Asian stock indices dropped due to the stronger yen and concerns over China’s housing market. On a monthly basis, housing prices in China increased 6.7% in April from March’s rise of 7.7%. The strong yen had a negative impact on exporters.

The core machinery orders in Japan increased 19.1% in March, from a 4.6% gain in February. That was the record growth in March. February’s figure was revised up from an 8.8% decrease. Analysts had expected a 6.0% increase. On a yearly basis, the Japanese core machinery orders rose 16.1% in March, from a 10.8% increase in February. Analysts had forecasted a 4.3% gain.

Indexes on the close:

Nikkei 225                     14,006.44                -90.15        -0.64%

Hang Seng                        22,704.5                 -8.41        -0.04%

Shanghai Composite       2,005.18               -21.32        -1.05%