Asian Stocks Fall for First Time in Six Days After Commodities Prices Drop

Asian stocks fell, dragging down the MSCI Asia Pacific Index for the first time in six days, as a decline in commodity prices sent material companies lower.

BHP Billiton Ltd., the No. 1 mining company worldwide and Australia’s largest oil producer, slid 0.4 percent in Sydney after crude and metals prices slumped. Rio Tinto Group, the world’s third-biggest miner, lost 0.4 percent. Commonwealth Bank of Australia led the country’s banks lower, retreating 1 percent. Samsung Electronics Co., Asia’s biggest maker of semiconductors, fell for a second day after profit missed analysts’ estimates.

“A long rally in commodities stopped and commodity-related shares will likely get sold,” said Juichi Wako, a senior strategist at Tokyo-based Nomura Holdings Inc.

The MSCI Asia Pacific Index fell 0.3 percent to 130.16 as of 9:35 a.m. in Tokyo, with about as many shares declining as advancing. The gauge is headed toward a 2.5 percent increase this week, the most since the week ended Sept. 3, on speculation central banks worldwide will boost measures to aid the economic recovery.

Japan’s Nikkei 225 Stock Average lost 0.2 percent. South Korea’s Kospi index slipped 0.2 percent and Australia’s S&P/ASX 200 Index fell 0.3 percent.

Futures on the Standard & Poor’s 500 Index were little changed. The index decreased 0.2 percent yesterday in New York as mining and energy companies fell, and PepsiCo Inc., the world’s largest snack-food producer, lowered the top end of its annual profit forecast.

Commodities, Currency

Crude oil for November delivery fell 1.9 percent to $81.67 a barrel yesterday, retreating from a five-month high. The London Metal Exchange Index of six metals including aluminum and copper dropped 2.3 percent, the steepest decline since July 16.

The MSCI Asia Pacific Index has risen 8.1 percent this year on speculation growth in profit will weather Europe’s debt crisis, Chinese steps to curb property-price inflation and concern about the pace of the U.S. economic rebound. Stocks in the gauge trade at 14.4 times estimated profit on average, compared with 13.8 times for the S&P 500 and 12 times for the Stoxx Europe 600 Index.