BLBG: Asian Stocks Fall, Led by Commodity, Utility Shares; BHP Drops
Asian commodity and utility shares declined amid deepening concern the financial crisis is hurting corporate profits. Consumer-related companies advanced.
The MSCI Asia Pacific Index dropped 0.3 percent to 72.23 at 1:41 p.m. in Tokyo. It fell as much as 1.7 percent earlier. The gauge declined 19 percent in 2009, extending last year’s record 43 percent tumble, as recessions in the world’s largest economies hurt earnings at companies from BHP Billiton to Toyota Motor Corp.
