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Aug. 15, 2013, 4:23 a.m. EDT

Japan stocks slide, lead losses in Asia

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Most Asian markets fell Thursday after a pullback on Wall Street, with Japanese stocks tumbling to give back some gains recorded in the last two days, while an increase in gold prices limited losses for Australian shares.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -0.42%  skidded 2.1%, Taiwan’s Taiex  gave up 0.8% and the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.75% lost 0.9%.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.42%  slipped 0.1%, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.57%  ended flat. The South Korean market was closed for a holiday.


Shutterstock Enlarge Image
Australia’s stock market finds some support from higher gold prices (pictured: Sydney)

The performance came after the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.45%  Wednesday dropped more than 100 points for the first time since June, amid concerns about rising Treasury yields, and some weak results. A sharp drop in shares of technology major and Dow component Cisco Corp. /zigman2/quotes/209509471/composite CSCO -0.35%  in after-hours trade also weighed on Asia.

“The old adage that fear sells couldn’t be truer at the moment. Chatter around a potential 1987-type crash or a looming market top in U.S. equities is growing louder by the day,” said Rivkin analyst Tim Radford.

However, “as long as the big investors are confident in the U.S. economy and the U.S. equity market, we shouldn’t see an overly big selloff from current levels in the near term,” he said.

Losses in Tokyo surfaced across several sectors, coming as the U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.9821%  straddled the ¥98-level.

Mitsubishi Motors Corp. /zigman2/quotes/202404490/delayed JP:7211 +1.15%   /zigman2/quotes/200876874/composite MMTOF -0.24%  slid 2.9%, Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 -0.54%   /zigman2/quotes/202333059/composite PCRFY -1.38%  shed 3.2%, Fast Retailing Co. /zigman2/quotes/200663563/delayed JP:9983 +0.23%   /zigman2/quotes/203924235/composite FRCOY -2.19%  gave up 3.3%, Daiwa Securities Group Inc. /zigman2/quotes/201391978/delayed JP:8601 -1.44%   /zigman2/quotes/201035229/composite DSEEY +4.12%  lost 3.7%, and telecommunications major Softbank Corp. /zigman2/quotes/207303954/delayed JP:9984 -0.61% /zigman2/quotes/202815238/composite SFTBF -2.23%  declined 3.3%.

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In Sydney, gold miners climbed after the metal’s prices rose 1% overnight. Shares of Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM -1.75% /zigman2/quotes/206026738/composite NCMGF +0.98% gained 1.3%, and Kingsgate Consolidated Ltd. /zigman2/quotes/209270359/delayed AU:KCN -5.24%   /zigman2/quotes/205153395/composite KSKGF +10.40%  advanced 3.1%.

Shares of AMP Ltd. /zigman2/quotes/206014407/delayed AU:AMP -0.38%   /zigman2/quotes/206400018/composite AMLTF -1.75% picked up 3.5% after the firm said first-half underlying profit fell 9% but still came in above its projections made earlier.

In Hong Kong, a slew of blue-chips were in focus after reporting results.

Shares of personal-computer maker Lenovo Group Ltd. /zigman2/quotes/205368244/delayed HK:992 -1.43% /zigman2/quotes/204000062/composite LNVGY -0.67%  rose 2.1% following a 23% increase in its fiscal-first-quarter profit, and logistics firm Li & Fung soared 11.6% as investors cheered its outlook despite a sharp drop in half-yearly profits.

Internet major Tencent Holdings Ltd. /zigman2/quotes/204605823/delayed HK:700 -1.10%   /zigman2/quotes/207908563/composite TCEHY -4.71% fell 0.5% after its profits fell short of estimates.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,162.83
-120.20 -0.42%
Volume: 0.00
Nov. 28, 2022 3:15p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,078.55
-23.14 -0.75%
Volume: 30.58B
Nov. 28, 2022 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,229.10
-30.40 -0.42%
Volume: 699,813
Nov. 28, 2022 5:39p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
17,297.94
-275.64 -1.57%
Volume: 2.80M
Nov. 28, 2022 4:08p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,347.03
+152.97 +0.45%
Volume: 0.00
Nov. 25, 2022 2:32p
loading...
/zigman2/quotes/209509471/composite
US : U.S.: Nasdaq
$ 48.40
-0.17 -0.35%
Volume: 8.49M
Nov. 25, 2022 1:00p
P/E Ratio
17.50
Dividend Yield
3.14%
Market Cap
$198.83 billion
Rev. per Employee
$627,719
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
137.8240
-1.3670 -0.9821%
Volume: 0.0000
Nov. 28, 2022 6:24a
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/zigman2/quotes/202404490/delayed
JP : Japan: Tokyo
¥ 615.00
+7.00 +1.15%
Volume: 13.21M
Nov. 28, 2022 3:00p
P/E Ratio
6.78
Dividend Yield
0.00%
Market Cap
¥904.61 billion
Rev. per Employee
¥80.10M
loading...
/zigman2/quotes/200876874/composite
US : U.S.: OTC
$ 4.15
-0.01 -0.24%
Volume: 0.00
Nov. 21, 2022 2:14p
P/E Ratio
5.77
Dividend Yield
N/A
Market Cap
$6.46 billion
Rev. per Employee
$645,867
loading...
/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 1,279.00
-7.00 -0.54%
Volume: 5.11M
Nov. 28, 2022 3:00p
P/E Ratio
14.24
Dividend Yield
2.35%
Market Cap
¥3001.46 billion
Rev. per Employee
¥32.97M
loading...
/zigman2/quotes/202333059/composite
US : U.S.: OTC
$ 9.28
-0.13 -1.38%
Volume: 66,539
Nov. 25, 2022 12:57p
P/E Ratio
12.84
Dividend Yield
2.10%
Market Cap
$21.55 billion
Rev. per Employee
$265,727
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 80,070.00
+180.00 +0.23%
Volume: 545,900
Nov. 28, 2022 3:00p
P/E Ratio
29.97
Dividend Yield
0.85%
Market Cap
¥8161.58 billion
Rev. per Employee
¥39.97M
loading...
/zigman2/quotes/203924235/composite
US : U.S.: OTC
$ 57.65
-1.29 -2.19%
Volume: 5,308
Nov. 25, 2022 12:31p
P/E Ratio
25.75
Dividend Yield
0.59%
Market Cap
$58.61 billion
Rev. per Employee
$328,184
loading...
/zigman2/quotes/201391978/delayed
JP : Japan: Tokyo
¥ 614.00
-9.00 -1.44%
Volume: 3.95M
Nov. 28, 2022 3:00p
P/E Ratio
12.02
Dividend Yield
4.40%
Market Cap
¥924.61 billion
Rev. per Employee
¥44.47M
loading...
/zigman2/quotes/201035229/composite
US : U.S.: OTC
$ 4.61
+0.18 +4.12%
Volume: 3,388
Nov. 25, 2022 10:44a
P/E Ratio
11.04
Dividend Yield
4.25%
Market Cap
$6.64 billion
Rev. per Employee
$357,675
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,042.00
-37.00 -0.61%
Volume: 10.07M
Nov. 28, 2022 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥9595.38 billion
Rev. per Employee
¥121.97M
loading...
/zigman2/quotes/202815238/composite
US : U.S.: OTC
$ 41.91
-0.96 -2.23%
Volume: 51.00
Nov. 22, 2022 11:25a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$68.54 billion
Rev. per Employee
$993,721
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 19.65
-0.35 -1.75%
Volume: 2.72M
Nov. 28, 2022 4:10p
P/E Ratio
13.78
Dividend Yield
2.02%
Market Cap
$17.82 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206026738/composite
US : U.S.: OTC
$ 13.42
+0.13 +0.98%
Volume: 25,358
Nov. 25, 2022 12:59p
P/E Ratio
13.01
Dividend Yield
2.05%
Market Cap
$12.03 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209270359/delayed
AU : Australia: Sydney
$ 1.81
-0.10 -5.24%
Volume: 631,609
Nov. 28, 2022 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$422.72 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/205153395/composite
US : U.S.: OTC
$ 1.38
+0.13 +10.40%
Volume: 0.00
Nov. 23, 2022 3:29p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$293.80 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/206014407/delayed
AU : Australia: Sydney
$ 1.33
-0.0050 -0.38%
Volume: 9.29M
Nov. 28, 2022 4:10p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.09 billion
Rev. per Employee
$446,341
loading...
/zigman2/quotes/206400018/composite
US : U.S.: OTC
$ 0.75
-0.01 -1.75%
Volume: 0.00
Oct. 21, 2022 1:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.32 billion
Rev. per Employee
$324,403
loading...
/zigman2/quotes/205368244/delayed
HK : Hong Kong
$ 6.20
-0.09 -1.43%
Volume: 32.83M
Nov. 28, 2022 4:08p
P/E Ratio
4.81
Dividend Yield
6.13%
Market Cap
$76.29 billion
Rev. per Employee
$7.39M
loading...
/zigman2/quotes/204000062/composite
US : U.S.: OTC
$ 16.30
-0.11 -0.67%
Volume: 25,454
Nov. 25, 2022 12:47p
P/E Ratio
4.95
Dividend Yield
5.70%
Market Cap
$9.76 billion
Rev. per Employee
$944,873
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
$ 270.00
-3.00 -1.10%
Volume: 33.50M
Nov. 28, 2022 4:08p
P/E Ratio
12.35
Dividend Yield
0.59%
Market Cap
$2593.01 billion
Rev. per Employee
$5.87M
loading...
/zigman2/quotes/207908563/composite
US : U.S.: OTC
$ 34.58
-1.71 -4.71%
Volume: 2.81M
Nov. 25, 2022 1:00p
P/E Ratio
12.36
Dividend Yield
0.52%
Market Cap
$331.68 billion
Rev. per Employee
$750,206
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Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Follow him on Twitter @MktwKumar.

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