Asian Banks Stocks Fall; Macquarie Drops as STX Pan Ocean Gains

May 20 (Bloomberg) -- Asian financial stocks declined after Macquarie Group Ltd. reported profit that missed estimates and Citigroup Inc. lowered its earnings forecast for Goldman Sachs Group Inc. and other U.S. brokerages.

Macquarie, Australia's largest securities company, fell the most in two weeks. Mitsubishi UFJ Financial Group Inc. dropped in Tokyo ahead of the release of full-year results today. STX Pan Ocean Co., South Korea's largest shipping line, led gains by dry- bulk operators after rates to transport coal, iron ore and other commodities rose to a record.

Source: Bloomberg


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