(Bloomberg) — Stocks in Asia slid following a sluggish US session, with investors seeking firm evidence of an earnings recovery before taking this month’s rally further. The dollar gained.
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Japanese equities underperformed, as Nintendo tumbled on a weak outlook and Toyota Motor’s profit forecast disappointed. A recent rally in Hong Kong and mainland Chinese shares halted as investors looked ahead to a slew of major tech earnings due next week.
The dollar advanced for a third session as Treasury yields inched higher. Federal Reserve Bank of Minneapolis President Neel Kashkari said it’s likely the central bank will keep rates where they are “for an extended period of time.” The yen extended losses despite warnings from the central bank governor.
“We’re seeing some consolidation in Asia equities today after a lackluster Wall Street session,” said…
