January 10, 2018 9:28 pm JST

Nikkei Asia300 Index falls as Samsung, SK Hynix extend losses

Rising global bond yields also damp investor appetite

MUMBAI (NewsRise) -- Asian stocks outside of Japan fell Wednesday, as South Korean chipmakers extended losses. Rising global bond yields also damped investor appetite.

The Nikkei Asia300 Index dropped 0.5% to 1,461.70. Heavyweight Samsung Electronics lost 3.1%, adding to Tuesday's more than 3% decline. The stock fell after the company's December quarter operating profit estimates lagged behind analysts' forecast. Rival SK Hynix declined 5.2%, also extending the previous day's losses.

On Wednesday, investors focused on rising bond yields in Europe, the U.S. and Japan. The borrowing costs hardened as Bank of Japan trimmed its purchase of long-dated securities in market operations. The move raised speculation that BOJ may later in the year join the U.S. Federal Reserve in winding down its asset buying program. The U.S. 10-year yield rose to its highest since March, and the 10-year Euro bond yields are hovering near their peak since late-October.

Energy-related stocks rallied Wednesday after the U.S. benchmark crude prices jumped to their highest in three-years. Hong Kong-listed shares of CNOOC, China Petroleum & Chemical (Sinopec), and PetroChina added 1.7%, 1.3%, and 0.7% respectively. South Korea's SK Innovation jumped 3.6%.

Chinese carmaker Great Wall Motor tumbled 6.1% after its sales in December dropped 17% from the year-earlier period. The carmaker said it aims to sell 1.16 million units this year, about 8% more than its 2017 sales.

Chow Tai Fook Jewellery Group climbed 1.4% after reporting a 12% growth in retail sales value in mainland China for the third quarter.

Taiwan's United Microelectronics dropped 3.7% after December sales fell 15%. Compal Electronics declined 0.7% after sales growth slowed to 4.3% in December from about 33% in the prior month. Asustek Computer added 0.6%, and Innolux Corp. rose 0.4% despite year-on-year declines in last month's sales.

Lenovo Group fell 1.5%. The personal-computer maker said it expects a one-off charge of $400 million on its deferred tax assets, which will be included in its earnings for the nine months ended Dec. 31. The charge is due to the `re-measurement' of its U.S. deferred tax assets following rule changes in that country, the company said in a statement.

In country indexes compiled by Nikkei, South Korea lost 1.5%, Taiwan dropped 1.2%, and India fell 0.5%. China and Hong Kong were little changed.

The Nikkei Asia300 ASEAN Index of Southeast Asian companies declined 0.2%.

--Nimesh Vora

Asia300

Samsung Electronics Co., Ltd.

South Korea

Market(Ticker): KRX(005930)
Sector:
Industry:
Electronic Technology
Telecommunications Equipment
Market cap(USD): 332,919M
Shares: 147.34M
Asia300

SK hynix, Inc.

South Korea

Market(Ticker): KRX(000660)
Sector:
Industry:
Electronic Technology
Semiconductors
Market cap(USD): 50,063.4M
Shares: 728.00M
Asia300

CNOOC Ltd.

Hong Kong

Market(Ticker): HKG(883)
Sector:
Industry:
Energy Minerals
Oil & Gas Production
Market cap(USD): 70,470.58M
Shares: 44,647.45M
Asia300

China Petroleum & Chemical Corp.

China

Market(Ticker): HKG(386)
Sector:
Industry:
Energy Minerals
Integrated Oil
Market cap(USD): 124,352.55M
Shares: 121,071.20M
Asia300

PetroChina Co., Ltd.

China

Market(Ticker): HKG(857)
Sector:
Industry:
Energy Minerals
Integrated Oil
Market cap(USD): 242,137.88M
Shares: 183,020.97M
Asia300

SK Innovation Co., Ltd.

South Korea

Market(Ticker): KRX(096770)
Sector:
Industry:
Energy Minerals
Oil & Gas Production
Market cap(USD): 16,872.6M
Shares: 92.46M
Asia300

Great Wall Motor Co., Ltd.

China

Market(Ticker): HKG(2333)
Sector:
Industry:
Consumer Durables
Motor Vehicles
Market cap(USD): 15,218.78M
Shares: 9,127.26M
Asia300

Chow Tai Fook Jewellery Group Ltd.

Hong Kong

Market(Ticker): HKG(1929)
Sector:
Industry:
Consumer Durables
Other Consumer Specialties
Market cap(USD): 10,539.57M
Shares: 10,000M
Asia300

United Microelectronics Corp.

Taiwan

Market(Ticker): TAI(2303)
Sector:
Industry:
Electronic Technology
Semiconductors
Market cap(USD): 6,010.04M
Shares: 12,624.31M
Asia300

Compal Electronics, Inc.

Taiwan

Market(Ticker): TAI(2324)
Sector:
Industry:
Electronic Technology
Computer Processing Hardware
Market cap(USD): 3,126.47M
Shares: 4,420.28M
Asia300

ASUSTek Computer, Inc.

Taiwan

Market(Ticker): TAI(2357)
Sector:
Industry:
Electronic Technology
Computer Processing Hardware
Market cap(USD): 7,147.87M
Shares: 742.76M
Asia300

Innolux Corp.

Taiwan

Market(Ticker): TAI(3481)
Sector:
Industry:
Electronic Technology
Electronic Components
Market cap(USD): 4,940.92M
Shares: 9,952.07M
Asia300

Lenovo Group Ltd.

Hong Kong

Market(Ticker): HKG(992)
Sector:
Industry:
Electronic Technology
Computer Processing Hardware
Market cap(USD): 6,976.99M
Shares: 12,014.79M

Get Insights on Asia In Your Inbox

To read the full story, Subscribe or Log in

Get your first month for $0.99

Redeemable only through the Subscribe button below

Once subscribed, you can…

  • Read all stories with unlimited access
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

Resubscribe now to continue reading.
BEST OFFER:
Only US$ 9.99 per month for a full-year subscription

To read the full story, Subscribe or Log in

Once subscribed, you can…

  • Read all stories with unlimited access
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.