Asian stocks slumped as financial companies planned to sell up to $8.8 billion U.S. in shares and concern grew that Japanese manufacturing will slow.
Japan's Nikkei 225 index faded 93.92 points, or 1%, to 9,783.47.
In Hong Kong, the Hang Seng Index slid 71.75 points, or 0.4% to 18,528.51.
Daiwa Securities Group Inc., Japan’s number-two brokerage, tumbled 12% after saying it plans to raise about $2.5 billion U.S. in a share sale. Mizuho Financial Group Inc., Japan’s third-largest bank by value, lost 3.4% after people familiar with the matter said it may sell shares as early as this week.
Daewoo Engineering & Construction Co. soared 7% after its parent put forward a plan to sell as much as 72% of the company.
Pepinnini Materials Ltd. soared as much as 24% in Sydney after announcing it found gold mineralization in rock samples from the state of Queensland. Kweichow Moutai Co. jumped 7.8% in Shanghai on speculation the spirits maker will increase prices.
Nomura Holdings Inc., Japan’s largest brokerage, retreated 4.2%. Mitsubishi UFJ Financial Group Inc., the country’s biggest lender by value, lost 2.8%.
GS Yuasa Corp., which makes lithium batteries for Mitsubishi Motors Corp., plunged 11% after Goldman Sachs Group Inc. initiated coverage on the company with a "sell" rating, citing the stock’s high valuations.
CHINA
Kweichow Moutai soared 7.8% in Shanghai. Rival Shanxi Xinghuacun Fen Wine Factory Co. raised the price of its 10-year-old Fenjiu liquor by 10% starting on June 26, it said in a statement to Shanghai’s stock exchange over the weekend. Shanxi Xinghuacun is suspended from trading today because of a shareholder meeting. It gained 6% on June 26.
Cnooc Ltd., China’s number-one offshore oil producer, lost 2.3% in Hong Kong on lower crude prices.
Elsewhere:
China’s Shanghai Composite Index advanced 51.55 points, 1.7% to 3,179.97
Singapore’s Straits Times Index inched downward 0.78 points, or 0.03%, to 2,317.17
South Korea’s Kospi index lost 6.08 points, or 0.4%, to 1,388.45
Taiwan’s Taiex subsided 72.41 points, or 1.1%, to 6,391.15
New Zealand’s NZX 50 Index tacked on 4.50 points, or 0.2%, to 2,775.12
Australia’s S&P/ASX 200 let go of 16.90 points, or 0.4%, to 3,886.90
