Asian stocks mixed after weak Wall Street session

Asian stocks were mixed for a third consecutive day today (October 22nd) after a weak overnight session on Wall Street on disappointing Q3 earnings.

Amongst the weakest earning reports was Samsung Engineering, posting a quarterly net loss of 1.3 trillion won (£737 million) for the July-September quarter.

The tech-heavy Nasdaq Composite dropped 0.8 per cent, while the Dow Jones Industrial Average closed down 0.3 per cent and the S&P 500 fell 0.6 per cent.

Investors also remained cautious following yesterday's unexpected sell-off on the Chinese market. Some analysts said the sell-off was sparked by weak earning forecasts from heavy industrials, while others believe the market fell on profit taking after the recent rise in the Shanghai Composite index.

Japan's Nikkei 225 edged down 0.6 per cent to 18,435.87 and South Korea's Kospi lost one per cent to 2,023.00. Hong Kong's Hang Seng fell 0.7 per cent to 22,832.10 and China's Shanghai Composite Index was up 0.6 per cent at 3,339.57, while Australia's S&P/ASX 200 gained 0.3 per cent to 5,263.80.

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.