Economics
Asian Stocks Drop on Samsung Electronics, WorleyParsons
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Asian stocks fell for a second day after valuations on the regional benchmark index reached the highest level since May and as Samsung Electronics Co. and WorleyParsons Ltd. declined.
Samsung lost 1.3 percent as investors awaited a U.S. court decision on how much the South Korean handset maker should pay Apple Inc. for patent infringement. WorleyParsons Ltd., Australia’s largest oil and gas engineering company, slumped a record 26 percent after saying profit will miss a forecast given last month. Micronics Japan Co. surged 21 percent in Tokyo after the electronics-component maker said full-year earnings would increase from the prior period.