Asian Stocks Outside Japan Drop, Led by Emerging Markets
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Asian stocks outside Japan fell for a third day as a retreat in emerging markets dragged the regional equities gauge to its lowest level in a week. Japan’s Topix index gained amid low trading volume.
Tokyo Electric Power Co. dropped 3.6 percent after saying two workers were exposed to dangerous radiation at its crippled Fukushima Dai-Ichi nuclear reactor. BlueScope Steel Ltd. sank 14 percent as sales missed analyst estimates and Australia’s No. 1 steel producer forecast a weaker first half of the financial year. JX Holdings Inc. gained 4 percent after Mitsubishi UFJ Morgan Stanley Securities Co. advised buying the Japanese refiner’s shares.