Tokyo surges on yen weakness but Asian shares fall

Asian shares fell Friday after the previous day's gains but Tokyo hit a 23-month high as the yen sank further after Japan's new leaders unveiled a stimulus package worth hundreds of billions of dollars.

While the yen came under fresh selling pressure after Prime Minister Shinzo Abe outlined his economy-boosting plan, the euro was also lifted by unexpectedly positive comments about the eurozone by European Central Bank head Mario Draghi.

However, the latest inflation data out of China was unable to impress investors as much as the better-than-expected trade figures the previous day that indicate a pick-up in the world's number two economy.

Tokyo climbed 1.40 percent, or 148.93 points, to 10,801.57 -- its highest level since February 2011, but Sydney fell 0.28 percent, or 13.5 points, to close at 4,709.5 and Seoul lost 0.50 percent, or 10.13 points to 1,996.67.

Hong Kong fell 0.39 percent, or 90.24 points, to 23,264.07 and Shanghai closed down 1.78 percent, or 40.66 points, at 2,243.00.

Abe, whose Liberal Democratic Party swept to power last month, set out a $226.5 billion stimulus to kick-start the limp economy with plans to rebuild tsunami-hit areas, beef up the military, boost employment and end deflation.

"With the measures, we will achieve real GDP growth of two percent and 600,000 jobs created," he said in a briefing.

Also Friday data showed that Japan logged a bigger-than-expected 222.4 billion yen deficit in November as exports to Europe and China dropped.

The events in Tokyo sent the yen tumbling.

The unit, which hit a record high of 75 against the dollar in late 2011, has been tumbling since Abe promised in his election campaign last year that he would unveil more stimulus and also urge the Bank of Japan for more aggressive monetary easing.

The dollar climbed to 89.34 yen at one point in Tokyo -- its highest since June 2010 -- before easing back to 88.99 yen in Europe, but still up from 88.64 in New York late Thursday.

The euro also surged to 118.56 yen in early Tokyo trade, breaking 118 yen for the first time since May 2011. It then retreated to 118.05 yen, from 117.53 yen in New York.

The single currency rose after the ECB decided not to cut interest rates, as some observers had expected, while Draghi said the eurozone was looking in better shape than last year.

Among a long list of positives, he pointed to lower bond yields, higher stock prices, record-low volatility, strong inflows into the eurozone, a halt of capital flight in peripheral countries and a reduction of the ECB's balance sheet.

"If you look at the overall landscape taking, let's say, a medium-term perspective... you will see a significant improvement in financial market conditions," he said.

He added that the debt crisis was not yet over, but said while the overriding fear last year had been one of "contagion" and that the crisis would deepen and spread, there was also "positive contagion when things go well".

Against the dollar the euro bought $1.3265, from $1.3261 in New York.

In China official figures showed inflation came in at 2.6 percent in 2012, down sharply from 5.4 percent the year before and much lower than the 4.0 percent target set by Beijing. And for December the rate hit 2.5 percent, in line with expectations.

While the data gives policymakers more room to loosen monetary policy, dealers were not as excited by the news as Thursday's figures that showed a huge jump in the trade surplus.

On Wall Street the Dow rose 0.60 percent, the S&P 500 advanced 0.76 percent and the Nasdaq added 0.51 percent.

Oil prices were mixed, with New York's main contract, light sweet crude for delivery in February, losing 16 cents to $93.66 a barrel in the afternoon, while Brent North Sea crude for February dropped 53 cents to $111.36.

Gold was at $1,669.80 at 1040 GMT compared with $1,662.87 late Thursday.

In other markets:

-- Singapore closed down 0.30 percent, or 9.75 points, to 3,216.50.

Singapore Telecommunications gained 0.59 percent to Sg$3.39 and investment holding company Jardine Cycle & Carriage gained 0.43 percent to Sg$48.89.

-- Taipei added 0.10 percent, or 7.51 points, to 7,819.15.

HTC rose 0.73 percent to Tw$277.0 while Chunghwa Telecom fell 0.32 percent to Tw$94.2.

-- Manila closed 0.55 percent higher, adding 33.18 points to 6,051.75.

BDO Unibank added 0.33 percent to 75.15 pesos and Ayala Corp. rose 0.55 percent to 550 pesos, while Philippine Long Distance Telephone increased 1.97 percent to 2,688 pesos.

-- Wellington ended 0.31 percent higher, adding 12.67 points to 4,131.75.

Nuplex was up 1.6 percent at NZ$3.21, Telecom advanced 0.43 percent to NZ$2.31 and Fletcher Building added 0.6 percent to NZ$8.72.

-- Kuala Lumpur lost 0.11 percent, or 1.87 points, to end at 1,682.70.

Genting Malaysia fell 3.7 percent to 3.61 ringgit while YTL Power International eased 2.4 percent to 1.60 ringgit. UEM Land Holdings picked up 2.4 percent to 2.15 ringgit.

-- Jakarta fell 0.27 percent, or 11.45 points, to 4,305.91.

Mobile phone provider Indosat dropped 2.14 percent to 6,850 rupiah and cigarette maker Gudang Garam slid 1.04 percent to 52,300 rupiah, while miner Aneka Tambang rose 2.22 percent to 1,380 rupiah.

-- Bangkok added 0.43 percent, or 6.07 points, to 1,412.06.

Siam Cement lost 1.36 percent to 434.00 baht, while telecoms company Advanced Info Service edged up 2.03 percent to 201.00 baht.

-- Mumbai ended flat, up 0.09 points at 19,663.64.

Infosys rose 16.90 percent to 2,712.6 rupees, while rival Wipro rose 6.10 percent to 419.5 rupees.


Get stories like this on the Yahoo app and discover more every day.
Download it now.
  • Singapore Readies New Exotic ETFs to Catch Taiwan, Hong Kong (2) Bloomberg - 2 hours 8 minutes ago

    Singapore Exchange Ltd. last week published a new web page about the products, described as “a form of passive collective investment schemes (like ETFs) and structured as open-end funds,” following revised guidelines from the Monetary Authority of … More »

  • SK Hynix CEO says will consider fresh bid for Toshiba chip unit stake
    SK Hynix CEO says will consider fresh bid for Toshiba chip unit stake Reuters - 2 hours 18 minutes ago

    SK Hynix Inc will consider making a fresh bid for Toshiba Corp's flash memory chip business should the Japanese conglomerate offer more of it for sale, the chief executive of the South Korean chipmaker said on Thursday. Toshiba initially put up … More »

  • Plantation commodity exports rise to RM122b Business Times - 2 hours 19 minutes ago

    PUTRAJAYA: Malaysia raked in RM121.99 billion from plantation commodity exports last year, thanks to slight improvement in the average pricing of palm oil, rubber and cocoa. “Last year’s achievement was 4.2 per cent better than RM117.10 billion in … More »

  • TM targets 4pc revenue expansion this year Business Times - 2 hours 20 minutes ago

    KUALA LUMPUR: Telekom Malaysia Bhd (TM) is targeting up to four per cent revenue growth for the financial year ending December 31 2017, from RM12.06 billion revenue recorded last year, despite an increasingly challenging business environment. Its … More »

  • Australia's Crown profit up but high-roller revenue falls
    Australia's Crown profit up but high-roller revenue falls AFP News - 2 hours 20 minutes ago

    Australian mogul James Packer's Crown Resorts reported a sharply higher second-half net profit Thursday after scaling down a Macau joint venture which offset weaker turnover from high rollers. The casino operator, which has been hit by softening … More »

  • Crude oil rises after report shows drop in stockpiles
    Crude oil rises after report shows drop in stockpiles Reuters - 2 hours 32 minutes ago

    Oil futures rose nearly 1 percent on Thursday after data released by an industry group showed a surprise decline in U.S. crude stocks as imports fell, lending support to the view that a global glut is ending. Brent crude (LCOc1) was up 48 cents, or … More »

  • Ringgit higher versus greenback Business Times - 2 hours 33 minutes ago

    KUALA LUMPUR: The ringgit was higher at today’s opening on positive market sentiment that provided it the support, a dealer said. At 9 am, the local unit was traded at 4.4480/4520 against the greenback from 4.4510/4540 on Wednesday. A dealer said … More »

  • Adelson's Sands Missing Stock Rally as Rivals Pull in VIPs (1) Bloomberg - 2 hours 40 minutes ago

    The so-called mass market -- casual gamblers who visit Macau’s casinos as much for the replicas of European landmarks as the baccarat tables -- has been overshadowed the past three months by a revival in VIP custom, data compiled by Bloomberg … More »

  • BOJ's Kiuchi warns against raising bond yield target Reuters - 3 hours ago

    By Leika Kihara KOFU, Japan (Reuters) - Dissenting Bank of Japan board member Takahide Kiuchi warned that raising the bank's bond yield target near-term would be problematic as inflation remains well below ... … More »

  • 'Le Cost Killer' Ghosn quits Nissan CEO post, stays chair
    'Le Cost Killer' Ghosn quits Nissan CEO post, stays chair AFP News - 3 hours ago

    Nissan chief executive Carlos Ghosn, credited with reinventing the once nearly bankrupt Japanese automaker, said Thursday he is quitting his post to focus on overhauling rival Mitsubishi Motors, but will stay on as chairman. Ghosn, 62, who also … More »

  • China State Fund's Broker Says It's Buying Hong Kong Stocks (1) Bloomberg - 3 hours ago

    Guotai Junan Securities Co. and its Hong Kong unit have been providing the social security fund with investment advice and trading services for mainland and Hong Kong stocks, Yim Fung, chairman and chief executive officer at Guotai Junan … More »

  • First stab at acquisition by Australia's South32 hits competition hurdle
    First stab at acquisition by Australia's South32 hits competition hurdle Reuters - 3 hours ago

    The first attempt at an acquisition by Australia's South32 (S32.AX) following its spinoff from BHP Billiton (BHP.AX) (BLT.L) has raised competition concerns over control of the local coking coal market. Australia's chief competition regulator on … More »

  • Nobel-winning economist Kenneth J. Arrow dies at 95
    Nobel-winning economist Kenneth J. Arrow dies at 95 Associated Press - 3 hours ago

    Kenneth J. Arrow, the youngest-ever winner of a Nobel prize for economics, whose theories on risk, innovation and the basic mathematics of markets have influenced thinking on everything from voting to ... … More »

  • Ctrip Forecasts Sales Surge as Travel Giant Tightens China Grip Bloomberg - 3 hours ago

    China’s largest online travel operator is predicting revenue growth of 40 to 45 percent in the March quarter, which encompasses the peak Lunar New Year travel period, after reporting results that outpaced analysts’ projections. Revenue grew 76 … More »

  • Qantas profit dives 7.5%, fares squeezed
    Qantas profit dives 7.5%, fares squeezed Bloomberg - 3 hours ago

    Chief Executive Officer Alan Joyce, who is in the final six months of a three-year turnaround plan, said confidence is returning in the Australian economy and that trend would continue in the second half of the year. After ditching some unprofitable … More »

  • Nissan CEO Carlos Ghosn to step down, stay as chairman Business Times - 4 hours ago

    TOKYO: Nissan boss Carlos Ghosn will step down as chief executive at the Japanese automaker, but will remain chairman as he focuses on its alliance with Renault and Mitsubishi, the company said Thursday. Ghosn, who is widely credited with turning … More »

  • Tesla says Model 3 on track for volume production by September Business Times - 4 hours ago

    SAN FRANCISCO: Tesla Inc said on Wednesday its mass-market Model 3 sedan was on track for volume production by September, encouraging investors who see the electric vehicle as the avenue to profitability for the young company. “According to our … More »

  • Dorsey's Square reports smaller-than-expected quarterly loss
    Dorsey's Square reports smaller-than-expected quarterly loss Reuters - 4 hours ago

    The San Francisco-based company, which is run by Twitter Inc (TWTR.N) Chief Executive Jack Dorsey, posted a quarterly loss of 4 cents per share on revenue of $452 million. Analysts on average had expected a loss of 9 cents per share on revenue of … More »

  • Solar Capital meets 4Q profit forecasts Associated Press - 4 hours ago

    On a per-share basis, the New York-based company said it had profit of 42 cents. The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was ... … More »

  • SP Plus posts 4Q profit Associated Press - 4 hours ago

    The Chicago-based company said it had profit of 43 cents per share. Earnings, adjusted for one-time gains and costs, came to 52 cents per share. The parking facility management company posted revenue of ... … More »

  • U.S. oil rises after report shows drop in stockpiles
    U.S. oil rises after report shows drop in stockpiles Reuters - 4 hours ago

    TOKYO (Reuters) - U.S. oil futures rose nearly 1 percent on Thursday after data released by an industry group showed a surprise decline in U.S. crude stocks as imports fell, lending support to the view ... … More »

  • CoreLogic beats Street 4Q forecasts Associated Press - 4 hours ago

    On a per-share basis, the Irvine, California-based company said it had profit of 4 cents. Earnings, adjusted for one-time gains and costs, were 56 cents per share. The results exceeded Wall Street expectations. ... … More »

  • Tesla swings to loss in 4Q, says Model 3 on target
    Tesla swings to loss in 4Q, says Model 3 on target Associated Press - 4 hours ago

    Unable to string together profitable quarters, electric car and solar cell maker Tesla Inc. reported a loss for the last three months of 2016. Tesla posted its first profit in three years in last year's ... … More »

  • UK car production reaches nine-year high in January Reuters - 4 hours ago

    British car production rose by an annual 7.5 percent in January to hit its highest since 2008, as strong demand for exports compensated for a decline in demand at home, an industry body said on Thursday. Vauxhall's Ellesmere Port plant in northern … More »

  • Tokyo stocks open lower AFP - 5 hours ago

    Tokyo stocks opened lower Thursday as the yen strengthened against the dollar and investors contemplated the minutes from the US Federal Reserve's latest meeting. The benchmark Nikkei 225 index slipped ... … 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.
to view quotes in your portfolios.


  • Most Actives
    Most Actives
    NamePriceChange% Chg
  • % Gainers
    % Gainers
    NamePriceChange% Chg
  • % Losers
    % Losers
    NamePriceChange% Chg

Market Data

  • Currencies
    NamePriceChange% Chg
  • Commodities
    NamePriceChange% Chg
  • Bonds
    TreasuryYield (%)Yield Change