Nikkei: 9,555.26 (-164.44) Hang Seng: 23,976.87 (-326.70) Shanghai Comp: 3,023.33 (+0.58):ASIAN STOCKS fell the most in almost a month after the International Monetary Fund yesterday cut its economic growth forecasts for the US and Japan, where the government said problems at a stricken nuclear plant were worse than previously stated.
In Tokyo, Honda fell 1.4 per cent to ¥2,862 and Toyota lost 0.6 per cent to ¥3,240. Sony, Japan’s largest exporter of consumer electronics, retreated 2.9 per cent to ¥2,502. Tohoku Electric lost 3.7 per cent to ¥1,358.
Fast Retailing, Asia’s biggest clothing chain, declined 1.3 per cent to ¥11,740. Inpex, Japan’s largest energy explorer, fell 5.2 per cent to ¥620,000, its steepest decline since March 15th.
In Sydney, James Hardie Industries, the largest seller of home siding in the US, fell 2.6 per cent to A$5.74. BHP slumped 1.3 per cent to A$48.89, the biggest drag on the MSCI index. Alumina, partner in the world’s biggest producer of the material used to make aluminium, dropped 6 per cent to A$2.53 in Sydney, its steepest drop since January 29th.
In Hong Kong, Cnooc fell 2.9 per cent to HK$19.86 and PetroChina slid 4.9 per cent to HK$11.74. – (Bloomberg)
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