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Asian stocks fell, with the regional benchmark index headed for the biggest slide in a month, after Premier Wen Jiabao said China’s economy faces “relatively large” downward pressure and Japanese machinery orders fell the most in a decade.
Nikkei 225 8,896.88 -123.87 -1.37%
S&P/ASX 200 4,118.3 -39.51 -0.95%
Shanghai Composite 2,170.81 -52.77 -2.37%
BHP Billiton Ltd. the world’s biggest mining company, slid 1.9 percent as metals prices dropped following a U.S. jobs report that showed hiring isn’t increasing fast enough to lower the unemployment rate.
China Overseas Land & Investment Ltd. led declines among Chinese developers traded in Hong Kong after Wen pledged to prevent home prices rebounding.
Iluka Resources Ltd. tumbled 24 percent after the world’s biggest zircon producer cut its sales forecast for the mineral by as much as 50 percent.
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