Nikkei: 8,767.09 (–34.31) Hang Seng: 19,677.89 (–164.90) Shanghai Comp: 2,509.80 (–18.49)CHINESE PROPERTY and automobile sector shares fell yesterday, dragging local and pan-Asia Pacific indices lower.
Car makers declined after China passenger car sales fell 4.2 per cent in October. SAIC, China’s largest auto group, fell 4.5 per cent to Rmb15.89.
The Shanghai Composite index shed 0.7 per cent.
Property shares slumped after Premier Wen Jiabao reaffirmed the government’s intention to drive down property prices.
In Hong Kong, China Overseas Land fell 4.8 per cent to HK$14.28, while China Resou-rces Land lost 2.4 per cent to HK$12.22.
Energy producer Cnooc dropped 2.2 per cent to HK$14.96 after a deal to buy a stake in an Argentine oil producer from BP fell apart.
In Seoul, Kepco Engineering & Construction, which designs nuclear power plants, rose 14.9 per cent to Won93,200 and Kepco Plant Service & Engineering, ral-lied 6.8 per cent to Won40,000.
In Tokyo, the Nikkei lost 0.4 per cent. Kirin Holdings, Japan’s largest beverage maker, fell 3.5 per cent to ¥937. – (Copyright The Financial Times Limited 2011)
