Stocks in Japan and China slipped Thursday as investors assessed the latest read on Chinese manufacturing activity.
In Tokyo, the Nikkei 225 gave back 56.81 points, or 0.4%, to 15,138.98
In Hong Kong, the Hang Seng index dipped 70.79 points, or 0.3%, to 23,333.18.
Stocks in Japan have suffered most, losing more than 6% on the Nikkei month-to-date. But the Hang Seng Index in Hong Kong has pulled ahead as one of the best performers in the region with a gain of 1.8% this month. Australia’s S&P ASX 200, too, has gained 1.7% in October.
The U.S. dollar was at ¥107.21 when the market in Japan closed, a touch higher from ¥107.15 late Wednesday in New York.
In Tokyo, auto air-bag maker Takata Corp. lost 6.2% following news that U.S. federal prosecutors are investigating the firm in connection with defective air bags linked to two deaths.
Mitsubishi Motors fell 2.6% after the firm reported a 23% rise in first-half consolidated operating profit that missed expectations. The auto maker blamed higher costs.
In Hong Kong, China CNR shares hit a record high after the firm reached a $556.6-million U.S. deal to build 284 new cars for the Boston subway. The shares rose as much as 4% before paring gains, finishing up 3.2%.
CNR’s deal came as a statement from finance ministers attending this week’s Asia-Pacific Economic Cooperation summit urged support across the region for greater investment in infrastructure, principally via public-private partnership.
CHINA
Shanghai’s CSI 300 index faded 22.71 points, or 0.9%, to 2,395.94. HSBC’s preliminary report on Chinese manufacturing activity came in at 50.4 in October, compared with 50.2 in September.
Still, reaction in the region was relatively muted given investors’ expectation of slowdown signs from China. Earlier in the week, data showed China’s economy grew at 7.3% in the third quarter compared with a year earlier, a slower pace from the second quarter but a touch faster than expected.
In other markets;
Singapore’s Straits Times Index returned from holiday to gain 33.76 points, or 1.1%, to 3,236.50
The Taiex index in Taiwan dipped 17.76 points, or 0.2%, to 8,731.07
Korea’s Kospi index moved down 5.32 points, or 0.3%, to 1,931.65
In New Zealand, the NZX 50 picked up 13.13 points, or 0.3%, to 5,292.83
Australia’s S&P/ASX 200 fell 2.83 points, or 0.1%, to 5,383.14
