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Asian Stocks Fall on U.S. Factory Orders, China Earnings

Asian stocks fell for a second day on concern China’s economic slowdown is weighing on company earnings and after orders placed with U.S. factories for durable goods rose less than estimated.

PICC Property & Casualty Co. slid 3.9 percent in Hong Kong after China’s biggest non-life insurer missed analysts’ profit estimates. Toyota Motor Corp., which depends on North America for 28 percent of its sales, fell 1.7 percent. Speco Co. led gains among South Korean defense-related companies on a report North Korea has begun to fuel a rocket it plans to launch.