Asian Stocks Swing Between Gain, Loss; Sun Hung Kai Drops

30/03/2012 07:53 AST  Bloomberg

Asian stocks swung between gains and losses as the region’s benchmark equity index headed toward its biggest quarterly gain since 2010. Japanese manufacturers slid after the nation’s industrial production unexpectedly fell and investors waited for U.S. data on income and spending.

Industrial & Commercial Bank of China Ltd., the world’s most profitable lender, climbed 1.6 percent after posting earnings that exceeded estimates. Fanuc Corp. (6954), Japan’s biggest maker of factory robots, fell 2.3 percent. Sun Hung Kai Properties Ltd. (16), the world No. 2 real estate company, plunged 12 percent in Hong Kong after the firm’s co-chairmen were arrested in a corruption probe.

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