Asian Stocks Fall as Global Recession Deepens;

March 2 (Bloomberg) -- Asian stocks tumbled, dragging the Nikkei 225 Stock Average down the most in six weeks, and U.S. futures fell as declines in Japanese wages and South Korean exports fueled concerns the global recession is deepening.

“We don’t know yet how long this global recession will last,” said Hisakazu Amano, head of fund management at Tokyo- based T&D Asset Management Co., which oversees about $39 billion. “With the market dominated by an atmosphere of malaise and despair, there are few people who dare to buy.”

The MSCI Asia Pacific Index dropped 3.6 percent to 72.48 at 2:13 p.m. in Tokyo. The gauge has fallen 19 percent in 2009, extending last year’s record 43 percent tumble, as recessions in the world’s largest economies hurt earnings at companies from BHP to Toyota Motor Corp., the world’s largest automaker.