Asian stocks fell for the first time in three days, heading towards monthly lows. The news from Cyprus slowed down the race. In particular, the news of the forced levy on bank deposits operated by the European country has rekindled concerns for the economic stability of the EU. On the corporate front, Nissan Motor, which obtains 80% of its turnover abroad, fell by 2,7. 1,9% due to the strengthening of the yen against almost all major currencies. BHP Billiton, the world's largest mining group, fell 1,6% in Sydney, leading the decline of companies whose profits are particularly linked to economic growth. Bucking the trend, Panasonic gained XNUMX% in Tokyo on rumors that the Japanese group is about to exit the plasma TV market.
The MSCI Asia Pacific index fell 0,9% to 135.37 as of 9:40 am in Tokyo, ahead of the opening of Hong Kong and China stock exchanges. Year-to-date through the end of last week, the index had risen 5,6% on good US economic data and speculation that Japan might use fresh stimulus to offset Chinese efforts to rein in real estate market prices. The Nikkei 225 Stock Average dropped 1,8 percent. Australia's S&P/ASX 200 fell 1,3%, while South Korea's Kospi fell 0,5 percent.
Attachments: Bloomberg
