Asian stocks drifted lower Wednesday, led by losses in South Korean and Japanese markets as investors sold Sony Corp. and other export-related shares after declines in U.S. housing sales and consumer-confidence.
In Tokyo, the benchmark Nikkei 225 index fell 215.61 points, or 1.24 percent, to 17,236.16 while in Hong Kong, the blue chip Hang Seng Index fell 36.02 points, or 0.2 percent, to close at 20,536.78.
Losers included Honda Motor Co., which fell 1.97 percent to 3,990 yen (US$33.81). After the market closed, the automaker reported a 20 percent drop in profit for the January-March quarter despite solid sales that helped mark its seventh straight fiscal year of record sales.
Among technology issues, Tokyo Electron Ltd. dropped 2.08 percent to 8,460 yen (US$71.69). Takeda Pharmaceutical Co. posted a 1.65 percent fall to 7,760 yen (US$65.76).
Elsewhere:
BANGKOK: Thailand's shares rose, led by gains in energy stocks on hopes of healthy first-quarter earnings. The Stock Exchange of Thailand's benchmark SET Index gained 4.82 points, or 0.7 percent, to close at 690.30.
JAKARTA: Indonesian shares ended up slightly with gains in car distributor Astra and coal miner Bukit Asam kept index in positive territory. The Jakarta Stock Exchange Composite index closed 5.101 points or 0.3 percent higher to 1,986.671 in a moderate trade.
KUALA LUMPUR: Malaysia's stock index was lower on profit-taking in the absence of fresh leads. The Kuala Lumpur Composite Index of 100 blue chips dipped 1.53 points, or 0.12 percent, to 1,315.97.
MANILA: Philippine shares advanced, tracking a rise on Wall Street, as investors appeared to shrug off concerns over the sudden resignation of the national treasurer. The benchmark 30-company Philippine Stock Exchange Index gained 17.50 points, or 0.5 percent, to 3,309.43.
MUMBAI: India's shares rose for the fourth straight session, led by pre-earnings buying in Reliance Industries and banks ahead of corporate earnings announcements for the January-March period. The Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, added 81.05 points, or 0.57 percent, to 14,217.77.
SEOUL: South Korean shares fell, snapping three straight sessions of record highs as shipbuilders declined. The Korea Composite Stock Price Index, or Kospi, fell 11.16 points, or 0.7 percent, to 1,545.55.
SINGAPORE: Singapore shares closed slightly lower as investors waited for quarterly earnings of major blue chips before taking new positions, traders said. The benchmark Straits Times Index fell 11.84 points, or 0.35 percent, to 3362.68.
TAIPEI: Taiwan shares fell in line with poor performances in neighboring Asian markets. The Weighted Price Index of the Taiwan Stock Exchange dropped 60.36 points, or 0.8 percent, to close at 7,984.65.
Financial markets in Australia and New Zealand were closed Wednesday for the Anzac Day public holiday.
With files from wire services
