Asian Stocks Post Weekly Drop On Global Slowdown Concern

Asian stocks declined for the first week in four, with the region’s benchmark index retreating from the highest level since May, on signs of slower growth in the U.S. and China and amid concern Europe’s leaders aren’t making progress in solving the region’s debt crisis.

Nissan Motor Co., a Japanese carmaker that counts North America as its biggest market, fell 3.8 percent in Tokyo after U.S jobless claims rose more than expected. Aluminum Corp. of China Ltd. fell 2.1 percent in Hong Kong after Dallas Federal Reserve economists said overstated data may have masked the severity of China’s slowdown. Makita Corp., a Japanese maker of power tools that depends on Europe for more than 40 percent of sales, slid 2.6 percent.