April 11, 2012 11:06 am

Asia stocks fall in wake of global losses

Asian equities declined after a torrid session in Europe and the US overnight.

The FTSE Asia Pacific index was down 0.6 per cent in late Asian trade at 238.05. The index has declined in all but one of the past six trading sessions.

The Hang Seng retreated 1.1 per cent in Hong Kong to 20,140.67.

Luggage maker Samsonite shed 7.8 per cent to HK$14.42 after a HK$1.7bn share sale by Royal Bank of Scotland and private equity fund CVC Capital Partners.

Stocks with exposure to Europe were hit. Fashion retailer Esprit Holdings, which derives four-fifths of its revenues from Europe, fell 3.2 per cent to HK$16.22.

In Sydney the S&P/ASX 200 fell 1.1 per cent to 4,246.1 as energy and other mineral-related stocks fell in response to a drop in oil and commodity prices.

AWE, the oil and gas exploration company, fell 5.6 per cent to A$1.77, while rival Aurora Oil fell 2.2 per cent to A$3.59. Ausdrill, the oilfield services provider, lost 3 per cent to A$3.83.

Tokyo’s Nikkei 225 Average dropped 0.8 per cent to 9,458.74, led by games console maker Sony, which tumbled 4.5 per cent to Y1,515.

The electronics and entertainment group confirmed a newspaper report from Tuesday, saying it expected to make a Y520bn ($6.4bn) net loss for its just-ended financial year, its worst deficit ever.

Elsewhere in the region, South Korea’s Kospi index eased 0.1 per cent lower to 1,994.41, while India’s BSE Sensex shed 0.4 per cent to 17,171.15.

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