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Asian stocks fell, paring the biggest rally in two weeks yesterday, 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.
Nikkei 225 12,471.62 -74.84 -0.60%
Hang Seng 22,311.08 +59.93 +0.27%
S&P/ASX 200 4,950.25 -39.95 -0.80%
Shanghai Composite 2,297.67 -29.05 -1.25%
HSBC Holdings Plc, Europe’s biggest lender, dropped 1.3 percent in Hong Kong.
Country Garden Holdings Co., the Chinese developer controlled by billionaire Yang Huiyan, decreased 1.7 percent on a report that banks have started to control the scale of loans for mainland real estate developments.Softbank Corp., Japan’s third biggest wireless carrier, rose 2.5 percent as it will raise its stake in Gungho Online Entertainment Inc. to tap demand for mobile games.
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