Fall of Asian Stocks as U.S. credit Outlook cut; Oil price drop

April 19, 2011, 12: 09 pm EDT by Anna Kitanaka

April 19 (Bloomberg)--Asian stocks fell, leading the benchmark index to its largest decline since March, after that Standard & Poor ratings Service cut the long-term prospects of credit U.S., fueling concern that a recovery in the global economy could slow.

Toyota Motor Corp., Builder of no. 1 in the world, fell by 2.6% in Tokyo. BHP Billiton Ltd., more important of the Australia oil producer, fell by 1.8 per cent after oil and metals prices declined. Samsung Electronics Co. lost 0.6% in Seoul after Apple Inc. filed a lawsuit alleging infringement of trade mark. Advantest Corp., the second manufacturer of semiconductor test equipment, dropped 4% in Tokyo after Texas Instruments Inc. forecasts of revenue and profits that did not estimates of some analysts.The MSCI Asia Pacific Index fell 1.2% to 134.04 at 12: 55 pm in Tokyo, with approximately five shares for each abandonment which climbed on the gauge 1 023-member. The measure fell 0.5% last week, reversing three consecutive weeks of gains. "" If we get to a point where the United States has its debt downgraded, the deflationary effects will be felt in the world, "said based in Melbourne Tim Schroeders, of Pengana Capital Ltd., which manages approximately $ 1 billion. "A lot of credit is a price excluding U.S. denominated debt and these effects will be felt around the world."Nikkei 225 Stock average of the Japan fell by 1.2%. S & P/ASX 200 Index the Australia collapsed 1 percent and NZX 50 Index lost New Zealand 0.9%. The southern ABN Korea index slipped 0.5%.Hong Kong Hang Seng index fell 1.3% while Shanghai Stock Exchange index Composite China fell by 1.9%.U.S. FuturesFutures on Standard & Poor of 500 index fell 0.5% today. In New York yesterday, the S & P 500 lost 1.1%, the largest decline since March, after S & P lowered its Outlook on U.S. credit outlook to "negative".Toyota, which account in North America as its largest market, fell by 2.6% in yen, the biggest drag on the MSCI index of Asia Pacific. Canon Inc., manufacturer of camera more, sank at 1.8% covering of yen. In Sydney, James Hardie Industries SE, the largest seller of siding home in the United States, refused to 2.7% for risk of Government 5.84.The U.S. $ losing its AAA credit rating, unless decision makers to agree on a plan in 2013 to reduce budget deficits and national debtthe rating agency said. "Medium term" concerns & P has said there is a chance of one to three that the rating may be cut in two years and that its "basic assumption" is that the Congress and the administration of Obama will come to terms on a record deficit-reduction plan. " "It is clearly a concern about how the United States manages the debt in the medium term," said Schroeders.BHP decreased by 1.7 per cent to $46.69, the second most large drag on the MSCI index of Asia Pacific. " Rio Tinto Group, society of second mining of the world by sales, fell by 2.1% to a $82.27. Inpex Corp., of Japan more great oil and gas Explorer, dropped by 2 percent to 586,000 yen.For may delivery slipped 2.3% to $107.38 per barrel in New York, close to a minimum of three days after China, second more large consuming nation in the world crude, increased Bank reserve requirements to cool inflationdemand of fuel traffic growth may slow down of crude oil. The London Metal Exchange Index six metals collapsed 1.9% yesterday, the lowest since March 16 the MSCI Asia Pacific Index lost 1.5 percent this year through yesterday, compared to earnings of 3.8%, the S & P 500 and 1 per cent by the Stoxx 600 Index of Europe. In the Asian benchmark stocks are valued at 13 times on average earnings, estimated by comparison with 13.4 times for the & S P 500 and 10.9 times for Stoxx Apple 1600 continues SamsungSamsung Electronics, largest maker of chipsflat screens and mobile phones in Asia, fell by 0.6% to 862,000 won in Seoul, the heavier second drag on the index ABN. Apple Inc. filed a lawsuit claiming the Galaxy of the Samsung Electronics phones and computers tablet of Galaxy tab are infringement of patents and the look of the iPhone and iPad.Other also declined after Texas Instruments Inc. chipmakers trade mark., the largest manufacturer of analog chips, forecasts second-quarter revenue and profit which did not estimates of some analysts as weak demand Japanese and the decline of the mobile phone chip poorly sales orders.Advantest declined 4% at 1,394 yen. Elpida Memory Inc., the third manufacturer of memory the computer dropped from 4.5 per cent to 1,120 yen. Taiwan Semiconductor Manufacturing Co., manufacturer of larger chips contract of the world, slid by 1.2% to NT$ 68.2.Texas Instruments, whose earnings provide a broad application across the electronics industry guide, said March 11 earthquake and tsunami to slow Japan local demand and cut output to factoriesthat it operates, and those of its customers and suppliers. The disaster of cost of the company 20 million of revenue in the first quarter. Sales of so-called baseband chips used in mobile phones also declined.

-With the help of Norie Kuboyama in Tokyo. Editor: Nick Gentle.

To contact the reporter on this story: Anna Kitanaka in Tokyo, at akitanaka@bloomberg.net.

To contact the responsible editor of the story: Nick Gentle at ngentle2@bloomberg.net

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