Asian Stocks are declining on Enconomy and earning concerns

Asian stocks fell for a third day after Sony Corporation cut its earnings forecast and South Korea's economic growth slowed, deepening concern a global slowdown is hurting profits. Sony went down 11 percent to its lowest level since 1995 after the world's second-largest maker of consumer electronics cut its annual forecast by more than 50%, citing a stronger yen and worsening outlook. Samsung Electronics Co. was down 3.3% after posting its biggest quarterly profit drop in more than three years. Lotte Shopping Co., South Korea's biggest department-store operator, slumped 7.5 percent after net income missed analyst estimates and the country's economy grew at the slowest pace in four years.