Asian Indices Follow Wall Street into Red Territory

Summary:
• Major Asian indices closed lower even as Wall Street sold off yesterday. Traders look towards earnings reports of major Wall Street companies today.

Major Asian indices are all trading lower for the day on the back of the weight shedding on the  US stock markets. The following Asian indices are profiled below.

• Japan’s Nikkei is trading 1.9% lower at 21,125.55 points.
• Hong Kong’s Hang Seng Index is trading 0.5% lower at 28,431.28 points.
• Australia’s S&P/ASX200 was trading 0.45% lower at 6,661.62 points.
• South Korea’s KOSPI was trading 0.28% lower at 2,067.44 points.
• Taiwan stock market is trading 0.23% lower at 10,803.34 points.

Earnings Season Continues on Wall Street

As Wall Street opens for business in less than an hour from now, emphasis will focus on the earnings reports of the following companies, as well as the time of release for the day.

• Alliance Data Systems Corporation (ADS) – Premarket
• Capital One Financial Corporation (COF) – After hours
• Dover Corporation (DOV) – Premarket
• Honeywell International Inc (HON) ­- Premarket
• Morgan Stanley (MS) – Premarket
• Novartis (NV) – Premarket
• Taiwan Semiconductor Maufacturing Company (TSM) – Premarket
• The Blackstone Group (BX) – Premarket
• Union Pacific Corporation (UNC) – Premarket

Wall Street futures are pointing to a lower open despite the earnings surprise of Novartis AG. Updates on this stock and that of Morgan Stanley to follow.Don’t miss a beat! Follow us on Twitter.

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