Nikkei: 10,605.65 (–12.18) Hang Seng: 22,828.92 (+120.30) Shanghai Comp: 2,827.77 (+9.60)ASIAN STOCKS dropped sending the regional gauge yesterday to its worst weekly performance since May, amid lingering concern that China will further tighten monetary policy.
China Resources Land, a state-linked developer, decreased 1.1 per cent in Hong Kong after a newspaper reported new home sales in Shanghai had dropped.
Hana Financial, South Korea’s fourth-largest financial company, fell 5.7 per cent after announcing a share sale to fund the purchase of the Korea Exchange Bank.
Rio Tinto, the world’s third-biggest mining company, lost 1.6 per cent to A$87.28.
The company said second-half profit tripled to $8.5 billion from $2.4 billion a year earlier. That missed the $8.6 billion average estimate of 12 analysts surveyed by Bloomberg.
Newcrest Mining, Australia’s biggest gold producer, fell 1.4 per cent to A$37.16.
Optronics, Taiwan’s second-largest maker of liquid-crystal displays, fell 2.6 per cent to NT$26.3.
CapitaLand, which receives 26 per cent of its sales from China, dropped 1.5 per cent to S$3.34 in Singapore. – (Bloomberg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)