Asia Stocks Fall as Earnings Disappoint, Investors Digest Fed
- Fed officials say they're considering a move at `next' meeting
- China Life, Woolworths shares slide in Hong Kong and Sydney
Asian stocks fell for a third day after the Federal Reserve signaled it’s prepared to raise interest rates as soon as December and results at companies from China Life Insurance Co. to Woolworths Ltd. disappointed investors.
China Life slid 5.4 percent in Hong Kong after posting a 74 percent fall in profit. Nintendo Co. slumped 9 percent after the company said its new smartphone game application won’t be released until March, at least three months later than originally promised. Woolworths tumbled 9.8 percent after Australia’s largest supermarket chain said its key measure of sales in the first quarter fell at the fastest rate in records dating back to at least 2005. Samsung Electronics Co. gained 1.3 percent after the mobile phone maker said it will buy back and cancel 11.3 trillion won ($10 billion) of shares.