Asian shares mostly declined on Thursday after China’s inflation data for December raised some doubts about the pace at which Beijing will likely ease its monetary policy.
In Japan, the Nikkei 225 Index gave up 62.29 points, or 0.7%, to 8,385.59
In Hong Kong, the Hang Seng Index subtracted 56.56 points, or 0.3%, to 19,095.40
Sharp Corp. declined 2.3% in Tokyo.
Also dragging on sentiment, data out Thursday showed that Japan’s current-account surplus fell by a greater-than-expected 85.5% in November, as exports dropped amid slowing global demand and energy imports increased.
In the Japanese financial sector, shares of Nomura Holdings Inc. dropped 3.5%, while Mitsubishi UFJ Financial Group Inc. lost 0.9%. In Hong Kong, HSBC Holdings PLC fell 1.2%.
In Sydney, shares of QBE Insurance Group Ltd. tumbled 12.7% after the insurer said that it expects its 2011 net profit to fall between 40% and 50% from 2010 levels. Record level of catastrophe claims and unrealized losses from difficult investment markets were behind the downgrade, QBE said.
Ranking among the gainers, shares in the Australian building materials sector advanced after U.S. home builder Lennar reported a rise in fourth-quarter revenue.
James Hardie Industries SE rose 2%, and Boral Ltd. gained 1.3%
Shares of several companies in the solar power sector jumped amid hopes for an improving demand outlook.
Shares of GCL-Poly Energy Holdings Ltd. surged 14.2% in Hong Kong, shares of Shanghai Chaori Solar Energy Science & Technology Co. climbed 4.3% in Shenzhen
CHINA
The broad regional losses came after official data from Beijing showed Chinese consumer prices rose 4.1% in December from the year-earlier period. That was slightly ahead of a 4.0% gain tipped by a Dow Jones Newswires survey of analysts, and below November’s 4.2% rise.
In Shanghai, the CSI 300 Index dropped 0.39 points to 2,435.22
Coal and oil shares turned lower, with Yanzhou Coal Mining Co. shedding 1%, Cnooc Ltd. losing 2.3% and China Petroleum & Chemical Corp. -- also known as Sinopec -- dropping 1.3% in Hong Kong. In Shanghai, Yanzhou shed 1.3% and Sinopec fell 0.5%.
Shares of Shanghai Chaori Solar Energy Science & Technology Co. climbed 4.3%
In other markets;
Taiwan’s Taiex Index sliced off 1.63 points to 7,186.58
Korea’s Kospi Index increased 19.02 points, or 1%, to 1,864.57
Singapore’s Straits Times Index shed 3.47 points, or 0.1%, to 2,743.66
New Zealand’s NZX 50 Index slid 16.70 points, or 0.5%, to 3,219.83
Australia’s S&P/ASX 200 Index retreated 6.52 points, or 0.2%, to 4,181
