Most Asian markets fell Thursday as skepticism the European Central Bank will announce bold measures to ease the region’s debt troubles turned investors cautious a day after the Federal Reserve also refrained from further monetary stimulus.
In Japan, the Nikkei 225 Index inched up 11.33 points, or 0.1%, to 8,653.18
The Hang Seng Index in Hong Kong gave back 130.18 points, or 0.7%, to 19,690.20
In Hong Kong, China Resources Land Ltd. tumbled 4.6% and China Overseas Land & Investment Ltd. gave up 3.4%.
Chinese financial stocks also weakened in Hong Kong, with China Life Insurance Co. dropping 1.6% and Industrial & Commercial Bank of China Ltd. losing 0.9%.
Japanese shares were propped up by some upbeat sales and earnings reports.
Shares of Toyota Motor Corp. climbed 1.3% as news of strong monthly U.S. sales outweighed its recall of 778,000 vehicles. A 16% increase in Nissan Motor Co.’s U.S. sales helped lift the stock 2.3%.
Many other Japanese auto makers also gained ground, as Mitsubishi Motors Corp. rose 1.4%, and Mazda Motor Corp. climbed 2.2%.
Kyocera Corp. jumped 5.1% after its quarterly results.
Mitsui Fudosan Co. added 1.3% after the real-estate firm posted a jump in first-quarter profit.
Sony Corp. and Sharp Corp. — both of which were due to post their earnings after the market close — rose 2.4% and 0.8%, respectively.
Energy stocks underpinned the advance in Sydney after an increase in crude-oil prices overnight. Woodside Petroleum Ltd. and Origin Energy Ltd. rose 2% each.
Shares of Consolidated Media Holdings Ltd. added 0.3% after Australian regulators cleared the way for a takeover by News Corp. Shares of News Corp.inched up 0.2%.
CHINA
Chinese stocks retreated on a sharp decline in property developers, with investors also shrugging off a regulator’s repeated appeal for companies to buy back their own shares. Japanese stocks ended marginally higher as some automobile majors advanced on upbeat U.S. sales and a few strong earnings reports.
Shanghai’s CSI 300 index shaved off 23.77 points, or 1%, to 2,334.88
The drop for mainland stocks although an official at the China Securities Regulatory Commission reportedly asked companies again to buy back their shares — the second time for such an appeal this week by the regulator.
Chinese property-developer shares traded sharply lower, after data a day earlier showing a rise in housing prices sparked concerns about future government curbs for the sector.
Poly Real Estate Group Co. Ltd. plunged 9.2% and Gemdale Corp sank 6.4% in Shanghai, while China Vanke Co. skidded 6.8% in Shenzhen.
In other markets
Markets in Taiwan had the day off
Korea’s Kospi Index slipped 10.53 points, or 0.6%, to 1,869.40
Singapore's Straits Times Index slumped 14.89 points, or 0.5%, to 3,036.19
New Zealand’s NZX index added 33.46 points, or 1%, to 3,564.11
Australia’s ASX Index recovered 6.78 points, or 0.2%, to 4,269.54
