Asian Stocks Fall on U.S. Concerns; ANZ, Sumitomo Lead Decline

July 10 (Bloomberg) -- Asian stocks fell, led by banks and technology companies, on concern continued turmoil in financial markets and a slowdown in the U.S. economy will erode earnings.

Australia & New Zealand Banking Group Ltd. and Sumitomo Mitsui Financial Group Inc. declined, following a slump in U.S. financial shares on concern the largest mortgage finance companies may not weather the housing slump. Advantest Corp., the world's biggest maker of memory-chip testers, fell after Merrill Lynch & Co. said slowing demand will hurt Intel Corp.'s earnings.

Source: Bloomberg


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