Investing.com – Asian stocks declined on Tuesday, led down by losses in the financial and property development sectors, while Japanese exporters slipped as the yen rose against the U.S. dollar.
Hong Kong's Hang Seng Index was down 1.23%, South Korea's Kospi Composite shed 0.26% and Japan’s Nikkei 225 Index fell 1.12%.
In Japan, many of the big name Japanese exporters led declines as the yen rose against the U.S. dollar, with shares in electronics giant Sony declining 1.1%, auto-makers Toyota Motor shedding 0.65% and Honda Motor stocks falling 0.76%.
However shares in Nissan Motor gained 1.40%, after the auto-maker said it planned to double its production capacity in China to 1.2 million units by 2012, as it aims for a 10% share of the world’s biggest auto market.
Elsewhere, shares in anti-virus software developer Trend Micro tumbled 3.26% amid renewed concerns over the euro zone's banking sector, after Moody's Investor Service's downgraded the unguaranteed senior debt of Anglo Irish bank on Monday. Trend Micro gets approximately 20% of its sales from Europe.
Meanwhile, shares in Takefuji Corparation, Japan’s third-largest consumer lender, plunged 32.16% on speculation it will file for bankruptcy protection later in the day.
In Hong Kong, financial sector stocks and property developers led declines, amid increased speculation that China will intensify measures to rein in property prices in the near future.
Shares in Bank of China Hong Kong shed 0.75% and HSBC Holdings HK fell 1.13%. Meanwhile, Hong Kong's biggest property developer Sun Hung Kai Properties tumbled 1.46%, while shares in rivals Cheung Kong Holdings declined 1.04%.
In Europe, equity markets opened lower. The EURO STOXX 50 was down 1.13%, France’s CAC 40 fell 1.23%, the FTSE 100 declined 1.05% and Germany's DAX shed 0.93%.
Earlier in the day, the market research group Gfk said its index of Germany's consumer climate rose more-than-expected in September, climbing to its highest level since October 2007.
Hong Kong's Hang Seng Index was down 1.23%, South Korea's Kospi Composite shed 0.26% and Japan’s Nikkei 225 Index fell 1.12%.
In Japan, many of the big name Japanese exporters led declines as the yen rose against the U.S. dollar, with shares in electronics giant Sony declining 1.1%, auto-makers Toyota Motor shedding 0.65% and Honda Motor stocks falling 0.76%.
However shares in Nissan Motor gained 1.40%, after the auto-maker said it planned to double its production capacity in China to 1.2 million units by 2012, as it aims for a 10% share of the world’s biggest auto market.
Elsewhere, shares in anti-virus software developer Trend Micro tumbled 3.26% amid renewed concerns over the euro zone's banking sector, after Moody's Investor Service's downgraded the unguaranteed senior debt of Anglo Irish bank on Monday. Trend Micro gets approximately 20% of its sales from Europe.
Meanwhile, shares in Takefuji Corparation, Japan’s third-largest consumer lender, plunged 32.16% on speculation it will file for bankruptcy protection later in the day.
In Hong Kong, financial sector stocks and property developers led declines, amid increased speculation that China will intensify measures to rein in property prices in the near future.
Shares in Bank of China Hong Kong shed 0.75% and HSBC Holdings HK fell 1.13%. Meanwhile, Hong Kong's biggest property developer Sun Hung Kai Properties tumbled 1.46%, while shares in rivals Cheung Kong Holdings declined 1.04%.
In Europe, equity markets opened lower. The EURO STOXX 50 was down 1.13%, France’s CAC 40 fell 1.23%, the FTSE 100 declined 1.05% and Germany's DAX shed 0.93%.
Earlier in the day, the market research group Gfk said its index of Germany's consumer climate rose more-than-expected in September, climbing to its highest level since October 2007.