Nikkei:9,492.21 (-62.83) Hang Seng:22,949.56 (-304.28) Shanghai Comp:2,728.23 (+23.05)
ASIAN STOCKS fell for a second day, driving the regional benchmark index to its longest string of weekly losses since the collapse of Lehman Brothers Holdings, amid signs economic recovery in the US is faltering.
Toyota, the world’s biggest automaker that gets 28 per cent of sales from North America, lost 1.2 per cent in Tokyo. Toyota slipped 1.2 per cent to ¥3,230 in Tokyo.
LG Electronics, a South Korean electronics maker, dropped 1.2 per cent after saying there would not be a turnaround for its mobile phone business in the second quarter.
Hang Lung Properties led Hong Kong developers lower after home sales in the city dropped for a fifth month in May.
Japan’s Nikkei 225 Stock Average decreased 0.7 per cent, erasing an earlier advance of as much as 0.5 per cent. Hong Kong’s Hang Seng Index sank 1.3 per cent and China’s Shanghai Composite Index rose 0.8 per cent.
"Investors are going to be on hold today, waiting for the jobs report," said Juichi Wako, a senior strategist at Tokyo- based Nomura Holdings. – (Bloomberg)
