Asian Stocks Have Worst Week in a Year on Housing Concern; Samsung Drops

(Bloomberg) -- Asian stocks had the biggest weekly
drop in a year as U.S. reports heightened concern that a housing
slump is spreading in the world's biggest economy. BHP Billiton
and Samsung Electronics Co. led the slide.

``You've got an economic impact from lower housing prices
and housing demand,'' said Simon Doyle, a strategist at Schroder
Investment Management Australia Ltd. in Sydney, which manages
the equivalent of $11.4 billion. ``If the U.S. is under question,
there might be a broader contagion.''


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South Korean Stocks Advance After Rate Increase; Posco Rises to Record

(Bloomberg) -- South Korean stocks advanced after
the Bank of Korea raised interest rates, reinforcing confidence
in the nation's economic recovery. Shinhan Financial Group Ltd.
led the climb.

Samsung Electronics Co. extended gains after the central
bank raised its benchmark interest for the first time in almost a
year to 4.75 percent. The Bank of Korea and the government had
raised their forecasts for this year's economic expansion earlier
this week.


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