By Kyung Bok Cho
Oct. 15 (Bloomberg) -- Asian stocks declined, a day after the region's benchmark index rallied the most in a decade, as concern earnings will deteriorate overshadowed a $2 trillion global push to rescue banks.
Posco lost 5.3 percent after saying demand will decline this quarter as the global financial crisis saps demand. Samsung Electronics Co. declined 2.5 percent after Elpida Memory Inc., Japan's largest maker of computer-memory chips, reported a loss. BHP Billiton Ltd. dropped 3.4 percent after oil fell.
``Investors are keen to see if stock markets can sustain their rally against the outlook for a worsening economy,'' Hiroichi Nishi, an equities manager at Tokyo-based Nikko Cordial Securities Inc., said in an interview with Bloomberg TV.
The MSCI Asia Pacific Index lost 1 percent to 95.64 as of 9:45 a.m. in Tokyo, led by commodity producers and consumer discretionary stocks.
Japan's Nikkei 225 Stock Average was down 1 percent at 9,377.20. Markets also declined in South Korea and Australia.
Standard & Poor's 500 Index futures lost 1.2 percent. The S&P fell 0.5 percent to 998.01 yesterday, after gaining the most since the 1930s the previous day.
To contact the reporter for this story: Kyung Bok Cho in Seoul at kcho7@bloomberg.net
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