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Tuesday, February 05, 2013

Asian Stocks Fall From 18-Month High on Europe as Aussie Weakens

Asian stocks fell from an 18-month high on renewed concern about Europe’s debt crisis and as forecasts from HTC Corp. to Hitachi Ltd. (6501) disappointed investors. Metals declined and Australia’s dollar weakened.

The MSCI Asia Pacific Index (MXAP) lost 0.8 percent at 12:53 p.m. in Tokyo, as Hong Kong’s Hang Seng Index slumped 1.6 percent. Standard & Poor’s 500 Index futures were little changed after a 1.2 percent slump yesterday. Palladium slipped 0.8 percent and zinc retreated 1 percent. The Australian dollar fell 0.4 percent versus the greenback after the central bank left interest rates unchanged. The euro weakened against the dollar after falling the most in a month yesterday.

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