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Asian Stocks Fall From 18-Month High on Europe Concerns

Posted by Forexsq 109 days ago (http://www.bloomberg.com)

Asian stocks fell, dragging the regional benchmark index down from an 18-month high, amid renewed concern about Europe’s debt crisis. Hong Kong shares tumbled the most since November amid speculation the government may act to cool the property market.

Konica Minolta Holdings Inc. (4902), a Japanese maker of imaging equipment that gets 28 percent of its sales in Europe, dropped 3.1 percent. Macquarie Group Ltd. (MQG) lost 4.1 percent amid concern full-year earnings may trail the Australian lender’s forecast. China Petroleum & Chemical Corp. (600028) fell 6.4 percent in Hong Kong after Asia’s biggest refiner said it plans to sell shares worth HK$24 billion ($3.1 billion) at a discount.