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 -0.65%  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 +2.40%  each climbed 0.3% in late trading, while Australia’s S&P/ASX 200 index /zigman2/quotes/210598100/delayed AU:XJO +1.12%  closed with a 0.5% gain.

On the downside, the Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 +2.40%  dipped 0.3% in late-session moves, while South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.73% .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 -0.6412%  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 +0.20%   /zigman2/quotes/200876874/delayed MMTOF +5.19%  rose 5.9%, Subaru maker Fuji Heavy industries Ltd. /zigman2/quotes/203522406/delayed JP:7270 +2.20%   /zigman2/quotes/200526066/delayed FUJHY +5.10%  climbed 1.7%, Honda Motor Co. /zigman2/quotes/200490352/delayed JP:7267 +1.12%   /zigman2/quotes/207173990/composite HMC +7.20%  added 2.6% and Nissan Motor Co. /zigman2/quotes/208298710/delayed JP:7201 +1.61%   /zigman2/quotes/207656007/delayed NSANY +5.62%  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 +0.89%   /zigman2/quotes/201424788/delayed RSNHF +3.50%  surged 13.7%, Shinsei Bank Ltd. /zigman2/quotes/210166295/delayed JP:8303 -0.05%   climbed 8.4%, and Daiwa Securities Group Inc. /zigman2/quotes/201391978/delayed JP:8601 -0.27% /zigman2/quotes/201035229/delayed DSEEY +5.47%  traded 6.2% higher.

Sumitomo Mitsui Trust Holdings Inc. /zigman2/quotes/207195052/delayed JP:8309 +0.42%   /zigman2/quotes/206166011/delayed SUTNY +1.88%  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 0.00%   /zigman2/quotes/207472799/delayed SHCAF -6.25%   fell 3.1% after the Asahi Shimbun reported Taiwan’s Hon Hai Precision Industry Co. /zigman2/quotes/207256514/delayed TW:2317 +2.73%   /zigman2/quotes/205520950/delayed HNHPF +2.56% /zigman2/quotes/205520950/delayed HNHPF +2.56% 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 +3.80%   /zigman2/quotes/204689658/delayed PRDSY -0.09%  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 +3.65%   /zigman2/quotes/208876947/delayed CIHKY -0.85%  down 1.4%, and Agricultural Bank of China Ltd. /zigman2/quotes/204629388/delayed CN:601288 +0.35%   /zigman2/quotes/207749118/delayed ACGBY 0.00%  lower by 1.1%, while Bank of Communications Co. /zigman2/quotes/207155262/delayed CN:601328 +0.66%   /zigman2/quotes/202128064/delayed BCMXY +2.28%  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 +0.26%   /zigman2/quotes/204364212/delayed HYMTF -0.57%  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 -0.07%   /zigman2/quotes/202627887/composite RIO +0.63%  down 2%, and BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP +2.22%   /zigman2/quotes/208108397/composite BHP +1.91%  lower by 0.8%.

Helping to offset the mining-sector losses were energy giant Woodside Petroleum Ltd.   /zigman2/quotes/206770672/delayed WOPEF +1.10% , up 0.7%, and telecom heavyweight Telstra Corp. Ltd. /zigman2/quotes/201936124/delayed AU:TLS -1.25%   /zigman2/quotes/202275272/delayed TTRAF +0.08% , which advanced 1.1%.

/zigman2/quotes/210597971/delayed
add Add to watchlist JP:100000018
JP : Nikkei
27,819.33
-180.63 -0.65%
Volume: 0.00
Aug. 10, 2022 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
20,082.43
+471.59 +2.40%
Volume: 1.60M
Aug. 11, 2022 4:08p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,071.00
+78.30 +1.12%
Volume: 772,600
Aug. 11, 2022 5:10p
loading...
/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 12.35
+0.29 +2.40%
Volume: 139.93M
Aug. 11, 2022 3:00p
P/E Ratio
6.14
Dividend Yield
1.85%
Market Cap
¥235.20 billion
Rev. per Employee
¥6.67M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,523.78
+42.90 +1.73%
Volume: 505,245
Aug. 11, 2022 3:30p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
132.0330
-0.8520 -0.6412%
Volume: 0.0000
Aug. 11, 2022 8:28a
loading...
/zigman2/quotes/202404490/delayed
JP : Japan: Tokyo
¥ 495.00
+1.00 +0.20%
Volume: 16.59M
Aug. 10, 2022 3:00p
P/E Ratio
6.92
Dividend Yield
0.00%
Market Cap
¥735.00 billion
Rev. per Employee
¥74.17M
loading...
/zigman2/quotes/200876874/delayed
US : U.S.: OTC
$ 3.65
+0.18 +5.19%
Volume: 170.00
Aug. 10, 2022 10:39a
P/E Ratio
6.08
Dividend Yield
N/A
Market Cap
$5.28 billion
Rev. per Employee
$632,513
loading...
/zigman2/quotes/203522406/delayed
JP : Japan: Tokyo
¥ 2,457.50
+53.00 +2.20%
Volume: 3.23M
Aug. 10, 2022 3:00p
P/E Ratio
23.95
Dividend Yield
2.28%
Market Cap
¥1844.08 billion
Rev. per Employee
¥79.75M
loading...
/zigman2/quotes/200526066/delayed
US : U.S.: OTC
$ 9.27
+0.45 +5.10%
Volume: 55,070
Aug. 10, 2022 3:57p
P/E Ratio
21.27
Dividend Yield
1.57%
Market Cap
$13.66 billion
Rev. per Employee
$661,701
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,426.00
+38.00 +1.12%
Volume: 4.24M
Aug. 10, 2022 3:00p
P/E Ratio
9.28
Dividend Yield
3.50%
Market Cap
¥5839.42 billion
Rev. per Employee
¥71.32M
loading...
/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 26.79
+1.80 +7.20%
Volume: 1.47M
Aug. 10, 2022 4:00p
P/E Ratio
7.30
Dividend Yield
3.08%
Market Cap
$43.27 billion
Rev. per Employee
$634,714
loading...
/zigman2/quotes/208298710/delayed
JP : Japan: Tokyo
¥ 529.40
+8.40 +1.61%
Volume: 11.47M
Aug. 10, 2022 3:00p
P/E Ratio
13.99
Dividend Yield
0.94%
Market Cap
¥2039.34 billion
Rev. per Employee
¥63.78M
loading...
/zigman2/quotes/207656007/delayed
US : U.S.: OTC
$ 8.08
+0.43 +5.62%
Volume: 298,465
Aug. 10, 2022 3:59p
P/E Ratio
12.51
Dividend Yield
0.57%
Market Cap
$15.11 billion
Rev. per Employee
$544,320
loading...
/zigman2/quotes/203178794/delayed
JP : Japan: Tokyo
¥ 509.40
+4.50 +0.89%
Volume: 6.04M
Aug. 10, 2022 3:00p
P/E Ratio
11.21
Dividend Yield
4.12%
Market Cap
¥1209.85 billion
Rev. per Employee
¥41.39M
loading...
/zigman2/quotes/201424788/delayed
US : U.S.: OTC
$ 3.76
+0.13 +3.50%
Volume: 0.00
Aug. 4, 2022 10:14a
P/E Ratio
9.62
Dividend Yield
N/A
Market Cap
$9.04 billion
Rev. per Employee
$368,325
loading...
/zigman2/quotes/210166295/delayed
JP : Japan: Tokyo
¥ 1,944.00
-1.00 -0.05%
Volume: 536,000
Aug. 10, 2022 3:00p
P/E Ratio
177.96
Dividend Yield
0.62%
Market Cap
¥405.81 billion
Rev. per Employee
¥55.73M
loading...
/zigman2/quotes/201391978/delayed
JP : Japan: Tokyo
¥ 597.20
-1.60 -0.27%
Volume: 4.34M
Aug. 10, 2022 3:00p
P/E Ratio
10.80
Dividend Yield
5.53%
Market Cap
¥827.18 billion
Rev. per Employee
¥41.78M
loading...
/zigman2/quotes/201035229/delayed
US : U.S.: OTC
$ 4.54
+0.24 +5.47%
Volume: 79,482
Aug. 10, 2022 3:45p
P/E Ratio
9.44
Dividend Yield
4.32%
Market Cap
$6.13 billion
Rev. per Employee
$372,554
loading...
/zigman2/quotes/207195052/delayed
JP : Japan: Tokyo
¥ 4,255.00
+18.00 +0.42%
Volume: 758,500
Aug. 10, 2022 3:00p
P/E Ratio
8.72
Dividend Yield
4.70%
Market Cap
¥1587.07 billion
Rev. per Employee
¥56.46M
loading...
/zigman2/quotes/206166011/delayed
US : U.S.: OTC
$ 3.25
+0.06 +1.88%
Volume: 83,310
Aug. 10, 2022 3:59p
P/E Ratio
7.86
Dividend Yield
3.20%
Market Cap
$11.76 billion
Rev. per Employee
$502,449
loading...
/zigman2/quotes/203224600/delayed
JP : Japan: Tokyo
¥ 1,008.00
0.00 0.00%
Volume: 1.94M
Aug. 10, 2022 3:00p
P/E Ratio
7.81
Dividend Yield
3.97%
Market Cap
¥654.44 billion
Rev. per Employee
¥52.06M
loading...
/zigman2/quotes/207472799/delayed
US : U.S.: OTC
$ 7.50
-0.50 -6.25%
Volume: 200.00
June 14, 2022 9:38a
P/E Ratio
6.84
Dividend Yield
N/A
Market Cap
$4.51 billion
Rev. per Employee
$463,239
loading...
/zigman2/quotes/207256514/delayed
TW : Taiwan
NT$ 113.00
+3.00 +2.73%
Volume: 62.48M
Aug. 11, 2022 1:30p
P/E Ratio
11.32
Dividend Yield
4.60%
Market Cap
NT$1510.90 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205520950/delayed
US : U.S.: OTC
$ 7.20
+0.18 +2.56%
Volume: 115,203
Aug. 10, 2022 3:58p
P/E Ratio
10.06
Dividend Yield
3.39%
Market Cap
$50.36 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205520950/delayed
US : U.S.: OTC
$ 7.20
+0.18 +2.56%
Volume: 115,203
Aug. 10, 2022 3:58p
P/E Ratio
10.06
Dividend Yield
3.39%
Market Cap
$50.36 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200575701/delayed
HK : Hong Kong
$ 45.10
+1.65 +3.80%
Volume: 528,621
Aug. 11, 2022 4:08p
P/E Ratio
34.05
Dividend Yield
1.26%
Market Cap
$114.25 billion
Rev. per Employee
$2.52M
loading...
/zigman2/quotes/204689658/delayed
US : U.S.: OTC
$ 11.45
-0.01 -0.09%
Volume: 82.00
Aug. 5, 2022 3:36p
P/E Ratio
33.74
Dividend Yield
0.83%
Market Cap
$14.70 billion
Rev. per Employee
$322,716
loading...
/zigman2/quotes/210188047/delayed
CN : China: Shanghai
¥ 34.36
+1.21 +3.65%
Volume: 82.67M
Aug. 11, 2022 3:00p
P/E Ratio
6.99
Dividend Yield
4.43%
Market Cap
¥853.51 billion
Rev. per Employee
¥4.39M
loading...
/zigman2/quotes/208876947/delayed
US : U.S.: OTC
$ 25.54
-0.22 -0.85%
Volume: 24,597
Aug. 10, 2022 3:45p
P/E Ratio
6.67
Dividend Yield
3.81%
Market Cap
$126.36 billion
Rev. per Employee
$680,188
loading...
/zigman2/quotes/204629388/delayed
CN : China: Shanghai
¥ 2.85
+0.01 +0.35%
Volume: 202.81M
Aug. 11, 2022 3:00p
P/E Ratio
4.05
Dividend Yield
7.26%
Market Cap
¥975.16 billion
Rev. per Employee
¥2.61M
loading...
/zigman2/quotes/207749118/delayed
US : U.S.: OTC
$ 8.24
0.00 0.00%
Volume: 170,366
Aug. 10, 2022 3:53p
P/E Ratio
3.01
Dividend Yield
7.82%
Market Cap
$144.37 billion
Rev. per Employee
$406,847
loading...
/zigman2/quotes/207155262/delayed
CN : China: Shanghai
¥ 4.60
+0.03 +0.66%
Volume: 43.78M
Aug. 11, 2022 3:00p
P/E Ratio
3.90
Dividend Yield
7.72%
Market Cap
¥321.57 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202128064/delayed
US : U.S.: OTC
$ 15.28
+0.34 +2.28%
Volume: 118.00
Aug. 10, 2022 3:16p
P/E Ratio
3.34
Dividend Yield
7.48%
Market Cap
$47.61 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
80,800.00
+100.00 +0.12%
Volume: 1.20M
Aug. 11, 2022 3:30p
P/E Ratio
6.81
Dividend Yield
3.71%
Market Cap
₩32675.90 billion
Rev. per Employee
₩2.12B
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
2.97
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
$1.76M
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
193,000
+500.00 +0.26%
Volume: 731,121
Aug. 11, 2022 3:30p
P/E Ratio
9.63
Dividend Yield
2.59%
Market Cap
₩44387.10 billion
Rev. per Employee
₩1.75B
loading...
/zigman2/quotes/204364212/delayed
US : U.S.: OTC
$ 36.50
-0.21 -0.57%
Volume: 940.00
Aug. 10, 2022 3:48p
P/E Ratio
4.23
Dividend Yield
N/A
Market Cap
$34.02 billion
Rev. per Employee
$1.46M
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 95.28
-0.06 -0.07%
Volume: 1.88M
Aug. 11, 2022 4:10p
P/E Ratio
6.36
Dividend Yield
10.98%
Market Cap
$144.75 billion
Rev. per Employee
$1.68M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 59.04
+0.37 +0.63%
Volume: 3.61M
Aug. 10, 2022 4:00p
P/E Ratio
5.41
Dividend Yield
11.57%
Market Cap
$100.94 billion
Rev. per Employee
$1.23M
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 39.15
+0.85 +2.22%
Volume: 7.43M
Aug. 11, 2022 4:10p
P/E Ratio
8.81
Dividend Yield
12.25%
Market Cap
$196.49 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 54.93
+1.03 +1.91%
Volume: 2.32M
Aug. 10, 2022 4:00p
P/E Ratio
8.38
Dividend Yield
12.74%
Market Cap
$137.02 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206770672/delayed
US : U.S.: OTC
$ 22.60
+0.25 +1.10%
Volume: 550,306
Aug. 10, 2022 12:24p
P/E Ratio
11.07
Dividend Yield
5.97%
Market Cap
$40.81 billion
Rev. per Employee
$1.89M
loading...
/zigman2/quotes/201936124/delayed
AU : Australia: Sydney
$ 3.96
-0.05 -1.25%
Volume: 40.84M
Aug. 11, 2022 4:10p
P/E Ratio
32.22
Dividend Yield
4.04%
Market Cap
$46.48 billion
Rev. per Employee
$780,196
loading...
/zigman2/quotes/202275272/delayed
US : U.S.: OTC
$ 2.65
+0.0021 +0.08%
Volume: 1,048
July 21, 2022 10:48a
P/E Ratio
28.65
Dividend Yield
N/A
Market Cap
$31.90 billion
Rev. per Employee
$586,359
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.