Stock market today: Asian shares follow Wall Street lower, and Japan reports September exports rose

BANGKOK — Shares tumbled in Asia on Thursday following a retreat on Wall Street after big U.S. companies delivered mixed profit reports and Treasury yields added pressure on stocks.Benchmarks in Hong Kong, Tokyo and Seoul fell about 2%.Exports rose 4.3% while imports sank 16.3% in September and the trade balance swung to a surplus of 62.4 trillion yen . Exports to the U.S. were up 13% while those to the rest of Asia declined 4.3%.

Hong Kong's Hang Seng index declined 2.2% to 17,349.79 and the Shanghai Composite index was down 1.6%, at 3,010.03. Australia's S&P/ASX 200 sank 1.4% to 6,981.60.“Another surge in Treasury yields, lingering geopolitical tensions in the Middle East and higher oil prices seem to dampen appetite in risk-taking for now,” Yeap Jun Rong of IG said in a report.

On Wednesday, the S&P 500 sank 1.3% and the Dow Jones Industrial Average lost 1%. The Nasdaq sank 1.6%.share price fell 4.2% in afterhours trading after it reported its net income slumped in the third quarter, as price reductions helped drive strong sales growth but ate into the automaker’s profit margins.jumped 12.

The earnings reporting season for the summer is just starting and the broad expectation is for S&P 500 companies' overall earnings per share to have climbed in the last quarter for the first time in a year. Yields have climbed as the U.S. economy has remained remarkably resilient, even after the Federal Reserve raised its main interest rate to the highest level since 2001. High rates and yields hurt prices for stocks and other investments.

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