Asian stocks fell Friday, with Japan's Nikkei Average shedding 274 points as blue chips Sony Corp. and Mitsui Fudosan Co. declined amid concerns interest rates around the world are heading higher.
In Tokyo, Nikkei 225 index ended 1.5% lower, declining 274.29 points to 17,773.09 while in Hong Kong, the blue chip Hang Seng Index retreated 1.5% at 20,464.05.
Mitsui Fudosan Co. Ltd., Japan's largest property firm, led declines among property shares amid concerns a possible increase in Japanese interest rates could impact earnings. Shares of Mitsui Fudosan ended 5% lower while Mitsubishi Estate Co. was down 4.5%.
Japanese construction and industrial equipment makers were broadly lower after government data showed Japan's core machinery orders rose 2.2% in April from the preceding month, below economists' expectations for a 4.5% increase.
Shares of Fanuc Ltd., a maker of industrial robots, fell 1.6%, while construction equipment maker Komatsu was down 3.1%.
Elsewhere:
SINGAPORE: Singapore's Straits Times Index eased 1.1%.
WELLINGTON: New Zealand's NZX-50 fell 1.2%.
SYDNEY: Australia's S&P/ASX 200 was down 1.5% at 6,215.2, pressured by weakness among interest-rate-sensitive shares and a pullback in miners such as Rio Tinto after industrial metal's prices declined in London trading.
With files from wire services
