Technology companies have been the worst performers. Other Asian markets also lost ground after China failed to meet ongoing expectations for monetary easy. The Shanghai composite index was off 0.5 per cent at the close of the ASX on a deteriorating earnings outlook and concerns local governments would take further steps to cool property prices. Japan's Nikkei index initially lost more than one per cent after September exports fell 10 per cent, the most in more than a year, but the index rallied to be little changed at the close of the ASX. "It seems investors feel downside risks to earnings have lessened, but aren't convinced about upside risks; and that the attraction of equities is to a significant extent their high yields," Citigroup strategist Tony Brennan wrote in a client note. "In Australia, there also seem doubts about the rally, coming as it did during weak earnings in reporting season, and with risks to the economy after the bulk commodity price falls and capex deferments."