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Jan. 29, 2015, 4:20 a.m. EST

Japanese stocks retreat on earnings, Fed rate-hike concerns

Chinese stocks fall on another round of margin-trade crackdown

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By Laura He, MarketWatch


Reuters
Japanese stocks retreat on Thursday, with most other Asian markets also ending lower.

HONG KONG (MarketWatch) — Japanese stocks fell Thursday, as investors worried about disappointing corporate earnings and as they absorbed signs the U.S. Federal Reserve is sticking to its timing on an increase in interest rates.

The Nikkei Average /zigman2/quotes/210597971/delayed JP:NIK +0.25%  declined 1.1%, marking its biggest daily drop in almost two weeks. The broader Topix /zigman2/quotes/210598092/delayed JP:180460 +0.41%  also fell 1.1%.

The Fed reiterated Wednesday that it will remain patient as it decides when to start raising interest rates, implying that a midyear rate hike is still possible.

The yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1467%  weakened versus the dollar to ¥117.89, compared with ¥117.46 late Wednesday in New York, amid dollar-buying by Japanese importers to settle month-end accounts.

Also weighing on the markets were some disappointing corporate earnings results.

Nintendo Co. /zigman2/quotes/208063194/delayed JP:7974 -0.16%  sank 8.7%, despite reporting a net-profit gain for the April-December period, as the game-console maker cut its operating-profit outlook. Maker of construction and mining equipment Komatsu Ltd. /zigman2/quotes/204002437/delayed JP:6301 +0.08%  slid 8.5%, with its chief executive officer expecting its Chinese sales to remain weak, according to Bloomberg News.

Camera maker Canon Inc. /zigman2/quotes/207639533/delayed JP:7751 +1.92%  lost 5.1%, with analysts and reports saying its quarterly profit increase was mostly helped by a weaker yen. Skymark Airlines Inc.  plunged 25.2%, after the discount carrier filed for bankruptcy protection.

Elsewhere, Chinese stocks also headed lower, after its securities regulator announced Wednesday night that it soon would launch a second round of its crackdown on margin-trading practices.

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.05%  declined 1.3%, and the Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.12%  dropped 1.1%.

In other markets, South Korea’s Kospi Composite Index /zigman2/quotes/210598069/delayed KR:180721 +0.20%  ended 0.5% lower, while Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.04%   finished 0.3% higher.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,548.90
+56.22 +0.25%
Volume: 0.00
Oct. 21, 2019 3:15p
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/zigman2/quotes/210598092/delayed
JP : Tokyo Exchange (TOPIX)
1,628.60
+6.61 +0.41%
Volume: 0.00
Oct. 21, 2019 3:00p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullet Prebon
108.5660
+0.1590 +0.1467%
Volume: 0.0000
Oct. 21, 2019 3:59a
loading...
/zigman2/quotes/208063194/delayed
JP : Japan: Tokyo
¥ 38,550.00
-60.00 -0.16%
Volume: 808,000
Oct. 21, 2019 3:00p
P/E Ratio
25.70
Dividend Yield
1.97%
Market Cap
¥4599.40 billion
Rev. per Employee
¥217.41M
loading...
/zigman2/quotes/204002437/delayed
JP : Japan: Tokyo
¥ 2,490.00
+2.00 +0.08%
Volume: 2.58M
Oct. 21, 2019 3:00p
P/E Ratio
9.76
Dividend Yield
4.42%
Market Cap
¥2349.41 billion
Rev. per Employee
¥45.51M
loading...
/zigman2/quotes/207639533/delayed
JP : Japan: Tokyo
¥ 2,914.00
+55.00 +1.92%
Volume: 3.11M
Oct. 21, 2019 3:00p
P/E Ratio
17.10
Dividend Yield
5.49%
Market Cap
¥3041.50 billion
Rev. per Employee
¥19.98M
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,939.62
+1.48 +0.05%
Volume: 13.25B
Oct. 21, 2019 3:01p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,752.10
+32.52 +0.12%
Volume: 846,136
Oct. 21, 2019 3:44p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,064.84
+4.15 +0.20%
Volume: 600,282
Oct. 21, 2019 3:30p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,652.50
+2.80 +0.04%
Volume: 506,428
Oct. 21, 2019 5:26p
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Laura He is a MarketWatch reporter based in Hong Kong. Follow Laura on Twitter at: @lauraliuhe.

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