Asian Stocks Fall on Concern U.S. Growth to Slow; BHP Slides

Asian stocks declined after U.S. consumer spending slowed, suggesting that expansion in the world's largest economy is cooling. Honda Motor Co., which gets more of its earnings from the U.S. than other major Japanese carmakers, led the drop among exporters.

Sharp Corp., Japan's biggest maker of liquid-crystal display televisions, and Li & Fung Ltd., a Hong Kong-based supplier to Wal-Mart Stores Inc. and other U.S. clients, fell on concern overseas demand for their products will wane.

``Lingering worries about the U.S. economy capped investor confidence,'' said Ashley Kang, who helps manage $1.7 billion at IBT Securities Co. in Taipei. ``Export-dependent stocks are suffering.''

BHP Billiton Ltd. fell after an earthquake in Chile stopped production at its three mines there. National Australia Bank Ltd. led the nation's banks lower on speculation they will have to raise more capital after St. George Bank Ltd. sold shares.

The Morgan Stanley Capital International Asia Pacific Index fell 0.5 percent to 161.58 as of 7:34 p.m. in Tokyo.

Japan's Nikkei 225 Stock Average slid 0.7 percent to 15,396.30, while the broader Topix index rose 0.1 percent. Benchmarks retreated in other markets open for trading, except Indonesia and Sri Lanka.

China's CSI 300 Index dropped 1.3 percent to 5,081.11, the biggest drop in a week, after a report that industrial production rose 17.9 percent in October reignited concerns the central bank will raise interest rates for a sixth time this year.

Shares fell in the U.S. yesterday, sending the Standard & Poor's 500 Index lower by 0.7 percent. Department stores and computer makers led the drop after Macy's Inc. cut its sales forecast.
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