Asian Shares End Mostly Lower; Traders Await US Fed Decision

BANGKOK (AP)--Most Asian markets fell Tuesday amid anxiety ahead of the U.S. Federal Reserve's decision on interest rates.
Hong Kong still managed to edge up to its fourth straight record close on demand for Chinese bank shares.
In Tokyo, stocks slipped, hurt by a sharp drop in Japan's top drug maker Takeda Pharmaceutical after U.S. authorities requested more data for a drug under development.
The Nikkei average fell 0.28% to 16,651.01 on the Tokyo Stock Exchange. "The market has obviously taken (the Takeda news) very badly," said Junichi Misawa, a fund manager at STB Asset Management.
The market also met some profit-taking following recent gains in the Nikkei, he said. Adding to the drop were sluggish flows from overseas investors because of uncertainty over the Fed's decision on interest rates due Wednesday, said traders at foreign brokerages.
Takeda Pharmaceutical Co., Japan's largest drug maker by market capitalization, tumbled 12%. The U.S. Food and Drug Administration requested more data on the company's TAK-475 cholesterol-lowering drug Monday, delaying the planned submission for a new drug application.
Meanwhile, Hong Kong's Hang Seng Index rose to its fourth record close, as strong gains in mainland markets boosted demand for Chinese banks listed in the territory.
The Hang Seng rose 0.2% to 31,638.2 after briefly hitting an intraday record of 31,968.4. "Hot money continues to enter Hong Kong, taking up stocks with lower risks such as Chinese banks," said Y.K. Chan, a fund manager at Phillip Asset Management.
China Construction Bank led the gains, as it was lifted by continued buying interest after a slew of target price upgrades in response to the bank's better-than-expected earnings in the third quarter.
Shares in the bank rose 6.3%. Bank of Communications rose 1.6% on speculation that banking giant HSBC is still buying up more of the bank's shares from the open market, analysts said.
Property stocks fell, capping the Hang Seng's gains.
Sun Hung Kai Properties fell 5.9%, New World Development dropped 3.1%, Cheung Kong lost 2.7%, and Hang Lung Properties declined 3.5%.
In Tokyo currencies, the U.S. dollar was trading at Y114.46 at 0750 GMT, down from Y114.62 late Monday in New York.
The euro fell to US$1.4406 from US$1.4426. Thailand's main stock index fell 0.9% to 906.66 in line with regional markets and as energy stocks weakened with the fall of oil prices from record levels above US$93 a barrel.
Indonesia's benchmark index fell 0.2% to 2,662.9 in moderate volume.
Malaysia's Kuala Lumpur Composite Index rose 0.1% to a record close of 1,412.8.