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Asia stocks mixed with earnings in focus; Nikkei ends down 0.2%

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Investing.com -

Investing.com - Asian stock markets were mixed in lackluster trade on Wednesday, as investors weighed corporate earnings.

During late Asian trade, Hong Kong's Hang Seng jumped 1.2%, China's Shanghai Composite inched down 0.1%, Australia's S&P/ASX 200 closed 0.03% lower, while Japan's Nikkei 225 ended down 0.14%.

Overnight, lackluster U.S. retail sales data sent Wall Street closing mixed. The Dow Jones rose 0.12%, the S&P 500 rose 0.04%, while the NASDAQ fell 0.33%.

In Tokyo, the Nikkei eased off the previous session's two-week high as traders continued to monitor movements in the currency market. USD/JPY fell to a daily low of 102.10, moving off the previous session's high of 102.35.

In earnings news, Nikon (TOKYO:7731) saw shares tumble 4% after the company forecast lower than expected earnings and revenue in the current fiscal year.

Sony (TOKYO:6758) rose 1% ahead the company's fourth-quarter earnings. After the closing bell, the electronics maker posted a net loss of 128.37 billion yen in the year ending March 2014.

Elsewhere, in Australia, the ASX/200 Index ended little changed as market players reacted to the release of the country's federal budget.

Commonwealth Bank Of Australia (ASX:CBA) rallied 1.2% after the lender reported stronger than expected third quarter earnings and profit.

Meanwhile, shares in Hong Kong extended sharp gains from the previous session, but markets in the mainland edged lower amid ongoing concerns over the health of China's economy.

Index heavyweight Tencent (HK:0700) picked up 0.5% ahead of its earnings report due later in the day. Analysts expect an 18% increase in net profit for the first quarter compared to a year earlier.

Looking ahead, European stock market futures pointed to a mixed open. The Euro Stoxx 50 futures pointed to a gain of 0.1%, France's CAC 40 dipped 0.1%, London's FTSE 100 indicated a decline of 0.1%, while Germany's DAX added 0.15%.

Across the Atlantic, U.S. equity markets pointed to a firm open. The Dow pointed to a gain of 0.1%, S&P 500 inched up 0.15%, while the Nasdaq 100 indicated a rise of 0.15%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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