Daily Comments
Asia: Japanese exporters hit by rising yen
27.01.2012 17:49:00 Daria Bulanova, Analyst, Global Markets (Finam)
On Friday, January 27, major Asian benchmarks ended mixed as, on the one hand, rising commodities prices pushed mining stocks higher, while on the other hand, a stronger yen weighed on Japanese exporters. As for stocks in China, Taiwan and Vietnam, equity markets were closed in those countries in observance of the Lunar New Year holidays.
On the macroeconomic front, South Korea’s consumer confidence shrank to 98 in January from 99 in December. New Zealand’s trade surplus widened to NZD 1.11 bn last year, overshooting forecasts of a rise to NZD 0.67 bn from NZD 0.56 bn. Japan released a report on consumer price trends showing that the CPI slid 0.2% m-o-m in December and retail sales picked up 2.5% last month after a 2.3% contraction in November.
The regional benchmark MSCI Asia Pacific was almost flat, closing at 122.63. Japan’s Nikkei 225 edged 0.09% lower, while South Korea’s Kospi and Australia’s S&P/ASX 200 climbed 0.39% and 0.40%.
Crude oil and base industrial metals, including copper and aluminum, rose, spurring demand for mining stocks. Australian oil&gas producer Woodside Petroleum gained 1.5%, while Japanese energy company Inpex jumped 2.9% and Japan Petroleum Exploration firmed 1.3%.
Japanese exporters were among the session’s worst performers, with the country’s second-biggest carmaker Honda Motor and consumer electronics manufacturer Sony falling 1.9% and 1.4%.
Japan’s biggest telecom equipment maker NEC sank 7.1% after saying it is likely to make loss in the fiscal quarter ending March 31.
Hong Kong-based solar panel maker GCL-Poly Energy Holdings ended up 4.4% on speculation the market in China will expand.
| Index | Country | Value | Change | Change, % | YTD, % |
|---|---|---|---|---|---|
| S&P/ASX 200 | Australia | 4288,37 | 17,03 | 0,40% | 5,71% |
| All Ordinaries | Australia | 4348,48 | 19,39 | 0,45% | 5,78% |
| Ho Chi Minh | Vietnam | 373 | 0 | 0,00% | 6,10% |
| Hang Seng | Hong Kong | 20501,7 | 62,53 | 0,31% | 11,21% |
| Hang Seng H-shares | Hong Kong | 15133,6 | 63,23 | 0,42% | 52,30% |
| BSE 30 (Sensex) | India | 17234 | 156,8 | 0,92% | 11,51% |
| Jakarta Composite | Indonesia | 3986,41 | 2,98 | 0,07% | 4,30% |
| Shanghai A-shares | China | 2429,7 | 0 | 0,00% | 5,45% |
| CSI 300 | China | 2504,09 | 0 | 0,00% | 6,75% |
| KLSE Composite | Malaysia | 1520,9 | -2,96 | -0,19% | -0,64% |
| NZSE 50 | New Zealand | 3294,64 | 12,97 | 0,40% | 0,61% |
| Karachi 100 | Pakistan | 11925,9 | 41,94 | 0,35% | 5,41% |
| Straits Times | Singapore | 2916,26 | 21,83 | 0,75% | 10,20% |
| Bangkok SET | Thailand | 752,18 | 6,37 | 0,85% | 4,70% |
| TAIEX | Taiwan | 7233,69 | 0 | 0,00% | 2,29% |
| PSEi | Philippines | 4679,89 | 68,21 | 1,48% | 7,04% |
| Colombo All-Shares | Sri Lanka | 5725,44 | 133,04 | 2,38% | -5,75% |
| KOSPI | South Korea | 1964,83 | 7,65 | 0,39% | 7,62% |
| Nikkei 225 | Japan | 8841,22 | -8,25 | -0,09% | 4,56% |
| Topix | Japan | 761,13 | -3,48 | -0,46% | 4,46% |
