Asia Stocks Drop, Led by Raw Materials, After Brussels Attacks
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Asian stocks retreated, after the regional benchmark index closed Tuesday at the highest level since January, as deadly terrorist attacks in Brussels weighed on sentiment. Industrial and materials shares led declines.
The MSCI Asia Pacific Index fell 0.7 percent to 128.87 as of 4:01 p.m. in Hong Kong. Two bombs went off in rapid succession at the Brussels airport and an explosion an hour later hit a subway station a short walk from the EU’s headquarters. Terrorist incidents including the one in Paris last November as well as the London bombings in 2005 spurred equity selloffs that were erased in the following days and weeks.