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Asian Markets at Close Report | MarketWatch -October 29, 2012 2012-: Most Asia stocks drop; developers weigh Hong Kong

By Sarah Turner and V. Phani Kumar , MarketWatch  HONG KONG (MarketWatch) — Most Asian markets let early gains fade as they retreated Monday, with Japanese auto stocks hit after Honda Motor Co. cut its forecast, while Hong Kong developers slumped after the local government slapped tax increases on the property sector.  The broad declines came amid worries about the impact of Hurricane Sandy on the U.S. east coast this week, with U.S. markets set to be closed Monday in the interest of safety of people and communities from the monster storm. Read: NYC shutting down transit, evacuating 375,000 .    “For the moment, the main focus is extreme weather conditions due to Hurricane Sandy in the U.S.,” said Kintai Cheung, strategist at Credit Agricole. Read: U.S. stock exchanges to close Monday.    “Liquidity may be thinned later today with Hurricane San