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Asian Equities Lower

Asian stocks outside Japan fell, with Hong Kong’s Hang Seng Index retreating from a more-than three-year high, as Samsung Electronics Co. led information technology shares lower.

Samsung sank 3.9 percent in Seoul as the world’s biggest maker of smartphones posted net income that fell short of expectations amid increased competition from Apple Inc. and Chinese producers. Singapore Airlines Ltd. slipped 2.4 percent after Asia’s second-largest carrier by market value reported weaker earnings. Mitsubishi Motors Corp. gained 2.3 percent in Tokyo after the carmaker’s profit beat analysts’ estimates.

The MSCI Asia Pacific excluding Japan Index dropped 0.4 percent to 510.32 as of 11:53 a.m. in Hong Kong, paring its monthly advance to 3.3 percent. The MSCI Asia Pacific Index, which included Japan, slipped 0.1 percent to 149.33 after climbing 2.6 percent this month through yesterday, when it closed near the highest level since June 2008. It is poised for a third month of gains.

Bloomberg [1]

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