Asian Shares Slip As China Hopes Fade, Spanish Credit Concerns Weigh

HONG KONG (Dow Jones)–Asian stocks fell Wednesday as hopes for a large Chinese stimulus package were dashed following a state-run agency news report and as concerns about Spanish banks resurfaced.

As some worries subsided over Greece, investor concerns over Spain rose after its credit rating was downgraded by Egan-Jones Ratings. This helped push the euro down to its lowest level against the dollar since July 2010. The single currency was at $1.2503 late in New York, falling even further to $1.2469 in early Asian trading.

The Spanish financial system suffered another …

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