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Sept. 16, 2014, 5:47 a.m. EDT

Japan stocks snap winning streak ahead of Fed meeting

Hong Kong extends losing streak to eight

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By Laura He, MarketWatch


Reuters

HONG KONG (MarketWatch) — Japan stocks slipped Tuesday, snapping a five-session winning streak, as investors remained cautious ahead of the two-day Federal Reserve policy meeting.

Policy makers at the Federal Open Market Committee were scheduled to kick off the September meeting on Tuesday and release the policy statement and economic projections at 2 p.m. on Wednesday.

The Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK -1.06%  edged down 0.2%, with the yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.2668%  moving flat at ¥107.13, compared with ¥107.10 a day earlier. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 -1.42%  also dipped 0.2%.

Tech names were mixed, with Internet and telecoms conglomerate SoftBank Corp. /zigman2/quotes/207303954/delayed JP:9984 -0.38%  rallying 3.5%. The gains came after Chinese e-commerce giant Alibaba Group, in which SoftBank owns a more than 30% stake, said it raised the price range for its upcoming U.S. IPO to $66 to $68 a share because of strong demand from investors.

Other market movers included IT service provider Fujitsu Ltd. /zigman2/quotes/208459594/delayed JP:6702 -1.29% , advancing 1.9%, console maker Nintendo Co., Ltd. , rising 1.5%, while semiconductor firm Renesas Electronic Corp. /zigman2/quotes/203872935/delayed JP:6723 -0.17% declined 2.1%, and electronics giant NEC Corp. /zigman2/quotes/205173342/delayed JP:6701 -0.54%  fell 1.1%.

In Hong Kong, the morning session for markets was canceled due to rough weather caused by Typhoon Kalmaegi. The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.84%  moved significantly lower after trading resumed in the afternoon and closed down 0.9%, extending its losing streak to eight.

China’s largest wireless carrier China Mobile Ltd. /zigman2/quotes/200868736/delayed HK:941 -2.66%  tumbled 3.8% at the close, after reports said the release date for iPhone 6 in mainland China is still uncertain, possibly due to a delay in the issuance of a network access license by Chinese regulators. Its smaller rivals suffered even more, with China Telecom Corp. Ltd. /zigman2/quotes/206668971/delayed HK:728 -1.69%  sliding 4.9%, and China Unicom (Hong Kong) Ltd. /zigman2/quotes/205091392/delayed HK:762 -3.56%  falling 4.5%.

Over on the Chinese mainland, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -1.95%  dropped 1.8%.

On the data front, China’s foreign direct investment fell in August to its lowest level in more than four years.

Meanwhile, Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.61%  ended down 0.5%, while Seoul’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 -0.81%  rose 0.4%.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,290.81
-238.48 -1.06%
Volume: 0.00
July 10, 2020 3:15p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
106.9180
-0.2860 -0.2668%
Volume: 0.0000
July 10, 2020 4:59p
loading...
/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,535.20
-22.04 -1.42%
Volume: 0.00
July 10, 2020 3:00p
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,267.00
-24.00 -0.38%
Volume: 30.11M
July 10, 2020 3:00p
P/E Ratio
42.05
Dividend Yield
0.70%
Market Cap
¥13009.76 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/208459594/delayed
JP : Japan: Tokyo
¥ 12,960.00
-170.00 -1.29%
Volume: 616,800
July 10, 2020 3:00p
P/E Ratio
16.39
Dividend Yield
1.39%
Market Cap
¥2629.25 billion
Rev. per Employee
¥28.38M
loading...
/zigman2/quotes/203872935/delayed
JP : Japan: Tokyo
¥ 592.00
-1.00 -0.17%
Volume: 7.89M
July 10, 2020 3:00p
P/E Ratio
66.97
Dividend Yield
N/A
Market Cap
¥1016.86 billion
Rev. per Employee
¥36.92M
loading...
/zigman2/quotes/205173342/delayed
JP : Japan: Tokyo
¥ 5,550.00
-30.00 -0.54%
Volume: 1.64M
July 10, 2020 3:00p
P/E Ratio
14.23
Dividend Yield
1.44%
Market Cap
¥1448.50 billion
Rev. per Employee
¥26.58M
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
25,727.41
-482.75 -1.84%
Volume: 2.14M
July 10, 2020 4:08p
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 54.90
-1.50 -2.66%
Volume: 17.99M
July 10, 2020 4:08p
P/E Ratio
9.33
Dividend Yield
5.92%
Market Cap
HK$1154.82 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/206668971/delayed
HK : Hong Kong
HK$ 2.32
-0.04 -1.69%
Volume: 64.85M
July 10, 2020 4:08p
P/E Ratio
8.01
Dividend Yield
5.39%
Market Cap
HK$191.00 billion
Rev. per Employee
HK$1.57M
loading...
/zigman2/quotes/205091392/delayed
HK : Hong Kong
HK$ 4.61
-0.17 -3.56%
Volume: 56.26M
July 10, 2020 4:08p
P/E Ratio
10.93
Dividend Yield
3.51%
Market Cap
HK$146.26 billion
Rev. per Employee
HK$1.29M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,383.32
-67.27 -1.95%
Volume: 55.61B
July 10, 2020 3:01p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,919.20
-36.30 -0.61%
Volume: 565,369
July 10, 2020 5:10p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,150.25
-17.65 -0.81%
Volume: 886,987
July 10, 2020 3:32p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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