i Develop Stocks Advisory

Asian Stocks Fall on U.S. Recession Concern Asian stock fell, with the region's benchmark set for its seventh weekly drop this year, on renewed concern the U.S. will enter a recession. Toyota Motor Corp., the second-largest carmaker in the U.S. by sales, had its longest losing streak in almost five weeks, and Samsung Electronics Co. declined the most in more than a week after a U.S. manufacturing index slumped. Japan's KDDI Corp. led telephone stocks lower on concern a plan to waive calling fees for some customers will erode earnings. ``Stocks won't bottom out until economies start showing improvement,'' Yoshinori Nagano, who helps oversee about $70 billion at Daiwa Asset Management Co., said in an interview with Bloomberg Television. The MSCI Asia Pacific Index fell 1.2 percent to 142.82 at 11:24 a.m. in Tokyo. All 10 industry groups on the measure declined, with stocks that depend on consumer spending having the biggest percentage drop. The gauge is down 9.6 percent this year amid speculation the U.S. economy will fall into recession, denting demand for Asian goods. Japan's Nikkei 225 Stock Average slipped 1.9 percent to 13,423.94. All Asian benchmarks open for trading in Asia fell. Caltex Australia Ltd. had the biggest percentage decline on MSCI's Asian index after forecasting weaker profits from processing crude oil.