Asian markets ended lower Thursday, with Japan losing early gains as the yen turned higher, while separate readings on China’s manufacturing sector pointed to a weakening in the world’s second-largest economy.
In Japan, the Nikkei 225 Index fell back 15.87 points, or 0.2%, to close at 9,707.37
In Hong Kong, the Hang Seng Index receded 292.12 points, or 1.4%, to 21,387.96
Losses for many real-estate shares weighed in Hong Kong: China Resources Land Ltd. fell 6.7%, Agile Property Holdings Ltd. lost 5.7%, and Guangzhou R&F Properties Co. dropped 8.1%.
Property firms were also dragging in Japan, with Tokyu Land Corp. down 3.8% and Tokyo Tatemono Co. sagging 4.2%.
The Japanese yen strengthened during the day, with the dollar falling back below the ¥81-level, prompting some blue-chip exporters’ earlier gains to melt away.
Among the larger movers, Mazda Motor Corp., dropped 3%, while Sharp Corp gave up 3.2%.
However, shares in Softbank Corp. added 2% after Kyodo News reported the firm’s mobile-carrier unit won key spectrum which will allow it to better compete against larger rivals NTT DoCoMo Inc. and KDDI Corp. NTT DoCoMo stock added 0.5%, while KDDI rose 1.2%
Over in Australia, miners dragged on the market after commodity prices weakened overnight.
BHP Billiton Ltd. traded down 1.5%, while Rio Tinto Ltd. gave up 1.8%, and Fortescue Metals Group Ltd. shed 0.7%.
Gold miner Newcrest Mining Ltd. lost 2.8% after a steep drop for gold futures in New York on Wednesday.
Reporting season neared a close in Australia, with a first-half result from grocery major Woolworths Ltd.
Woolworths’ shares ended almost flat after profit dropped 17% on restructuring costs and sale of its Dick Smith electronics stores, but came in broadly in line with market expectations.
CHINA
Meanwhile, a pair of key Chinese manufacturing surveys -- one from a government-backed group and another from HSBC -- offered a split decision on the sector.
The Shanghai CSI 300 slipped 0.80 points to 2,633.34
The official China manufacturing Purchasing Managers’ Index rose to 51.0, indicating mild expansion and showing "things are a little more stable," according to Yip.
However, HSBC’s subsequent PMI release printed at 49.6, just below the 50 mark that separates overall growth from contraction, but underling data in survey showed surging input prices and deteriorating new orders, suggesting further weakening in the nation’s economy
In other markets;
Markets in Korea had the day off
The Taiex index in Taiwan fell 3.10 points to 8,118.34
Singapore’s Straits Times Index dipped 15.22 points, or 0.5%, to 2,978.84
New Zealand’s NZX 50 Index moved up 8.33 points, or 0.3%, to 3,330.85
Australia’s S&P/ASX 200 Index shed 43 points, or 1%, to 4,255.55
