SINGAPORE — Shares in Asia-Pacific largely slipped in Monday morning trade, with stocks in Hong Kong leading losses.
Chinese property developer Soho China plunged 36% in the morning after a takeover deal by Blackstone Group fell through. Soho China said in a filing on Friday that Blackstone has decided not to go through with its $3 billion bid to buy the developer.
In Japan, the Nikkei 225 edged 0.25% lower while the Topix index shed 0.16%.
Shares of automakers Toyota and Honda fell 2.37% and 1.84% respectively. The two firms criticized a U.S. House electric vehicle tax plan that would benefit Detroit’s Big Three automakers, according to a Reuters report.
South Korea’s Kospi dipped 0.22%.
The S&P/ASX 200 in Australia edged 0.14% higher.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.74% lower.
Looking ahead for the week, the U.S. consumer price index for August is set to be out on Tuesday, while retail sales figures stateside are expected Thursday. A slew of Chinese economic data, including retail sales and industrial production for August, is also set to be out on Thursday.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.665 after a recent decline from above 92.7.
The Japanese yen traded at 109.95 per dollar, stronger than levels around 110.4 seen against the greenback last week. The Australian dollar changed hands at $0.7358 following its slide last week from above $0.744.