Asian Stocks Slip on Europe Concern; BOJ Move Buoys Japan Shares

Asian stocks fell after Moody’s Investors Service cut credit ratings of six European countries, reigniting concern the region may not contain its debt crisis. Japanese equities reversed losses after the central bank unexpectedly increased asset purchases.

Cosco Pacific Ltd., which operates container facilities at Greece’s Piraeus port, fell 1.9 percent in Hong Kong. E Ink Holdings Inc., which makes screens for Amazon.com’s handheld reader, slumped 6.2 percent in Taiwan. Mitsubishi UFJ Financial Group Inc. advanced 1.3 percent after the Bank of Japan expanded an asset-purchase program to buoy growth