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Asian stocks fell, with the benchmark index headed for its biggest weekly loss this year, as a surprise drop in profit at China’s third-largest bank compounded concern the global economy is slowing as manufacturing shrinks from Europe to Asia.
Nikkei 225 10,011.47 -115.61 -1.14%
Hang Seng 20,668.8 -232.76 -1.11%
S&P/ASX 200 4,270.39 -3.29 -0.08%
Shanghai Composite 2,349.54 -26.23 -1.10%
Agricultural Bank of China Ltd., slid 4.3 percent after posting lower-than-expected earnings and HSBC Holdings Plc, Europe’s largest lender by market value, slid 1.6 percent in Hong Kong.
Honda Motor Co., which gets about 80 percent of its revenue overseas, fell 2.9 percent in Tokyo after the yen strengthened.
BHP Billiton Ltd., the world’s largest mining company, lost 1.2 percent in Sydney after metal and oil prices fell yesterday.
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