Asian Stocks Post Biggest Decline in 7 Months

Posted by Bloomberg News

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Asian stocks declined, with the region’s benchmark index posting its biggest loss since June, as concern that the global economic recovery is faltering spurred investors to sell riskier assets.

The MSCI Asia Pacific Index dropped 2.2 percent to 134.62 at 7:59 p.m. in Tokyo to its lowest level since Sept. 6. The gauge declined for the past four weeks. Japan’s Topix index sank 2.8 percent today. Global stocks tumbled the most since June on Jan. 24 as a selloff in emerging-market currencies prompted investors to seek havens.

“Optimism among global stock investors is waning,” said Tetsuo Seshimo, a Tokyo-based portfolio manager at Saison Asset Management Co., which oversees about $791 million. “Markets are losing momentum after rising a lot toward the end of last year.”

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