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Aug. 9, 2018, 3:43 a.m. EDT

Asian stocks closed mostly higher even as drop in oil prices weighed on energy stocks

Chinese markets make gains; Nikkei slips

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By Dow Jones Newswire


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Brent crude prices fell to their lowest level since July 17 on Wednesday.

Asian stocks markets finished predominately higher Thursday, underscored by big rebounds in China’s stock benchmarks, after muted moves in the U.S. and Europe overnight partly on trade-war jitters. Japan’s Nikkei, however, finished the session with a modest loss, hampered by a further uptick for the yen.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0307%  fell to session lows of ¥110.98 versus ¥110.95 in late New York trading, with the Japanese equity gauge lagging its peers amid fresh U.S.-China trade concerns. The Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.34%   closed down 0.2%, with the oil/coal-products sector leading the way lower, skidding down following the overnight slump in oil prices.

Shares of Japan Petroleum /zigman2/quotes/201212147/delayed JP:1662 -3.37%  tumbled by 10%. Japanese skin-care giant Shiseido /zigman2/quotes/207601624/delayed JP:4911 +0.81% , meanwhile, rebounded strongly Thursday, rising 7.8%, after selling off sharply, down 4.4% on Wednesday, following its earnings report, in which it raised its yearly guidance. Shiseido shares have soared 49.5% so far this year.

After starting with modest declines, Chinese stocks staged a potent recovery in the wake of Wednesday’s sizable pullback, highlighting a volatile stretch for Beijing’s stock benchmarks amid tariff spats with the U.S. Perhaps helping sentiment, inflation numbers came in higher than expected last month, a possible sign that demand is holding up. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.34%  finished up 1.8% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.15%   jumped 2.7%. Consumer and cyclical stocks were the top performers, even as oil names confined gains.

Meanwhile, the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.37%   put in a 0.8% gain, logging its fourth straight positive finish. Oil stocks fell though, with PetroChina /zigman2/quotes/204979431/delayed HK:857 -4.20%   and CNOOC /zigman2/quotes/203421416/delayed HK:883 -1.73%   losing 1% and 1.2%, respectively. Property stocks also came under pressure after major lending local banks announced plans to finally raise interest rates — perhaps signalling the end to a decade of low borrowing costs. Shares of Hang Lung Properties /zigman2/quotes/200230831/delayed HK:101 +0.66%  ended the day off 2.3% while those for New World Development /zigman2/quotes/202357413/delayed HK:17 +1.62%   ended flat, according to FactSet data.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.04%   added 0.1%, marking its third consecutive gain, even as auto giant Hyundai /zigman2/quotes/206684590/delayed KR:005380 0.00%  saw its stock finish down by 1.2%. Stocks in Taiwan  wrapped up off 0.4%.

Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.0013%   brushed aside energy losses to end up by 0.5%. Santos shares /zigman2/quotes/207349564/delayed AU:STO -2.22% finished down 2.3%, shares of Woodside Petroleum /zigman2/quotes/203437212/delayed AU:WPL -2.84%  lost 0.4%. New Zealand’s NZX 50 /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.25%   rebounded 0.8% following underperformance the past few days as Ryman Healthcare, /zigman2/quotes/207688158/delayed NZ:RYM 0.00%   a retirement-village operator, jumped 2.8%, touching a record.

/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
114.0380
+0.0350 +0.0307%
Volume: 0.0000
Oct. 22, 2021 3:20a
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/zigman2/quotes/210597971/delayed
JP : Nikkei
28,804.85
+96.27 +0.34%
Volume: 0.00
Oct. 22, 2021 3:15p
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/zigman2/quotes/201212147/delayed
JP : Japan: Tokyo
¥ 2,067.00
-72.00 -3.37%
Volume: 476,900
Oct. 22, 2021 3:00p
P/E Ratio
8.48
Dividend Yield
2.42%
Market Cap
¥122.88 billion
Rev. per Employee
¥134.88M
loading...
/zigman2/quotes/207601624/delayed
JP : Japan: Tokyo
¥ 7,363.00
+59.00 +0.81%
Volume: 1.57M
Oct. 22, 2021 3:00p
P/E Ratio
N/A
Dividend Yield
0.68%
Market Cap
¥2988.89 billion
Rev. per Employee
¥23.59M
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,582.60
-12.18 -0.34%
Volume: 35.32B
Oct. 22, 2021 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,412.67
-3.51 -0.15%
Volume: 38.23B
Oct. 22, 2021 3:00p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,113.50
+95.97 +0.37%
Volume: 1.30M
Oct. 22, 2021 3:05p
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/zigman2/quotes/204979431/delayed
HK : Hong Kong
$ 3.88
-0.17 -4.20%
Volume: 143.85M
Oct. 22, 2021 3:05p
P/E Ratio
6.86
Dividend Yield
6.77%
Market Cap
$1237.68 billion
Rev. per Employee
$4.65M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
$ 8.54
-0.15 -1.73%
Volume: 55.88M
Oct. 22, 2021 3:05p
P/E Ratio
6.73
Dividend Yield
6.44%
Market Cap
$383.97 billion
Rev. per Employee
$9.51M
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/zigman2/quotes/200230831/delayed
HK : Hong Kong
$ 18.42
+0.12 +0.66%
Volume: 1.00M
Oct. 22, 2021 3:04p
P/E Ratio
37.68
Dividend Yield
4.18%
Market Cap
$81.62 billion
Rev. per Employee
$2.04M
loading...
/zigman2/quotes/202357413/delayed
HK : Hong Kong
$ 34.40
+0.55 +1.62%
Volume: 1.51M
Oct. 22, 2021 3:05p
P/E Ratio
74.96
Dividend Yield
5.99%
Market Cap
$84.18 billion
Rev. per Employee
$2.27M
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,006.16
-1.17 -0.04%
Volume: 683,850
Oct. 22, 2021 3:32p
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/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
207,500
0.00 0.00%
Volume: 359,405
Oct. 22, 2021 3:30p
P/E Ratio
14.13
Dividend Yield
1.93%
Market Cap
₩47830.07 billion
Rev. per Employee
₩1.45B
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,415.50
+0.10 +0.0013%
Volume: 638,420
Oct. 22, 2021 5:22p
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/zigman2/quotes/207349564/delayed
AU : Australia: Sydney
$ 7.04
-0.16 -2.22%
Volume: 9.63M
Oct. 22, 2021 4:10p
P/E Ratio
40.51
Dividend Yield
1.99%
Market Cap
$15.11 billion
Rev. per Employee
$1.86M
loading...
/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 23.27
-0.68 -2.84%
Volume: 7.32M
Oct. 22, 2021 4:10p
P/E Ratio
47.67
Dividend Yield
2.42%
Market Cap
$23.73 billion
Rev. per Employee
$1.42M
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
13,093.24
-32.74 -0.25%
Volume: 0.00
Oct. 22, 2021 5:00p
loading...
/zigman2/quotes/207688158/delayed
NZ : New Zealand: NZX
$ 14.81
0.00 0.00%
Volume: 159,910
Oct. 22, 2021 5:00p
P/E Ratio
17.50
Dividend Yield
1.51%
Market Cap
$7.36 billion
Rev. per Employee
$74,166
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