Asian markets slip after US data, Wall St loss

Asian markets were mixed Thursday, with late buying offsetting earlier falls that had been fuelled by losses on Wall Street as US data showed the economy shrank in the final three months of 2012.

The surprise numbers from Washington, the first contraction since mid-2009, saw the dollar weaken further after suffering a sell-off in New York trade.

Tokyo rose 0.22 percent, or 24.71 points, to 11,138.66 and Shanghai added 0.12 percent, or 2.95 points, to 2,385.42. But Seoul slipped 0.13 percent, or 2.49 points, to 1,961.94 and Sydney lost 0.37 percent, or 17.9 points, to 4,878.8.

Hong Kong shed 0.39 percent, or 92.53 points, to 23,729.53.

Most of the region's indexes have enjoyed a strong month as dealers grow more confident about the global outlook, with Sydney enjoying its best January since 1994.

Investors were surprised by the US Commerce Department figures showing the world's biggest economy shrank at an annual rate of 0.1 percent in the October-December quarter. Forecasts had been for a 1.0 percent rise.

However, the Federal Reserve, wrapping up a two-day policy meeting, dismissed the contraction as "transitory", noting the economy had "paused" in recent months.

The Fed stayed the course on its ultra-loose monetary policy as expected, saying growth should be moderate moving ahead.

On Wall Street the Dow, which ended Tuesday just short of its all-time high, fell 0.32 percent, while the S&P 500 shed 0.39 percent and the Nasdaq slipped 0.35 percent.

SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires: "The (US) numbers will likely be treated as a bit of a one-off, as they masked stronger consumer and business spending and progress in the housing recovery."

On currency markets the greenback bought 90.90 yen in afternoon Asian trade, from 91.05 yen late Wednesday in New York. The US unit is well down from the 91.40 seen earlier Wednesday in Asia.

The euro was at 123.12 yen and $1.3547 against 123.54 yen and $1.3564.

In, Japan the government released figures showing factory production rose 2.5 percent in December month-on-month.

Despite coming up short of expectations of a 4.0 percent rise the economy ministry said the data indicated "industrial production shows signs of having bottomed out".

Oil prices fell, with New York's main contract, light sweet crude for delivery in March, down 12 cents to $97.82 a barrel. Brent North Sea crude for March delivery lost 10 cents to $114.80 in the afternoon.

Gold was at $1,676.68 at 0810 GMT compared with $1,666.55 late Wednesday.

In other markets:

-- Taipei rose 0.22 percent, or 17.04 points, to 7,850.02.

Leading smartphone maker HTC was 0.52 percent higher at Tw$291.5 while Hon Hai Precision shed 0.59 percent to end at Tw$84.4.

-- Manila closed 0.45 percent lower, shedding 28.49 points to 6,242.74.

Philippine Long Distance Telephone Co. dropped 2.0 percent to 2,786 pesos and Metro Pacific Investment which was down 0.38 percent at 5.20 pesos.

-- Wellington rose 0.12 percent, or 5.10 points, to 4,252.65.

NZ Oil & Gas gained 1.7 percent to NZ$0.91, Fletcher Building added 1.4 percent to NZ$9.52 and Air New Zealand was up 0.40 percent at NZ$1.25 while Telecom climbed 1.25 percent to NZ$2.43.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • The Latest: Fewer casualties likely in quake damaged hotel
    The Latest: Fewer casualties likely in quake damaged hotel Associated Press - 11 minutes ago

    The Latest on the earthquake in central Italy (all times local): __ 2:30 a.m. Italian rescue workers are expecting fewer casualties than initially feared at the site of a hotel that was badly damaged in ... … More »

  • CDH Investments Offloads $1.2 Billion Stake in Pork Producer WH Bloomberg - 34 minutes ago

    (Bloomberg) -- Chinese private equity firm CDH Investments Fund Management Co. raised $1.2 billion from paring its stake in WH Group Ltd., the world’s biggest pork producer. … More »

  • Asia slips on weaker Wall Street, dollar marks time before Yellen Reuters - 36 minutes ago

    Asian stocks slipped on Thursday, taking their cue from an overnight drop on Wall Street, while the dollar marked time ahead of Friday's speech by Federal Reserve Chair Janet Yellen at the global central bankers' meeting. MSCI's broadest index of … More »

  • New PBOC Money-Market Tactic Has Traders Trying to Decode Signal Bloomberg - 37 minutes ago

    The People’s Bank of China sold 50 billion yuan ($7.5 billion) of 14-day reverse-repurchase agreements on Wednesday, its first offering of anything with a tenor other than seven days since February. Officials are signaling they’re ready to curb … More »

  • Tokyo shares open flat after Wall Street losses AFP - 44 minutes ago

    Tokyo shares opened flat on Thursday following a negative lead from Wall Street as investors sat on the fence ahead of a key speech from Federal Reserve boss Janet Yellen. The benchmark Nikkei 225 index ... … More »

  • Miguel ‘Mike’ Varela passes away
    Miguel ‘Mike’ Varela passes away Philippine Star - 1 hour 0 minutes ago

    Miguel Varela, a prominent corporate lawyer who served as president and chairman of the Philippine Chamber of Commerce and Industry (PCCI) as well as president of the Employers’ Confederation of the Philippines (ECOP), passed away yesterday. He was … More »

  • 'SNL' star Leslie Jones' personal site offline after hacking
    'SNL' star Leslie Jones' personal site offline after hacking Associated Press - 1 hour 11 minutes ago

    Leslie Jones, the black "Saturday Night Live" and "Ghostbusters" actress-comedian, is again the target of racist and sexist online attacks. Jones' personal site was taken offline Wednesday ... … More »

  • China Oil Giants Unmoved by Bull Rally After Worst-Ever Earnings Bloomberg - 1 hour 27 minutes ago

    PetroChina Co., the country’s biggest oil and gas company, and Cnooc Ltd., China’s main offshore explorer, reported the weakest earnings since they were both publicly listed. Oil has whipsawed this year, flipping five times between bear and bull … More »

  • HP Inc. tops Street 3Q forecasts but outlook clips stock
    HP Inc. tops Street 3Q forecasts but outlook clips stock Associated Press - 2 hours 5 minutes ago

    Shares in HP Inc. tumbled in extended trading Wednesday after the personal computer and printer maker beat expectations with its results for its fiscal third quarter but its outlook for the current quarter ... … More »

  • Syria regime launched chemical attacks, IS used mustard gas: UN report
    Syria regime launched chemical attacks, IS used mustard gas: UN report AFP News - 2 hours 7 minutes ago

    A UN investigation has established that President Bashar al-Assad's forces carried out at least two chemical attacks in Syria and that Islamic State jihadists used mustard gas as a weapon, according to a report seen by AFP on Wednesday. The panel … More »

  • HP Inc beats estimates, weak printer demand weighs on forecast
    HP Inc beats estimates, weak printer demand weighs on forecast Reuters - 2 hours 10 minutes ago

    By Aishwarya Venugopal (Reuters) - HP Inc, the hardware business of the former Hewlett-Packard Co, reported higher-than-expected quarterly revenue and profit as demand recovered for its notebooks. However, ... … More »

  • Ex-Comverse CEO pleads guilty to fraud, a decade after fleeing to Africa
    Ex-Comverse CEO pleads guilty to fraud, a decade after fleeing to Africa Reuters - 2 hours 29 minutes ago

    The former chief executive officer of Comverse Technology Inc pleaded guilty to securities fraud on Wednesday and was ordered detained a decade after fleeing the United States for Namibia to avoid prosecution. Jacob "Kobi" Alexander, the Woodbury, … More »

  • Weak petroleum, pharma hit US stocks
    Weak petroleum, pharma hit US stocks AFP News - 2 hours 39 minutes ago

    Weakness in petroleum-linked shares and pharmaceuticals pushed US stocks lower Wednesday as global markets awaited a speech this week by Federal Reserve Chair Janet Yellen. The declines by US pharma companies came as mounting criticism of drugmaker … More »

  • U.S. Troubles Over Trump and TPP Risk Emboldening China in Asia Bloomberg - 3 hours ago

    Beijing is boosting its military presence in the area unabated, in the face of stepped-up U.S. patrols and a recent arbitration court ruling that invalidated its claims to most of the waterway. After decades of U.S. dominance in the western … More »

  • Canada takes tougher line with China over canola export dispute
    Canada takes tougher line with China over canola export dispute Reuters - 3 hours ago

    Canada hardened its line with China on Wednesday in a dispute over Canadian canola exports, saying bilateral relations could not improve until Beijing took action to settle the matter. Trade Minister Chrystia Freeland made the remarks in an … More »

  • Stocks Decline on Emerging-Market Risk as U.S. Drugmakers Tumble Bloomberg - 3 hours ago

    Developing-nation shares slid after Turkey launched a military operation in Syria, while North Korea conducted a missile test. South Africa’s rand sank as the nation’s finance minister refused to report to police amid a probe. Drugmakers dragged … More »

  • Wall Street stocks retreat, oil tumbles on oversupply concerns
    Wall Street stocks retreat, oil tumbles on oversupply concerns Reuters - 3 hours ago

    Wall Street stocks retreated on Wednesday led by health care and materials stocks, while oil prices tumbled about 3.0 percent on worries about oversupply. Mylan (MYL.O) slumped 5.4-percent to $43.15 after U.S. presidential candidate Hillary Clinton … More »

  • Oil pipeline: The legal challenges and protests
    Oil pipeline: The legal challenges and protests Associated Press - 3 hours ago

    A federal judge has heard testimony in the Standing Rock Sioux Tribe's request to temporarily block the construction of a four-state oil pipeline near their reservation, which straddles the North Dakota-South ... … More »

  • Business Highlights Associated Press - 3 hours ago

    ___ The hidden risk to the economy in corporate balance sheets America's debt problem is showing up in an unexpected place: Corporate America. Of the $1.8 trillion in cash that's sitting in U.S. corporate ... … More »

  • U.S. banking regulators focused on cyber security after SWIFT attacks
    U.S. banking regulators focused on cyber security after SWIFT attacks Reuters - 3 hours ago

    U.S. banking regulators said on Wednesday they are focused on cyber security risks and controls for U.S. financial institutions after attacks earlier this year involving the global financial network known as SWIFT. In a letter responding to … More »

  • Dismal time for Gulf oil = record low lease bidding
    Dismal time for Gulf oil = record low lease bidding Associated Press - 3 hours ago

    The federal government's annual sale of oil and gas leases in the Gulf of Mexico attracted hardly any interest on Wednesday, reflecting a dismal outlook for offshore drilling. Only three oil companies ... … More »

  • Australia's Luxury-Car Binge Belies Its Drop in Living Standards Bloomberg - 4 hours ago

    "A lot has been made of softer economic conditions over the first half of 2016, however the same cannot be said for the luxury car market,'' said Savanth Sebastian, an economist at CommSec. "Higher home prices are boosting wealth levels and … More »

  • How the Dow Jones industrial average fared on Wednesday Associated Press - 4 hours ago

    Stocks closed lower on Wednesday, led by sharp declines in health-care companies as outrage over the steep price hikes for Mylan's EpiPens escalates. On Wednesday: The Dow Jones industrial average fell ... … More »

  • Stocks end lower as health-care companies decline
    Stocks end lower as health-care companies decline Associated Press - 4 hours ago

    Stocks closed lower on Wednesday, led by sharp declines in health-care companies as outrage over the steep price hikes for Mylan's EpiPens escalates. Trading remains quiet overall with many investors still ... … More »

  • Pharma shares under fire as US stocks fall AFP - 4 hours ago

    US stocks fell Wednesday with pharmaceutical shares tumbling as controversy over the sky-high price of Mylan's EpiPen prompted rebukes from the White House and Democratic presidential candidate Hillary ... … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

    Market Data

    • Currencies
      Currencies
      NamePriceChange% Chg
      1.3536-0.0001-0.01%
      USDSGD=X
      1.5261+0.0012+0.08%
      EURSGD=X
      1.7947+0.0041+0.23%
      GBPSGD=X
      74.1810+0.038+0.05%
      SGDJPY=X
      5.7264+0.0028+0.05%
      SGDHKD=X
      2.9789+0.002+0.07%
      SGDMYR=X
      9,812.3965+29.1553+0.30%
      SGDIDR=X
      4.9155+0.0022+0.04%
      SGDCNY=X
      1.0323+0.0016+0.16%
      AUDSGD=X
    • Commodities
      Commodities
      NamePriceChange% Chg
      1,328.90-0.80-0.06%
      GCZ16.CMX
      18.50-0.06-0.33%
      SIU16.CMX
      95.34-8.55-8.23%
      ^XAU
      2.08+0.01+0.26%
      HGU16.CMX
      46.82+0.05+0.11%
      CLV16.NYM
    • Bonds
      Bonds
      TreasuryYield (%)Yield Change
      1.140.00
      ^FVX
      1.56+0.01
      ^TNX
      2.24+0.01
      ^TYX