Asian stocks outside Japan slid toward a two-month low amid concern a budget standoff in the U.S. may curb global growth. Japanese shares gained on speculation a change of government may result in more action to stimulate the economy.
BHP Billiton Ltd. (BHP), the worldâ€™s largest mining company, fell 1.8 percent in Sydney, declining for a sixth day in its longest losing streak since July. Tencent Holdings Ltd. (700), Chinaâ€™s biggest Internet company, dropped 7 percent in Hong Kong after earnings missed estimates. Nippon Steel & Sumitomo Metal Corp. surged 4.8 percent in Tokyo.
The MSCI Asia Pacific Ex-Japan Index (MXAPJ) fell 1.1 percent to 433.82 as of 5:52 p.m. in Tokyo, the lowest level since September. Hong Kongâ€™s Hang Seng lost 1.6 percent and Chinaâ€™s Shanghai Composite declined 1.2 percent as Xi Jinping replaced Hu Jintao as head of the Chinese Communist Party. Japanâ€™s Nikkei 225 Stock Average (NKY) rose 1.9 percent.
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