Monday, October 29, 2007

Asian Stocks Fall; Takeda Pharmaceutical, Kookmin Bank Decline

By Hanny Wan

Oct. 30 (Bloomberg) -- Asian stocks fell, dragging a regional benchmark from a record. Takeda Pharmaceutical Co., Japan's biggest drugmaker, led declines on concern one of its experimental medicines will be delayed.

Kookmin Bank, South Korea's largest lender, had its biggest decrease in two weeks after the company reported profit that was short of analysts' estimates. BHP Billiton Ltd. paced declines among miners after metals prices slipped. Toshiba Corp. fell after brokerages including UBS AG cut their ratings on the stock.

The Morgan Stanley Capital International Asia-Pacific Index slid 0.2 percent to 171.46 as of 9:57 a.m. in Tokyo, with six of 10 industry groups declining. Japan's Nikkei 225 Stock Average fell 0.5 percent to 16,614.83.

South Korea's Kospi index slipped 0.4 percent. Key stock indexes in all Asian markets open for trading in the region declined.

No comments: