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Asia Stocks Set for Biggest Weekly Loss Since March 2009

"Jan. 29 (Bloomberg) -- Asia stocks declined, with the regional benchmark posting its biggest weekly loss since March, the euro fell and corporate default risk increased on concern about Greece’s swelling deficit and U.S. unemployment.The MSCI Asia Pacific Index slumped 1.6 percent to 117.18 at 3:25 p.m. in Tokyo, set for a 3.8 percent drop for the week, the most since March 6....About seven stocks declined for each one that advanced on the MSCI Asia Pacific Index. Gauges of material producers and technology companies posted the biggest drops...Investors pulled $608.5 million from funds investing in developing nations’ shares in the week ended Jan. 27, the first outflows in 12 weeks."