
Dividend Yield
4.06%
Market Cap
$30.92 billion
Rev. per Employee
$1.92M
loading...
/zigman2/quotes/206770672/delayed
US : U.S.: OTC
$ 23.53
+0.77 +3.37%
Volume: 47.00
Feb. 19, 2020 5:20p
P/E Ratio
64.02
Dividend Yield
3.87%
Market Cap
$20.79 billion
Rev. per Employee
$1.43M
loading...
/zigman2/quotes/201936124/delayed
AU : Australia: Sydney
$ 3.77
+0.02 +0.40%
Volume: 2.73M
Feb. 20, 2020 10:34a
P/E Ratio
21.75
Dividend Yield
4.25%
Market Cap
$44.32 billion
Rev. per Employee
$774,100
loading...
/zigman2/quotes/202275272/delayed
US : U.S.: OTC
$ 2.45
-0.08 -3.16%
Volume: 1,500
Feb. 19, 2020 10:55a
P/E Ratio
20.40
Dividend Yield
N/A
Market Cap
$29.47 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.