Asian stocks fell, with the regional benchmark index poised to snap a two-day gain, after U.S. Secretary of State John Kerry said the president will hold Syria’s government accountable for using chemical weapons.
Toyota Motor Corp. (7203), Asia’s biggest carmaker and the heaviest weighted stock on the MSCI Asia Pacific Index, lost 1.1 percent in Tokyo. Billabong International Ltd., an Australian surfwear company, slumped 13 percent after it posted a loss more than three times its market value and said its core brand was worthless. Caltex Australia Ltd., which refines and distributes petroleum products, declined 4.3 percent in Sydney after its rating was cut at Macquarie Group.
The MSCI Asia Pacific Index dropped 0.3 percent to 131.23 as of 9:18 a.m. in Tokyo, with nine of the 10 industry groups on the gauge declining. Markets are yet to open in China and Hong Kong.
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