Samsung Electronics Co. (005930), a South Korean consumer electronics maker that gets about 20 percent of sales from Europe, slid 1.6 percent. AOC Holdings Inc., an oil and gas explorer, declined 8.8 percent in Tokyo after cutting its full- year net income forecast by 55 percent. Rio Tinto Group, the world’s third-biggest mining company, dropped 2.2 percent in Sydney after posting a second-half loss.

“Greece reached some sort of agreement, but it’s still up for negotiation whether the rest of the European authorities will accept that agreement,” said Stephen Halmarick, Sydney- based head of investment markets research at Colonial First State Global Asset Management, which oversees about $150 billion.

The MSCI Asia Pacific Index (MXAP) slipped 0.6 percent to 125.92 as of 9:34 a.m. in Tokyo, with about two shares falling for every each that rose. The gauge is heading for its eighth consecutive week of advance, the longest winning streak since December 2005, on improving U.S. economic data, efforts to contain Europe’s sovereign-debt crisis and signs China will act to support growth.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

http://www.bloomberg.com/news/2012-02-10/asian-stocks-decline-as-european-leaders-hold-back-greek-debt-rescue-aid.html

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