Most Asian stocks fell, with a regional equities gauge declining a second day, as investors await a report that is forecast to show China’s economy slowed in the second quarter.
LG Display Co. (034220), the No. 2 maker of flat-panel displays, dropped 3.2 percent in Seoul as analysts at Samsung Securities downgraded its recommendation on Korean technology shares. Treasury Wine Estates Ltd. (TWE), the world’s second-biggest listed winemaker by revenue, sank 6.7 percent in Sydney after saying earnings will be in line with estimates.
The MSCI Asia Pacific excluding Japan Index slid less than 0.1 percent to 438.87 as of 10:23 a.m. in Sydney, as two three shares retreated for each two that rose. The measure declined 5.8 percent this year through last week as China’s money-market rates surged to a record and after Federal Reserve Chairman Ben S. Bernanke said policy makers may start reducing stimulus if the U.S. economy shows sustained improvement.
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