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Most Asian stocks declined amid concern that Cyprus’s rejection of a bailout plan shows Europe will struggle to contain its debt crisis. The losses were limited as Chinese shares rallied ahead of report that may show manufacturing expanded this month.
Nikkei 225 12,468.23 +247.60 +2.03%
Hang Seng 22,256.44 +214.58 +0.97%
S&P/ASX 200 4,967.35 -20.05 -0.40%
Shanghai Composite 2,317.37 +59.94 +2.66%
Samsung Electronics Co., the world’s largest maker of mobile phones that gets about 19 percent of sales from Europe, slipped 1 percent.
Fortescue Metals Group Ltd., Australia’s third-biggest iron ore producer, slipped 2.3 percent after Goldman Sachs Group Inc. said yesterday that global demand for the metal will slow.Guangzhou R&F Properties Co. jumped 7.6 percent in Hong Kong after the homebuilder in the Southern Chinese city posted full-year earnings that beat analyst estimates.
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