Asia Stocks Pare Best Monthly Advance Since 2013 on Fed Concern

Asian stocks dropped the most since January after the Bank of Japan refrained from boosting stimulus and as the Federal Reserve downplayed weak U.S. economic growth and kept raising interest rates on the table for later this year.

Honda Motor Co. slumped 6.7 percent in Tokyo, the most in six years, after projecting profit that fell short of estimates. Takeda Pharmaceutical Co. slid 2.1 percent after saying it will take a $2.7 billion charge to resolve lawsuits over its Actos diabetes medicine. Industrial & Commercial Bank of China Ltd. fell 1.9 percent in Hong Kong after the world’s biggest lender posted its weakest first-quarter earnings growth on record.