Asian stocks fell, with the regional gauge on course to decline for the first time in four days, after a report showed China��s bad loans jumped the most since 2005 and the yen strengthened amid concern about global growth.
The MSCI Asia Pacific Index declined 0.4 percent to 139.90 as of 9:02 a.m. in Tokyo, paring its weekly advance to 1.4 percent. Markets in Hong Kong and China are yet to open. Futures on the Standard & Poor��s 500 Index were little changed after the measure fell the most in a month yesterday.
Chinese banks had the biggest quarterly increase in bad loans since 2005 as an economic slowdown causes defaults to rise, a report showed yesterday. An unexpected drop in U.S. industrial output and weaker-than-projected growth in Europe also stoked concern over the global outlook, driving the yen to its strongest level in almost two months yesterday.
Japan��s Topix index sank 1.6 percent as the yen traded at 101.49 per dollar. South Korea��s Kospi index slid 0.4 percent. Australia��s S&P/ASX 200 Index fell 0.2 percent, while New Zealand��s NZX 50 Index dropped 0.4 percent.
Source : Bloomberg