Decline in Asian Stocks after Reliance, Acer Profits Miss estimates

April 25, 2011 3: 52 pm EDT by Anna Kitanaka and Kana Nishizawa

April 25 (Bloomberg)--Asian stocks fell, dragging benchmark down more than a week after gains Acer Inc. and of Reliance Industries Ltd. missed Analyst estimates.

Acer, the second largest world supplier of portable computers, lost 3.1 percent in Taipei. Reliance Industries, most large company of the India by the value of market, fell by 3% in Mumbai. Baoshan Iron & Steel Co. led lower Chinese steelmakers on the acceleration of inflation will affect the economic growth of speculation. Honda Motor Co., second largest constructor of the Japan, sank to 1.3% after domestic production collapsed last month.The MSCI Asia Pacific Index dragged 0.3 per cent to 138.46 at 4: 37 a.m. in Tokyo, with approximately four actions under all three have increased. The previously acquired gauge 0.1%. Australia, New Zealand and Hong Kong stock markets are closed for a holiday. After the closing in Tokyo today, Nintendo Co. forecast profit that missed estimates and KDDI Corp. said annual profit will fall 2 percent this fiscal year. "" People waiting for earnings announcements this week before investing, "said Naoki Fujiwara, which helps to oversees the $ 6 billion in Tokyo to Shinkin Asset Management Co." "with the Japan on the head to his Golden Week holidays and with many other markets fermésNous we will probably not see exciting developments in the market." "Shanghai China Composite Index sank to 1.5%, while that the Nikkei 225 Stock average Japanese lost 0.1%. Index of ABN of the Korea in the South increased by 0.8%. VN index of advanced Viet Nam 2%, the most among indexes reference Asia-Pacific, as the currency of the country climbed the most since 2008.U.S. FuturesFutures on the Standard & Poor 500 Index rose 0.2%, following a holiday on April 22. A report of the Government now can show sales of the country rose 12 percent in March, a survey of economists compiled by Bloomberg. Japanese retail reports, U.S. orders of durable goods and gross domestic product are also due this week.The MSCI Asia Pacific Index climbed 0.8 percent this year through April 21, from the earnings of 6.3 S & P 500% and 1.7% by the Stoxx 600 Index of Europe. Stocks in the Asian tonnage was estimated at 13.2 times considers average as of the end of the last earnings, compared with 13.7 for the S & P 500 and 11.3 times for 1600 Stoxx technology shares were the biggest drags on the MSCI index of Asia Pacific. Acer lost 3.1 percent to NT$ 49.5 after first-quarter net income fell 64 percent to NT $ 1.2 billion ($42 million). The estimate of the average analyst for the benefit of NT 1.74 billion, according to data compiled by Bloomberg.Reliance, PoscoReliance Industries has dropped from 3% to 1,009.2 rupees in Mumbai after reporting a 14% increase in the net result of 53.8 billion rupees ($1.2 billion) in the three months to March 31. Profit missed average estimates billions of 54, 3-rupee of 18 analysts in a survey of Bloomberg.POSCO, the third largest producer of steel in the world by the production fell 1.9% at 472,000 won in Seoul after Q1 profit collapsed 33 percent as raw materials costs have increased.In China, denied that the increase in the price of oil has fueled the inflation of the concern of the actions will accelerate and monetary tightening measures will increase. Crude rose high $113.07 per barrel in New York, intraday prices highest since 11 April Baoshan Steel lost 2.7 per cent to 7.12 yuan. "Anhui conch Cement Co., the largest cement manufacturer, fell 2.8 percent to 38.88 yuan in Shanghai, Sany heavy industry Co., the largest manufacturer of machines for the manipulation of concrete, 4.1 yuan 18.52% remote."Inflation is still the major concern and there is no sign that the Government will relax its tightening, said Wu Kan, a Fund Manager at the Dazhong insurance company, who oversees the $ 285 million. "The tightening retains the assessments of stocks."Central Bank PoliciesThe Shanghai Composite rose 5.6% this year on speculation that the Government to cool inflation without triggering a slowdown in economic growth. The Central Bank raised the ratio of the requirement to reserve 10 times since the beginning of 2010 and interest rates increased four times to cool inflation as consumer prices rose at the fastest pace since 2008 in constructors March.Japanese falls today after report domestic production for March, the month, an earthquake of magnitude 9 record and disturbed tsunami strings supply for manufacturers of the nation.Honda, who reported a slump of 63 per cent in production last month, fell by 1.3% to 3,105 yen, the third most large drag on the MSCI index of Asia Pacific. Toyota Motor Corp., the world largest manufacturer, fell by 0.6% to 3.275 yen after it said global production fell by 30%.Save sales "supply chains were torn from their roots," said Yoshifumi Kikuchi, head of the seizure in Nissan century Securities Co. in Tokyo. "It's always step clear if builders can get the parts that they need."South Korea, Kia Motors Corp., Builder of no. 2 in the nation, advanced 3.2% to 80,500 won after Yonhap News reported the company had sold a record number of vehicles in the first quarter. Hyundai Motor Co., more great constructor of South Korea, advanced 5.6% won 246, 000.Tokyo Electric Power Co., the operator of a nuclear power plant explosion by the earthquake and tsunami in the Japan last month, jumped 8.4 percent Yen 438. First step of the shares in eight days was also the largest in the Nikkei 225.A plan of Government to compensate the victims of the nuclear accident of Fukushima does not imply usefulness, publication the Nikkei newspaper reported on April 23, Mitsubishi UFJ Financial Group Inc.., who is the owner of 13.2 million shares Tokyo Electric, gained 1.1% 379 yen. Sumitomo Mitsui Financial Group Inc. increased 0.8% to 2,455 yen. The company holds shares Tepco 35.9 million, or 2.2 per cent of the utility.

-With the help of Akiko Ikeda and Toshiro Hasegawa in Tokyo, Zhang Shidong in Shanghai. Editors: Darren Boey, Shiyin Chen

To contact the reporters 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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