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Big drops in most Asian markets, Nikkei off 4.5%

Most markets in Asia sold off sharply.

The Nikkei fell 4.5% to 12,992. Canon was down 5.2% to 4570 yen. Honda (NYSE:HMC) was down 5.8% to 3070. Toyota (NYSE:TM) was down 3.3% to 5560.

The Hang Seng dropped 3.1% to 23,585. China Netcom (NYSE:CN) fell 23.5 yuan. PetroChina (NYSE:PTR) fell 4.9% to 11.26.

The Shanghai Composite moved up 2.1% to 4,438.

Data from Reuters.

Douglas A. McIntyre is an editor at 247wallst.com.

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Last updated: July 20, 2008: 05:04 AM

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