i Develop Stocks Advisory

Asian Stocks Decline, Reversing Gains Asian stocks fell, reversing earlier gains, after Chinese Premier Wen Jiabao said his government will take ``forceful'' measures to combat inflation. China Mobile Ltd., the world's largest wireless company by users, slumped in Hong Kong on speculation China will raise interest rates, slowing the world's fastest-growing major economy. BHP Billiton Ltd., the world's largest mining company, tumbled after copper and aluminum prices declined. The MSCI Asia Pacific Index lost 0.4 percent to 131.82 as of 12:40 p.m. in Tokyo. The benchmark, down 17 percent this year, erased an earlier 1 percent climb after Wen's statements, made to reporters in Beijing today. ``The official comment has renewed the mounting concerns around the market that corporate earnings growth will slow down, because of the Chinese government's tightening measures,'' said Lu Yizhen, who helps manage the equivalent of $640 million at Citic-Prudential Fund Management Co. in Shanghai. China's CSI 300 Index slumped 3 percent, while Hong Kong's Hang Seng Index tumbled 1.7 percent. Japan's Nikkei 225 Stock Average added 0.4 percent to 11,838.34. Mitsubishi UFJ Financial Group Inc. rose as the cost to protect Japanese corporate bonds declined.