Investors were watching developments in Eastern Europe. According to reports, the U.S. and European Union would likely to impose new sanctions today on Russian companies and individuals close to President Vladimir Putin over the escalating crisis in Ukraine. Representatives of the 28 European Union nations will also meet today to widen a list of people subject to asset freezes and travel bans.
Meanwhile, risk appetite was also weighed down by signals that Chinese authorities are not likely to support the economy with more stimulus. Sentiments also hurt by the looming IPO relaunch in A-share market. The total number of companies seeking to go public has climbed to 122 after 25 more prospectuses were posted on the website of the CSRC on April 25.
Among Asian bourses, Japanese share market dropped today, as risk aversion selloff triggered across the board on tracking poor performance on Wall Street, a stronger yen and jitters over the Ukraine crisis. The benchmark Nikkei 225 index lost 1% to 14288.23, while the Topix index of all first-section shares eased 0.79% to 1160.74. Tokyo markets will be closed for Showa Day on Tuesday, the birthday of the previous emperor.
Japanese yen appreciated against basket of major currencies amid renewed demand for safe heaven units on escalating geopolitical tensions in Eastern Europe. The dollar was steady on the day at 102.22 yen, pulling away from a session low of 102.04 yen but still not far from a one-week trough of 101.96 yen hit on Friday. The euro dipped about 0.1% to 141.29 yen.
Honda Motor fell 4.5% at 3315 yen after announcing a weaker-than-expected earnings outlook on Friday. Honda Motor expects its group net profit to amount to Y595 billion in the fiscal year ending in March, below the market expectations of Y692 billion.
Japan Display tumbled 16% to 672 yen following a downward revision to its outlook. Just over a month after its initial public offering, Japan Display revised down its annual net profit target by 15% from its outlook released March 19, the day of its listing.
In Australia, Australian share market managed to close higher for seventh session in row, as gains in top lenders, retailers and bullion stocks were more than offset by losses in materials & resources players. The benchmark S&P/ASX200 rose by 5.10 points to 5536.10, while the broader All Ordinaries added 0.60 point to 5516.10.
Shares in Sydney market opened higher today, defying a weak lead from equity markets around the United States and Europe. The market risk sentiments underpinned further on excitement surrounding a foreign takeover bid for bread and margarine maker Goodman Fielder. But the market trimmed gains late afternoon due to sell-off in iron ore and coal miners.
Shares of bullion miners were top gainers in the Australian market, after Comex gold futures quote rose by US$10.20 an ounce or 0.8% on Friday to US$1,300.80 per ounce. Newcrest Mining was up 5% to A$10.74 and Evolution Mining 4.4% to A$0.940.
Banks and financials were broadly higher, with three of the big four banks closed at record highs as investors continue to pile in ahead of dividend season next month. ANZ Banking Group added 0.8% to A$34.94 and Westpac Banking Corp 0.2% to A$35.86. Commonwealth Bank of Australia rose 0.7% to A$79.45 and National Australia Bank 0.5% to A$35.91.
AMP shares fell 0.8% to A$5.12 as the Australian Shareholders Association said it will vote against the insurance and wealth management group's remuneration report next week.
Shares of groceries were also higher, with Woolworths up by 2% to a fresh record high of A$38.49. Rival Wesfarmers, owner of Coles, dipped 0.1% to A$43.89 ahead of delivering its third quarter sales on Tuesday.
Packaged foods group Goodman Fielder climbed up 15.5% to A$0.635 after rejecting a A$0.65 per share foreign takeover offer.
Acrux was down 33.2% to A$1.11 after pharmaceutical company warning shareholders it is likely to miss targets due to sales of its lead product, the testosterone replacement therapy Axiron, being hurt by a US Food and Drug Administration investigation into a possible link between the treatment and increased risk of heart attack or stroke.
In China, Mainland China share market stumbled, registering fourth consecutive days of selloff, on intensifying concerns over IPO and corporate earnings. The benchmark Shanghai Composite Index tanked 1.62% to 2003.49 and the CSI 300 Index closed lower by 1.52% to 2132.69.
Among SSE sectors, all 10 sectors of the SSE index declined, with information technology sector was top loser in the SSE sectoral peers, with fall of 3.2%, meanwhile energy sector was down 3%, consumer staples down 2.9%, telecommunication services down 2.6%, healthcare down 2.6%, materials down 2.1%, consumer discretionary down 2%, industrials down 1.9%, utilities down 1.3%, and financial down 0.9%.
Shares of insurance companies closed down. China Life tumbled 2.8% in Shanghai after profit fell 28% in the first quarter from a year earlier as investment returns dropped. China International Marine Containers lost 9.5% after net income fell 42% to 127.9 million yuan.
Steel makers were lower, with Angang Steel Co. lead declines, sliding 3.7% to 2.84 yuan, after the China Banking Regulatory Commission has issued a statement asking banks to report exposure to iron ore import financing and warned them about the risks.
Property developers shares declined, with Poly Real Estate lead losses, retreating 3% to 7.55 yuan after the Shanghai Morning Post reported that he purchase price for homes in a Shanghai development called Yulong mansions in the Pudong new area was cut by 28%.
In Hong Kong, shares in city's market finished the session in negative territory, on concern about heightening tensions between western powers and Russia over Ukraine. Meanwhile, selloff pressure mounted on tracking steep fall in the Mainland bourses. The benchmark Hang Seng index declined 0.3% to 22132.53, while Hang Seng China Enterprises Index dropped 0.3% to 9770.10.
Among the HK 50 blue chips, 24 fell and 23 rose, with remaining three stocks closed steady. China Mengniu Dairy Co declined 5.1% to HK$39.10, contributing 9-points losses to the benchmark Index and becoming the worst-performing blue chip in percentage change term. China Unicom advanced 3.1% to HK$10.56, contributing 6-points gains to the benchmark Index and becoming the best-performing blue chip in percentage change term.
Shares of software developers declined, with Tencent lead losses, falling 2.9% to HK$508.5. Sinosoft plummeted 7% to HK$2.49. Both Kingdee and Kingsoft plunged 6% to HK$2.37 and HK$25.9, respectively.
China insurers were lower. China Life (02628) retreated 2.2% to HK$20 as its 1Q earnings growth was below expectations. Ping An (02318) and PICC Group (01339) also fell 1.6 and 1.3% to HK$57.5 and HK$2.95, respectively.
The values of Hong Kong's total exports and imports of goods both recorded year-on-year increases, at 3.4% and 3.2% respectively, data from the Census and Statistics Department showed on Monday. In March 2014, the value of total exports of goods (comprising re-exports and domestic exports) rose 3.4% over a year earlier to HK$301.5 billion, after a year-on-year decrease of 1.3% in February. For the first quarter of 2014 as a whole, the value of total exports of goods rose 0.7% over the same period in 2013.
In India, key benchmark indices edged lower for the second day in a row triggered by the India Meteorological Department (IMD) announcement that the country will likely get below-normal levels of monsoon rain this year.
The S&P BSE Sensex fell 56.46 points or 0.25% to 22,631.61, its lowest closing level since 17 April 2014. The CNX Nifty fell 21.50 points or 0.32% to 6,761.25, its lowest closing level since 16 April 2014.
Hindustan Unilever ended almost flat at Rs 580.60 after announcing Q4 results. The stock hit a high of Rs 588 and low of Rs 565.10. The company's net profit rose 10.78% to Rs 872.13 crore on 10.24% rise in total income to Rs 7244.73 crore in Q4 March 2014 over Q4 March 2013.
IDFC rose 0.35% to Rs 114.50 on weak Q4 results. The company's consolidated net profit declined 50.93% to Rs 257.94 crore on 0.05% growth in total income to Rs 2219.57 crore in Q4 March 2014 over Q4 March 2013.
Godrej Consumer Products fell 2.76% to Rs 783.25, after consolidated net profit declined 29.28% to Rs 236.28 crore on 12.19% growth in total income from operations (net) to Rs 1931.52 crore in Q4 March 2014 over Q4 March 2013.
Siemens gained 0.66% to Rs 744.70 after net profit jumped 194.7% to Rs 88.27 crore on 8.6% fall in net sales to Rs 2657.74 crore in Q2 March 2014 over Q2 March 2013.
Sunteck Realty rose 2.28% to Rs 312. The company announced during trading hours today, 28 April 2014, that through its overseas subsidiary, it has entered into a joint venture agreement for development of land in UAE.
Shree Cement lost 2.08% to Rs 5,700.05 after net profit declined 18.81% to Rs 222.51 crore on 15.44% growth in total income to Rs 1714.56 crore in Q3 March 2014 over Q3 March 2013.
Elsewhere in the Asia Pacific region, South Korea's KOSPI index was down 0.12%. Malaysia's KLSE Composite shed 0.28%. Singapore's Straits Times index dropped 0.95%. Indonesia's Jakarta Composite Index fell 1.61%. New Zealand's NZX50 shed 0.74%. Taiwan's Taiex index rose 0.41%.
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