Economics
Asia Stock Gauge Falls, Snapping Eight-Day Winning Streak
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Asian stocks fell for the first time in nine days, snapping the longest winning streak on the regional gauge this year, with telecommunication and technology shares leading declines.
Naver Corp. slumped 6.5 percent in Seoul, SoftBank Corp. lost 4.6 percent in Tokyo and Tencent Holdings Ltd. fell 4.5 percent in Hong Kong as telecom and technology shares slid. Fanuc Corp., a Japanese maker of factory equipment, sank 1.7 percent. Japanese drug company Daiichi Sankyo Co. rose 3.3 percent after Indian drugmaker Sun Pharmaceutical Industries Ltd. agreed to buy Ranbaxy Laboratories Ltd. Daiichi owns 63.5 percent of Ranbaxy.