| Asian stocks slumps as U.S. home loan crisis spreads |
BEIJING, Aug. 2 -- Asian stocks slumped, extending a global equities rout, after Macquarie Bank Ltd and Bear Stearns Cos said funds may post losses as the U.S. subprime mortgage crisis spreads.
Macquarie, Australia's largest securities firm, fell the most in five years after saying investors in some of its funds may lose as much as 25 percent of their money, Bloomberg News reported. Bear Stearns Cos blocked investors from pulling money out of a fund, sending U.S. share futures lower.
Mizuho Financial Group Inc, Japan's second-biggest lender by assets, tumbled after saying first-quarter profit fell by half. Sony Corp led declines among exporters following fears that the U.S. housing rout will dent consumer spending.
The Morgan Stanley Capital International Asia Pacific Index declined 2.6 percent to 151.89 at 6:10 p.m. in Tokyo Wednesday, set to close at its lowest since June 27. All Asian markets fell, except in Vietnam. Taiwan's Taiex Index plunged 4.3 percent, the biggest drop in the region. Australia's S&P/ASX 200 Index lost 3.3 percent, the most since September 17, 2001.
Japan's Nikkei 225 Stock Average slid 2.2 percent to 16,871.00.
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