Asian Stocks Fall on Australia Banks; Japan Shares Climb

Asian stocks declined, extending losses from the biggest decline in a year and a half, as Australian banks fell. Japan shares rose on a volatile day of trading after the biggest rout since the March 2011 earthquake.

Commonwealth Bank of Australia, the country’s largest lender, fell 1.4 percent, as Australian shares posted the largest weekly drop in a year. Lenovo Group Ltd., a computer maker with $3 billion in cash reserves, added 3.8 percent in Hong Kong after saying it sees no limit to the size of acquisitions to bolster its smartphone and tablet businesses. Tokyo Electric Power Co. led Japanese utilities to the biggest advance on Japan’s Topix Index, which climbed from a plunge that yesterday erased $314 billion from the market value of the nation’s stocks.