Asian stocks lower on worries over Europe's crisis

TOKYO — Asian stock markets were mostly lower Wednesday as investors shrugged off overnight gains on Wall Street amid lingering worries about Europe's debt crisis. Japan's benchmark Nikkei 225 stock average lost 93.79 points, or 1 percent, to 9,444.15 in the morning session. South Korea's Kospi was down 0.2 percent to 1,647.55 and Australia's S&P/ASX 200 slipped 0.1 percent to 4,397.60. Hong Kong's Hang Seng shed 0.4 percent to 19,404.94. Benchmarks in Malaysia and New Zealand rose marginally while Singapore, Taiwan and China fell. Across Asia, investors shrugged off gains in US stocks Tuesday amid sustained fears that Europe's fiscal crisis could cause a slowdown in the global economy. In New York Tuesday, the Dow Jones industrials gained 123.49 points, or 1.3 percent, to 9,939.98 as investors took heart from Federal Reserve Chairman Ben Bernanke's reassuring comments on the US economic recovery. In currencies, the dollar fell to 91.37 yen in Tokyo from 91.53 yen in New York late Tuesday. The euro declined to $1.1951 from $1.1971. The euro has touched a series of four-year lows in recent days on worries about Europe's weak growth prospects and the economic effects of deep cuts in public spending announced by major European nations, including Germany and Britain. Benchmark crude for July delivery was up 53 cents at $72.52 a barrel in electronic trading on the New York Mercantile Exchange. —AP