December 7, 2017 8:15 pm JST

Nikkei Asia300 Index little changed as tech firms gain, offsetting weak energy stocks

PetroChina, CNOOC, SK Innovation all drop after Brent crude eases

MUMBAI (NewsRise) -- Asian stocks outside of Japan ended little changed as a rebound in technology heavyweights offset a fall in energy producers after Brent crude prices dropped to their lowest in more than a month.

The Nikkei Asia300 Index ended almost unchanged at 1,354.36. H-shares of PetroChina dropped 1.3% and CNOOC slipped 0.8%, while South Korea's SK Innovation shed 2.6% and Malaysia's Sapura Energy slumped 20.3% after Brent crude lost more than 2.5% to hit its lowest level since early November. Sapura also swung to a third-quarter net loss as business activity slowed and certain rigs went off contract.

The losses in crude prices came despite risks of increasing tensions in the Middle East after U.S. President Donald Trump recognized Jerusalem as Israel's capital. Trump decided to move the U.S. embassy in Israel to Jerusalem from Tel Aviv, notwithstanding intense opposition from Arab and Muslim nations.

The S&P 500 Index ended little changed overnight, hovering near one-week lows. The higher closing on the tech-dominated Nasdaq Composite lifted Asian technology stocks. Hong Kong-listed WeChat app maker Tencent Holdings added 3.3%, and Samsung Electronics rose 1.4%.

Taiwan's United Microelectronics dropped 2.3% after the integrated circuit provider said it is being sued by U.S.-listed Micron technology over a trade secret infringement. United Microelectronics said it will appoint a legal counsel to protect its interest and goodwill.

HTC declined 2.4% after the Taiwanese smartphone manufacturer said November sales declined by 26%.

Korea Electric Power advanced 1%. The company was picked a preferred bidder for Toshiba's nuclear project in the U.K, Reuters reported.

India's Tata Motors climbed 1.4% after the company said sales volumes of its U.K. unit Jaguar Land Rover rose 10% last month.

Great Wall Motor's H-shares lost 1.8% after reporting a 1.5% increase in November auto sales, lower than the 3% in the prior month.

Malaysian pay-TV operator Astro Malaysia Holdings slipped 1.1% after reporting a decline of 3% in net profit for its third quarter, worse than market expectations.

Singapore Exchange edged higher by 0.1% after falling earlier in the day. The bourse operator late Wednesday reported a 3% decline in total securities market turnover for November.

In country indexes compiled by Nikkei, China added 0.7%, while South Korea declined 0.8%. Taiwan and Hong Kong dropped 0.3% each, and India added 1.1%.

The Nikkei Asia300 ASEAN Index of Southeast Asian companies lost 0.3%.

--Nimesh Vora

Asia300

CNOOC Ltd.

Hong Kong

Market(Ticker): HKG(883)
Sector:
Industry:
Energy Minerals
Oil & Gas Production
Market cap(USD): 63,482.25M
Shares: 44,647.45M
Asia300

PetroChina Co., Ltd.

China

Market(Ticker): HKG(857)
Sector:
Industry:
Energy Minerals
Integrated Oil
Market cap(USD): 210,778.29M
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): 17,294.37M
Shares: 92.46M
Asia300

Sapura Energy Bhd.

Malaysia

Market(Ticker): KLS(5218)
Sector:
Industry:
Industrial Services
Oilfield Services/Equipment
Market cap(USD): 1,187.72M
Shares: 5,992.15M
Asia300

Tencent Holdings Ltd.

China

Market(Ticker): HKG(700)
Sector:
Industry:
Technology Services
Internet Software/Services
Market cap(USD): 481,355.96M
Shares: 9,498.99M
Asia300

Samsung Electronics Co., Ltd.

South Korea

Market(Ticker): KRX(005930)
Sector:
Industry:
Electronic Technology
Telecommunications Equipment
Market cap(USD): 338,122.22M
Shares: 147.34M
Asia300

United Microelectronics Corp.

Taiwan

Market(Ticker): TAI(2303)
Sector:
Industry:
Electronic Technology
Semiconductors
Market cap(USD): 6,222.71M
Shares: 12,624.31M
Asia300

HTC Corp.

Taiwan

Market(Ticker): TAI(2498)
Sector:
Industry:
Electronic Technology
Telecommunications Equipment
Market cap(USD): 1,779.65M
Shares: 820.81M
Asia300

Korea Electric Power Corp.

South Korea

Market(Ticker): KRX(015760)
Sector:
Industry:
Utilities
Electric Utilities
Market cap(USD): 22,630.89M
Shares: 641.96M
Asia300

Tata Motors Ltd.

India

Market(Ticker): BOM(500570)
Sector:
Industry:
Consumer Durables
Motor Vehicles
Market cap(USD): 20,001.18M
Shares: 3,395.85M
Asia300

Great Wall Motor Co., Ltd.

China

Market(Ticker): HKG(2333)
Sector:
Industry:
Consumer Durables
Motor Vehicles
Market cap(USD): 14,410.73M
Shares: 9,127.26M
Asia300

Astro Malaysia Holdings Bhd.

Malaysia

Market(Ticker): KLS(6399)
Sector:
Industry:
Consumer Services
Broadcasting
Market cap(USD): 3,291.77M
Shares: 5,213.88M

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.