Pursuits
Asia Stocks See Biggest Weekly Drop in Month Before Europe Meet
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Asian stocks saw their biggest weekly decline in a month after Germany said there would be no quick fix to the European debt crisis ahead of a regional summit this weekend.
Esprit Holdings Ltd., a clothier that gets most of its revenue in Europe, dropped 9.3 percent in Hong Kong this week. Rio Tinto Group, the world’s second-largest miner by sales, dropped 8.4 percent in Sydney as commodity prices tumbled. Olympus Corp., which is embroiled in a scandal over payments to advisers, plunged 40 percent, erasing $4.4 billion in market value for the maker of cameras and endoscopes.