Asian stocks open in red

Asian stocks dropped, after US retail sales unexpectedly declined and the stronger yen dimmed the earnings outlook for Japan`s electronics and auto companies.

Canon which generates more than half of sales from US and Europe declined more than 2.5% in Tokyo as the yen rose against the dollar and the euro.

Japanese benchmark index Nikkei fell 74.33 points, or 0.84%, to trade at 8,768.35.

Hong Kong`s Hang Seng index dropped 184.44 points, or 1.18%, to trade at 15,395.72.

China`s Shanghai Composite slid 10.37 points, or 0.41%, to trade at 2,516.81.

Taiwan`s Taiex index gained 4.40 points, or 0.07%, to trade at 5,897.08.

South Korea`s Kospi index slipped 4.41 points, or 0.33%, to trade at 1,338.22.

Singapore`s Straits Times dropped 31.79 points, or 1.68%, to trade at 1,865.23. (7.54 a.m., IST)