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Asia stocks slid on Tuesday with financial shares down on credit fears. Large banks such as Mitsubishi UFJ tumbled even though fresh data showed Japanese lending logged its fastest growth in two years. The rising cost of commodities means firms were borrowing to buy materials used in making cars and and other products. Analysts expect lending will weaken in coming months due to slowing consumer demand, especially in the property sector. While car sales weaken in many parts of the world -- China is seeing signs of steady growth. U.S. carmaker Ford said it had posted a 21 percent gain in first half China sales. China is one of the fastest growing car markets in the world -- with newly wealthy consumers buying shiny new vehicles. Toyota this week also announced it was investing to double its production capacity in China. Also in Beijing investor optimism as workmen put the finishing touches on a $40-billion dollar investment in the city's infrastructure one month before the...
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Asia stocks fall

Asia stocks slid on Tuesday with financial shares... (more)
Channel:MediaScrape Category:Business Views:6
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