April 18 (Bloomberg) -- Asian stocks slumped, with Japan's Nikkei 225 Stock Average set for its biggest drop in 11 months. Honda Motor Co. and Samsung Electronics Co. led declines by exporters as U.S. manufacturing and consumer sentiment reports signaled slowing growth in the world's largest economy. The Nikkei also dropped below 11,000 for the first time in four months as anti-Japan protests spread to about a dozen cities in China over territorial and historical disputes.
Taiyo Yuden Co., which makes electronic parts in a factory in China, fell. ``It's starting to look difficult to count on the U.S. to be the engine of growth,'' said Hiroshi Arano, a managing director at Dai-Ichi Kangyo Asset Management Co. in Tokyo, which oversees $16 billion. ``Japan is also faced with the China risk now and that's a big factor keeping investors from buying.'' Arano said he's avoiding companies that depend on China demand.
The Morgan Stanley Capital International Asia-Pacific Index, which measures 945 stocks, tumbled 2.6 percent to 95.02 at 11:14 a.m. in Tokyo, set for its biggest slide since May 17. Japan's Nikkei fell 3.3 percent to 11,001.21, its steepest drop since May 10. South Korea's Kospi index lost 2.3 percent. Indexes in all markets open for trading fell, with New Zealand's NZSX 50 Index set for the biggest drop in more than two year.
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