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Asian stocks fell as Panasonic Corp. led declines among Japanese electronics makers after forecasting a loss 30 times bigger than analysts estimated, overshadowing a report China’s manufacturing output expanded for the first time in three months.
Nikkei 225 8,946.87 +18.58 +0.21%
S&P/ASX 200 4,457.65 -59.35 -1.31%
Shanghai Composite 2,104.43 +35.55 +1.72%
Panasonic plunged 19 percent, the most since at least 1974, to lead declines on the MSCI Asia Pacific Index.
Arrium Ltd. tumbled 13 percent after a consortium that includes Noble Group Ltd. and Posco dropped an attempt to buy the Australian steelmaker.
Wipro Ltd. climbed 3.5 percent in Mumbai after India’s third-largest software exporter agreed to separate its consumer care and lighting businesses.
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