Asia Stocks Decline, Led by Banks on Subprime Loss Concerns

April 7 (Bloomberg) -- Asian stocks fell for a second day, led by banks on speculation profits will be eroded by losses in subprime mortgage-related investments.

Mitsubishi UFJ Financial Group Inc. dropped after the Nikkei English News said Japan's six major banks may report a 40 percent drop in combined profit. Australia & New Zealand Banking Group Ltd. declined after saying it expects to set aside A$975 million ($898 million) to cover bad debts.


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