Asian stocks moved lower on Wednesday after a disappointing round of earnings from Alcoa (AA) - Get Report and others hammered Wall Street.

In Japan the Nikkei 225 closed down 1.09% at 16,840.00 and the Topix closed down 1.03% at 1,342.35. A government report showed machinery orders in August came in better than expected, falling only 2.2% on the month instead of the 5.5% decline analysts had penciled in.

Banks were among the main decliners in the region, including Mitsubishi UFJ Financial and Sumitomo Mitsui Financial in Tokyo, down 2.4% and 2.1%, respectively, and Bank of Communications, Bank of China and Industrial & Commercial Bank of China in Hong Kong. Those institutions were recently down 2.8%, 2.5% and 2.2%.

The Hang Seng equities benchmark dropped 1.0% to 23,314.27.

In Seoul Samsung Electronics (SSNLF) was recently down 0.7% after the company yesterday pulled the plug on its Galaxy Note 7 smartphone after replacement devices had continued to catch fire.

The pound was recently up 1.15% against the dollar at $1.2263 after Bloomberg reported that U.K. Prime Minister Theresa May would allow parliament to vote on the eventual shape of Brexit.

The euro was down 1.21% against the U.K. currency at €0.9008.

U.S. stock futures edged higher, with the Dow Jones mini up 0.06%, the S&P 500 mini up 0.5% and the Nasdaq 100 mini up 0.05%.

In Sydney the S&P/ASX 200 was down 0.09% at 5,474.62.

The yield on the Australian 10-year bond was recently up six basis points at 2.30%. The government today sold A$7.6 billion ($5.8 billion) of new 30-year loans.

On the CSI 300 was recently down 0.34% at 3,295.31.

(Alcoa is a core holding of Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)