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Yen Pares Weekly Drop on Aso as Most Asia Stocks Drop
Japan’s yen pared its biggest five-week loss since 1995 as Finance Minister Taro Aso said its decline has been too fast. Most Asian stocks fell, with the regional index headed to its biggest weekly retreat since mid-October, while crude oil climbed for a second day. The yen added 0.6 percent to 117.54 per dollar by 11:27 a.m. in Tokyo, paring its loss since Oct. 17 to about 9.1 percent. About five stocks fell for every three that rose on the MSCI Asia Pacific Index (MXAP) as it headed for a 1.8 percent drop this week. Standard & Poor’s 500 Index futures declined 0.1 percent after the gauge rose to a record. The ... (full story)