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Asian Stocks Fall 5th Day as U.S. Manufacturing Contracts

Asian stocks fell a fifth day, with the regional benchmark index headed for the longest losing streak in two months, as economic reports from the U.S. to China and Australia stoked concern global growth is slowing.

Samsung Electronics Co., South Korea’s largest exporter of consumer electronics that gets 20 percent of its revenue in America, lost 2.4 percent in Seoul. Westpac Banking Corp., Australia’s No. 2 lender by market value, slid 1.5 percent in Sydney as the country’s economy grew at a slower-than-estimated rate. Fortescue Metals Group Ltd., Australia’s third-biggest iron-ore producer, plunged 8.5 percent as prices of the steelmaking material fell to a three-year low on slowing growth in China.