MW: Asian stocks lower in early trade: Honda lower in Tokyo
By Chris Oliver
HONG KONG (MarketWatch) -- Asian stocks declined Monday, with automakers under pressure in Tokyo after a Nikkei report that domestic new car sales this year could fall to their lowest level since 1974. Light sweet crude oil futures were down as much as $1.32 to $53.11 a barrel in electronic trading. Honda Motor Co.'s shares were down 4.7%, leading the auto sector lower after a senior official was cited in a newswire report Friday as saying that the company will struggle to meet its lowered profit forecasts this year. The Japanese Nikkei 225 was down 2% to 8,343.69, the Australian S&P/ASX 200 was off 1.6% at 3,681.20 and the South Korean Kospi fell 1.5% to 1,059.74. Singapore's Strait Times Index edged down 1.8% at 1,701.05 and the Taiwanese Taiex index was off 0.8% at 4,426.44.
