Most Asian markets declined Thursday as sentiment took hits from falling commodity prices and weak U.S. corporate results, with some technology stocks dropping after a sharp fall in Apple Inc. shares.
In Japan, the Nikkei 225 index doffed 162.82 points, or 1.2%, to 13,220.07, shedding all the gains made the day before.
Hong Kong’s Hang Seng Index dropped 57.15 points, or 0.3%, to 21,512.52.
Shares of China Overseas Land & Investment Ltd. climbed 1.6%, and China Resources Land Ltd. gained 2.3% in Hong Kong.
Several exporters and companies with a global exposure were pulled lower, with industrial-automation major Fanuc Corp. losing 2.3%, and camera maker Nikon Corp. shedding 2.1% in Tokyo.
Shares of Prada S.p.A. dropped 1.5% in Hong Kong, and Hyundai Motor Co. shrank 2.1% in Seoul.
Resource stocks came under renewed selling pressure as crude-oil and metals lost further ground.
Heavyweight miner BHP Billiton Ltd. tumbled 4.4% in Sydney, as gold miner Zijin Mining Group Co. lost 1.8% in Hong Kong and 0.6% in Shanghai. Steel maker Posco gave up 1.4% in Seoul.
Some shares of technology firms in Apple’s supply-chain suffered broad losses after stock in the iPhone maker dropped below $400 U.S. overnight, following An unpromising revenue outlook from the company’s chips supplier, Cirrus Logic Inc.
LG Display Co. lost 4.8% in Seoul, and Hon Hai Precision Industry Co. retreated 1.3% in Taipei, while mobile service provider Softbank Corp. lost 1.6% in Tokyo
CHINA
Data released earlier in the day showed foreign direct investment flows into China rose to $12.4 billion in March, rising 5.7% from the year-ago period.
The Shanghai CSI 300 recovered 6.38 points, or 0.3%, to 2,464.85, after a choppy session in which the benchmark changed direction a few times amid a generally weak tone in regional markets.
Property shares advanced in the wake of figures showing that new-home prices climbed in 68 of 70 top Chinese cities surveyed in March from levels seen in February, despite recent measures to further tighten policies on the property sector.
China Vanke Co. rose 0.4% in Shenzhen.
In other markets;
In Korea, the Kospi Index slipped 23.78 points, or 1.2%, to 1,900.06
In Taiwan, the Taiex Index deducted 17.72 points, or 0.2%, to 7,791.35
The Singapore Straits Times Index regained 4.91 points, or 0.2%, to 3,296.37
In New Zealand, the NZX 50 fell back 36.16 points, or 0.8%, to 4,442.10
Australia’s ASX 200 let go of 80.14 points, or 1.6%, to 4,924.42
