Japanese stocks ended lower while Australian and Hong Kong shares pared early gains on Wednesday as lingering uncertainty over the timing of a bailout for Spain and downbeat data from China turned investors cautious.
The Nikkei 225 Index backpedaled 39.18 points, or 0.5%, to 8,746.87
In Hong Kong, the Hang Seng Index returned from holiday to put on 47.90 points, or 0.2%, to 20,888.28
Markets in Shanghai and Seoul had the day off
Economic indicators in Asia also failed to encourage investors. Data released Wednesday showed China’s non-manufacturing Purchasing Managers’ Index fell to 53.7 in September from 56.3 in August, and that Chinese consumer sentiment weakened in September for a third month.
Notable decliners in Hong Kong included high-end jewelry store operators, with Luk Fook Holdings International Ltd. tumbling 6%, and Chow Tai Fook Jewellery Group Ltd. falling 3.1%.
Dongfeng Motor Group Co., which has a joint venture with Nissan Motor Co., dropped 4.5%. Guangzhou Automobile Group Co., which has ventures with Toyota Motor Corp. and Honda Motor Co., lost 3.3%.
Japanese auto makers also turned lower, giving up a morning advance following strong U.S. sales data for September.
Shares of Honda fell 1.1%, losing early gains posted in the wake of a 31% increase in U.S. sales. Toyota, which reported a 42% increase in monthly U.S. sales, ended up 0.4%, after rising about 1.9% earlier in the day.
Last year’s sales for both firms were hurt by vehicle shortages resulting from the March 2011 earthquake and tsunami in Japan.
But Nissan, which wasn’t as hurt by the 2011 disaster, reported that its U.S. sales declined 1.1% from the year-ago period. Its shares ended 2.1% lower.
Japanese drug company Daiichi Sankyo Co. fell 5.4%, after the firm and its U.S. partner ArQule Inc. said they will discontinue a late-stage study for a drug to treat lung cancer.
In other markets
The Singapore Straits Times Index erased two points to 3,077.14
Taiwan’s Taiex Index dipped 34.05 points, or 0.4%, to 7,684.03
New Zealand’s NZX index added 18.35 points, or 0.5%, to 3,889.60
Australia’s ASX Index picked up 5.58 points, or 0.1%, to 4,438.56, a 14-month high
