Japanese and Australian shares fell while Hong Kong stocks ended flat after a choppy trading session Thursday, as an unexpected increase in Chinese inflation rate and uncertainty over Greek debt negotiations kept investor sentiment subdued.
In Japan, the Nikkei 225 Index shed 13.35 points, or 0.2%, to 9,002.24
In Hong Kong, the Hang Seng Index shaved off 8.45 points, or 1.5%, to 21,010
Several mainland banks dropped in Hong Kong after Chinese inflation data marked a setback to expectations Beijing may loosen its monetary policy in the near term.
Bank of Communications Co. fell 2.5%, Agricultural Bank of China Ltd. dropped 0.8% and Industrial & Commercial Bank of China Ltd. gave up 0.9%. In Shanghai, BoCom fell 1% and AgBank dropped 0.7%, while Bank of Nanjing Co. declined 1%.
Lenovo Group Ltd. climbed 3.8% in Hong Kong after reporting a 54% growth in quarter net profit.
Mining and metals stocks extended early losses in Australia after the data. BHP Billiton Ltd. lost 1.6% and Fortescue Metals Group Ltd. fell 0.7%.
Japanese industrial firms were among the weaker performers in Tokyo on Thursday after December core machinery orders -- seen as a leading indicator of capital spending -- fell a larger-than-expected 7.1% from the year-ago period.
Hitachi Construction Machinery Co. retreated 1.4%, and Komatsu Ltd. dropped 0.7%.
News Corp. gained 0.9% in Sydney after reporting its fiscal second-quarter profit rose 65% on increased earnings at cable-television networks and film and television studios.
CHINA
On the mainland, investors considered the implications of the Chinese consumer price index (CPI) data.
The Shanghai CSI 300 eked ahead 0.99 points to 2,529.23
The release showed the nation’s consumer price index rose 4.5% in January from a year earlier, a pace well above economists’ median forecast for a 4.1% rise, as food prices jumped on seasonal demand during the Chinese New Year holiday.
Lending support to the markets, many Chinese property developers continued to rise after the People’s Bank of China recently pledged support to first-time home buyers.
China Resources Land Ltd. jumped 5.7% and Evergrande Real Estate Group Ltd. soared 7.4% in Hong Kong; on mainland bourses, Poly Real Estate Group Co. added 1.3% in Shanghai, while China Vanke Co. gained 1.5% in Shenzhen.
In other markets;
Taiwan’s Taiex Index gained 40.87 points, or 0.5%, to 7,910.78
Korea’s Kospi Index added 10.89 points, or 0.5%, to 2,014.62
Singapore’s Straits Times Index lost 1.03 points to 2,981.17
New Zealand’s NZX 50 Index took on 2.07 points to 3,326.74
Australia’s S&P/ASX 200 Index settled 7.83 points, or 0.2%, to 4,282.87
