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

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 CET

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
10:40aDJEUROPE MARKETS : European Stocks In Holding Pattern, Slowed By Falls For Deutsche Börse, LSE
10:40a BOSNIA AND HERZEGOVINA : Pulpwood, Round&Split (Coniferous) - Market Report - Analysis And Forecast To 2025 - Research and Markets
10:39a CANADA : Case Materials - Market Report - Analysis And Forecast To 2025 - Research and Markets
10:39a Worldwide $1.53 Billion Edible Insects Market 2016-2021 by Coated (Bars, Candy, Chocolate, Cookie, Chips, Crackers, Snack) & Powdered (Flour, Baking Powder, Protein Powder, Salts)
10:38a BANK VTB : Russia's VTB plans to slim down in Europe, keep London as hub
10:38a EQS-NEWS : Moody's has raised Guotai Junan International's Credit Ratings
10:37a BROKER RATINGS SUMMARY : Deutsche Bank Lifts Essentra To Buy From Hold
10:37a ROTORK P L C : Monitors Political Changes After Some Stability Returns In 2016
10:37aDJECB Says Lending to Eurozone Households Rose in January
10:37a Global Anticoagulants Market Outlook to 2020 - Demand for Patented NOACs with Prevalence of Cardiac Diseases to Drive Global Market - Research and Markets
Latest news
Advertisement
Hot News 
-3.30%LONDON STOCK EXCHANGE : LSE scuppers Deutsche Boerse merger hopes by rejecting EU demand
-7.69%NOXOPHARM (ASX : NOX) talks applications for its cancer drug candidate NOX66
3.13%ESURE : UK insurer esure Group sees 2016 profit ahead of expectations
2.26%BUNZL : British firm Bunzl reports higher-than-expected full-year profit
-6.23%DIRECT LINE INSURANCE : expects lower profit before tax due to discount rate change
Most Read News
04:38a BANK VTB : Russia's VTB plans to slim down in Europe, keep London as hub
03:52a LONDON STOCK EXCHANGE : LSE scuppers Deutsche Boerse merger hopes by rejecting EU demand
03:12a Britain cuts discount rate for personal injury claims in blow for insurers
02/26DJOil Prices See Modest Gains; Downside Pressure Remains
02:58a ASSOCIATED BRITISH FOODS : Primark owner AB Foods maintains guidance as all divisions show growth
Most recommended articles
01:48a Amazon, Netflix grab a share of Oscar glory
02/23DJVIVENDI : Full-Year Earnings Beat Estimates
04:38a BANK VTB : Russia's VTB plans to slim down in Europe, keep London as hub
04:31aDJLONDON MARKETS : FTSE 100 Travels Higher As Pound Drops, But LSE Dragged Down By M&A Fears
04:16aDJNEWS HIGHLIGHTS : Top Energy News of the Day