Zoomlion Heavy Industry Science & Technology Co., a Chinese construction machinery maker, gained 3.3 percent in Hong Kong. Nissan Motor Co. (7201), Japan’s third-biggest carmaker, fell 1.2 percent after the nation’s current-account surplus narrowed on weak overseas demand. QBE Insurance Group Ltd., an Australian property and casualty insurer, tumbled 23 percent after predicting a drop in 2011 profit.

The MSCI Asia Pacific Index (MXAP) dropped 0.1 percent to 116.17 as of 11:25 a.m. in Tokyo, with five shares falling for every four that rose. The gauge advanced 1.7 percent in the past three days amid bets that China will ease monetary policy. The MSCI Asia Pacific excluding Japan Index climbed 0.2 percent.

“If inflation keeps coming down, it increases the likelihood that China will deem it appropriate to continue to ease monetary policy,” said Will Seddon, who helps oversee $300 million at White Funds Management in Sydney. “The market has largely digested the possibility of a recession in Europe. The rally can continue provided things don’t deteriorate further in Europe.”

To contact the reporter on this story: Jonathan Burgos at jburgos4@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

http://www.bloomberg.com/news/2012-01-12/asian-stocks-swing-between-gains-losses-on-european-concern-u-s-outlook.html

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