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Most Asian shares dropped on earnings concern after Nikon Corp. and News Corp. cut forecasts and Japan’s Nikkei 225 Stock Average fell from a four-year high.
Nikkei 225 11,357.07 -106.68 -0.93%
Hang Seng 23,177 -79.93 -0.34%
S&P/ASX 200 4,935.7 +14.75 +0.30%
Shanghai Composite 2,418.53 -15.95 -0.66%
Nikon plunged the most since 1985 as the Japanese camera maker reduced its profit forecast on slowing demand in Europe.
Rupert Murdoch’s News Corp. lost 3.2 percent in Sydney after cutting its earnings outlook on declining ratings for shows such as “American Idol” and “X Factor.”
Kubota Corp. lost 3.8 percent, among the biggest drops on the Nikkei 225, as net income at the Japanese tractor maker missed analysts’ estimates.National Australia Bank gained 1.9 percent as the lender reported a rise in first-quarter profit.
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