Most Asian Stocks Fall on U.S. Debt Concern; Exporters Drop

Most Asian stocks dropped, led by exporters and banks, as a political stalemate over raising the U.S. debt ceiling increases concerns the world’s biggest economy could default, stalling the global economic recovery.

Samsung Electronics Co., a South Korean consumer and industrial electronics maker that gets about 85 percent of its revenue abroad, lost 0.6 percent in Seoul. Mitsubishi UFJ Financial Group Inc., Japan’s biggest listed lender, dropped 0.7 percent. Japan Tobacco Inc., Asia’s largest-listed tobacco company by market capitalization, jumped 4.7 percent in Tokyo. Catcher Technology Co. advanced for a second day in Taipei after reporting a gain in net income. Sands China Ltd., Asia’s No. 1 casino operator by market value, surged 9.9 percent after reporting second-quarter profit doubled.