Li & Fung Ltd. (494) rose 3 percent in Hong Kong after Goldman Sachs Group Inc. recommended buying shares of the Wal-Mart Stores Inc. supplier. Honda Motor Co., Japan’s second-largest carmaker by market value, dropped 0.6 percent. Hyundai Wia Corp. slumped 4.7 percent in Seoul after South Korean automakers sold shares in the parts manufacturer at a discount.

“The market’s taking a breather after its recent rally,” saidMitsushige Akino, who oversees about $600 million at Ichiyoshi Investment Management Co. in Tokyo. “There’s no doubt theU.S. economy is headed in a good direction. Fundamentals are strong and money is flowing into Asia. With the U.S. recovering and Europe’s debt crisis no longer acting as a drag, the global economy’s not headed for a decline.”

The MSCI Asia Pacific Index rose less than 0.1 percent to 127.90 as of 12:02 p.m. in Tokyo, set to gain for the 12th week in 13 weeks. About as many stocks rose as fell, with six of the gauge’s 10 industry groups advancing.

Japan’s Nikkei 225 Stock Average (NKY) slid 0.1 percent. Australia’s S&P/ASX 200 Index (AS51)dropped 0.1 percent and South Korea’s Kospi Index declined 0.2 percent.

Hong Kong’s Hang Seng Index fell 0.2 percent, while the Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, gained 0.6 percent.

Galaxy Entertainment Group Ltd. (27) surged 6.3 percent to HK$20.10 in Hong Kong, leading its peers higher after Nomura Holdings Inc. raised the Macau casino operator’s rating to “buy” from “neutral” on expectation the company will beat estimates this year.

To contact the reporters on this story: Kana Nishizawa in Hong Kong atknishizawa5@bloomberg.net

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

http://www.bloomberg.com/news/2012-03-16/asian-stocks-drop-as-japanese-exporters-fall-on-stronger-yen.html

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