China PMI sees Most Asian Equities Lower

Asian stocks outside Japan fell after minutes from the U.S. Federal Reserve’s last meeting signaled U.S. stimulus may be reduced in coming months and China manufacturing fell more than expected.

Samsung Electronics Co., South Korea’s biggest consumer electronics maker that gets 22 percent of its revenue in America, declined 2 percent. Australand Property Group fell 4.5 percent in Sydney after dropping 3.4 percent yesterday as CapitaLand Ltd. sells part of its 59 percent stake in the developer. Mitsubishi Estate Co. declined 0.9 percent in Tokyo as the developer’s rating was cut at Mitsubishi UFJ Morgan Stanley Securities Co. and JPMorgan Chase & Co.

The MSCI Asia Pacific excluding Japan Index declined 1 percent to 470.13 as of 10:30 a.m. in Hong Kong as all 10 industry groups on the gauge dropped. The MSCI Asia Pacific Index, which includes Japanese shares, dropped 0.4 percent to 141.58. Japan’s Topix index rose 0.9 percent as the yen slid.

Bloomberg

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