Asian stocks outside Japan declined, led by material producers and developers, on concern policy makers in China will step up efforts to cool the property market and as Hong Kong banks raised mortgage rates.

Nikkei 225 12,381.19 +141.53 +1.16%

Hang Seng 22,619.18 +62.53 +0.28%

S&P/ASX 200 5,032.22 -60.18 -1.18%

Shanghai Composite 2,270.28 +6.31 +0.28%

BHP Billiton Ltd., the world’s biggest mining company, slid 2.3 percent in Sydney as metal futures fell.

Country Garden Holdings Co., the Chinese developer controlled by billionaire Yang Huiyan, declined 3.7 percent.