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Asian stocks fell, with the regional benchmark index heading for the longest streak of weekly losses in five months, after faster U.S. economic growth fueled concern the Federal Reserve may reduce stimulus sooner than expected.
Nikkei 225 14,086.8 -141.64 -1.00%
S&P/ASX 200 5,400.67 -21.37 -0.39%
Shanghai Composite 2,106.13 -23.27 -1.09%
Fortescue Metals Group Ltd. sank 4.2 percent after Teck Resources Ltd. sold a stake worth about A$500 million ($473 million) in Australia’s third-biggest iron-ore exporter.
Sony Corp., a TV maker that gets 68 percent of sales outside Japan, lost 2.7 percent after the yen yesterday surged against the dollar, curbing the outlook for exporters.
Samsung Electronics Co. preferred shares declined 5 percent in Seoul after Citigroup Inc. managed the sale of a $350 million stake in the electronics firm.
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