According to The Wall Street Journal, Asian stocks moved lower Friday, though Australia managed to rise, in a session heavy in corporate earnings.
South Korea’s Kospi slid 1.1%, with the index’s largest single constituent, Samsung Electronics 005930.SE 0.00% down 1% after it reported third-quarter net profit had risen 25.6% to another record. Before the results, the stock enjoyed a strong run-up, and remains 5% higher so far in October.
Also in Seoul, LG Electronics 066570.SE -3.42% dropped 3.7% after it reported a 34% decline in net profit over the same period.
In Hong Kong, shares of Chinese auto maker Great Wall Motor GWLLY -4.22% shed 5.8% after reporting weaker profit margins in the third quarter.
In Japan, Canon 7751.TO -1.60% fell 1.1% after it lowered its full-year net profit forecast to ¥240 billion ($2.46 billion) from a previous estimate of ¥260 billion set in July. Mitsubishi Motors 7211.TO +1.17% Corporation added 1.8% after the car company increased its profit outlook.
More broadly, the absence of fresh catalysts left regional markets to drift lower.
In Japan, the Nikkei remained under pressure from a yen that has firmed up in recent sessions. The Japanese currency maintained its strength, last at ¥97.21 to the dollar, helping to pull the Nikkei down 1.7%.