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Asian stocks fell, with the regional benchmark index headed for its lowest close in a month, after Japan’s economy shrank at the fastest pace since last year’s earthquake, overshadowing an acceleration in China’s exports.
Nikkei 225 8,676.44 -81.16 -0.93%
S&P/ASX 200 4,448.03 -13.99 -0.31%
Shanghai Composite 2,079.27 +10.21 +0.49%
Yokohama Rubber Co. sank 6.3 percent after posting quarterly earnings that missed analysts’ estimates and as the price of rubber fell to a two-month low following the Japanese data.
QBE Insurance Group Ltd. sank 8.3 percent, the most in 11 months, after Australia’s No. 1 insurer by market value said it will issue debt due to losses from U.S. super storm Sandy.
Li & Fung Ltd., a supplier of clothes and toys to Wal-Mart Stores Inc., climbed 1.3 percent as China’s exports grew at the fastest rate since May.
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