Asian Stocks Fall, Pare Monthly Gain, as Tech Shares Drop
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Asian stocks dropped, with the regional benchmark index paring its third straight monthly gain, as technology shares from Samsung Electronics Co. to Nintendo Co. declined.
Samsung sank 3.7 percent in Seoul as the world’s biggest maker of smartphones posted net income that missed estimates amid competition from Apple Inc. and Chinese producers. Nintendo slumped 6.5 percent in Tokyo after the maker of Wii gaming consoles reported its third loss in the past four quarters. Singapore Airlines Ltd. slid 2.6 percent after Asia’s second-largest carrier by market value posted weaker earnings.