Most Asian Stocks Drop on Higher Valuations, Stronger Yen
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Most stocks on Asia’s benchmark regional stock index dropped after valuations climbed to near their highest level in six months. Japanese exporters declined as the yen strengthened, while gold producers advanced.
Honda Motor Co., Japan’s second-biggest automaker by market capitalization, slid 2 percent. Doosan Engineering & Construction Co. sank 15 percent after the Korea Economic Daily said the provider of architectural services will sell redeemable convertible preferred shares. Perseus Mining Ltd. rose 3.6 percent to lead a rebound in gold producers as the precious metal rallied before the close of Australian trading.