Most Asian markets fell Wednesday as lingering worries about China’s economic growth pressured commodity and exporter stocks, with Japanese shares declining for the first time in six trading days.
In Japan, the Nikkei 225 Index returned from holiday to slice off 55.50 points, or 0.6%, to 10,086.50
In Hong Kong, the Hang Seng Index docked 31.61 points, or 0.2%, to 20,856.60
Losses in Asia extended from the previous day, when sentiment was hurt in part by a BHP Billiton Ltd. executive’s remarks that Chinese demand for iron ore in particular was "flattening out."
In Australia, where the local economy is especially sensitive to demand for its mineral wealth from key trading partner China, BHP closed 1.7% lower. Among other resource stocks, Rio Tinto Ltd. gave up 0.4% and Newcrest Mining Ltd. shed 1.9%.
An Australian agency said Wednesday that the nation’s mineral and energy exports will rise at a slower pace of 4.6% over the next financial year, compared to an estimated 11% expansion in the current fiscal ending June 30.
Shares of David Jones Ltd. plunged 11% after the department store reported a drop in first-half earnings and warned full-year profit could slump by as much as 40%.
Elsewhere in the region, Inpex Corp. fell 2.4% and Nippon Steel Corp. lost 2.1% in Tokyo, Posco gave up 2.3% in Seoul, and PetroChina Co. slid 0.2% in Hong Kong and 1.1% in Shanghai.
Many regional exporters also skidded on weaker Chinese demand outlook and the overnight drop on Wall Street.
Sony Corp. tumbled 4.5% and Toyota Motor Corp. gave up 1.5% in Tokyo, Samsung Electronics Co. shed 2% in Seoul, Lenovo Group Ltd. declined 0.8% in Hong Kong and Acer Inc. slid 1.2% in Taipei.
Nissan Motor Co. dropped 2.9% after the car maker announced spending plans, including the resurrection of its Datsun brand after three decades.
Losses for property firms dragged on Hong Kong stocks. Sun Hung Kai Properties Ltd. dropped 1.7% -- extending losses from the previous session after the reported arrest of one of its executives on allegations of bribery -- and China Resources Land Ltd. fell 2.1%.
On the upside, Belle International Holdings Ltd. added 4.7% after the footwear company reported a 24% increase in 2011 profits.
In other markets;
The Shanghai CSI 300 gained back 3.35 points, or 0.1%, to 2,587.79
Korea’s Kospi Index fell 14.92 points, or 0.7%, to 2,027.23
The Taiex index in Taiwan added 9.24 points, or 0.1%, to 7,981.94
Singapore’s Straits Times Index gained 2.90 points, or 0.1%, to 3,005.63
New Zealand’s NZX 50 Index scaled back 5.06 points, or 0.1%, to 3,481.96
Australia’s S&P/ASX 200 Index tacked on 20.77 points, or 0.5%, to 4,254.25
