Asian stocks fell, with the regional benchmark index heading for its first drop in three days, after a gauge of China’s manufacturing unexpectedly contracted.

Nikkei 225 15,695.89 -125.07 -0.79%

Hang Seng 22,732.65 -349.60 -1.51%

S&P/ASX 200 5,262.99 -56.78 -1.07%

Shanghai Composite 2,042.18 -9.57 -0.47%

China Construction Bank Corp. slid 2.7 percent in Hong Kong, pacing losses among Chinese lenders.

Hang Lung Properties Ltd., the Hong Kong developer investing more than $8.5 billion building malls in mainland China, declined 3.7 percent after posting a drop in underlying profit.

Insurance Australia Group Ltd. lost 3 percent after the nation’s largest car and home insurer lowered its growth forecast for gross premiums.