James Hardie Industries SE (JHX), an Australian supplier of building materials that gets more than half of its sales from the U.S., slid 1.4 percent in Sydney. LG Chem Ltd. (051910), South Korea’s biggest chemicals maker, sank 6.6 percent in Seoul after its profit dropped 42 percent in the first quarter. JFE Holdings, Inc., the second-largest Japanese steelmaker, slid 3 percent in Tokyo after a report it may increase borrowing to invest in building mills. AIA Group Ltd. may be active today in Hong Kong after the insurer said its value of new business rose.

The MSCI Asia Pacific Index (MXAP) declined 0.3 percent to 124.38 as of 9:34 a.m. in Tokyo before markets open in Hong Kong and China. About five stocks fell for every three that rose and the gauge, which is headed for a 0.5 percent decline this week. In the U.S., reports showed sales of previously owned homes in March unexpectedly fell, while more Americans than forecast filed applications for unemployment benefits last week.

“Investors may see poor U.S. economic data as a reason to sell shares in the short term,” said Makoto Sengoku, a Tokyo- based market analyst at Tokai Tokyo Securities Co.

The Asia-Pacific gauge, which includes companies from some emerging markets, pared its gains to 9.6 percent this year through yesterday, as U.S. and China’s economic reports showed signs of a slowdown, and amid renewed concern about Europe’s debt crisis.

Japan’s Nikkei 225 Stock Average fell 0.3 percent with volume 36 percent lower than its 30-day average at the time. South Korea’s Kospi index sank 1.1 percent, while Australia’s S&P/ASX 200 Index slid 0.1 percent.

To contact the reporters on this story: Kana Nishizawa in Hong Kong atknishizawa5@bloomberg.net; Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net

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

http://www.bloomberg.com/news/2012-04-20/japanese-stock-futures-fall-on-u-s-earnings-europe-woe.html

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