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Asia stocks end lower as financials drop; Nikkei down 0.07%

Published 09/16/2010, 03:53 AM
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Investing.com – Asian stocks ended lower on Thursday, as the yen advanced against the U.S. dollar amid renewed intervention threats by Japan.

Hong Kong's Hang Seng Index was down 0.55%; South Korea's Kospi Composite shed 0.66%; while Japan’s Nikkei 225 Index slipped 0.07%.

In Tokyo, financial shares fell back from Wednesday's highs amid profit taking, with shares in Mitsubishi Financial Group shedding 1.41%, while shares in Sumitomo Mitsui Financial Group fell 1.45%.

The Nikkei's losses were limited by gains in the technology and auto sectors. Shares in electronics giant Sony gained 1.73% while auto-makers Nissan surged 3.80% and Honda Motors advanced 2.47%

Elsewhere, miners retreated as metal prices fell with shares in BHP Billiton, the world's largest miners tumbling 1.75% on Australian's benchmark S&P/ASX 200 index.

In Hong Kong, shares in the China Construction Bank, China's biggest lender, fell 1.19% amid concerns that China could introduce tougher banking regulations. Meanwhile, shares in the Bank of Communications fell 1.05%.

In Europe, equity markets opened broadly higher. The EURO STOXX 50 was up 0.09%, France’s CAC 40 rose 0.11%, the FTSE 100 slid 0.02% and Germany's DAX gained 0.12%.

Later in the day the U.S. was to release official data on initial jobless claims and producer price inflation.

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