Several Asian markets finished lower Wednesday, with Japanese shares sharply down as investors cut positions in blue chips such as Toyota Motor Corp. ahead of parliamentary elections later this month.
In Tokyo, Nikkei 225 index fell 201.69 points, or 1.11 percent, on the Tokyo Stock Exchange, to 18,015.58 points while in Hong Kong, the blue chip Hang Seng Index lost 215.38 points, or 0.9 percent, to 22,841.92.
Tokyo Electric Power Co. fell on worries that the shutdown of its nuclear power plant in north-central Japan following Monday's earthquake in that region may affect its earnings.
Reports that the company, commonly known as TEPCO, failed to report the full extent of the radiation leak from the quake-damaged nuclear plant also weighed on the share price, which dropped 1.47 percent to 2,685 yen (US$22.01).
Losers also included Tokyo Electron Ltd., which fell 1 percent to 8,930 yen (US$73.20) and Kyocera Corp., which shed 1.34 percent to 13,210 yen (US$108.28).
Chemical shares also moved lower, with Shin-Etsu Chemical Co. losing 1.82 percent to 9,190 yen (US$75.33).
ELSEWHERE:
MANILA: Philippine shares advanced marginally Wednesday as investors bought Philippine Long Distance Telephone Co. and other heavyweights. The benchmark 30-company Philippine Stock Exchange Index rose 5.12 points, or 0.1 percent, at 3,734.80, after losing 1.5 percent over the last two days.
SEOUL: South Korea's Kospi ended 1% lower at 1,930.70, as trading resumed in Seoul after a national holiday.
SHANGHAI: China shares rose Wednesday, but gains were tempered by concerns over possible economic tightening measures. The benchmark Shanghai Composite Index rose 0.9 percent by 33.87 points to 3,930.06, the 11th time in as many sessions that it settled below the 60-day moving average, which was 3,956.49 as of Wednesday's close.
WELLINGTON: New Zealand's NZX 50 index slipped 0.1% to 4,255.64.
SYDNEY: Australia's S&P/ASX 200 fell 0.8% to 6,329.10.
With files from wire services
