Mazda Motor Corp. (7261), an automaker that gets 18 percent of sales from Europe, dropped 1.5 percent in Tokyo. Sony Corp. and Sharp Corp., Japan’s biggest makers of liquid-crystal-display televisions, fell more than 3 percent after announcing record losses amid declining global television sales and a strong yen. Asciano Ltd. slid 1.1 percent in Sydney after the cargo handler said it failed to reach an agreement with a port worker union.

“Spain is in a very difficult situation and more likely than not to require some type of official intervention at some point,” said Stephen Halmarick, Sydney-based head of investment markets research at Colonial First State Global Asset Management, which oversees about $150 billion. “Europe is still 20 percent of the world economy and obviously a big customer of Asia.”

The MSCI Asia Pacific Index (MXAP) dropped 0.6 percent to 123.18 as of 9:42 a.m. in Tokyo. The gauge has fallen about 2.1 percent this month through yesterday as Spain struggled to sell bonds last week, renewing concern Europe won’t be able to contain its debt crisis and a report showed U.S. employers added fewer jobs than forecast in March.

To contact the reporters on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net; Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net

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

http://www.bloomberg.com/news/2012-04-11/asian-stocks-drop-for-sixth-day-on-europe-debt-concerns.html

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