Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  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
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
Latest news
Date Title
04:45p BAHRAIN TOURISM : GHG posts net profit of BD12.3m for Q3 2016
04:45p KUWAIT FINANCE HOUSE KSC : Ali AlJawder KFH ‘Libshara’ winner
04:45p Sprout Baby App offers first-of-its-kind Health Tracker and on-demand Doctor Reports for babies and toddlers
04:44p GENERAL ELECTRIC : How energy-efficient upgrades can increase your home's value
04:43p SHANGHAI PHARMACEUTICALS : Released 2016 Q3 Results
04:43p Alpha Genesis Animal Care Program Passes Federal Inspection
04:43p OUTFRONT MEDIA : Announces Quarterly Dividend
04:43p Fitch Takes Various Rating Actions on Enhanced Equipment Notes Issued by Air 2 US
04:43p Easy Potluck Party Dishes
Latest news
Hot News 
-9.77%ARCADIS : CEO of engineering firm Arcadis quits after profit fall
-7.05%Brexit dents Swiss engineer ABB's orders and outlook
-20.73%AMEC FOSTER WHEELER : unnerves investors as it postpones capital markets day
-5.43%BUCHER INDUSTRIES : Brexit vote hits Bucher's street and sewer cleaning sales
-3.62%SCHNEIDER ELECTRIC : sees Brexit impact in coming quarters
Most Read News
08:20a European banks reassure on earnings, dollar holds near highs
07:44a VOLKSWAGEN : VW brand profit plunges, Porsche lifts group
06:07a NISSAN MOTOR : UK car exports offset domestic drop in September output rise
02:44a Telefonica will decide on O2 listing when markets steady - UK CEO
10/26 China courier ZTO delivers year's biggest U.S. IPO
Most recommended articles
10/26DJS&P 500, Nasdaq Futures -- Technical Analysis
10/25 DEUTSCHE BANK : Schaeuble says monetary policy has reached its limits
10/25 APPLE : Gadgets in decline as R&D shifts to software and services - study
10/24DJGold Prices Turn Lower Amid Strong Economic Data