Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

ASIA MARKETS: Asia Stocks Gain, Smartphone Sales Help Japan

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/30/2013 | 02:23am CEST

By Sarah Turner, MarketWatch

SYDNEY (MarketWatch) -- Asia stocks gained on Wednesday, as several Japanese telecom and technology companies benefitted from smartphone exposure, while South Korea and Australia also saw some buying ahead of a policy decision from the U.S. Federal Reserve.

Japan's Nikkei Stock Average rose 0.9%, while South Korea's Kospi moved up a more moderate 0.4%, and Australia's S&P/ASX 200 index advanced 0.3%.

Monetary policy was on the agenda for investors, with the U.S. Federal Reserve due to wrap up a two-day policy meeting later Wednesday. Investors were on alert for any signals as to the duration of the Fed's bond-buying program.

With Spanish and U.S. gross domestic product figures also due out, "data releases ahead of the Fed FOMC rate decision today will keep markets busy, but activity will be limited, and markets will move sideways until the Fed delivers its outcome," Crédit Agricole strategist Mitul Kotecha said.

U.S. stock gains Tuesday set up a mostly positive lead for Asia, with pharmaceutical giant Pfizer Inc. (>> Pfizer Inc.) leading blue-chip gains after reporting fourth-quarter earnings that beat estimates.

Earnings outlooks gave the Japanese market an extra boost on Wednesday, as Yahoo Japan Corp. (>> Yahoo Japan Corporation) surged 18.8% after updating its fiscal-year earnings forecast to a 10%-11% gain year-on-year, amid growing online advertising revenue, including for smartphones.

Telecoms also saw earnings-related buying, with Softbank Corp. (>> Softbank Corp) up 2.8% after the Nikkei reported that the wireless carrier is expected to post a 10% gain for its April-December operating profit, helped by sales of Apple Inc.'s (>> Apple Inc.) iPhone.

Rival KDDI Corp. (>> KDDI Corp) -- which also sells the iPhone, and which already posted a 40% gain in its October-December operating profit late Monday -- saw its shares rise another 2.6% on Wednesday.

Also among the wireless carriers, NTT DoCoMo Inc. (>> NTT Docomo Inc) traded up 0.2%, even as a separate Nikkei report tipped a 9% lower nine-month operating profit for the firm.

Central Japan Railway Co. jumped 8.4% after reporting a 49% rise in nine-month net profit, while among other rail shares, Keisei Electric Railway Co. rose 1.3% and East Japan Railway Co. gained 1.5%.

On the downside in Tokyo, Komatsu Ltd. (>> Komatsu Ltd) lost 1%, and Fujifilm Holdings Corp. (FUJI) fell 1.9% after both firms cut their earnings outlooks while issuing weaker quarterly results.

In South Korean trading, Samsung Electronics Inc. (>> Samsung Electronics Co., Ltd.) rose 1%, while rival chip maker SK Hynix Inc. (>> HYNIX SEMI GDS) rose 2.3% after reporting a swing to quarterly profit thanks to rising chip demand on the release of new smartphones and other devices.

Australia saw major mineral extractors advance, with Rio Tinto Ltd. (>> Rio Tinto plc) up 1.1%, and BHP Billiton Ltd. (>> Rio Tinto plc) higher by 0.9%.

The move in the mining sector offset losses for consumer-staples firms, including Coles supermarket owner Wesfarmers Ltd. [(>> WESFARMER ADR), which traded down 0.9% after reporting second-quarter sales figures.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
09:01a PROTECTIVE LIFE : 2016 Black Belt Community Foundation Legacy Award (Oct. 18, 2016) to Honor John D. Johns, CEO & Chairman of Protective Life Corporation for Philanthropy Leadership
09:01a APPLE : mCruncher Releases Furiend 1.4.0
09:01a RE/MAX : Growing Number of Chicago-Area Homebuyers Must Master Multiple-Offer Situations, RE/MAX Brokers Report
08:50a CAMBREX : New Jersey company buys PharmaCore
08:49aDJAT&T : to Stop Collecting Customers' Internet Visits -- WSJ
08:48aDJAIRBUS : Streamlines Its Operations -- WSJ
08:48aDJCBS : Viacom, CBS Move to Explore Merger -- WSJ
08:48aDJCRYSTAL BALL : Death of the Stock Split: It's Value That Matters -- WSJ
08:48aDJQUALCOMM : Chip Deal Would Shift Qualcomm -- WSJ
08:48aDJWHAT'S NEWS : Business & Finance -- WSJ
Latest news
Advertisement
Hot News 
-13.25%COGNIZANT TECHNOLOGY : Investigating Indian Payments
2.60%MCCORMICK MPANY INCORPORATED : Boosts Full-Year Outlook
3.40%Costco quarterly profit beats on lower fees to Visa
5.41%Savannah Resources 1st Half Net Loss Narrows; Extends JV Deadline
2.76%DUNKIN BRANDS : Coke, Dunkin' Take On Pepsi in Bottled Coffee -- WSJ
Most Read News
09/30 VOLKSWAGEN : will pay $1.21 billion to settle U.S. dealer claims
09/30 WAL-MART STORES, INC. : to Webcast 2016 Meeting for the Investment Community
09/30 CHINA SET TO EXPORT CORN, THREATENING GLOBAL MARKET : sources
09/30 GOODYEAR TIRE & RUBBER : shows off 'Urban CrossOver' tire for Lexus concept car at Paris Motor Show
09/30 AUDI : opens Mexico plant to make Q5 SUV
Most recommended articles
09/26Predicting the U.S. Elections With The WMA Trump/Clinton Barometer
02:49aDJAT&T : to Stop Collecting Customers' Internet Visits -- WSJ
02:48aDJCBS : Viacom, CBS Move to Explore Merger -- WSJ
02:48aDJAIRBUS : Streamlines Its Operations -- WSJ
02:48aDJCRYSTAL BALL : Death of the Stock Split: It's Value That Matters -- WSJ