Asian Stocks Drop to June Low as U.S. OKs Iraq Air Strike
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Asian stocks dropped to a seven-week low as U.S. President Barack Obama authorized air strikes against militants fighting the Iraqi government.
Nikon Corp. slumped 9.4 percent in Tokyo after the camera maker reduced its profit forecast. Taiyo Yuden Co. plunged 8.9 percent as the Japanese maker of electronic components cut its net-income target. Melco Crown Entertainment Ltd. dropped 3.9 percent in Hong Kong after the Macau casino operator posted earnings that missed estimates and said its Taiwan branch was indicted for alleged foreign-exchange violations.