Asian Stocks Head for Largest Weekly Drop Since August
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Asian stocks fell, with the regional benchmark index heading for its biggest weekly decline since August, as scuffles on the streets of Nicosia underscored concern that Europe’s debt crisis is worsening.
HSBC Holdings Plc, Europe’s largest bank, fell 1.2 percent in Hong Kong. Bridgestone Corp., the world’s biggest tiremaker that gets, lost 3.2 percent in Tokyo after the yen strengthened, dimming the outlook for Japanese exporters. Billabong International Ltd. recouped some of yesterday’s 14 percent loss after saying two potential bidders are still interested in the Australian sports-wear company.