Monday, June 3, 2013

(BN) Asian Stocks Fall as Improving U.S. Data Stokes Fed Exit Concern

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Asian Stocks Fall as Improving U.S. Data Stokes Fed Exit Concern
2013-06-03 00:18:46.19 GMT


By Yoshiaki Nohara
June 3 (Bloomberg) -- Asian stocks fell, with the regional
benchmark index heading for a third-day of losses, after
improving U.S. economic data added to concern the Federal
Reserve will scale back its stimulus.
Nissan Motor Co., a Japanese carmaker that makes 34 percent
of its sales in North America, slid 3.2 percent. BHP Billiton
Ltd., Australia's biggest oil producer, dropped 1.6 percent as
brent crude dropped below $100 a barrel. Cochlear Ltd. slumped
9.8 percent in Sydney after the maker of cochlear implant
systems for the hearing impaired revised fiscal year estimates
on slower growth in the U.S.
The MSCI Asia Pacific Index dropped 0.4 percent to 134.28
at 9:17 a.m. in Tokyo, before markets in Hong Kong and China
open. The measure declined 5.1 percent last month, the first
monthly drop in seven months.

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--Editor: John McCluskey

To contact the reporter on this story:
Yoshiaki Nohara in Tokyo at +81-3-3201-7446 or
ynohara1@bloomberg.net

To contact the editor responsible for this story:
Nick Gentle at +852-2977-6545 or
ngentle2@bloomberg.net

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