The Nikkei and Shanghai Escapes Downside Action; the Rest Fall on Weak Commodity Prices

“Asian stocks declined, with a regional benchmark index falling the most in three weeks, as raw material producers fell andAustralia & New Zealand Banking Group Ltd. and Hon Hai Precision Industry Co. posted earnings that missed analysts’ estimates.

BHP Billiton Ltd. (BHP), the world’s biggest mining company and Australia’s No. 1 oil and gas producer, and rival Rio TintoGroup fell at least 0.7 percent after crude and copper futures declined. ANZ Bank lost 2.1 percent. Hon Hai, the largest global contract maker of electronics, slipped 2.3 percent in Taipei. HTC Corp. (2498), the Taiwanese smartphone maker, tumbled 6.9 percent after HSBC Holdings Plc and Credit Suisse Group AG cut their ratings on the stock….”

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