Nikkei:10,592.04 (+48.52) Hang Seng:23,553.59 (–355.37) Shanghai Comp:2,798.96 (+8.26)
ASIA STOCKS slipped for the first time in five sessions yesterday, as Hong Kong had its worst start to the Chinese new year since 2008 but Tokyo hit a nine-month high on strong earnings.
Hang Lung Properties, a Hong Kong-based developer, slid 3.2 per cent to HK$33.45 after the city’s home sales declined last month.
China Resources Land, a state-controlled developer, fell 2.1 per cent to HK$13.98.
Sino Land, a Hong Kong developer controlled by billionaire Robert Ng, sank 2.8 per cent to HK$14.88 and Sun Hung Kai, the city’s biggest developer, fell 1.9 per cent to HK$130.20.
Oil companies were the other big fallers after the price of crude tumbled.
CNOOC, China’s largest offshore oil producer, slipped 2.9 per cent to HK$17.26.
A weaker yen boosted exporter stocks. Toyota, the world’s largest carmaker, rose 0.9 per cent to ¥3,490 on the eve of its earnings report.
Credit Saison, a consumer lender, climbed 8.7 per cent to ¥1,594 while Ebara, a pump maker, surged 14 per cent to ¥450. – (Copyright The Financial Times Limited 2011)
