Most Asian stocks fell as a decline in Japanese banks after forecasting lower earnings offset a report that Japan's economy expanded faster than analysts estimated in the first quarter.

Nikkei 225 15,037.24 -58.79 -0.39%

S&P/ASX 200 5,165.7 -25.96 -0.50%

Shanghai Composite 2,245.43 +20.63 +0.93%

Mitsubishi UFJ Financial Group Inc. sank 2.9 percent, leading Japanese lenders lower.

Daewoo Shipbuilding & Marine Engineering Co., South Korea's third-biggest shipbuilder, fell 10 percent as first-quarter profit plunged.

Dai-ichi Life Insurance Co., Japan's second-largest life insurer, jumped 7.3 percent after projecting improved earnings and a stock split.