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Asian stocks fell, with the regional benchmark index retreating from a two week high, as surging Spanish bond yields stoked concern that a bailout for the nation’s banks won’t tame the European debt crisis.
Nikkei 225 8,536.72 -88.18 -1.02%
S&P/ASX 200 4,072.9 +9.20 +0.23%
Shanghai Composite 2,289.79 -16.07 -0.70%
Esprit Holdings Ltd., a clothier that counts Europe as its No. 1 market, decreased 1 percent in Hong Kong.
Brilliance China Automotive Holdings Ltd. dropped 2 percent, pacing declines among Chinese carmakers, after the government said vehicle prices dropped in May.
BHP Billiton Ltd., the world’s biggest mining company and Australia’s largest oil producer, lost 0.6 percent in Sydney as crude and copper futures slid.
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