Asia Markets Archives | Email alerts

May 17, 2013, 2:17 a.m. EDT

Asia stocks trade mostly higher as Japan swings up

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
    S&P 500 Index (SPX)
  • X
    Mitsui Fudosan Co. Ltd. (8801)

or Cancel Already have a watchlist? Log In

By Michael Kitchen, MarketWatch

LOS ANGELES (MarketWatch) — Asian stock markets traded mostly higher Friday, with Japanese blue chips swinging to gains in the afternoon session.

The rise for the major markets came as Hong Kong and Seoul were closed for holidays, curbing trading volumes in bourses that were open.


Reuters

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK -3.34%  closed 0.7% higher, undoing losses from the morning session and erasing Thursday’s 0.4% retreat, which had followed a major jump of 2.3% on Wednesday.

Losses for Wall Street overnight had helped dampen sentiment earlier in the day, as the S&P 500 /zigman2/quotes/210599714/realtime SPX -3.35%  finished down 0.5% after a Federal Reserve official tipped a pullback in the central bank’s easing programs could come as soon as this summer.

But offsetting the U.S. loss were domestic data showing Japan’s core machinery orders — seen as a leading indicator of capital investment — jumped 14.2% in March, well above forecasts.

Real-estate shares were a strong spot for the Tokyo market, as some major names rebounded from recent losses. Among them, Mitsui Fudosan Co. /zigman2/quotes/205394574/delayed JP:8801 -3.51%   /zigman2/quotes/208297288/delayed MTSFF +8.74%  climbed 2.4%, Mitsubishi Estate Co. /zigman2/quotes/208910776/delayed JP:8802 -3.78%   /zigman2/quotes/208166463/delayed MITEF -0.08%  added 3.4%, and Sumitomo Realty & Development Co. /zigman2/quotes/206628792/delayed JP:8830 -1.01%   /zigman2/quotes/205763034/delayed SURDF +2.27%  rallied to finish 4.2% higher.

Among individual movers, Tokyo Electric Power Co. /zigman2/quotes/202771076/delayed JP:9501 -1.61%   /zigman2/quotes/204529331/delayed TKECF -1.73% , commonly known as Tepco, chalked up a 2.1% in choppy trade. Tepco shares have now tripled in value since the start of the year, though they remain well below their levels before the 2011 earthquake and tsunami caused a major disaster at the company’s Fukushima Daiichi nuclear power plant.

Also ending higher, Hitachi Ltd. /zigman2/quotes/203839937/delayed JP:6501 -3.78%   /zigman2/quotes/203416411/delayed HTHIF +2.28%  added 3.2% to its share price after the conglomerate forecast earnings for the 2015-16 fiscal year that bested analyst expectations.

Shares of Renesas Electronics Corp. /zigman2/quotes/203872935/delayed JP:6723 -4.66%   /zigman2/quotes/201351352/delayed RNECY -5.83%  surged 15.9%. Late Thursday, Renesas said it was teaming with a Belgian research institute to develop communication technology featuring ultralow power consumption, according to Kyodo News.

On the downside in Japan, Sony Corp. /zigman2/quotes/201361720/delayed JP:6758 -2.81%   /zigman2/quotes/208567357/composite SNE -3.05%  dropped 1.7% after NPD Group data late Thursday showed April U.S. videogame-console sales plunging 42% from year-earlier levels as consumers awaited new devices from Sony and rivals Microsoft Corp. /zigman2/quotes/207732364/composite MSFT -4.31%  and Nintendo Co.   /zigman2/quotes/206371241/delayed NTDOF -3.42% . Shares of Nintendo finished 1.5% lower.

Some other tech majors saw weakness as well, with Pioneer Corp.   falling 0.8%, Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 -4.81%  losing 0.7%, and Tokyo Electron Ltd. /zigman2/quotes/202883609/delayed JP:8035 -2.25%   /zigman2/quotes/200298228/delayed TOELF +0.48%  surrendering 2.5%, moving back near levels seen at the start of the week.

Click to Play

Japan GDP growth offers boost for Abenomics

Japan Prime Minister Shinzo Abe’s stimulus is succeeding in boosting growth, but Tokyo must do more to make that growth lasts.

Shanghai, Sydney improve

On the Shanghai Stock Exchange, shares broke from rangebound trade in the afternoon, with the Shanghai Composite Index /zigman2/quotes/206600939/delayed CN:000001 -1.25%  higher by 1.2% late in the session after spending much of the day near the flat line.

Strength in the property majors helped support the market, with Poly Real Estate Group Co. /zigman2/quotes/201864015/delayed CN:600048 +1.13%  trading 2.7% higher and Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 +1.64%  up 3.4% in late-session action. Similarly, top mainland Chinese developer China Vanke Co.  also saw its shares gain 2.4% on the Shenzhen Stock Exchange.

The advance for real-estate came ahead of April home-price data, due out Saturday. Noting March’s 3.6% gain in home prices for the 70 top cities surveyed in the data, ING analysts said: “We think increased monetary accommodation in the beginning of the year ... kept home price inflation elevated.”

Also positive for the sector, some investors are expecting the Chinese government to loosen some of its restrictions on property sales by the end of the year, Dow Jones Newswires quoted a Guotai Junan Securities as saying.

Over in Australia, the benchmark S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.60%  ended 0.4% higher, helped by strength in some major mining names.

Senior miners BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP -2.05%   /zigman2/quotes/208108397/composite BHP -5.04%  and Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -1.74%   /zigman2/quotes/202627887/composite RIO -6.21%  added 1.9% and 1.1%, respectively, after a 0.9% advance for July copper futures overnight.

Uranium extractor Paladin Energy Ltd. /zigman2/quotes/203269866/delayed AU:PDN -2.35%   /zigman2/quotes/202157125/delayed PALAF -14.29%  rose 4.4%, while Fortescue Metals Group Ltd. /zigman2/quotes/202351558/delayed AU:FMG -0.64%   /zigman2/quotes/204116626/delayed FSUMF -3.98%  added 1.7%, though losses for gold futures helped drive shares of Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM -3.58%   /zigman2/quotes/206026738/delayed NCMGF -1.14%  to close 2.3% lower.

“If commodity prices remain supported in the Asian trading session, Australian stocks should hold near current levels and halt recent weaknesses,” wrote Rivkin global analyst Tim Radford just ahead of the market open. The ASX 200 had ended Thursday with a 0.5% loss, after falling 0.6% on Wednesday.

Also in Sydney, shares of Virgin Australia Holdings Ltd. /zigman2/quotes/207744791/delayed AU:VAH -7.69%   /zigman2/quotes/207088423/delayed VBHLF 0.00%  jumped 10.5% higher after a 17% crash in the previous session on the back of a profit warning. Helping boost the airline operator, both UBS and J.P. Morgan raised their ratings on the shares to buy and overweight, respectively.

However, a profit warning at energy firm WorleyParsons Ltd. /zigman2/quotes/210274429/delayed AU:WOR -1.73%   /zigman2/quotes/203838000/delayed WYGPF -3.11%  sent that stock falling 12.5%.

Likewise, retail major Wesfarmers Ltd. /zigman2/quotes/204567133/delayed AU:WES -3.58%   /zigman2/quotes/201137979/delayed WFAFF +0.67%   warned of “disappointing” results at its Target stores, with its shares losing 2.9%. Target Australia is unrelated to the U.S. firm Target Corp., though it uses the latter’s “bullseye” logo.

Meanwhile, some of the smaller Asian markets missed out on the gains seen in Japan, China and Australia, with Taiwan’s Taiex  ending with a 0.3% loss, and New Zealand’s NZSX 50 falling 0.8%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,605.41
-781.33 -3.34%
Volume: 0.00
Feb. 25, 2020 3:15p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,225.89
-111.86 -3.35%
Volume: 2.75B
Feb. 24, 2020 5:04p
loading...
/zigman2/quotes/205394574/delayed
JP : Japan: Tokyo
¥ 2,821.50
-102.50 -3.51%
Volume: 4.64M
Feb. 25, 2020 3:00p
P/E Ratio
16.40
Dividend Yield
1.56%
Market Cap
¥2854.00 billion
Rev. per Employee
¥101.67M
loading...
/zigman2/quotes/208297288/delayed
US : U.S.: OTC
$ 26.75
+2.15 +8.74%
Volume: 0.00
Feb. 19, 2020 5:20p
P/E Ratio
16.98
Dividend Yield
N/A
Market Cap
$26.11 billion
Rev. per Employee
$923,573
loading...
/zigman2/quotes/208910776/delayed
JP : Japan: Tokyo
¥ 2,088.00
-82.00 -3.78%
Volume: 6.69M
Feb. 25, 2020 3:00p
P/E Ratio
23.11
Dividend Yield
1.48%
Market Cap
¥2938.11 billion
Rev. per Employee
¥144.30M
loading...
/zigman2/quotes/208166463/delayed
US : U.S.: OTC
$ 18.63
-0.01 -0.08%
Volume: 0.00
Dec. 19, 2019 5:19p
P/E Ratio
22.50
Dividend Yield
N/A
Market Cap
$25.29 billion
Rev. per Employee
$1.31M
loading...
/zigman2/quotes/206628792/delayed
JP : Japan: Tokyo
¥ 3,813.00
-39.00 -1.01%
Volume: 3.08M
Feb. 25, 2020 3:00p
P/E Ratio
12.49
Dividend Yield
0.92%
Market Cap
¥1825.62 billion
Rev. per Employee
¥77.54M
loading...
/zigman2/quotes/205763034/delayed
US : U.S.: OTC
$ 37.45
+0.83 +2.27%
Volume: 3.00
Feb. 24, 2020 5:20p
P/E Ratio
13.38
Dividend Yield
N/A
Market Cap
$15.72 billion
Rev. per Employee
$703,254
loading...
/zigman2/quotes/202771076/delayed
JP : Japan: Tokyo
¥ 428.00
-7.00 -1.61%
Volume: 11.03M
Feb. 25, 2020 3:00p
P/E Ratio
3.73
Dividend Yield
N/A
Market Cap
¥696.97 billion
Rev. per Employee
¥149.25M
loading...
/zigman2/quotes/204529331/delayed
US : U.S.: OTC
$ 3.87
-0.07 -1.73%
Volume: 0.00
Feb. 24, 2020 3:54p
P/E Ratio
3.69
Dividend Yield
N/A
Market Cap
$6.20 billion
Rev. per Employee
$1.35M
loading...
/zigman2/quotes/203839937/delayed
JP : Japan: Tokyo
¥ 4,020.00
-158.00 -3.78%
Volume: 5.16M
Feb. 25, 2020 3:00p
P/E Ratio
19.94
Dividend Yield
2.24%
Market Cap
¥4036.94 billion
Rev. per Employee
¥30.84M
loading...
/zigman2/quotes/203416411/delayed
US : U.S.: OTC
$ 38.87
+0.87 +2.28%
Volume: 340.00
Feb. 24, 2020 5:20p
P/E Ratio
21.20
Dividend Yield
N/A
Market Cap
$34.75 billion
Rev. per Employee
$279,568
loading...
/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 736.00
-36.00 -4.66%
Volume: 11.15M
Feb. 25, 2020 3:00p
P/E Ratio
576.71
Dividend Yield
N/A
Market Cap
¥1320.35 billion
Rev. per Employee
¥36.92M
loading...
/zigman2/quotes/201351352/delayed
US : U.S.: OTC
$ 3.23
-0.20 -5.83%
Volume: 11,315
Feb. 24, 2020 3:42p
P/E Ratio
529.51
Dividend Yield
N/A
Market Cap
$11.93 billion
Rev. per Employee
$334,299
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,269.00
-210.00 -2.81%
Volume: 8.51M
Feb. 25, 2020 3:00p
P/E Ratio
14.01
Dividend Yield
0.62%
Market Cap
¥9172.90 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 63.93
-2.01 -3.05%
Volume: 1.41M
Feb. 24, 2020 6:30p
P/E Ratio
13.40
Dividend Yield
0.42%
Market Cap
$78.40 billion
Rev. per Employee
$654,652
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 170.89
-7.70 -4.31%
Volume: 68.31M
Feb. 24, 2020 4:00p
P/E Ratio
29.75
Dividend Yield
1.19%
Market Cap
$1299.80 billion
Rev. per Employee
$902,473
loading...
/zigman2/quotes/206371241/delayed
US : U.S.: OTC
$ 342.87
-12.13 -3.42%
Volume: 300.00
Feb. 24, 2020 1:57p
P/E Ratio
20.05
Dividend Yield
N/A
Market Cap
$40.84 billion
Rev. per Employee
$1.95M
loading...
/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 1,137.50
-57.50 -4.81%
Volume: 12.61M
Feb. 25, 2020 3:00p
P/E Ratio
9.20
Dividend Yield
2.64%
Market Cap
¥2787.77 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/202883609/delayed
JP : Japan: Tokyo
¥ 24,285.00
-560.00 -2.25%
Volume: 1.43M
Feb. 25, 2020 3:00p
P/E Ratio
20.41
Dividend Yield
2.22%
Market Cap
¥3863.41 billion
Rev. per Employee
¥110.09M
loading...
/zigman2/quotes/200298228/delayed
US : U.S.: OTC
$ 226.00
+1.09 +0.48%
Volume: 2,400
Feb. 21, 2020 5:20p
P/E Ratio
20.71
Dividend Yield
N/A
Market Cap
$33.28 billion
Rev. per Employee
$997,844
loading...
/zigman2/quotes/206600939/delayed
CN : China: Shenzhen
¥ 15.04
-0.19 -1.25%
Volume: 114.46M
Feb. 25, 2020 3:00p
P/E Ratio
10.75
Dividend Yield
1.45%
Market Cap
¥295.55 billion
Rev. per Employee
¥6.12M
loading...
/zigman2/quotes/201864015/delayed
CN : China: Shanghai
¥ 15.26
+0.17 +1.13%
Volume: 95.77M
Feb. 25, 2020 3:00p
P/E Ratio
8.20
Dividend Yield
3.28%
Market Cap
¥180.06 billion
Rev. per Employee
¥3.42M
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 13.61
+0.22 +1.64%
Volume: 33.47M
Feb. 25, 2020 3:00p
P/E Ratio
7.42
Dividend Yield
4.41%
Market Cap
¥60.45 billion
Rev. per Employee
¥7.89M
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,866.60
-111.70 -1.60%
Volume: 1.04M
Feb. 25, 2020 5:32p
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 36.33
-0.76 -2.05%
Volume: 8.33M
Feb. 25, 2020 4:10p
P/E Ratio
13.59
Dividend Yield
5.97%
Market Cap
$187.55 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 47.87
-2.54 -5.04%
Volume: 3.64M
Feb. 24, 2020 6:30p
P/E Ratio
12.87
Dividend Yield
5.97%
Market Cap
$70.48 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 93.60
-1.66 -1.74%
Volume: 1.78M
Feb. 25, 2020 4:10p
P/E Ratio
8.53
Dividend Yield
9.59%
Market Cap
$154.74 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 51.23
-3.39 -6.21%
Volume: 2.85M
Feb. 24, 2020 6:30p
P/E Ratio
6.51
Dividend Yield
6.46%
Market Cap
$64.53 billion
Rev. per Employee
$852,406
loading...
/zigman2/quotes/203269866/delayed
AU : Australia: Sydney
$ 0.08
-0.0020 -2.35%
Volume: 2.23M
Feb. 25, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$172.37 million
Rev. per Employee
$463,060
loading...
/zigman2/quotes/202157125/delayed
US : U.S.: OTC
$ 0.06
-0.01 -14.29%
Volume: 1.35M
Feb. 24, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$121.67 million
Rev. per Employee
$348,576
loading...
/zigman2/quotes/202351558/delayed
AU : Australia: Sydney
$ 10.93
-0.07 -0.64%
Volume: 18.24M
Feb. 25, 2020 4:10p
P/E Ratio
4.70
Dividend Yield
9.15%
Market Cap
$33.86 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204116626/delayed
US : U.S.: OTC
$ 7.00
-0.29 -3.98%
Volume: 10,130
Feb. 24, 2020 2:08p
P/E Ratio
4.33
Dividend Yield
N/A
Market Cap
$21.54 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203840223/delayed
AU : Australia: Sydney
$ 29.09
-1.08 -3.58%
Volume: 5.12M
Feb. 25, 2020 4:10p
P/E Ratio
27.93
Dividend Yield
1.15%
Market Cap
$23.15 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206026738/delayed
US : U.S.: OTC
$ 19.10
-0.22 -1.14%
Volume: 0.00
Feb. 24, 2020 2:18p
P/E Ratio
26.32
Dividend Yield
N/A
Market Cap
$14.65 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207744791/delayed
AU : Australia: Sydney
$ 0.12
-0.01 -7.69%
Volume: 616,252
Feb. 25, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.10 billion
Rev. per Employee
$561,344
loading...
/zigman2/quotes/207088423/delayed
US : U.S.: OTC
$ 0.09
0.00 0.00%
Volume: 1,500
Feb. 21, 2020 12:55p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$717.56 million
Rev. per Employee
$418,632
loading...
/zigman2/quotes/210274429/delayed
AU : Australia: Sydney
$ 13.61
-0.24 -1.73%
Volume: 2.86M
Feb. 25, 2020 4:10p
P/E Ratio
39.58
Dividend Yield
2.02%
Market Cap
$7.21 billion
Rev. per Employee
$193,893
loading...
/zigman2/quotes/203838000/delayed
US : U.S.: OTC
$ 9.65
-0.31 -3.11%
Volume: 0.00
Feb. 19, 2020 12:20p
P/E Ratio
40.53
Dividend Yield
N/A
Market Cap
$4.72 billion
Rev. per Employee
$144,756
loading...
/zigman2/quotes/204567133/delayed
AU : Australia: Sydney
$ 42.55
-1.58 -3.58%
Volume: 2.73M
Feb. 25, 2020 4:10p
P/E Ratio
23.14
Dividend Yield
3.60%
Market Cap
$50.04 billion
Rev. per Employee
$208,410
loading...
/zigman2/quotes/201137979/delayed
US : U.S.: OTC
$ 30.15
+0.20 +0.67%
Volume: 441.00
Feb. 24, 2020 5:20p
P/E Ratio
23.64
Dividend Yield
N/A
Market Cap
$32.87 billion
Rev. per Employee
$157,570
loading...

Michael Kitchen is Asia editor for MarketWatch and is based in Los Angeles. You can follow him on Twitter at @KitchenNews.

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.