By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) ? Asia stocks traded mostly lower Monday, with Chinese data giving investors mixed signals about the health of the economy there, and Europe?s debt troubles also weighing on sentiment.
Hong Kong?s Hang Seng Index /quotes/zigman/2622475 HK:HSI -0.07% ?lost 0.3%, while the Shanghai Composite Index /quotes/zigman/1859015 CN:000001 -0.53% ?declined 0.5%.
South Korea?s Kospi /quotes/zigman/1652118 KR:SEU -0.60% ?fell 0.3%, and Australia?s /quotes/zigman/1653884 AU:XJO -0.06% /quotes/zigman/1653884 AU:XJO -0.06% traded down 0.1%.Japan?s Nikkei Stock Average /quotes/zigman/5986735 JP:100000018 +0.44% ?traded flat.
Data out Monday showed that Chinese consumer prices rose 1.9% year in September, in line with economist expectations, while producer prices dropped a sharper-than-forecast 3.6%. Read: China September consumer prices rise
?Inflation data continue to point to slack demand, with industrial prices contracting at a rapid pace. There?s no argument about it, the economy is yet to stabilize,? said Alistair Thornton, senior China economist at IHS Global Insight.
The inflation numbers were the latest in a busy few days for Chinese economic data. Over the weekend, China?s trade surplus for September and money-supply data exceeded economist expectations, although September?s new bank lending was below consensus expectations. GDP is due Thursday. Read commentary: China?s economy seeks solid ground.
?Chinese data flow in recent days does not signal risk-on or -off to us ? that will need to be sought elsewhere. Our attention remains firmly on Thursday?s third-quarter GDP report,? said Annette Beacher, strategist at TD Securities, pointing to a consensus expectation of 7.4% for quarterly gross-domestic-product growth.
Metal firms were among the worst performers in Shanghai on Monday, with Aluminum Corp. of China Ltd. /quotes/zigman/1875337 CN:601600 -1.38% ?down 1.4% and Jiangxi Copper Co. /quotes/zigman/1867813 CN:600362 -1.63% ?losing 1.5%.
In Hong Kong, Aluminum Corp. /quotes/zigman/5308 HK:2600 +0.30% ? /quotes/zigman/294208/quotes/nls/ach ACH +3.38% ?added 0.6%, while Jiangxi Copper?s H-shares /quotes/zigman/16454 HK:358 +0.52% ? /quotes/zigman/332900/quotes/nls/jixay JIXAY +0.01% ?were flat.
Corporate updates took several companies sharply lower in China, with ZTE Corp. /quotes/zigman/1864087 CN:000063 -5.69% ? /quotes/zigman/32341 HK:763 -14.99% ?falling 14.8% in Hong Kong and 10% lower in Shezhen after the firm forecast a third-quarter net loss, in part due to delays for some of its international projects.
Belle International Holdings Ltd. /quotes/zigman/527909/quotes/nls/belly BELLY -0.89% ? /quotes/zigman/38836 HK:1880 -3.55% , dropped 3.7% in Hong Kong after reporting same-store sales growth for its women?s footwear business slowed to 2.8% year-on-year in the third quarter.
Meanwhile, ?lack of progress in the euro zone towards a bailout in Spain and the distribution of Greece?s next loan tranche will once again restrain any positive tone to markets, leaving most asset markets within ranges,? said Credit Agricole strategists.
Investors pour into Asian bonds
Foreign investors are rushing to buy up Asian corporate bonds, which, in some cases, are yielding as much as 8%.
Wall Street had closed mostly lower Friday, as worries over Europe offset a rise in U.S. consumer confidence to its highest level in five years. Read: U.S. stocks end worst week in four months
Third-quarter earnings didn?t help, with Wells Fargo & Co. /quotes/zigman/239557/quotes/nls/wfc WFC -2.64% and J.P. Morgan Chase & Co. /quotes/zigman/272085/quotes/nls/jpm JPM -1.14% ?both closing out Friday?s session on Wall Street with notable losses after updating on profits.
Financials tracked those losses lower in Tokyo on Monday, with Nomura Holdings Inc. /quotes/zigman/196701 JP:8604 0.00% /quotes/zigman/296367/quotes/nls/nmr NMR -0.58% ?down 1.5% and Citigroup Inc.?s /quotes/zigman/5065548/quotes/nls/c C -2.17% ? /quotes/zigman/5079120 JP:8710 -1.81% ?Japanese-listed shares down 2.5%
Sony Corp. /quotes/zigman/197500 JP:6758 +0.44% ? /quotes/zigman/197524/quotes/nls/sne SNE -0.70% ?fell 1.1% after Moody?s downgraded the firm?s credit rating Friday with a negative outlook, citing challenging conditions for the firm?s television unit.
/quotes/zigman/2622475
HK : HangSeng Ind
Volume: 0.00
Oct. 15, 2012 1:07p
/quotes/zigman/1859015 CN : China: Shanghai
Volume: 30.58M
Oct. 15, 2012 1:07p
/quotes/zigman/1652118 KR : South Korea
Volume: 469.40M
Oct. 15, 2012 2:02p
/quotes/zigman/1653884 AU : Australia: Sydney
Volume: 0.00
Oct. 15, 2012 4:00p
/quotes/zigman/1653884 AU : Australia: Sydney
Volume: 0.00
Oct. 15, 2012 4:00p
/quotes/zigman/5986735 JP : Nikkei Idx
Volume: 0.00
Oct. 15, 2012 2:02p
/quotes/zigman/1875337 CN : China: Shanghai
Volume: 4.64M
Oct. 15, 2012 1:07p
Market Cap?59.32 billion
/quotes/zigman/1867813 CN : China: Shanghai
Volume: 2.92M
Oct. 15, 2012 1:06p
Market Cap?67.48 billion
/quotes/zigman/5308 HK : Hong Kong
Volume: 6.21M
Oct. 15, 2012 1:05p
Market CapHK$73.37 billion
Rev. per EmployeeHK$1.83M
/quotes/zigman/294208/quotes/nls/ach US : U.S.: NYSE
Volume: 175,781
Oct. 12, 2012 4:04p
Rev. per Employee$234,393
/quotes/zigman/16454 HK : Hong Kong
Volume: 2.07M
Oct. 15, 2012 1:06p
Market CapHK$83.46 billion
Rev. per EmployeeHK$6.79M
/quotes/zigman/332900/quotes/nls/jixay US : U.S.: OTCBB
Volume: 1,200
Oct. 12, 2012 3:15p
Rev. per Employee$869,696
/quotes/zigman/1864087 CN : China: Shenzhen
Volume: 7.41M
Oct. 15, 2012 1:06p
Market Cap?35.89 billion
/quotes/zigman/32341 HK : Hong Kong
Volume: 42.43M
Oct. 15, 2012 1:07p
Market CapHK$44.39 billion
Rev. per EmployeeHK$1.25M
/quotes/zigman/527909/quotes/nls/belly US : U.S.: OTCBB
Volume: 4,024
Oct. 12, 2012 3:45p
/quotes/zigman/38836 HK : Hong Kong
Volume: 11.09M
Oct. 15, 2012 1:07p
Market CapHK$118.92 billion
Rev. per EmployeeHK$368,666
/quotes/zigman/239557/quotes/nls/wfc US : U.S.: NYSE
Volume: 61.32M
Oct. 12, 2012 4:00p
Market Cap$180.99 billion
Rev. per Employee$342,093
/quotes/zigman/272085/quotes/nls/jpm US : U.S.: NYSE
Volume: 44.57M
Oct. 12, 2012 4:01p
Market Cap$158.11 billion
Rev. per Employee$401,657
/quotes/zigman/196701 JP : Japan: Tokyo
Volume: 20.53M
Oct. 15, 2012 2:01p
Market Cap?1020.62 billion
Rev. per Employee?53.46M
/quotes/zigman/296367/quotes/nls/nmr US : U.S.: NYSE
Volume: 76,356
Oct. 12, 2012 4:05p
Rev. per Employee$775,809
/quotes/zigman/5065548/quotes/nls/c US : U.S.: NYSE
Volume: 42.56M
Oct. 12, 2012 4:00p
Market Cap$101.91 billion
Rev. per Employee$376,056
/quotes/zigman/5079120 JP : Japan: Tokyo
? 2,720.00
-50.00 -1.81%
Volume: 1,141
Oct. 15, 2012 1:35p
Market Cap?7985.05 billion
Rev. per Employee?29.55M
/quotes/zigman/197500 JP : Japan: Tokyo
Volume: 7.56M
Oct. 15, 2012 2:02p
Market Cap?912.21 billion
Rev. per Employee?40.03M
/quotes/zigman/197524/quotes/nls/sne US : U.S.: NYSE
Volume: 1.08M
Oct. 12, 2012 4:01p
Rev. per Employee$511,067
Source: http://www.marketwatch.com/news/story.asp?guid=%7B828DC012-164B-11E2-A50C-002128049AD6%7D&siteid=rss
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