Asian equities fell for a fourth day, with the regional benchmark index posting its longest losing streak since January, as the yen strengthened and the Bank of Japan refrained from adding to monetary stimulus.
Japan’s Nikkei 225 index gained 68.81 points, or 0.5%, to 14,075.25
The Hang Seng Index in Hong Kong acquired 130.18 points, or 0.6%, to 22,834.68
Raw-material suppliers retreated, with Fortescue Metals Group Ltd. losing 2.4% in Sydney after benchmark prices for iron-ore delivered to China’s Tianjin port dropped to the lowest since 2012. Mazda Motor Corp. fell 2.4% as the yen traded near its strongest level in more than three months.
Japan Petroleum Exploration Co. led energy suppliers higher, jumping 8%, after its stock rating was raised by SMBC Nikko Securities Inc.
Canon Inc., a camera maker that gets more than half of its sales outside Japan, retreated 1.3%
Japan posted a trade deficit of 808.9 billion yen ($8 billion U.S.) for April, data showed today. Economists surveyed by Bloomberg had predicted a 646.3-billion-yen shortfall. Exports gained 5.1% year on year, while imports increased 3.4%, both topping expectations.
The BOJ refrained from boosting stimulus as the economy shows signs of weathering the impact of the first sales-tax increase since 1997.
The central bank will continue to expand the monetary base at a pace of 60 trillion yen to 70 trillion yen per year, it said in a statement today in Tokyo, in line with forecasts of all 32 economists in a Bloomberg News survey.
In Australia, BHP Billiton Ltd. sank 0.8% and Rio Tinto Group declined 1.1%.
Treasury Wine Estates Ltd. climbed 5.6%. The world’s second-largest listed wine company rose a second day amid speculation the Melbourne-based maker of Penfolds Grange will attract higher offers after rejecting a takeover from KKR & Co.
Lenovo Group gained 3.4% in Hong Kong after the world’s largest maker of personal computers reported an increase in full-year profit.
Great Wall Motor Co. advanced 3.5% in Hong Kong. Shares of the sport-utility vehicles maker have risen since it said May 19 that it would set up a vehicle production base in Russia.
CHINA
Shanghai’s CSI 300 Composite eked up 0.48 points to 2,115.77, as speculation that state-linked investors are buying equities offset concern that the economy is slowing.
In other markets;
Taiwan’s Taiex Index slid 12.11 points, or 0.1%, to 8,887.79
Singapore’s Straits Times Index took on 3.04 points, or 0.1%, to 3,265.47
Korea’s Kospi index dipped 3.88 points, or 0.2%, to 2,011.26
New Zealand NZX 50 index fell 32.89 points, or 0.6%, to 5,134.89
Australia’s S&P/ASX 200 poked ahead 11.38 points, or 0.2%, to 5,420.35
