Asian markets ended broadly lower Wednesday as Germany's decision to ban naked short-selling in certain financial instruments damped investor confidence.
Tokyo’s Nikkei 225 settled back 55.80 points, or 0.5%, to 10,186.84
In Hong Kong, the Hang Seng index slid 365.96 points, or 1.8%, to 19,578.98
Exporters who sell their wares in Europe as well as resource stocks ranked among the day's losers as the euro tumbled further against the U.S. dollar and Wall Street stocks fell sharply overnight.
In Tokyo, the weaker euro weighed on exporters, most of which have based their current earnings forecasts on the assumption that the euro would trade around 120 yen or higher.
Nikon Corp. and Canon Inc. declined 1.1% each. Among automakers, Toyota Motor shed 0.6% and Honda Motor fell 0.8%.
Mitsubishi UFJ Financial Group finished 0.7% higher after the banking giant Tuesday announced a return to profit in the fiscal year ended March, after hefty losses in the previous year.
South Korean and Taiwanese exporters were also lower, with technology plays hit particularly hard.
Samsung Electronics lost 2.4% in Seoul, while Taiwan Semiconductor Manufacturing Co. lost 0.3% and AU Optronics declined 1.9% in Taipei.
Bucking the general trend in Seoul, shares of auto parts maker Mando Corp. rose on their debut, to finish at 111,500 Korean won ($95.90 U.S.), compared with its initial public offering price of 83,000 won.
Among Hong Kong-listed companies with exposure to Europe, fashion company Esprit Holdings tumbled 5% and heavyweight HSBC Holdings dropped 1.7%.
SJM Holdings jumped 6.2% after the Macau casino operator Tuesday announced strong first-quarter earnings.
In Sydney, banks bore the brunt of the selling, while cyclical plays underperformed amid persistent worries about Europe.
Australia & New Zealand Banking Group fell 2.2% and Commonwealth Bank of Australia shed 2.4%.
Macarthur Coal slid a further 2.4%, after Tuesday's 16% drop, after it rejected a lowered 3.8 billion Australian dollar ($3.3 billion U.S.) takeover offer from Peabody Energy.
In foreign-exchange markets, the euro was down at 1.2169, compared with $1.2209 U.S. late Tuesday in New York. The single currency hit a fresh four-year low of $1.2143 U.S. in early Asian trade. The single currency was also buying 111.15 yen, compared with 112.75 yen in late New York trade. The dollar was at 91.90 yen, compared with 92.34 yen.
CHINA
Shares in China ended lower after a roller-coaster ride, as concerns about policy tightening continued to prey on banks and property stocks.
Shanghai’s CSI 300 fell 9.17 points, or 0.3%, to 2,762.17.
Bank of China shed 1.3% and Poly Real Estate Group sank 1.7%.
Elsewhere;
Singapore’s Straits Times Index lost 69.81 points, or 2.5%, to 2,774.54
Korea’s Kospi index retreated 13.16 points, or 0.8%, to 1,630.08
Taiwan’s Taiex index surrendered 26.14 points, or 0.3%, to 7,559.16
New Zealand’s NZX 50 Index dropped 29.80 points, or 1%, to 3,121.88
Australia’s S&P/ASX 200 gave back 83.60 points, or 1.9%, to 4,387.10
