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Asian stocks fell, with the regional index poised to erase this month’s gains, as companies including Fanuc Corp. and China Unicom Ltd. reported earnings that disappointed investors. South Korea’s Kospi Index sank 1.6 percent after Bank of Korea data today showed the nation’s gross domestic product expanded 1.6 percent in the three months to September from a year earlier, the slowest pace in three years.
Nikkei 225 8,933.06 -122.14 -1.35%
S&P/ASX 200 4,472.4 -38.10 -0.84%
Shanghai Composite 2,065.3 -36.28 -1.73%
Fanuc, an industrial robot manufacturer, slid 2.8 percent in Tokyo, while China Unicom, the nation’s No. 2 mobile-phone company, sank 7.1 percent in Hong Kong.
Woongjin Coway Co., a maker of water purifiers, surged 11 percent in Seoul after its parent agreed to stick with a plan to sell a controlling stake to MBK Parters Ltd.
China Unicom retreated 7.1 percent to HK$12.78 in Hong Kong after third-quarter net income rose 27 percent to 2.02 billion yuan ($324 million). The result, derived from nine-month earnings reported by the Beijing-based company, compares with the 2.21 billion-yuan median estimate in a Bloomberg News survey.
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