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Asian shares down ahead of company earnings | |
(35 minutes later) | |
Asian markets are down following a lower close on Wall Street where investors showed caution ahead of company earnings reports. | |
A strong US dollar and economic woes in Europe could have had an impact on profits for firms in the third quarter, according to analysts. | A strong US dollar and economic woes in Europe could have had an impact on profits for firms in the third quarter, according to analysts. |
In Japan, the Nikkei 225 is lower 0.2%, while the Topix gained 0.1%. | |
The Japanese yen strengthened against the dollar, dipping to 108.91 on profit-taking. | |
The yen's movements will be closely watched as the Bank of Japan meets to discuss its monetary stimulus plans. | The yen's movements will be closely watched as the Bank of Japan meets to discuss its monetary stimulus plans. |
"We expect the BOJ to keep monetary policy on hold, but it could lower its economic assessment to reflect continuing data weakness" since the tax hike, strategists at Barclays said. | |
Greater China shares | |
In Hong Kong, stocks opened down 0.4%, ending a two-day rally after pro-democracy protests in the city started to taper. | |
The Hang Seng Index dipped 90.82 points to 23,224.22 in morning trade. | |
Australian shares were hovering near seven-and-a-half month lows ahead of the Reserve Bank of Australia's (RBA) policy meeting. | Australian shares were hovering near seven-and-a-half month lows ahead of the Reserve Bank of Australia's (RBA) policy meeting. |
The benchmark S&P/ASX200 index led losses in the region, down 1.1% at 5,234.2 points. | |
The RBA is widely expected to keep interest rates at a record low of 2.5% after a private gauge of consumer prices on Monday showed inflation cooled in September. | The RBA is widely expected to keep interest rates at a record low of 2.5% after a private gauge of consumer prices on Monday showed inflation cooled in September. |
In South Korea, Kospi shares were flat despite heavyweight Samsung Electronics reporting a big fall in expected third quarter profit. | |
The world's largest smartphone maker said its quarterly operating profit is estimated to have fallen 60% from the previous year as sales for its Galaxy handsets slowed. | The world's largest smartphone maker said its quarterly operating profit is estimated to have fallen 60% from the previous year as sales for its Galaxy handsets slowed. |