Investing.com - Asian stocks edged higher on Tuesday as investors put weak earnings results behind them and snapped up attractively priced shares.
During Asian trading on Tuesday, Hong Kong's Hang Seng Index was up 0.68%, Australia's S&P/ASX200 was up 0.24%, while Japan’s Nikkei 225 Index was up 0.05%.
Third-quarter earnings season is underway in the U.S., and disappointments have been hitting the wire.
Google, Microsoft, General Electric and McDonald's disappointed some investors last week, while this week, earth mover Caterpillar met expectations but cut its earnings forecast, which sent investors selling stocks before prices reached bargain levels.
Caterpillar's third-quarter net income hit USD1.7 billion, compared with USD1.14 billion, a year earlier.
Third-quarter revenues rose 5% on year to USD16.5 billion, slightly less than expectations.
In Asian bourses, exporters saw their stock prices rebound after dropping on soft Japanese trade data.
Japan posted a JPY558.6 billion trade deficit in September, with exports falling 10.3% from the same month last year, the biggest drop since May 2011, two months after Japan’s earthquake disaster.
The numbers, however, sparked talk the Bank of Japan will take fresh steps to stimulate the economy, including fresh monetary easing measures later this month, which pushed stocks into higher territory.
Hong Kong, top gainers included HKex, up 3.54%, Henderson Land, up 2.06%, and MTR Corporation, up 1.53%.
In Australia, top gainers included Wotif.com Holdings, up 14.49%, Discovery Metals, up 5.27%, and Mirabela Nickel, up 4.26%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.20%, while Germany's DAX 30 futures pointed to a loss of 0.10% as well. Meanwhile in the U.K., FTSE 100 futures were down 0.06%.
Dow Jones Industrial Average futures were down 0.06%, while the S&P 500 futures were also down 0.06%.
During Asian trading on Tuesday, Hong Kong's Hang Seng Index was up 0.68%, Australia's S&P/ASX200 was up 0.24%, while Japan’s Nikkei 225 Index was up 0.05%.
Third-quarter earnings season is underway in the U.S., and disappointments have been hitting the wire.
Google, Microsoft, General Electric and McDonald's disappointed some investors last week, while this week, earth mover Caterpillar met expectations but cut its earnings forecast, which sent investors selling stocks before prices reached bargain levels.
Caterpillar's third-quarter net income hit USD1.7 billion, compared with USD1.14 billion, a year earlier.
Third-quarter revenues rose 5% on year to USD16.5 billion, slightly less than expectations.
In Asian bourses, exporters saw their stock prices rebound after dropping on soft Japanese trade data.
Japan posted a JPY558.6 billion trade deficit in September, with exports falling 10.3% from the same month last year, the biggest drop since May 2011, two months after Japan’s earthquake disaster.
The numbers, however, sparked talk the Bank of Japan will take fresh steps to stimulate the economy, including fresh monetary easing measures later this month, which pushed stocks into higher territory.
Hong Kong, top gainers included HKex, up 3.54%, Henderson Land, up 2.06%, and MTR Corporation, up 1.53%.
In Australia, top gainers included Wotif.com Holdings, up 14.49%, Discovery Metals, up 5.27%, and Mirabela Nickel, up 4.26%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.20%, while Germany's DAX 30 futures pointed to a loss of 0.10% as well. Meanwhile in the U.K., FTSE 100 futures were down 0.06%.
Dow Jones Industrial Average futures were down 0.06%, while the S&P 500 futures were also down 0.06%.