Stocks in Asia fall for second day in row

Asian stocks fell for a second day, led by materials and consumer companies, as Japanese bond risk at a record and signs of declining profit countered optimism that US stimulus measures will ease the financial crisis.

Kobe Steel Ltd tumbled 13 percent in Tokyo before saying it may have given improper political contributions. Orix Corp, Japan's biggest non-bank financial company, slumped 8.9 percent on a lower profit forecast. Nissan Motor Co jumped 7.3 percent after saying it will cut 20,000 jobs to help restore profit.

"The market is asking too much from the stimulus plans," said Mark Tan, who helps manage about $3 billion in Asian equities at UOB Asset Management in Singapore. "It may not be as strong as what it should be because of the compromises that have been made."