Most Asian stocks fell after the Bank of Japan’s expansion of its asset-purchase program failed to allay concern economic growth in the world’s third-largest economy is waning. Hurricane Sandy forced U.S. markets to shut for a second day.
Japan’s Nikkei 225 Index docked 87.36 points, or 1%, to 8,841.98, after the central bank expanded its asset-purchase fund by 11 trillion yen to 66 trillion yen. All but one of 27 economists expected the central bank to add to its asset- purchase program.
In Hong Kong, the Hang Seng index fell 82.47 points, or 0.4%, to 21,428.58
Toyota Motor Corp. lost 0.5%, reversing earlier gains, after the central bank’s announcement. BYD Co., the Chinese automaker partially owned by Warren Buffett’s Berkshire Hathaway Inc., tumbled 4.1% after saying profit may fall as much as 98% this year.
Sharp Corp. surged 6.2% in Tokyo on a report the maker of liquid-crystal displays is in partnership talks with Apple Inc. and Google Inc. The 100-year-old company is struggling for survival after a record loss last year.
Japanese exporters dropped after the yen strengthened against all of its major peers following the BOJ’s policy decision. Toyota Motor retreated 0.5%, while Sony Corp. slid 1.3%
In Hong Kong, BYD slid 4.1% after the maker of cars and batteries said net income may drop to as little as 27.7 million yuan ($4.4 million U.S.) in the year through December. A slowing economy damped demand for its solar-energy products and customers, including Nokia Oyj, ordered fewer lithium-ion batteries to power mobile
In other markets
The Shanghai CSI 300 Composite Index eked ahead 4.03 points, or 0.2%, to 2,239.88
In Singapore, the Straits Times Index advanced 9.12 points, or 0.3%, to 3,038.73
Korea’s Kospi index gathered 8.06 points, or 0.4%, to 1,899.58
Taiwan’s Taiex Index grew 90.92 points, or 1.3%, to 7,182.59
The NZX 50 Index fell 10.01 points, or 0.3%, to 3,941.28
Australia’s ASX Index added 8.83 points, or 0.2%, to 4,485.69
