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Asian Stocks Drop as Materials Prices Fall, Earnings Disappoint

Asian stocks declined, with a regional benchmark index heading for a two-week low, as raw material producers fell and companies from Westpac Banking Corp. to Chimei Innolux Corp. posted earnings that missed analysts’ estimates.

BHP Billiton Ltd., the world’s biggest mining company and Australia’s largest oil and gas producer, slipped 0.8 percent in Sydney as oil and copper futures declined. Westpac Banking Corp., Australia’s No. 2 lender, lost 2.5 percent. Chimei Innolux Corp., a Taiwanese maker of liquid-crystal displays, sank 2.4 percent. Citic Resources Holdings Ltd. plunged 9.7 percent after announcing a HK$2.5 billion ($322 million) share sale.