Market Report - Asia Stocks Down

Growing concerns about the U.S. economic recovery and Wall Street's worst trading day in a month helped to send Asian shares lower today.

Weak U.S. manufacturing pushed metals and oil prices down, weighing on resource-linked regional stocks like Australian miner BHP Billiton.

Oil declined for a third day to near $70 a barrel, after touching an
8-month peak last week.

The Nikkei declined broadly with gas explorer Inpex dipping and technology shares falling again.

The Bank of Japan held interest rates steady in the world's No.2 economy, but upgraded its economic view for the second straight month.

In South Korea, steelmakers eased with commodities prices, while Samsung Electronics dipped after losing a battle with Japan's Sharp over LCD patent technology.

Sharp was also broadly lower despite the decision by a U.S. International Trade Commission judge, which followed the Japanese electronics firm filing suit for patent infringement in March 2008.

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News & Politics

Tags:

• Growing
• concerns
• U.S.
• economic
• Wall
• Street's
• worst
• trading
• manufacturing
• metals
• prices
• Australian
• miner
• BHP
• Billiton.