Nikkei: 9,411.28 (–163.04) Hang Seng: 21,953.11 (–390.66) Shanghai Comp: 2,664.42 (–41.02)THE FALLOUT from the global malaise of slowing growth and the mounting euro zone debt crisis pushed Asian stocks sharply lower yesterday.

Japan Steel Works was the biggest loser on the Nikkei, falling 6.1 per cent to ¥506 as global growth fears intensified. Oil and gas developer Inpex fell 3.8 per cent to ¥565,000.

In Taiwan, the weighted index lost 2 per cent to 8,645.43 as a number of technology issues fell by the daily limit. HTC has been volatile recently after UBS said the smartphone maker had reduced its orders for components. Shares in HTC fell 6.8 per cent to T$997.

In China, the Shanghai Composite lost 1.5 per cent.

Samsonite International, a luggage maker, fell 7.7 per cent to HK$13.38 on its debut, in spite of being priced at HK$14.50, the lower ending of its indicative range.

In Seoul, the Kospi Composite lost 1.9 per cent to 2,046.63. Lotte Shopping, a department store, fell 7.2 per cent to Won487,000.

Drug makers had an outstanding session with Wooridul Pharmaceutical gaining 15 per cent to Won782. – (Copyright The Financial Times Limited 2011)