Commodity-related stocks fell, dragging down Asian stocks which, after recovering the day before, fell again. Commodity groups have plunged on concerns that slowing global economic growth could lead to a drop in demand. Among the highlights, BHP Billiton, the world's largest mining group, lost 3,4% in Sydney. LG Display, supplier of displays for Apple's iPhone and iPad, fell 4,3% in Seoul after audio-chip maker Cirrus Logic reported overstocking, news suggesting lower sales to expectations for the iPhone. IncSoftbank, Japan's third-largest wireless carrier, dropped 1,9% after a rival's bid on Sprint Nextel won shareholder support.
The MSCI Asia Pacific index slipped 0,8% to 136.37 at 10:46 in Tokyo. All industry groups fell, leading the benchmark to its third day of decline in four days after the release of data suggesting a weaker-than-expected Chinese run and new (lower) estimates from the Monetary Fund for European growth.
The Nikkei 255 Stock Average fell 0,9%, the Shanghai Composite and the Kospi fell 0,5%, while Taiwan's Taiex shrank 0,2 percent.
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