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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 -0.69%  skidded 2.1%, Taiwan’s Taiex  gave up 0.8% and the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +2.28% lost 0.9%.

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.07%  slipped 0.1%, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.52%  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 -0.09%  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 -0.74%  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 +0.1512%  straddled the ¥98-level.

Mitsubishi Motors Corp. /zigman2/quotes/202404490/delayed JP:7211 -1.21%   /zigman2/quotes/200876874/delayed MMTOF -1.60%  slid 2.9%, Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 -0.99%   /zigman2/quotes/202333059/delayed PCRFY -1.52%  shed 3.2%, Fast Retailing Co. /zigman2/quotes/200663563/delayed JP:9983 -1.51%   /zigman2/quotes/203924235/delayed FRCOY -1.73%  gave up 3.3%, Daiwa Securities Group Inc. /zigman2/quotes/201391978/delayed JP:8601 -0.88%   /zigman2/quotes/201035229/delayed DSEEY -1.96%  lost 3.7%, and telecommunications major Softbank Corp. /zigman2/quotes/207303954/delayed JP:9984 +0.42% /zigman2/quotes/202815238/delayed SFTBF -1.63%  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 -0.75% /zigman2/quotes/206026738/delayed NCMGF +4.67% gained 1.3%, and Kingsgate Consolidated Ltd. /zigman2/quotes/209270359/delayed AU:KCN +0.93%   /zigman2/quotes/205153395/delayed KSKGF +16.80%  advanced 3.1%.

Shares of AMP Ltd. /zigman2/quotes/206014407/delayed AU:AMP +3.56%   /zigman2/quotes/206400018/delayed AMLTF -0.84% 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 +0.94% /zigman2/quotes/204000062/delayed LNVGY -1.15%  rose 2.1% following a 23% increase in its fiscal-first-quarter profit, and logistics firm Li & Fung /zigman2/quotes/201795755/delayed HK:494 +1.39% /zigman2/quotes/201638706/delayed LFUGY -6.49% 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 +0.39%   /zigman2/quotes/207908563/delayed TCEHY -0.41% fell 0.5% after its profits fell short of estimates.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,523.24
-164.35 -0.69%
Volume: 0.00
Feb. 17, 2020 3:15p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,983.62
+66.61 +2.28%
Volume: 31.32B
Feb. 17, 2020 3:01p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,125.10
-5.10 -0.07%
Volume: 501,267
Feb. 17, 2020 5:53p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,959.60
+144.00 +0.52%
Volume: 1.41M
Feb. 17, 2020 4:08p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,398.08
-25.23 -0.09%
Volume: 232.55M
Feb. 14, 2020 5:06p
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/zigman2/quotes/209509471/composite
US : U.S.: Nasdaq
$ 46.97
-0.35 -0.74%
Volume: 26.75M
Feb. 14, 2020 4:00p
P/E Ratio
18.38
Dividend Yield
3.07%
Market Cap
$199.26 billion
Rev. per Employee
$684,933
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.9330
+0.1660 +0.1512%
Volume: 0.0000
Feb. 17, 2020 2:12p
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/zigman2/quotes/202404490/delayed
JP : Japan: Tokyo
¥ 408.00
-5.00 -1.21%
Volume: 2.97M
Feb. 17, 2020 3:00p
P/E Ratio
11.71
Dividend Yield
4.90%
Market Cap
¥614.67 billion
Rev. per Employee
¥80.91M
loading...
/zigman2/quotes/200876874/delayed
US : U.S.: OTC
$ 3.69
-0.06 -1.60%
Volume: 1,200
Feb. 14, 2020 11:31a
P/E Ratio
11.74
Dividend Yield
N/A
Market Cap
$5.49 billion
Rev. per Employee
$733,027
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/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 1,195.50
-12.00 -0.99%
Volume: 5.76M
Feb. 17, 2020 3:00p
P/E Ratio
9.67
Dividend Yield
2.51%
Market Cap
¥2816.93 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/202333059/delayed
US : U.S.: OTC
$ 10.99
-0.17 -1.52%
Volume: 187,252
Feb. 14, 2020 3:56p
P/E Ratio
9.71
Dividend Yield
2.07%
Market Cap
$25.66 billion
Rev. per Employee
$269,385
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/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 58,570.00
-900.00 -1.51%
Volume: 504,600
Feb. 17, 2020 3:00p
P/E Ratio
37.42
Dividend Yield
0.85%
Market Cap
¥6070.13 billion
Rev. per Employee
¥40.83M
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/zigman2/quotes/203924235/delayed
US : U.S.: OTC
$ 53.83
-0.95 -1.73%
Volume: 11,099
Feb. 14, 2020 3:47p
P/E Ratio
37.71
Dividend Yield
0.65%
Market Cap
$55.30 billion
Rev. per Employee
$369,206
loading...
/zigman2/quotes/201391978/delayed
JP : Japan: Tokyo
¥ 553.10
-4.90 -0.88%
Volume: 2.71M
Feb. 17, 2020 3:00p
P/E Ratio
13.81
Dividend Yield
3.62%
Market Cap
¥847.48 billion
Rev. per Employee
¥49.77M
loading...
/zigman2/quotes/201035229/delayed
US : U.S.: OTC
$ 5.00
-0.10 -1.96%
Volume: 12,035
Feb. 14, 2020 3:46p
P/E Ratio
14.20
Dividend Yield
2.54%
Market Cap
$7.72 billion
Rev. per Employee
$450,764
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,540.00
+23.00 +0.42%
Volume: 15.56M
Feb. 17, 2020 3:00p
P/E Ratio
37.17
Dividend Yield
0.79%
Market Cap
¥11427.70 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/202815238/delayed
US : U.S.: OTC
$ 49.55
-0.82 -1.63%
Volume: 43,869
Feb. 14, 2020 3:47p
P/E Ratio
38.58
Dividend Yield
N/A
Market Cap
$102.64 billion
Rev. per Employee
$1.15M
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 27.78
-0.21 -0.75%
Volume: 2.68M
Feb. 17, 2020 4:10p
P/E Ratio
26.67
Dividend Yield
1.18%
Market Cap
$21.47 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206026738/delayed
US : U.S.: OTC
$ 20.40
+0.91 +4.67%
Volume: 139.00
Feb. 14, 2020 5:20p
P/E Ratio
28.11
Dividend Yield
N/A
Market Cap
$14.42 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209270359/delayed
AU : Australia: Sydney
$ 0.54
+0.0050 +0.93%
Volume: 79,467
Feb. 17, 2020 4:10p
P/E Ratio
14.59
Dividend Yield
N/A
Market Cap
$121.03 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/205153395/delayed
US : U.S.: OTC
$ 0.30
+0.04 +16.80%
Volume: 0.00
Jan. 24, 2020 3:35p
P/E Ratio
13.29
Dividend Yield
N/A
Market Cap
$83.48 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/206014407/delayed
AU : Australia: Sydney
$ 1.89
+0.07 +3.56%
Volume: 13.73M
Feb. 17, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$6.22 billion
Rev. per Employee
$1.07M
loading...
/zigman2/quotes/206400018/delayed
US : U.S.: OTC
$ 1.18
-0.01 -0.84%
Volume: 0.00
Feb. 11, 2020 1:56p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.19 billion
Rev. per Employee
$800,887
loading...
/zigman2/quotes/205368244/delayed
HK : Hong Kong
HK$ 5.35
+0.05 +0.94%
Volume: 21.89M
Feb. 17, 2020 4:08p
P/E Ratio
11.76
Dividend Yield
5.25%
Market Cap
HK$63.68 billion
Rev. per Employee
HK$7.25M
loading...
/zigman2/quotes/204000062/delayed
US : U.S.: OTC
$ 13.60
-0.16 -1.15%
Volume: 6,796
Feb. 14, 2020 3:45p
P/E Ratio
11.72
Dividend Yield
4.99%
Market Cap
$8.20 billion
Rev. per Employee
$924,869
loading...
/zigman2/quotes/201795755/delayed
HK : Hong Kong
HK$ 0.73
+0.01 +1.39%
Volume: 12.33M
Feb. 17, 2020 4:08p
P/E Ratio
8.30
Dividend Yield
6.85%
Market Cap
HK$6.07 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
$777.07 million
Rev. per Employee
$731,141
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 416.60
+1.60 +0.39%
Volume: 10.68M
Feb. 17, 2020 4:08p
P/E Ratio
40.61
Dividend Yield
0.24%
Market Cap
HK$3932.81 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/207908563/delayed
US : U.S.: OTC
$ 53.30
-0.22 -0.41%
Volume: 2.51M
Feb. 14, 2020 4:00p
P/E Ratio
40.72
Dividend Yield
0.22%
Market Cap
$506.38 billion
Rev. per Employee
$1.05M
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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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