Most Asian stocks fell, led by energy and mining companies, after crude-oil and metal prices slumped on concern slowing growth will hurt profits.

Cnooc Ltd., China's largest offshore oil producer, and Mitsubishi Corp., Japan's No. 1 trading company, dropped after oil fell more than $6 a barrel yesterday, the biggest dollar decline since 1991. China Southern Airlines Ltd. climbed on speculation fuel costs will decrease. Woolworths Ltd., Australia's biggest retailer, led suppliers of consumer staples higher after meeting its full-year profit forecast.

``The drop in oil is either a boon or bane depending on your line of business,'' said Kenji Tomida, who oversees $16 billion as chief fund manager at T&D Asset Management Co. in Tokyo. ``There are bargains to be found in companies that aren't swayed so easily by things like the exchange rate, commodity prices and the direction of the economy.''

The MSCI Asia-Pacific Index was little changed at 130.06 at 5:20 p.m. Tokyo time. The benchmark lost 13 percent in the first six months through June, the worst first half since 1992, on signs the global economy is slowing. Federal Reserve Chairman Ben S. Bernanke said yesterday risks to growth and inflation have risen in the U.S.

Japan's Nikkei 225 Stock Average added 0.1 percent to 12,760.80. Australia's S&P/ASX 200 Index rose 1.1 percent on speculation the central bank is done raising interest rates.

China's CSI 300 Index slumped 3.8 percent, the region's biggest drop. Huaneng Power International Inc. paced declines after saying it may post a first-half loss as costs rise.

Oil, Metal Prices

U.S. stocks dropped yesterday, sending the Standard & Poor's 500 Index to the lowest since 2005, after the drop in crude oil dragged down energy shares and investors lost confidence in a government plan to rescue Fannie Mae and Freddie Mac.

S&P 500 Index futures rose 0.4 percent today. Intel Corp., the world's largest chipmaker, rose 20 cents to $20.91 in extended trading after it forecast sales that topped analyst estimates. Asian chipmakers gained, led by Elpida Memory Inc.

Mitsubishi lost 2.5 percent to 3,190 yen. Inpex Holdings Inc., Japan's largest oil explorer, dropped 4.8 percent to 1.18 million yen. Cnooc declined 3.3 percent to HK$12.28 in Hong Kong.

Crude oil slumped 4.4 percent yesterday to $138.74 a barrel in New York and was at $138.35 today. The percentage decrease was the most since March 19, after Bernanke abandoned his June assessment that the threat of an economic slowdown had diminished.

Strategists at Merrill Lynch & Co. and Morgan Stanley said investors should sell commodities stocks because a slowing global economy will cut demand for raw materials. A measure of six metals traded on the London Metal Exchange fell 2 percent yesterday, with zinc tumbling 8.2 percent and copper 1.6 percent.

Sell Commodities Stocks

Sumitomo Metal Mining Co., Japan's biggest nickel producer, declined 2.8 percent to 1,399 yen. Rio Tinto Group, the world's third-largest mining company, lost 0.5 percent to A$121.44.

China Southern, the nation's biggest airline, jumped 6.1 percent to HK$3.11 in Hong Kong. Korean Air Lines Co., South Korea's largest, rallied 4.1 percent to 41,500 won. Singapore Airlines Ltd. climbed 2.4 percent to S$14.72. Jet fuel has gained 58 percent this year and climbed to a record on July 3.

Woolworths gained 3.4 percent to A$24.26 in Sydney after saying sales in the three months ended June 29 rose to A$11.4 billion ($11.2 billion) from A$9.8 billion a year earlier. The company said full-year earnings rose as much as 25 percent, matching its February forecast.

``Woolworths came in with a pretty credible sales figure, and the guidance was maintained,'' said Paul Xiradis, who manages the equivalent of $11 billion as chief executive officer of Ausbil Dexia Ltd. in Sydney. ``That's what people are taking a bit of comfort from.''

Profit Forecasts

The stock was the biggest contributor to gains in the MSCI Asia-Pacific Consumer Staples Index, which rose 1.3 percent. That's the largest advance among the 10 industry groups that make up the broader MSCI regional gauge.

Huaneng, a unit of China's largest power producer, lost 3.2 percent to 6.72 yuan. A ``substantial increase'' in prices of coal will probably lead to a first-half loss, the company said.

Huadian Power International Corp., which also said it will post a loss in the period, slid 5.7 percent to 4.49 yuan.

Some chipmakers advanced on Intel's third-quarter sales forecast. Samsung Electronics Co. gained 1.5 percent to 561,000 won. Elpida Memory, Japan's largest memory-chip maker, rose 1.9 percent to 3,160 yen.

In Seoul, Kookmin Bank tumbled 9.9 percent to 51,800 won, its lowest close since March 20 and the biggest drop on MSCI's Asian index. The bank, South Korea's largest, said it may scrap a plan to form a holding company if it is opposed by shareholders with more than 15 percent of the company's shares.