Asian stock markets traded mostly lower Thursday, as investors in the region took U.S. Federal Reserve minutes that showed the central bank’s policy makers are still considering winding down stimulus in the coming months as a cause for concern.
Decelerating manufacturing activity in China weighed on Shanghai shares, while a weaker yen boosted equities in Japan.
The Nikkei Average rose 1.6% on the back of a weaker yen, which is promising for Japan’s export-dependent companies.
Hitachi Ltd. rising 1.2%, TDK Corp. and Nikon Corp. up 1.9% each, and Renesas Electronics Corp. improving by 1.4%.
Retail shares were also a strong spot, with Fast Retailing Co. up 1.3%, J. Front Retailing Co. ahead by 1.4%, and Takashimaya Co. rising 1.2%.
But in other markets, the Australia’s S&P/ASX 200 dropped 0.2%, South Korea’s Kospi lost 1.2%, and Taiwan’s Taiex fell 1.1%.
The main economic indicator for Asia on Thursday was Chinese preliminary manufacturing data for November from HSBC, with a reading of 50.4, compared with a final October result of 50.9.
After several days of strong trading in Hong Kong, the weaker HSBC preliminary Purchasing Managers’ Index weighed on stocks. The city’s benchmark Hang Seng Index fell 0.7%, and the Shanghai Composite lost 1%. The Hang Seng China Enterprises Index also retreated, by 1.1%, following its three-session winning streak.
China Merchants Bank Co. dropped 1.9%, China Construction Bank Corp. lost 1.3%, and China Everbright Ltd. retreated 2.4%.
Shares of Zijin Mining Group Co. gave up 2.7% after a heavy fall for Comex gold futures overnight.
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