Asian Stocks Retreat as Japanese Banks Fall on Earnings

Asian stocks fell, with the regional gauge retreating from a five-year high, as a drop in Japanese banks after forecasting lower earnings offset a report that Japan’s economy expanded faster than analysts estimated.

Mitsubishi UFJ Financial Group Inc. sank 3.6 percent, leading Japanese lenders lower. Daewoo Shipbuilding & Marine Engineering Co., South Korea’s third-biggest shipbuilder, fell 10 percent as first-quarter profit plunged. Tokyo Electric Power Co. surged 19 percent, leading Japanese utilities higher.