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Caution for Asia Stocks, Drop in Iron Ore

Investors adopted a cautious tone at the end of a positive week for Asian stocks, with raw-materials companies slumping. The yen retreated from a two-day advance.

The dollar was mixed against major currencies after weakening Thursday on Treasury Secretary Steven Mnuchin’s statement that fiscal stimulus effects on the economy this year may be limited. Tokyo shares fell back after erasing losses in morning trading. Commodity producers dragged Australian equities lower after iron ore tumbled. Gold headed for a fourth weekly increase and oil was poised for its best week of the year.

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