BHP Billiton, the world's largest mining company, and Sumitomo Metal Mining Co, Japan's biggest gold producer, both tumbled the most in six weeks after prices of gold and copper declined and Sumitomo said profit will drop.
The MSCI Asia Pacific Index fell 0.5 per cent to 150.24 as of 4:32 pm in Tokyo, with a group of raw-materials producers dropping the most among its 10 industry segments. The measure has gained 7.8 per cent in April, its biggest monthly advance since September 2005.
Most Asian benchmark indexes retreated. The Nikkei 225 Stock Average fell 0.3 per cent to 13,849.99 in Tokyo, paring gains in its best month since July 1995. Japan's exchanges were closed on Tuesday for a public holiday.
China's CSI 300 Index, whose 300 constituents aren't in MSCI's gauge, climbed 4.8 per cent on Wednesday, Asia's biggest gain. The Standard & Poor's Index slipped 0.4 per cent on Tuesday in the US, weighed down by commodities companies and as consumer confidence slid to a five-year low and property values slumped. S&P 500 futures rose 0.1 per cent on Wednesday.
Europe
European stocks declined for a second day, led by SAP AG after profit missed analysts' estimates. Alcatel-Lucent SA slipped as the company posted its fifth straight quarterly loss.Europe's Dow Jones Stoxx 600 Index lost 0.1 per cent to 320.35 at 10:04 am in London, after earlier gaining as much as 0.2 per cent. Futures on the Standard & Poor's 500 Index fell less than 0.1 per cent, and the MSCI Asia Pacific Index slipped 0.6 per cent.
SAP declined 4.2 per cent to 31.66 euros. The world's biggest maker of business-management software maker said first-quarter profit dropped 22 per cent to 242 million euros ($376 million).
US
US stocks fell as consumer confidence slid to a five-year low, property values slumped and a drop in oil and metal prices pushed commodity producers lower.
The Standard & Poor's 500 Index lost 5.43 points, or 0.4 per cent, to 1,390.94, its second straight decline. The Dow Jones Industrial Average slipped 39.81, or 0.3 per cent, to 12,831.94. The Nasdaq added 1.7, or 0.1 per cent, to 2,426.1. About five stocks fell for every three that rose on the NYSE.
