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Asia shares slip as US earnings disappoint, dollar gains

Equity Tips

Asian shares flirted with three-week lows on Wednesday after a dour start to Wall Street's corporate earnings season knocked US stocks, while the dollar and Treasury yields rose on growing expectations of a US rate hike in December.

The British pound jumped back from lows in a volatile trading session though concerns about a "hard Brexit" are likely to keep the currency under pressure.

US S&P 500 Index fell 1.2 percent to near one-month low, and dipped below its 100-day moving average - seen as a major support - for the first time since June.

"The markets had relied on expectations of monetary stimulus for a long time but that is changing with bond yields rising around the world. You have rising interest rates and falling EPS. That's obviously bad for stocks,"

US interest rate futures are pricing in about 75 percent chance of a rate hike by December, little changed over the past couple of days.

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