Asian stocks fall on gloom over global economic recovery as Europe service growth slows

Asian stocks down on gloom over recovery

TOKYO — Asian stock markets fell in early trading Tuesday on growing worries over the global economic recovery following data showing Europe’s service growth slowed for a second month.

Japan’s benchmark Nikkei 225 stock index dropped 168.29 points, or 1.8 percent, to 9,098.49. The Nikkei was also under pressure on a strong yen, which hurts Japanese exporters.

South Korea’s Kospi declined 1.5 percent to 1,650.92, and Australia’s S&P/ASX 200 was down 0.7 percent at 4,221.70.

Sentiment turned downbeat across Asia as investors were disappointed by a report showing slumping growth in Europe’s service and manufacturing sectors.

A composite index based on a survey of euro-area purchasing managers in service and manufacturing industries fell to 56 in June from 56.4 in May, said a London-based Markit report.

The poor result was a fresh sign that a recovery in the global economy is losing momentum.