Asian shares drop as American earnings disappoint

On Wednesday, Asian stocks hit three-week minimums after a dour start to Wall Street's corporate profit season knocked American stocks, while the greenback as well as Treasury yields were at multi-month peaks on growing expectations of an American interest rate lift in December.

The British pound leapt back from minimums in a volatile trading session, though worries regarding tough Brexit are likely to keep this currency under pressure.

Outside Japan, MSCI's broadest index of Asia-Pacific shares edged down 0.4% while Japan's Nikkei futures dropped 0.6%.

On Wall Street, the American S&P 500 Index descended 1.2% to near one-month minimum, and sank below its 100-day moving average – observed as a key support for the first time since June.

Stocks of aluminum producer Alcoa sank 11.4%, while diagnostics test maker Illumina lost 24.8% following their disappointing earnings, and casting a pall over the market.

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