Asian stocks trade mostly lower with notable outperformance observed in the Nikkei 225 befitting from JPY weakness after Japanese CPI rose less than expected and following a series of positive earning reports. Chinese markets trade lower across the board led by the Hang Seng index (-1.4%), led lower by HSBC Holdings, which is the largest component in the index, following a downgrade at Morgan Stanley. Sentiment was further weighed on by concerns over rising bad loans in Chinese banks after the Bank of China reported new non-performing loans in Q1 reached CNY 7.02bln, accounting for nearly 90% of all the new bad loans recorded last year. The Nikkei 225 preliminary closed up 0.17% at 14,429.26. Elsewhere, the MICEX (-1.4%) fell after Russia was cut to BBB- from BBB at S&P, with their outlook remaining negative. (RANsquawk)
Best Performing Sectors in the Nikkei 225: Oil & Gas (1.23%), Utilities (0.65%) and Health Care (0.64%).
Best Performing Stocks in the Nikkei 225: Fuji Electric (+8.76%), Kawasaki Heavy Industries (+7.95%) and Shimizu (+3.66%).
Worst Performing Sectors in the Nikkei 225: Basic Materials (-0.14%), Financials (-0.20%) and Telecommunications.
Worst Performing Stocks in the Nikkei 225: Advantest (-3.66%), Shiseido (4.34%) and Terumo (-5.26%).
25 Apr 2014 - 13:13 - Equities Data - Source: RANsquawk
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