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Most Asian Stocks Drop on Record Spanish Borrowing Costs

Most Asian stocks fell, with the regional benchmark index retreating from a one-month high, as Spain’s borrowing costs climbed to a euro-area record and optimism faded that Greece’s election result will calm the debt crisis.

Esprit Holdings Ltd., a clothier that counts Europe as its largest market, declined 2 percent in Hong Kong. Pacific Basin Shipping Ltd. slid 6.3 percent after Hong Kong’s biggest operator of dry-bulk ships predicted a first-half loss. Lynas Corp. jumped 8.6 percent in Sydney after a Malaysian parliamentary committee said the Australian miner should be allowed to start refining rare earths in the Southeast Asian country once it fulfills and health and safety conditions.