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Asian stocks plunged, with a gauge of Chinese companies in Hong Kong erasing the year’s gains, amid concern the Federal Reserve may scale back U.S. economic stimulus and as China ordered increased property curbs.
Nikkei 225 11,309.13 -159.15 -1.39%
Hang Seng 22,906.67 -400.74 -1.72%
S&P/ASX 200 4,980.09 -118.62 -2.33%
Shanghai Composite 2,325.95 -71.23 -2.97%
Guangzhou R&F Properties Co. lost 2.4 percent in Hong Kong, pacing declines among Chinese developers.
BHP Billiton Ltd., the world’s biggest mining company, dropped 3.8 percent, the most since May, on concern that global demand will decrease if policymakers reduce stimulus.Origin Energy Ltd. slumped 8.5 percent to A$11.33 in Sydney after Australia’s biggest electricity retailer cut its profit forecast and reported a cost increase at its A$25 billion ($26 billion) gas project.
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