Most Asian stocks dropped on concern Cyprus’s bank-restructuring plan will be used for other European nations, imperiling depositors and bondholders, and on a report China is stepping up property curbs.
Japanese shares fell on concern a bailout plan for Cyprus will set a precedent for losses on bank deposits in other European nations. Exporters pared declines after the yen weakened as the Bank of Japan governor outlined monetary easing steps.
Asian stocks fell, dragging the regional benchmark index down from an 18-month high, amid renewed concern about Europe’s debt crisis. Hong Kong shares tumbled the most since November amid speculation the government may act to cool the property market.
Asian stocks outside Japan fell this week after the European Central Bank said the euro’s strength could hamper an economic recovery. Japanese shares gained as the yen fell after Bank of Japan Governor Masaaki Shirakawa said he will step down ahead of schedule.
The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are from the previous close. The information in each item was released after markets shut, unless stated otherwise.
Konica Minolta Holdings Inc., a Japanese office equipment maker, hired Mitsubishi UFJ Morgan Stanley Securities Co., Nomura Securities Co., Nikko Cordial Securities Inc. and Daiwa Securities Capital Markets Co. for sales of five-year and seven-year bonds, according to a faxed statement from Mitsubishi UFJ.
Asian stocks headed for the biggest three-day gain since December, as financial firms advanced amid optimism European policy makers will support the monetary union and after companies including Konica Minolta Holdings Inc. reported earnings.
Japan’s Nikkei 225 Stock Average fell 158.04, or 1.5 percent, to 10,462.51 as of the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.