Asian Shares Fall Amid Weak Earnings, Shrug Off Data


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Asian shares declined as investors shrugged off some data amid disappointing results.

Japan's CPI rose 0.7% from a year earlier, matching the forecast from a Dow Jones Newswires survey, and little changed from August's 0.8% increase.

South Korea's GDP rose a seasonally adjusted 1.1% in Q3 from the previous quarter, when the economy grew at the same pace, the Bank of Korea said. That is the strongest pace since Q111, when the economy grew 1.3% on quarter and topped forecasts.

Rate worries in China continued to weigh on sentiment as money market rates remained high.

In earnings news, Posco ( PKX ) cut its 2013 sales outlook.

China Unicom ( CHU ) reported a 51% increase in Q3 net profit.

Canon ( CAJ ) lowered its full-year net profit forecast to 240 billion yen from a previous estimate of 260 billion yen set in July.

The Nikkei ended down 2.75% at 14,088.19, the Hang Seng down 0.6% at 22,698.34 and the Straits Times down 0.39% at 3,205.24.

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This article appears in: Investing , Commodities
More Headlines for: CAJ , CHU , PKX

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