Asian stocks fell for a third day, trimming the biggest monthly advance on the regional benchmark index since January 2012, as industrial and health care companies retreated.
Nitto Denko Corp. (6988) slumped 11 percent as BNP Paribas SA advised selling shares of the materials manufacturer, saying the surge since the announcement of its inclusion in the Nikkei 225 Stock Average was overdone. Advantest Corp. retreated 4.2 percent after the maker of semiconductor testers forecast a loss. Retail supplier Li & Fung Ltd. (494) slid 3.9 percent after Wal-Mart Stores Inc. cut orders to address swelling inventory.
The MSCI Asia Pacific Index dropped 0.3 percent to 139.97 as of 11:34 a.m. in Hong Kong. The measure climbed 7.8 percent this month through yesterday, touching a four-month high on Sept. 23, after the Federal Reserve maintained the pace of its stimulus and data showed China’s economic growth is stabilizing.
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