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Share Name | Share Symbol | Market | Type |
---|---|---|---|
TDK Corp (PK) | USOTC:TTDKY | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 0.08% | 61.96 | 61.55 | 62.99 | 63.47 | 61.58 | 63.47 | 35,516 | 21:02:10 |
By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) -- Asia stocks stalled Thursday, with Apple Inc. earnings results and forecast pressuring some local technology suppliers, and with Japanese exporters notably lower following weak trade data and little movement for the yen.
Japan's Nikkei Stock Average traded flat after losing almost 4% over the past three sessions, while South Korea's Kospi fell 0.6%, and Australia's S&P/ASX 200 index lost 0.1%.
Asia's weak tone came despite gains Wednesday for U.S. stocks, helped by a vote to suspend the government's debt limit until May, heading off the possibility of a near-term government default.
Investor favorite Apple Inc. (AAPL) advanced in the regular U.S. session ahead of the release of its fiscal first-quarter results. However, the shares fell sharply in after-hours trade as Apple posted almost flat earnings, weaker-than-expected revenue and a disappointing forecast.
"With Apple's worse-than-expected results, it would not be surprising if we see some consolidation in risk appetite today," said Gary Yau, strategist at Crédit Agricole.
The Apple news had a knock-on effect for some Japanese companies in the firm's supply chain, with screen supplier Sharp Corp. (SHCAF) down 1.2%, Foster Electric Co. declining 0.8%, and TDK Corp. (TTDKF) lower 1%.
Similarly, South Korean Apple supplier LG Display Co. (LPL) dropped 2.3% in Seoul.
Apple handset rival Samsung Electronics Co. (SSNLF), which has also supplied some components for Apple products, lost 1% in Korean trade, while Softbank Corp. (9984.TO) -- a Japanese carrier of the iPhone -- declined 1.4%.
Japanese exporters also moved lower, as the yen remained near its highs of the week, and as data out ahead of the Thursday market open showed a heavier-than-expected drop for exports.
Among the December trade data, Japan recorded an almost 16% drop in China-bound shipments, with Dow Jones Newswires saying the Japanese deficit with China was the worst on record, amid tensions between the two nations.
Exporters suffered in Tokyo, as Honda Motor Co. (HMC) retreated 0.6%, Sony Corp. (SNE) traded down 2.2%, and Pioneer Corp. (6773.TO) lost 1%.
Meanwhile, preliminary data on Chinese manufacturing were due out later Thursday from HSBC. Ahead of that data, Australian miners -- many of which count China as their most important customer -- weakened.
Gold miners fell notably after sector giant Newcrest Mining Ltd. (NCMGF) reported a drop in second-quarter gold output, sending its shares down 1.7%.
Copper miners also put in a weak performance, with PanAust Ltd. (PNA.AU) down 4.6% after flagging in-line production for 2012, and Oz Minerals Ltd. (OZMLY) plunging 5.3%.
In a busy day for Asia economic data, figures out Thursday showed South Korean gross domestic product grew 0.4% in the final quarter of 2012, compared to the previous quarter. The pace of growth just missed economist expectations for a rise of 0.5%. .
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