Asian-Pacific benchmarks closed largely in the red with tech shares in the spotlight after positive earnings news from electronics giant Matsushita and resumed post-holiday trading in tech-heavy Taiwan. Taiwan’s Weighted index surged 0.96%, shrugging off U.S. markets losses. The most notable decliner was South Korea’s Kospi ending deeply down 3%. The Japanese Nikkei lost 0.3% hurt by weak major consumer electronics shares, following recent gains.

European stocks rebounded from early gains to close in the negative on U.S. payrolls data which raised concerns of further interest rate increases and disappointing earnings from Volvo Group. The German DAX 30 slipped 0.3%, the French CAC 40 fell 0.3%, and London’s FTSE 100 lost 0.1%.

OIL, METALS, CURRENCIES

Crude oil advanced as market kept watch over IAEA which was to decide whether to refer Iran to the UN Security Council over its nuclear program. Light sweet crude for March delivery gained 69 cents to $65.37 a barrel. Heating oil edged up a cent to $1.7816 a gallon, while gasoline inched up to $1.67. Natural gas gained nearly 2 cents to $8.613 per 1,000 cubic feet. London Brent rose 14 cents to $63.02.

European gold traded lower. In London gold traded at the fixed price of $569 bid per troy ounce, down from $572.15. In Zurich the precious metal traded at $568.50, down from $572.80. In Hong Kong gold rose 95 cents to close at $572.90. Silver closed at $9.74, down from $9.83. In New York gold declined $5.10 to $567.40 per ounce.

The U.S. dollar gained ground against other major currencies. The euro was quoted at $1.2022, down from $1.2098. The dollar bought 118.86 yen, up from $118.50. The British pound stood at $1.7627, down from $1.7804.

EARNINGS NEWS

Ryder System Inc, (R: chart), vehicle fleet management company, reported Q4 net income of 92 cents a share, down from 96 cents a share in the year-ago period. Income from continuing operations amounted to 93 cents a share, a penny down from the analyst estimate. Sales for the company grew 13%.

Weyerhaeuser Co, (WY: chart), wood, paper and packaging company, reported a Q4 loss of 86 cents a share, swinging from a net income 82 cents a share a year-ago. After adjusting for items, the company earned 98 cents a share, topping analyst estimate of 74 cents a share.

THQ Inc, (THQI: chart), video game publisher, reported a Q3 profit of 72 cents a share, down from $1.05 a share a year-ago on revenue decline, topping analyst estimate of 65 cents a share.

Moody's Corp, (MCO: chart), credit ratings, research and risk analysis provider, reported Q4 net income of 50 cents a share, up about 22% from 40 cents a share in the year-earlier period on 21% revenue growth, beating analyst estimate for earnings of 46 cents a share.

Carbo Ceramics Inc, (CRR: chart), provider of equipment and services for natural-gas and oil wells, reported Q4 net income of 43 cents a share, down from 45 cents in the same period the previous year. Revenue grew to $63.6 million from $62.2 million while Q4 operating profit dropped to $15.8 million from $16.6 million. Analyst forecast earnings of 48 cents a share.

Maytag Corp, (MYG: chart), home and commercial appliances manufacturer, reported a Q4 net loss of 93 cents a share, down from a net loss of 18 cents a share in the year-earlier period despite 6.6% sales growth, missing analysts’ expectations of a loss of 13 cents a share. Q4 results were affected by restructuring charges in connection with the closing of the Florence, S.C., plant, a non-cash asset impairment charge related to a laundry product line and a goodwill impairment charge involving a commercial cooking business were recorded in Q4

B/E Aerospace Inc., (BEAV: chart), aircraft cabin products maker, reversed to a Q4 profit of 96 cents a share, benefiting from a $52 million tax benefit. If not for the tax benefit and one-item items, it would have earned 18 cents a share, while sales rose 18% to $223 million.

Volvo Group, (VOLVY: chart), truck maker, reported that Q4 net income dropped 15% to 7.37 kronor a share while sales grew 15%. The company announced that operating margin in Q4 fell to 6.5% from 8.2% last year on account of extensive product launches. Volvo stated its income was affected by a 430 million kronor capital gain from the sale of Celero and 550 million kronor write down of its holdings in Blue Bird.