Asian Stocks Fall From 3-Month High Before FOMC Meeting
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Asia’s benchmark stock index retreated from a three-month high as investors await the outcome of the Federal Reserve’s meeting next week.
Toyota Motor Corp. dropped 1.1 percent, pacing losses among Japanese exporters as the yen rose for a second day. Sino Biopharmaceutical Ltd. tumbled 16 percent, prompting a trading suspension, after a report by state-run Chinese Central Television alleged bribery at a unit of the medicine maker. Qantas Airways Ltd., Australia’s largest carrier, climbed 2.9 percent after the Australian Financial Review reported it may share its Sydney terminal with unit Jetstar Airways.