Skip to content
Subscriber Only
Business
Economics

Asian Stocks Slide on U.S. Economic Data, Europe Concern

Asian stocks fell for the fourth day this week, as the Group of 20 nations warned Europe’s debt crisis still threatens global growth, and as U.S. economic data signaled the recovery in the world’s largest economy is slowing.

Esprit Holdings Ltd., a clothier that depends on Europe for about 80 percent of its sales, fell 1.3 percent in Hong Kong. James Hardie Industries SE, an Australian supplier of building materials that gets more than half of its sales from the U.S., slid 1.1 percent in Sydney. LG Chem Ltd. sank 9.2 percent in Seoul after the chemical maker’s profit slumped. JFE Holdings, Inc., the No. 2 Japanese steelmaker, slid 3.3 percent in Tokyo after a report it may increase borrowing for investment.