TOKYO: Asian markets fell Friday, overlooking strong earnings from some of the region's biggest companies as Japanese shares tumbled on dour economic figures and a strong yen.
Global electronics giant Samsung reported an 83 percent surge in quarterly profit as sales of panels for flat screen TVs and computer chips boomed. That followed a flood of earnings reports Thursday from Japanese consumer electronics companies and car makers, nearly of all which showed earnings recovering strongly as demand recovers from the global slump and deep cost cuts take effect.
But new figures from Japan offered a sobering reminder that the recovery in the world's No. 2 economy remains fragile: The jobless rate rose, deflation deepened, and industrial production fell unexpectedly.
The Nikkei 225 stock average dropped 145.84 points, or 1.5 percent, to 9,550.18 as it headed for a second straight day of decline.
Strong profits at Sony Corp. and Nissan Motor Co. could not offset government figures showing industrial production fell an unexpected 1.5 percent in June from the previous month, while consumer prices fell for a 16th straight month.
Sentiment also flagged as the dollar fell back under the 87-yen level. A strong yen, which reduces the value of profits brought back from overseas, is a major concern for Japanese exporters this year.
South Korea's Kospi declined 0.7 percent to 1,757.37 and the S&P/ASX 200 in Australia fell 0.6 percent to 4,494.40. China's Shanghai Composite Index was down 0.8 percent to 2,626.89 and benchmarks in Taiwan, Singapore and Indonesia also retreated.
In New York on Thursday, the Dow Jones industrial average ended down 0.3 percent to 10,467.16. The Dow has fallen 70 points over its last two session, but is still up 7.1 percent for July.
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