Asian markets retreat ahead of Fed announcement

By Marketwatch and Associated Press

AFP/Getty Images

Commuters make their way through the Shibuya crossing in central Tokyo on Tuesday.

Asian markets fell in early trading Wednesday, following new doubts about a U.S.-China trade deal and ahead of an expected interest-rate cut by the U.S. Federal Reserve.

While U.S. officials, including President Donald Trump, in recent days had touted progress in trade talks, Reuters reported Tuesday that a “phase one” deal might not be ready to be signed at the Asia-Pacific Economic Cooperation summit in Chile next month. “Our goal is to sign it in Chile. But sometimes texts aren’t ready,” a U.S. official told Reuters.

Separately, China accused the U.S. of “bullying” over a proposed ban on Chinese telecom equipment in U.S. networks, and China’s ambassador to the United Nations suggested that U.S. criticism over human rights could impact trade talks.

Meanwhile, investors are awaiting the conclusion of the Fed’s two-day meeting, with many expecting the third rate cut of the year but uncertain if the central bank will signal further monetary easing in the future.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.85%   fell 0.4% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.25%   slipped 0.3%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.49%   edged down 0.4 while the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.15%   slid 0.8%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.18%   declined 0.4%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -1.12%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.22%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.29%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.70%   mostly rose slightly. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.26%   fell 0.5%.

Among individual stocks, electronics company NEC /zigman2/quotes/205173342/delayed JP:6701 -1.45%   slid in Tokyo trading, along with SoftBank /zigman2/quotes/207303954/delayed JP:9984 -1.47%   and Uniqlo parent Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 -0.82%  . In Hong Kong, Apple component maker AAC /zigman2/quotes/201441510/delayed HK:2018 +0.25%   fell, along with PetroChina /zigman2/quotes/204979431/delayed HK:857 +2.00%  . Chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +1.57%   retreated in South Korea while BHP /zigman2/quotes/201448516/delayed AU:BHP +1.17%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +2.12%   fell in Australia.

/zigman2/quotes/210597971/delayed

Add to watchlist JP:NIK

NIKKEI 225 Index

JP : Nikkei

31,641.27

-272.47 -0.85%

Volume: 0.00

June 8, 2023 3:15p

/zigman2/quotes/210598030/delayed

Add to watchlist HK:HSI

Hang Seng Index

HK : Hong Kong Exchange

19,299.18

+47.18 +0.25%

Volume: 2.21M

June 8, 2023 4:08p

/zigman2/quotes/210598127/delayed

Add to watchlist CN:SHCOMP

Shanghai Composite Index

CN : China: Shanghai

3,213.59

+15.83 +0.49%

Volume: 29.35B

June 8, 2023 3:00p

/zigman2/quotes/210598015/delayed

Add to watchlist CN:399106

Shenzhen Composite Index

CN : Shenhzen Stock Exchange

1,992.33

-2.95 -0.15%

Volume: 36.96B

June 8, 2023 3:00p

/zigman2/quotes/210598069/delayed

Add to watchlist KR:180721

KOSPI Composite Index

KR : Korea Exchange

2,610.85

-4.75 -0.18%

Volume: 581,325

June 8, 2023 6:05p

/zigman2/quotes/210597977/delayed

Add to watchlist TW:Y9999

Taiwan TAIEX

TW : Taiwan Stock Exchange

16,733.69

-188.79 -1.12%

Volume: 0.00

June 8, 2023 1:33p

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Add to watchlist SG:STI

FTSE Straits Times Index

SG : Singapore: SGX

3,186.61

+7.03 +0.22%

Volume: 0.00

June 8, 2023 5:20p

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Add to watchlist MY:FBMKLCI

FTSE Bursa Malaysia KLCI

MY : Malaysia

1,374.64

-4.01 -0.29%

Volume: 0.00

June 8, 2023 5:05p

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Add to watchlist ID:JAKIDX

JSX Composite Index

ID : Indonesia Stock Exchange

6,666.33

+46.58 +0.70%

Volume: 0.00

June 8, 2023 4:00p

/zigman2/quotes/210598100/delayed

Add to watchlist AU:XJO

S&P/ASX 200 Benchmark Index

AU : S&P ASX

7,099.70

-18.30 -0.26%

Volume: 716,576

June 8, 2023 4:59p

/zigman2/quotes/205173342/delayed

Add to watchlist JP:6701

NEC Corp.

JP : Japan: Tokyo

¥ 6,779.00

-100.00 -1.45%

Volume: 1.67M

June 8, 2023 3:00p

P/E Ratio

15.94

Dividend Yield

1.77%

Market Cap

¥1874.24 billion

Rev. per Employee

¥28.22M

/zigman2/quotes/207303954/delayed

Add to watchlist JP:9984

SoftBank Group Corp.

JP : Japan: Tokyo

¥ 5,912.00

-88.00 -1.47%

Volume: 15.20M

June 8, 2023 3:00p

P/E Ratio

N/A

Dividend Yield

0.74%

Market Cap

¥7257.00 billion

Rev. per Employee

¥110.02M

/zigman2/quotes/200663563/delayed

Add to watchlist JP:9983

Fast Retailing Co. Ltd.

JP : Japan: Tokyo

¥ 33,730.00

-280.00 -0.82%

Volume: 1.56M

June 8, 2023 3:00p

P/E Ratio

37.00

Dividend Yield

0.74%

Market Cap

¥10689.60 billion

Rev. per Employee

¥44.28M

/zigman2/quotes/201441510/delayed

Add to watchlist HK:2018

AAC Technologies Holdings Inc.

HK : Hong Kong

$ 15.94

+0.04 +0.25%

Volume: 3.11M

June 8, 2023 4:08p

P/E Ratio

20.88

Dividend Yield

0.75%

Market Cap

$19.06 billion

Rev. per Employee

$862,813

/zigman2/quotes/204979431/delayed

Add to watchlist HK:857

PetroChina Co. Ltd.

HK : Hong Kong

$ 5.62

+0.11 +2.00%

Volume: 125.38M

June 8, 2023 4:08p

P/E Ratio

6.01

Dividend Yield

8.26%

Market Cap

$1481.12 billion

Rev. per Employee

$8.99M

/zigman2/quotes/206420319/delayed

Add to watchlist KR:000660

SK Hynix Inc.

KR : S. Korea: KRX

₩ 109,700

+1,700 +1.57%

Volume: 4.36M

June 8, 2023 3:30p

P/E Ratio

N/A

Dividend Yield

1.09%

Market Cap

₩74263.03 billion

Rev. per Employee

N/A

/zigman2/quotes/201448516/delayed

Add to watchlist AU:BHP

BHP Group Ltd.

AU : Australia: Sydney

$ 44.13

+0.51 +1.17%

Volume: 8.80M

June 8, 2023 4:10p

P/E Ratio

7.95

Dividend Yield

8.99%

Market Cap

$220.93 billion

Rev. per Employee

N/A

/zigman2/quotes/200083756/delayed

Add to watchlist AU:RIO

Rio Tinto Ltd.

AU : Australia: Sydney

$ 114.00

+2.37 +2.12%

Volume: 1.71M

June 8, 2023 4:10p

P/E Ratio

10.53

Dividend Yield

6.23%

Market Cap

$160.64 billion

Rev. per Employee

$1.49M