Asian stocks drop

Asian stocks fell, dragging the MSCI Asia Pacific Index to its second straight weekly decline, as yen went up. The MSCI Asia Pacific Index fell 0.7 per cent to 128.64 in Tokyo, extending this week's decline to 1 per cent. The gauge has climbed 1.8 per cent in October, set for its second month of gains since Federal Reserve Chairman Ben Bernanke said on Aug. 27 more securities purchases may be warranted if growth slows. Fed policy makers meet on Nov. 2-3. Japan's Nikkei 225 Stock Average decreased 1.7 per cent as government reports showed the country's industrial production fell for a fourth month in September, adding to concern an export-led recovery is losing momentum. Hong Kong's Hang Seng Index sank 1.3 per cent, while China's Shanghai Composite Index declined 1 per cent. South Korea's Kospi Index dropped 1.4 per cent. Australia's S&P/ASX 200 Index fell 0.5 per cent.