Asia Stocks Drop, With Japan Exporters Weak

Asia Stocks Drop, With Japan Exporters Weak
Market News
Like Us On Facebook
Like Us On Facebook

Asia stocks started Friday trading on a lower note, with Japanese exporters suffering from currency headwinds.

In early moves, Japan’s Nikkei Stock Average JP:NIK -0.87%   lost 0.5%, Australia’s S&P/ASX 200 AU:XJO -0.59%  fell 0.2%, and South Korea’s Kospi KR:0100 -1.29%  dropped 0.6%.

Rises in borrowing costs for the French and Italian governments overnight helped send the euro lower, with its cross rate against the Japanese yen falling below the ¥99 level overnight.

This weighed on many Japanese exporters with large exposure to Europe. Sony Corp.JP:6758 -1.89%   SNE -0.15%  lost 1.5%, NEC Corp. JP:6701 -1.85%   NIPNF +5.21%  fell 1.9%, Nissan Motor Co. JP:7201 -2.03%   NSANY -1.38%  retreated 1.6%, and Mazda Motor Corp.JP:7261 -1.46%   MZDAF +2.41%  gave up 0.7%

The losses came despite a somewhat brighter finish for Wall Street on Thursday, where the Dow industrials finished almost flat, but the Nasdaq and S&P 500 both made gains

Attention among both U.S. and Asian investors was on the key U.S. employment report, due out later Friday.

Energy stocks also moved lower in Tokyo on Friday, after benchmark New York Mercantile Exchange crude oil lost ground overnight after data should supplies at higher-than-expected levels.

Inpex Corp. JP:1605 -1.21%  moved 1.2% lower, Japan Petroleum Exploration Co.JP:1662 -1.63%   JPTXF +2.00%  dropped 2%, and JX Holdings Inc. JP:5020 -1.90%  JXHGF -10.40%  was off 1.7%.

In Sydney, the energy sector was more mixed, with Santos Ltd. AU:STO -0.98%  STOSF -1.95%  down 0.5% and WorleyParsons Ltd. AU:WOR -1.59%   WYGPF 0.00%  lower by 0.9%, but with Woodside Petroleum Ltd. AU:WPL +0.80%   WOPEF +3.48%   up 1.2%, and Origin Energy Ltd. AU:ORG +0.38%   OGFGF -3.90%  adding 1%.

Australia’s weak spot was in the financial space, with the National Australia Bank Ltd.AU:NAB -1.22%   NAUBF +1.02% falling 0.8%, and Macquarie Group Ltd. AU:MQG -1.14%  MCQEF +0.79%   losing 1%, amid the European concerns.

Among other movers, Olympus Corp. JP:7733 -0.97%   OCPNF +4.00%  lost 1.2% after former chief executive officer Michael Woodford decided not to start a proxy battle against the firm’s management, due to a lack of support from institutions holding the shares.

Samsung Electronics Co. SSNGY 0.00%   failed to get a bump from a fourth-quarter outlook tipping a 73% rise in operating profit. The shares lost 0.8%, with Dow Jones Newswires reporting net selling by foreign investors on the Seoul bourse.

Market Watch

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Preston Waters

Preston Waters is a thinker. He's not your traditional philosophical persona, however, as he leaves no topic untouched. Covering all the bases, from business to women, Preston Waters is the ultimate man's man for Gen-Y.

More In Market News

News Preston Waters

Stocks Off to Stellar Start in May

Stocks were kicking off May in high style Tuesday, posting sharp gains after a much better-than-expected report on U.S. manufacturing activity. The Dow Jones Industrial Average was rising 103 points, or 0.8%, at 13,317, after hitting a four-year high at 13,338. The S&P 500 was up 14 points, or 1%, at 1413, and the Nasdaq was adding 23 points, or 0.7%, at […]

News Preston Waters

Bank Of America, JPMorgan: Dow Midday Movers

U.S. stocks were rising in midday action Tuesday following a better-than-expected read on U.S. manufacturing activity.The Dow Jones Industrial Average was up more than 116 points, or 0.9%, at 13,330. The biggest percentage gainers within the Dow were Bank of America (BAC), JPMorgan Chase (JPM) and Intel (INTC). Shares of Bank of America rose 2.59% to $8.32. The bank said Tuesday it plans to lay […]

News Preston Waters

Monster Stocks Soar Amid Rumors Coca-Cola Is Set To Buy Energy Drink

Monster Beverage Corp’s shares soared on Monday following a report that Coca-Cola Co. was considering buying the energy drink maker. The Wall Street Journal cited unnamed people in reporting that the world’s biggest soft drink maker was in talks to buy Monster. If a deal transpired, Monster would be Coca-Cola’s largest brand acquisition ever. Monster declined […]

News Preston Waters

Stocks Surge After Strong Manufacturing Report

Stocks were surging in morning action Tuesday after a much better-than-expected report on the pace of national manufacturing activity in April.The Dow Jones Industrial Average was rising 80 points, or 0.6%, at 13,294. The S&P 500 was up 12 points, or 0.8%, at 1410, and the Nasdaq was adding 29 points, or 1%, at 3075. Stocks finished modestly lower Monday, marking […]

News Preston Waters

Bank Of America Keeps Shrinking

Bank of America (BAC)’s plan to lay off some of its highest-paid executives looks like the right response to the current banking environment. The Wall Street Journal reported Tuesday the bank will cut 2,000 positions in its investment banking, commercial banking and non-U.S. wealth-management units targeting “the high-earning employees whose efforts helped Merrill Lynch account for the bulk of […]

News Preston Waters

Stock Market Story: May 1

The first trading day of May got off to a mixed start early Tuesday with all three major U.S. equity indices honing to close to the flat line ahead of a key report on the pace of U.S. manufacturing activity in April. The Dow Jones Industrial Average was down 9.5 points, or 0.07%, at 13,204.The S&P 500 was up less than a […]

Also On Elite

Dating

13 Ways To Avoid Claiming Creeper Status Around The Ladies

After consulting my girlfriends over the years, I came to understand what not to do when it comes to hitting on girls. I would hear endless so-called “creeper” stories that were never dull, and as a guy, the last thing you want to do is be considered one of this kind because of one wrong […]

Dating

10 Real Differences Between Being In Love And Loving Someone

It took me a very long time to learn the difference between being in love with someone and actually loving that person. I learned the hard way, the very, very hard way. Hearts were broken repeatedly over the years, and although I wish the pain could have been avoided, the experiences taught me more than […]

World

A Man Was Charged With Felony For Allegedly Making A Joke About Ebola

A Cleveland man has been charged with a felony after allegedly joking to a casino dealer that his ex-wife had Ebola. According to Cleveland.com, 60-year-old Emmanuel Smith told a card dealer at Horseshoe Casino last Wednesday that he was at the casino to avoid his ex-wife, who had recently come back from West Africa. He […]

TV

Alfonso Ribeiro Pulled His Groin Doing The Carlton Dance On ‘DWTS’

Alfonso Ribeiro has been absolutely killing it on “Dancing with the Stars” this season. He’s the obvious celebrity standout and a clear frontrunner to win the whole competition. But, that kind of success comes with a price. And for Ribeiro, that price is a groin injury. Apparently, after winning the evening on Monday, Ribeiro dropped to […]

Entertainment

Guy Creates A Shot-For-Shot Remake Of Matthew McConaughey’s Lincoln Commercial

By now, you’ve probably seen those weird Lincoln commercials starring Matthew McConaughey. They’re everywhere, and I have no problem with this. But, in true McConaughey fashion, they make almost no sense. But it’s cool because, well, it’s McConaughey who’s doing the rambling. Some Southern guy who does a decent McConaughey impression decided to poke fun […]

Sports

Air Apparents: 6 NBA Stars Who Wear Michael Jordan’s Number 23

When basketball fans see #23, Michael Jordan is typically the first player that comes to mind. Considered by most to be the greatest to ever play the game, MJ is a six-time NBA champion and five-time league MVP, who notched 32,292 career points and thrived during crunch time. Nike’s Jordan brand has further made the […]