Asian Stocks Tumble as Crisis Hits Italy; Banks, Exporters Dive
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Asian stocks plunged, with the regional index headed for its biggest drop in seven weeks, after Japan’s machinery orders dropped and China’s export growth slowed and Europe’s debt crisis has infected Italy.
HSBC Holdings Plc, the U.K.’s largest lender by market value, sank 9.1 percent in Hong Kong after profit at its investment bank declined amid political and economic uncertainty in Europe. Fanuc Corp., a maker of industrial robots, slipped