By Lisa Twaronite, MarketWatch TOKYO (MarketWatch) — Asia’s major stock indexes slipped Monday, after last week’s Wall Street losses and a fall in crude prices, while weaker-than-expected lending data weighed on Chinese banking shares. Japanese stocks faced additional headwinds from a persistently strong yen and disappointing economic data. The Nikkei Stock Average JP:NIK -0.75% traded down 0.9% in the afternoon session, while the broader Topix index was also down 0.9%. Data released by China’s central bank showed the nation’s lenders extended fewer loans than expected in May, and the nation’s money supply expanded at a slower-than-expected pace. The Shanghai Composite Index CN:000001 -1.11% skidded 1.1% in the morning session. In Hong Kong, stricter rules for residential mortgages hurt real-estate shares there, though the Hang Seng Index HK:HSI -0.78% recovered somewhat from a early drop of 1.2% to trade 0.8% lower, while the Hang Seng China Enterprises Index accelerated its drop to lose 1.1%. Last week’s Wall Street losses helped to depress markets in Asia. On Friday, the Dow Jones Industrial Average DJIA -1.09% fell 1.4%, to 11,951.91, its lowest close since March 18, rounding out its sixth straight losing week. Read more on U.S. stocks. “Last week was another poor week for risk appetite, with weaker-than-anticipated Chinese trade data adding another layer to global growth concerns that had been previously led by the U.S. following a run of weak economic data,” said Mitul Kotecha, strategist at Credit Agricole SA in Hong Kong. “Data releases this week are unlikely to reverse the negative sentiment pervading markets,” he said in a note to clients Monday. In the U.S. this week, key releases include retail sales, consumer price index inflation, industrial production and manufacturing surveys. See U.S. economic preview. Also dragging on some Japanese stocks, the dollar USDJPY +0.31% remained below 81 yen, buying ¥80.53, though it was up from ¥80.35 in late North American trading Friday. A strong yen erodes the repatriated profits of exporters. Among decliners, Elpida Memory Inc. JP:6665 -0.90% ELPDF +5.14% dropped 1.5%, and Fuji Heavy Industries Ltd. JP:7270 -1.75% FUJHF +0.42% fell 1.6%. Click to Play Asia's Week Ahead: China CPI, BOJ China will release some key economic data for May, including inflation figures, and investors will get to see Japan's core machinery orders data for April. The Bank of Japan's policy board will also meet. MarketWatch's Lisa Twaronite in Tokyo reports. Toyota Motor Corp. JP:7203 -2.73% TM -0.92% lost 2.6% after the car maker issued a weaker-than-expected profit outlook late Friday. Read more on Toyota‘s fiscal-year forecast. Energy losses Weak crude weighed on energy shares around the region, with the benchmark Nymex contract dropping below $99 a barrel over the weekend. Light, sweet crude oil for July delivery CL1N -0.53% fell to $98.90 in Monday electronic trade in Asia, down from Friday’s New York settlement at $99.29. Energy shares fell in Tokyo, with Inpex Corp. JP:1605 -2.04% IPXHY +1.36% down 2.0%, and Japan Petroleum Exploration Co. JP:1662 -1.67% JPTXF 0.00% 1.8% lower. In Hong Kong, Cnooc Ltd. HK:883 -1.83% CEO -2.65% fell 1.9%, and PetroChina Co. HK:857 -1.66% CN:601857 -1.66% PTR +0.21% dropped 1.7%. Also weighing on Japanese shares were monthly data Monday showing an unexpected drop in core machinery orders, which are considered a leading indicator of corporate capital spending. Orders slipped 0.2% in April from the previous year and 3.3% from March, while economists surveyed by Dow Jones Newswires had expected a 1.2% rise from March. Read more on Japan core machinery orders. China data, Hong Kong real estate Many bank shares came under pressure in Shanghai after the Chinese lending data, with Bank of China Ltd. CN:601988 -1.27% HK:3988 0.00% BACHY -2.21% losing 1.3%, and Bank of Communications Ltd. CN:601328 -0.71% HK:3328 -0.81% BKFCF 0.00% shedding 0.7%. Chinese financial institutions issued 551.6 billion yuan ($85 billion) of new loans in May, easing from the 739.6 billion yuan in April and missing a consensus expectation of 650 billion yuan cited in several news reports. Money supply as measured by M2 was up 15.1% at the end of May from a year earlier, easing from a 16.6% rise in April and shy of the 15.5% rise pegged in consensus expectations. Read report on Chinese monetary data. “Though these readings could ease markets’ inflation expectations, they could also add fear to the credit-crunch stories and worsen worries on a hard landing in China,” Bank of America Merrill Lynch analysts in Hong Kong, said in a note following the data release. In Hong Kong, measures by the Hong Kong Monetary Authority on Friday to limit the size of mortgages for high-end residential properties helped send Agile Property Holdings Ltd. HK:3383 -3.81% AGPYY -1.77% down 2.1%, Hang Lung Properties Ltd. HK:101 -0.50% HLPPF 0.00% down 0.7%, and Sino Land Co. HK:83 -2.97% SNLAF 0.00% lower by 2.3%. In its latest tightening move in the sector, the Hong Kong Monetary Authority told banks to limit mortgages on residential properties worth more than 10 million Hong Kong dollars ($1.3 million) to 50% of the total value, down from a previous threshold of HK$12 million. A 60% mortgage limit will apply to properties worth HK$7 million to HK$10 million, down from a previous bracket of HK$8 million to HK$12 million. South Korea’s Kospi KR:0100 -0.44% was flat after moving in either direction during the session. Markets in Australia were closed for a public holiday Monday. Lisa Twaronite is MarketWatch's Tokyo bureau chief.

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