Asia shares Slip as US earnings disappoint, Dollar Gains

Asian shares flirted with three-week lows on Wednesday after a dour start to Wall Street's corporate earnings season knocked US stocks, while the dollar and Treasury yields rose on growing expectations of a US rate hike in December. 

 

The British pound jumped back from lows in a volatile trading session though concerns about a "hard Brexit" are likely to keep the currency under pressure. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 percent while Japan's Nikkei futures slipped 0.7 percent. 

 

On Wall Street, US S&P 500 Index fell 1.2 percent to near one-month low, and dipped below its 100-day moving average - seen as a major support - for the first time since June. 

 

Shares of aluminum producer Alcoa tumbled 11.4 percent and diagnostics test maker Illumina plummeted 24.8 percent following their disappointing earnings, casting a pall over the market.

 

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