Asian equities slide on US stimulus concerns

Nikkei: 8,943.76 (–113.50) Hang Seng: 20,016.27 (–272.76) Shanghai Comp: 2,559.47 (–41.79)

ASIAN STOCKS fell for the first time in four days yesterday, after two Federal Reserve officials questioned the amount of stimulus being applied to the world’s biggest economy.

“The fear is that if you remove all stimulatory measures, the US economy may sink,” said Jason Teh, who helps manage about $3 billion at Investors Mutual in Sydney.

Honda fell 1.9 per cent to ¥2,503 in Tokyo and Sony lost 2.1 per cent to ¥1,651.

Esprit declined 2.3 per cent to HK$21.30 in Hong Kong.

Technology stocks were the biggest drag on the Asia-Pacific gauge as Samsung Electronics, which gets a fifth of its sales from America, slumped 6.1 per cent to 706,000 won in Seoul.

LG Electronics fell 4.8 per cent to 59,200 won. LG Display, which receives more than 90 per cent of its revenue from overseas, slid 7.6 per cent to 19,550 won.

Hynix Semiconductor, a computer-memory chipmaker, slid 11 per cent to 17,500 won.

BHP, the world’s top mining company, lost 1.9 per cent to A$39.05 in Sydney and rival Rio Tinto fell 1.7 per cent to A$73.17. – (Reuters)