Asia Stocks Set to Snap Longest Winning Streak Since Jan.
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Asian stocks fell, with the benchmark index capping its first weekly retreat since June, as Nikon Corp.’s reduced profit forecast overshadowed a larger-than-estimated increase in China’s industrial output.
Nikon, a Japanese camera maker, slumped 14 percent, dragging consumer shares lower. BHP Billiton Ltd., the world’s largest mining company, climbed 1.8 percent in Sydney, leading raw-materials firms to the largest advance among the 10 industry groups of the Asia-Pacific benchmark gauge. DeNA Co., a mobile-game site operator, surged 11 percent in Tokyo after posting a 9.6 percent increase in first-quarter sales.