Most Asia markets fell Friday amid renewed concerns about global growth, with losses for banks and property firms pushing Hong Kong into the red, while a stronger yen weighed on Japanese exporters.
In Japan, the Nikkei 225 Index slumped 115.61 points, or 1.1%, to close the week at 10,011.50
In Hong Kong, the Hang Seng Index swooned 232.36 points, or 1.1%, to 20,668.80
For the week, Hong Kong was trading down 3%, Japan was 1.2% lower, while South Korea was 0.4% weaker.
Losses for banks dragged Hong Kong lower.
Shares in Agricultural Bank of China Ltd. slumped 3.1% after its 29% profit growth for the previous year failed to meet analysts’ expectations.
The results helped weigh on other major mainland Chinese banks, as Hong Kong-listed shares of Industrial & Commercial Bank of China Ltd. fell 2%, and Bank of Communications Co. gave up 1.9%.
Hong Kong-listed property firms also lost ground, with Agile Property Holdings Ltd. falling 0.2%, and Sun Hung Kai Properties Ltd. extending recent weakness with a 2.4% drop.
Apple Inc. supplier Foxconn International Holdings Ltd. reversed early gains made in reaction to the firm’s swing to a 2011 profit to finish 3.5% lower.
But export and logistics major Li & Fung Ltd. outperformed, with a jump of 4.2%, after posting a 24% profit increase for last year and issuing an upbeat outlook.
In Japan, exporters lost ground amid a stronger yen and the poor European data. The greenback weakened sharply against the Japanese yen overnight, to change hands at ¥82.66 in Asian trade.
Sony Corp. slumped 3.1%, Panasonic Corp. dropped 2.4%, and Toshiba Corp. lost 2.7%.
Likewise, Nissan Motor Corp. fell 2.6% and Toyota Motor Corp. moved 2% lower.
Exporters were also under pressure in Seoul, as LG Display Co. gave up 1.5%, and LG Electronics Inc. traded down 1.9%.
But gains for the key shipbuilding sector helped push the index higher. Hyundai Heavy Industries Inc. climbed 1.8%, and Daewoo Shipbuilding & Marine Engineering Co. added 0.9%
In Sydney, resource firms led the declines. Index heavyweight BHP Billiton Ltd. dropped 1.2%, while rival Rio Tinto Ltd. gave up 1.5%, and iron-ore producer Fortescue Metals Group Ltd. surrendered 1.3%.
On the upside for Australian equities, Premier Investments Ltd.— owner of the Just Jeans and Dotti retail chains — jumped 4.9% after posting a 38.5-million-Australian-dollar ($40.1 million U.S.) first-half net profit.
In other markets;
The Shanghai CSI 300 docked 30.81 points, or 1.2%, to 2,552.94
Korea’s Kospi Index inched forward 0.71 points to 2,026.83
The Taiex index in Taiwan added 16.67 points, or 0.2%, to 8,076.61
Singapore’s Straits Times Index gained 10.83 points, or 0.4%, to 2,990.08
New Zealand’s NZX 50 Index dropped 25.35 points, or 0.7%, to 3,449.30
Australia’s S&P/ASX 200 Index slid 3.29 points, or 0.1%, to 4,270.39
