Asian stocks drop as OECD warns about global recession if fiscal cliff is not prevented

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AP
Asian stocks dropped as the OECD said failure to avoid the fiscal cliff would increase risks of global recession. The MSCI Asia Pacific Index lost 0.5% to 123.12. Japan's Nikkei 225 Stock Average declined 0.8% and South Korea's Kospi Index slid 0.9%. Australia's S&P/ASX 200 Index fell 0.8%, the Shanghai Composite Index slipped 0.7% and Hong Kong's Hang Seng dropped 0.8%.  
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