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Asia stocks: Latest quotesExternal Link

LOS ANGELES (MarketWatch) -- Here are the latest trading levels for Asia's major stock markets: Tokyo (Nikkei Average ) down 0.1% ; Hong Kong (Hang Seng Index ) flat (at break) ; Shanghai (Shanghai Composite Index ) down 0.9% (at break) ; Sydney (S&P/ASX 200 ) down 0.7% ; Seoul (Kospi ) up 0.1% ; Mumbai (Sensex ) up 0.1% ; Taipei (Taiex ) down 0.2%

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 03 Mar 2015 04:21:18 GMT
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Hong Kong stocks seesaw as China's legislature opensExternal Link

HONG KONG (MarketWatch) -- Hong Kong stocks swung between small gains and losses Tuesday morning, following a previous advance triggered by the Chinese central bank's interest-rate cut over the weekend, as investors cautiously awaited key policy announcements from the annual meeting of the nation's top legislative and consultative bodies. The Hang Seng Index was flat about half an hour into trade, while the Shanghai Composite Index declined 1.4%. Chinese banks and property shares retreated broadly, as China Minsheng Banking Corp. dropped 1.8%, China Merchants Bank Co. shed 1.1%, Bank of Communications Co. lost 0.9%, and Bank of China Ltd. fell 0.7%. Leading property developers China Vanke Co. and Poly Property Group Co. retreated 1.6% each, and Hang Seng Index components China Overseas Land & Investment Ltd. and China Resources Land Ltd. dropped 0.6% and 0.5%, respectively. However, Macau gaming shares bounced back after recent heavy losses, as MGM China Holdings Ltd. jumped 2.6%, Sands China Ltd. climbed 2.1%, Galaxy Entertainment Group Ltd. advanced 2%, Wynn Macau Ltd. rose 1.9%, and Melco Crown Entertainment Ltd. added 0.9%. Oil stocks were broadly weak on the back of falling international crude prices: PetroChina Co. gave up 1.5%, Cnooc Ltd. pulled back 1.1%, and China Petroleum & Chemical Corp. (Sinopec) moved 0.6% lower. Infrastructure plays also declined, with China Railway Construction Corp. down 2.2%, and China Communications Construction Co. off 0.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 03 Mar 2015 02:26:44 GMT
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Japan stocks edge higher; Sharp plunges on fundraising reportExternal Link

LOS ANGELES (MarketWatch) -- Japanese stocks bopped modestly higher in early Tuesday trade, with a weaker yen helping some tech names, but with Sharp Corp. plunging on a report it will seek financial help from its two main creditors. The Nikkei Stock Average rose 0.2%, off its opening high but still enough to double its 0.2% advance on Monday. The broader Topix also added 0.2%. With the dollar back above ¥120 (buying ¥120.15 vs. ¥119.96 at the previous close), some of the tech exporters floated higher, including Olympus Corp. (up 1.3%), Fuji Electric Co. (up 1%), Japan Display Inc. (up 1.9%), and Trend Micro Inc. (up 1.4%). But those gains were offset in part by a 8.3% drop for Sharp, as the Nikkei reported the company was seeking a $1.24 billion debt-for-equity swap as it prepares for a restructuring, "including closing four plants and exiting or selling its money-losing solar-panel business." Some of the other top tech names swung to negative territory after Sharp opened for trade, with Hitachi Ltd. off 0.1%, and Sony Corp. down 0.8% despite a 0.7% overnight gain for its U.S.-listed shares. Among other movers, NTT DoCoMo Inc. rose 1.4% -- the only major telecom to trade higher Tuesday morning -- amid news it would be conducting a test of 5G wireless service with Nokia Corp. , according to Dow Jones. Chugai Pharmaceutical Co. rose 2.2% after it and U.S.-based Athersys Inc. announced a partnership to market an ischemic stroke treatment in Japan.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 03 Mar 2015 00:40:54 GMT
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Australia stocks rise, with banks up ahead of RBA decisionExternal Link

LOS ANGELES (MarketWatch) -- Australian stocks rolled higher in early Tuesday trading, as the S&P/ASX 200 added 0.5% ahead of a closely watched policy decision from the central bank due later in the day. Despite uncertainty over the outcome of the Reserve Bank of Australia meet -- IG said the markets had priced in a 56% chance that the RBA would trim rates for the second time in a row, cutting a quarter point to a record-low 2%, according to Dow Jones Newswires -- banking shares were doing fine: Australia & New Zealand Banking Group and Commonwealth Bank of Australia rose 1% apiece, while Westpac Banking Corp. gained 1.8%, and among the regional names, Bendigo & Adelaide Bank Ltd. improved by 0.8% and Bank of Queensland Ltd. added 1%. On the downside, gold miners traded significantly softer after losses for the yellow metal, with Evolution Mining Ltd. down 2.9%, St. Barbara Ltd. down 3.6%, and Kingsgate Consolidated Ltd. plunging 11.5% after Macquarie cut its target price on the shares by 10%. But stock in Oz Minerals Ltd. moved the other way, as the company enjoyed a 10% hike to its target price by Goldman Sachs. Meanwhile, shopping-mall developer Scentre Group climbed 2.4% as Deutsche Bank included the name among its top picks, with a buy rating.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 02 Mar 2015 23:44:25 GMT
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Nabors shares down after Q4 loss, revenue missExternal Link

SAN FRANCISCO (MarketWatch) -- Nabors Industries Ltd. said late Monday it lost $891 million in the fourth quarter, or $3.08 a share, compared with earnings of 50 cents a share a year ago. Adjusted for one-time items, the oil-field services company earned 33 cents a share in the quarter. Revenue hit $1.78 billion in the quarter, Nabors said. Analysts polled by FactSet had expected adjusted earnings of 39 cents a share on sales of $1.81 billion in the quarter. Nabors is taking "numerous actions" to lower costs, including significantly scaling back the pace of its U.S. rig construction, it said. The company "will make further adjustments based on the outcome of ongoing discussions regarding additional rig awards," Nabors said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 02 Mar 2015 22:16:28 GMT
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