Asian Stocks Decline Amid Spain Bailout, Growth Concerns
By Jonathan Burgos and Yoshiaki Nohara - Oct 2, 2012 5:44 PM PT
Asian stocks fell amid speculation Spain will request a bailout even as Prime Minister Mariano Rajoy said there are no imminent plans to ask for aid and before the release of Chinese data on the services industry.
Canon Inc. (7751), the world’s biggest camera maker that gets about 31 percent of sales from Europe, lost 0.2 percent in Tokyo. Daiichi Sankyo Co. dropped 4.5 percent as the Japanese drug maker and partner ArQule Inc. halted a study of a lung- tumor treatment. APN News & Media Ltd. retreated 8.1 percent after the Australian newspaper publisher said it has nothing to announce at this stage on an ongoing review of assets.
The MSCI Asia Pacific Index (MXAP) fell 0.2 percent to 121.91 as of 9:43 a.m. in Tokyo. Markets in China and South Korea are closed today for holidays, while Hong Kong reopens for trading later following a long weekend.
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