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Asian stocks fell, with the regional benchmark index heading for a third straight daily decline, after companies from Daewoo Engineering & Construction Co. to Tokyo Steel Manufacturing Co. posted weaker earnings and a report China’s manufacturing may shrink for a sixth month.
Nikkei 225 9,542.17 -19.19 -0.20%
Hang Seng 20,728.51 -282.13 -1.34%
S&P/ASX 200 4,352.4 -14.10 -0.32%
Shanghai Composite 2,388.59 -18.28 -0.76%
Daewoo Engineering dropped 4.4 percent in Seoul after the construction company posted a 38 percent drop in first-quarter operating profit. Tokyo Steel slumped 7.6 percent as the steelmaker’s full-year loss widened. China Mobile Ltd., the world’s biggest carrier by subscribers, fell 2.2 percent in Hong Kong after posting first-quarter net income that missed analysts’ estimates.
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