Asian Stocks Head for Largest Weekly Drop Since October

Asian Stocks Head for Largest Weekly Drop Since October

Bloomberg (22/3) - Asian stocks fell, with the regional equities gauge heading for its biggest weekly decline since October, as scuffles on the streets of Nicosia underscored concern that Europe’s debt crisis is worsening. The MSCI Asia Pacific Index (MXAP) lost 0.3 percent to 134.79 as of 9:23 a.m. in Tokyo, before markets open in Hong Kong and China. The gauge is heading for a 1.4 percent decline this week as Cyprus scrambles to avoid a collapse of its banking system and reports showed Europe’s manufacturing decline steepening. http://www.bloomberg.com/news/2013-03-22/asian-stocks-head-for-largest-weekly-drop-since-october.html