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Asian stocks dropped, with the regional benchmark index heading for its second day of decline, after China tightened mortgage rules to cool the property market. Japanese shares pared gains.
Nikkei 225 11,652.29 +45.91 +0.40%
Hang Seng 22,537.81 -342.41 -1.50%
S&P/ASX 200 5,010.52 -75.61 -1.49%
Shanghai Composite 2,273.4 -86.10 -3.65%
China Resources Land Ltd., a state-owned developer, slumped 9.3 percent in Hong Kong, pacing declines among Chinese real- estate companies.
Noble Group Ltd., Asia’s biggest commodity trader by sales, dropped 2.6 percent in Singapore after Citigroup Inc. downgraded its rating.
Mitsubishi Estate Co., Japan’s No. 1 developer by market value, rose 3.6 percent after Bank of Japan nominee Haruhiko Kuroda said he will do whatever it takes to end deflation.
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