Most Asian markets fell Tuesday after data showing Chinese manufacturing activity expanded at a slower rate in April, with Shanghai-listed stocks hit particularly hard, although Australian shares climbed on the back of banks and energy producers.
In Japan, the Nikkei 225 index dropped 38.72 points, or 0.3%, to 13,529.65
Hong Kong’s Hang Seng Index slid 237.76 points, or 1.1%, to 21,086.61
Commodity producers suffered selling in Hong Kong, where shares of Aluminum Corp. of China Ltd. lost 1.7% and PetroChina Co. fell 1.2%, while ports operator Cosco Pacific Ltd. dropped 3%.
Heavyweight stock China Mobile Ltd. retreated 0.9% after reporting its first-quarter net profit barely grew amid stiff competition.
The gains in Sydney were aided by the energy sector, with major oil producer Woodside Petroleum Ltd. jumping 9.7% after announcing a special dividend. Among its sector peers, shares of Santos Ltd. climbed 3%, while Linc Energy Ltd. added 5.1%.
Financials were also higher in Sydney following a positive lead from Wall Street, helped by further buying in high-dividend stocks. Australia & New Zealand Banking Group added 2.4%, and Westpac Banking Corp. gained 1.3%.
The big miners dropped, however, in reaction to the Chinese data. Shares of BHP Billiton Ltd. lost 1.1%, Rio Tinto Ltd. fell 2.3% and Fortescue Metals Group Ltd. dropped 1.3%.
Newcrest Mining Ltd. declined 3.3% after saying it’s reviewing all business activities in the wake of the drop in gold prices.
Shares of Virgin Australia Holdings Ltd. climbed 4.6% after local regulators okayed the airline’s plan to buy a majority stake in low-cost carrier Tiger Airways Australia.
Over in Tokyo, banks gave up some of their strong recent gains, with Mitsubishi UFJ Financial Group Inc. losing 1.5% and Mizuho Financial Group Inc. shedding 1.8%.
Fuji Heavy Industries Ltd., the maker of Subaru vehicles, rose 0.5% after the Nikkei newspaper said it plans to invest 30 billion yen ($302.1 million U.S.) for expansion in the U.S.
ANA Holdings Inc. added 1% after the Nikkei newspaper reported that the parent company of All Nippon Airways Co. was likely to report a 10% increase in annual group operating profit.
CHINA
The Shanghai CSI 300 scaled back 81.20 points, or 3.2%, to 2,449.47
The decline came after a preliminary version of HSBC’s manufacturing Purchasing Managers’ Index slipped to a two-month low of 50.5 in April,, compared with a final reading of 51.6 in March.
Shares of property- and construction-related firms took a tumble on Chinese bourses after the HSBC PMI data release, with Anhui Conch Cement Co. shedding 5.9%, real-estate major Gemdale Corp. skidding 4.9%, and Chongqing Iron & Steel Co. falling 4.8%.
Property giant China Vanke Co. lost 3.5% in Shenzhen trading despite posting a 16% rise in first-quarter net profit.
In other markets;
In Korea, the Kospi Index dipped 7.68 points, or 0.4%, to 1,918.63
In Taiwan, the Taiex Index stepped back 27.61 points, or 0.4%, to 7,942.77
The Singapore Straits Times Index fell 24.57 points, or 0.7%, to 3,284.35
In New Zealand, the NZX 50 gained 32.84 points, or 0.7%, to 4,516.50
Australia’s ASX 200 added 49.68 points, or 1%, to 5,016.23
