Asian Stocks Slump as U.S. Production Drops, Commodities Fall

Nov. 18 (Bloomberg) -- Asian stocks retreated to a three- week low on concern the slowing global economy is stifling the outlook for profits.

``We are seeing U.S. economic numbers break one bad record after another,'' Tsuyoshi Kawata, a senior strategist at Tokyo- based Nikko Cordial Securities Inc., said in an interview with Bloomberg Television. ``The slump in the U.S. economy will surely be substantial.''

The MSCI Asia Pacific Index lost 1.1 percent to 81.87 as of 9:56 a.m. in Tokyo, set for its lowest close since Oct. 10. More than two stocks fell for each that rose and nine of the 10 industry groups declined.