RPT-GLOBAL MARKETS-Asia stocks down on consumer demand fears
* Series of U.S. earnings misses, warnings pummel sentiment
* FX market remains sceptical about financial sector
* Healthcare sector scores with investors globally (Repeats to more subscribers)
HONG KONG, July 22 (Reuters) - Asian stocks outside of Japan fell on Tuesday after a landslide of lower-than-expected U.S. corporate results sparked fears of a pullback in consumer demand, boding ill for the region's exporters.
The U.S. dollar was steady after falling overnight as dealers shrugged off higher-than-expected results from the top two banks Citigroup Inc (C.N: Quote, Profile, Research) and Bank of America Corp (BAC.N: Quote, Profile, Research) and continued to be sceptical about the stability of the financial sector.
"What really matters is that we're in a bear market and there is no reason to believe that that's going to change in the near future," said Adnan Kucukalic, equity strategist at Credit Suisse First Boston. "Banks are cheap and that's a very good thing but there is no reason for you to get into them in a hurry."
In Japan, a focus on some U.S. bank results that beat forecasts and hopes for industrial companies lifted shares and shed a rare glimmer of light in Asia equity markets, which are entrenched in a bear market, down more than 20 percent from a November all-time high.
The Nikkei share average .N225 jumped 1.3 percent as trade resume after a public holiday on Monday. Shares of Honda Motor Co (7267.T: Quote, Profile, Research) rose 2.3 percent and were one of the biggest boosts to the index ahead of the company's results due on Friday. Continued...
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