Asian stocks experienced a sharp decline as
Italian and Spanish borrowing costs surged; rising concerns among investors that
debt crisis might strengthen. Japan's Nikkei Stock Average lost 0.6%, Hang
Seng Index trader 1.1% lower while China's Shanghai Composite fell 0.1%. Australia's
S&P/ASX 200 slipped 0.4% whereas South Korea's Kospi decreased 0.6%.