Asian stocks mixed after weak Wall Street session

<p>Shares fell on disappointing Q3 earnings.</p>

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.

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