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Aug. 8, 2013, 4:24 a.m. EDT

Australia, Hong Kong stocks rebound; Japan slides

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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Stocks in Australia and Hong Kong rebounded Thursday from the previous day’s sharp losses, aided by strong monthly trade data from China and some upbeat earnings reports. Japanese shares tumbled in volatile trade amidst a strengthening yen.

Australia’s /zigman2/quotes/210598100/delayed AU:XJO -0.49%  extended early gains to finish 1.1% higher and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.12%  climbed 0.3% after data from China showed both its exports and imports climbed more than expected in July, recovering from the weakness seen in June.

China’s Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -1.07%  slipped 0.1% after a choppy trading session.

“Together with the rebounding official Purchasing Managers’ Index ... July trade data are supportive of a better economic outlook for China and will surely help boost market confidence,” said Ting Lu, a China economist at Bank of America Merrill Lynch.

Japan’s Nikkei Stock Average /zigman2/quotes/210597971/delayed JP:NIK +0.17% ended 1.6% lower, adding to its 4% plunge Wednesday.


Reuters Enlarge Image
Stocks in Tokyo lead rebound in Asian markets after suffering big losses the previous day, as investors await the Bank of Japan meeting outcome.

The losses came as the U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.2263%  fell further to slide toward ¥96. Earlier in the day, the Bank of Japan left its policies unchanged, as expected, while saying the domestic economy was “starting to recover moderately.”

The day’s performance in Asia followed a third straight day of losses on Wall Street, amid uncertainty over the timing of the Federal Reserve’s widely expected reduction in monthly bond purchases.

“Markets have moved into a ‘sell on the rumor, buy on the fact’ mode in the wake of the end of the U.S. [earnings reporting] season and rising concerns about U.S. Fed’s tapering,” said Perpetual head of investment research Matthew Sherwood.

U.S. equity futures edged higher during Asian stock trade, with those on the Dow Jones Industrial Average  and the Standard & Poor’s 500 adding 0.2% each.

Among stocks losing ground in Tokyo, Hino Motors Ltd. /zigman2/quotes/209422954/delayed JP:7205 +1.09%   /zigman2/quotes/207652388/delayed HINOY +13.07%  and Tokyo Electric Power Co. /zigman2/quotes/202771076/delayed JP:9501 +2.58% /zigman2/quotes/205839055/delayed TKECY +0.54%  slumped 5% each, Panasonic Corp. /zigman2/quotes/201785256/delayed JP:6752 +1.34%   /zigman2/quotes/202333059/delayed PCRFY +2.71%  lost 3.3% and Tokyu Land Corp.   shed 4.6%.

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In Sydney, meanwhile, shares of Telstra /zigman2/quotes/201936124/delayed AU:TLS +0.15% /zigman2/quotes/202275272/delayed TTRAF -0.35%  rose 2.4% after the telecommunications major posted a forecast-beating 12% increase in annual profit.

Shares of mining giant Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO -1.25% /zigman2/quotes/202627887/composite RIO -0.42% tacked on 1.5% before the release of its own financial results.

Over in Hong Kong, shares of banking heavyweight HSBC Holdings PLC /zigman2/quotes/202687335/delayed HK:5 +3.52%  rose 0.2% and China Coal Energy Co. /zigman2/quotes/201486584/delayed HK:1898 0.00% /zigman2/quotes/205321671/delayed CCOZY 0.00%  gained 2.5%, while footwear major Belle International Holdings Ltd.   climbed 3.3%.

In Shanghai, several financial and property stocks drifted lower amid lingering economic worries.

Shares of Citic Securities Co. /zigman2/quotes/210326178/delayed CN:600030 -0.61%   /zigman2/quotes/207216844/delayed CIIHF +1.69% dropped 1% and Southwest Securities Co. /zigman2/quotes/201082446/delayed CN:600369 0.00%  fell 1.9%, while Gemdale Corp. /zigman2/quotes/208026094/delayed CN:600383 +3.53%  lost 1.8%.

Elsewhere, South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.12%  added 0.3% after the Bank of Korea left its policy interest rate unchanged, as widely expected.

In Seoul, KB Financial Group Inc. /zigman2/quotes/208188987/delayed KR:105560 +2.06%   /zigman2/quotes/200043823/composite KB +3.69% rose 1.4%, and Shinhan Financial Group Co. /zigman2/quotes/202889287/delayed KR:055550 +0.46% /zigman2/quotes/208869909/composite SHG +5.34%  added 0.4%.

/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,108.70
-30.00 -0.49%
Volume: 337,119
Aug. 12, 2020 12:38p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,859.61
-31.07 -0.12%
Volume: 467,903
Aug. 12, 2020 10:44a
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,304.41
-35.88 -1.07%
Volume: 19.85B
Aug. 12, 2020 10:43a
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/zigman2/quotes/210597971/delayed
JP : Nikkei
22,789.15
+38.91 +0.17%
Volume: 0.00
Aug. 12, 2020 11:30a
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
106.7340
+0.2410 +0.2263%
Volume: 0.0000
Aug. 11, 2020 10:59p
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/zigman2/quotes/209422954/delayed
JP : Japan: Tokyo
¥ 741.00
+8.00 +1.09%
Volume: 1.27M
Aug. 12, 2020 11:30a
P/E Ratio
25.30
Dividend Yield
0.00%
Market Cap
¥390.34 billion
Rev. per Employee
¥60.20M
loading...
/zigman2/quotes/207652388/delayed
US : U.S.: OTC
$ 70.00
+8.09 +13.07%
Volume: 14.00
Aug. 11, 2020 5:19p
P/E Ratio
25.89
Dividend Yield
2.08%
Market Cap
$3.58 billion
Rev. per Employee
$545,250
loading...
/zigman2/quotes/202771076/delayed
JP : Japan: Tokyo
¥ 318.00
+8.00 +2.58%
Volume: 6.70M
Aug. 12, 2020 11:30a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
¥485.47 billion
Rev. per Employee
¥149.25M
loading...
/zigman2/quotes/205839055/delayed
US : U.S.: OTC
$ 2.83
+0.02 +0.54%
Volume: 813.00
Aug. 10, 2020 3:06p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.59 billion
Rev. per Employee
$1.35M
loading...
/zigman2/quotes/201785256/delayed
JP : Japan: Tokyo
¥ 946.60
+12.50 +1.34%
Volume: 2.77M
Aug. 12, 2020 11:30a
P/E Ratio
13.30
Dividend Yield
3.17%
Market Cap
¥2079.38 billion
Rev. per Employee
¥29.74M
loading...
/zigman2/quotes/202333059/delayed
US : U.S.: OTC
$ 8.78
+0.23 +2.71%
Volume: 173,887
Aug. 11, 2020 3:55p
P/E Ratio
13.38
Dividend Yield
2.61%
Market Cap
$19.66 billion
Rev. per Employee
$269,385
loading...
/zigman2/quotes/201936124/delayed
AU : Australia: Sydney
$ 3.41
+0.0050 +0.15%
Volume: 10.00M
Aug. 12, 2020 12:38p
P/E Ratio
19.67
Dividend Yield
3.82%
Market Cap
$40.28 billion
Rev. per Employee
$774,100
loading...
/zigman2/quotes/202275272/delayed
US : U.S.: OTC
$ 2.43
-0.0085 -0.35%
Volume: 2,800
Aug. 11, 2020 9:44a
P/E Ratio
20.23
Dividend Yield
N/A
Market Cap
$29.16 billion
Rev. per Employee
$579,274
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 101.51
-1.28 -1.25%
Volume: 593,864
Aug. 12, 2020 12:38p
P/E Ratio
15.46
Dividend Yield
5.58%
Market Cap
$144.65 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 61.35
-0.26 -0.42%
Volume: 2.06M
Aug. 11, 2020 4:00p
P/E Ratio
13.88
Dividend Yield
6.29%
Market Cap
$103.54 billion
Rev. per Employee
$852,406
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/zigman2/quotes/202687335/delayed
HK : Hong Kong
HK$ 35.30
+1.20 +3.52%
Volume: 31.27M
Aug. 12, 2020 10:44a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
HK$683.84 billion
Rev. per Employee
HK$2.88M
loading...
/zigman2/quotes/201486584/delayed
HK : Hong Kong
HK$ 1.92
0.00 0.00%
Volume: 1.96M
Aug. 12, 2020 10:43a
P/E Ratio
3.60
Dividend Yield
7.25%
Market Cap
HK$49.65 billion
Rev. per Employee
HK$2.78M
loading...
/zigman2/quotes/205321671/delayed
US : U.S.: OTC
$ 4.56
0.00 0.00%
Volume: 0.00
June 22, 2020 5:19p
P/E Ratio
3.69
Dividend Yield
6.29%
Market Cap
$6.00 billion
Rev. per Employee
$354,816
loading...
/zigman2/quotes/210326178/delayed
CN : China: Shanghai
¥ 31.12
-0.19 -0.61%
Volume: 107.25M
Aug. 12, 2020 10:43a
P/E Ratio
31.83
Dividend Yield
1.61%
Market Cap
¥392.36 billion
Rev. per Employee
¥2.96M
loading...
/zigman2/quotes/207216844/delayed
US : U.S.: OTC
$ 1.81
+0.03 +1.69%
Volume: 0.00
July 14, 2020 5:20p
P/E Ratio
12.91
Dividend Yield
N/A
Market Cap
$38.17 billion
Rev. per Employee
$448,078
loading...
/zigman2/quotes/201082446/delayed
CN : China: Shanghai
¥ 5.50
0.00 0.00%
Volume: 17.00M
Aug. 12, 2020 10:43a
P/E Ratio
37.34
Dividend Yield
1.45%
Market Cap
¥37.88 billion
Rev. per Employee
¥800,277
loading...
/zigman2/quotes/208026094/delayed
CN : China: Shanghai
¥ 15.25
+0.52 +3.53%
Volume: 38.37M
Aug. 12, 2020 10:43a
P/E Ratio
6.98
Dividend Yield
4.39%
Market Cap
¥65.64 billion
Rev. per Employee
¥7.89M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,415.65
-3.02 -0.12%
Volume: 430,453
Aug. 12, 2020 11:39a
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/zigman2/quotes/208188987/delayed
KR : S. Korea: KRX
39,600.00
+800.00 +2.06%
Volume: 3.46M
Aug. 12, 2020 11:38a
P/E Ratio
4.88
Dividend Yield
5.58%
Market Cap
₩14474.92 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200043823/composite
US : U.S.: NYSE
$ 32.89
+1.17 +3.69%
Volume: 473,548
Aug. 11, 2020 4:00p
P/E Ratio
4.79
Dividend Yield
4.45%
Market Cap
$12.21 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202889287/delayed
KR : S. Korea: KRX
33,000.00
+150.00 +0.46%
Volume: 3.39M
Aug. 12, 2020 11:38a
P/E Ratio
N/A
Dividend Yield
5.61%
Market Cap
₩15266.89 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208869909/composite
US : U.S.: NYSE
$ 28.02
+1.42 +5.34%
Volume: 348,609
Aug. 11, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
4.13%
Market Cap
$12.88 billion
Rev. per Employee
N/A
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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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