Most Asian markets fell Tuesday, with early gains for Japanese stocks slipping away after the Bank of Japan decided against further policy loosening, while Hong Kong and Australian shares dropped in their first response to weak global economic data.
In Japan, the Nikkei 225 Index edged downward 8.24 points, or 0.1%, to 9,538.02, the sixth straight down session, as the yen appreciated after the Bank of Japan left its policy interest rate and the size of its asset purchases unchanged.
Hong Kong’s Hang Seng Index returned from holiday to slide 236.46 points, or 1.2%, to 20,356.20
The losses followed weak cues from Wall Street Monday, when U.S. stocks hit their worst levels in a month, as investors returning from a long weekend got their first chance to react to Friday’s disappointing jobs report
In Hong Kong, property and financial stocks were among the worst performers as trading resumed after the long weekend.
China Resources Land Ltd. was off 2.1%, while Shimao Property Holdings Ltd. shed 2.7%. Among financials, Ping An Insurance Group Co. lost 1.7% and China Life Insurance Co. dropped 2.4%.
Many resource-sector stocks in the region ended lower on a sharp recent sell-off in commodities, and concerns about demand from China after the March trade data.
In Sydney, Fortescue Metals Group Ltd. lost 1.4%, while Rio Tinto Ltd. gave up 0.7%.
Energy firms were also pushed back. Cnooc Ltd. dropped 1.8% and PetroChina Co. shed 1.3% in Hong Kong, while Inpex Corp. gave up 0.8% in Tokyo.
Shares in Woodside Petroleum Ltd. fell 1.4% in Sydney after the energy firm said it would delay a final investment decision for a proposed 40 billion Australian dollar ($41.2 billion U.S.) liquefied natural-gas hub by at least six months.
CHINA
Data released Tuesday by the General Administration of Customs showed the country unexpectedly swung to a trade surplus of $5.35 billion U.S. in March, from a deficit a month earlier. Exports growth beat economists’ estimates, while imports increased at a slower pace
Shanghai’s CSI 300 Composite Index regained 24.64 points, or 1%, to 2,519.79
Property developers were among the big gainers on mainland bourses, with Gemdale Corp. rising 4.4% and Poly Real Estate Group Co. climbing 3.3% in Shanghai, while China Vanke Co. climbed 2.4% in Shenzhen.
In other markets;
In Taiwan, the Taiex Index gained 39.81 points, or 0.5%, to 7,640.68
Korea’s Kospi Index sifted off 2.67 points, or 0.1%, to 1,994.41
Singapore’s Straits Times Index gained back 22.34 points, or 0.8%, to 2,982.44
New Zealand’s NZX 50 Index gained 7.12 points, or 0.2%, to 3,475.10
Australia’s S&P/ASX 200 Index subtracted 27.58 points, or 0.6%, to 4,292.26
