Nikkei:9,514.44 (+47.29) Hang Seng:22,420.37 (–189.46) Shanghai Comp:2,706.18 (+2.83)
ASIAN STOCKS dropped yesterday on concern the region’s central banks will keep raising interest rates to tame inflation even amid signs the global economic recovery may be faltering.
Lotte Shopping, South Korea’s biggest department-store owner, slipped 1.5 per cent after the nation’s central bank raised interest rates for the third time this year.
SAIC Motor, a Chinese automaker, dropped 1.7 per cent after passenger car sales fell for the first time in two years.
Hyundai Motor, South Korea’s biggest car maker, slipped 1.6 per cent to 223,000 won.
Samsung Electronics, the world’s largest maker of televisions and flat-screen display panels by sales, lost 1.6 per cent to 851,000 won.
Jiangling Motors, a Chinese commercial vehicle partner with Ford Motor, slumped 0.6 per cent to ¥18.74.
Guangzhou Automobile, a partner of Honda Motor, slid 2.2 per cent to HK$8.05 in Hong Kong.
Hang Lung, a real-estate company, sank 2.3 per cent to HK$30.15. – (Bloomberg)
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