Asia Stocks Fall as Earnings Concern Offsets Greek Deal Optimism
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Asian stocks fell amid low trading volume as concern about corporate earnings offset optimism that a compromise will be reached over Greece’s debt obligations.
CSL Ltd. tumbled 7.8 percent, dragging Australia’s S&P/ASX 200 Index lower, after the maker of blood-based drugs and vaccines cut its profit forecast. Suncorp Group Ltd. declined 2.9 percent in Sydney after profit at the insurer missed estimates. Taiwan Semiconductor Manufacturing Co. surged 3.9 percent in Taipei after saying it will increase its dividend by 50 percent.