Shares are mostly higher in Asia after U.S. stocks rose following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies

By Ankur Banerjee SINGAPORE (Reuters) -Asian equities fell on Wednesday after a disappointing outlook from Europe's biggest tech firm ASML dragged down chip stocks, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar.

Shares of Japanese semiconductor manufacturing firm Tokyo Electron logged the biggest loses, dropping nearly 10%.

Asian equities fell on Wednesday after disappointing earnings from Europe's biggest tech firm ASML dragged chip stocks around the world, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar.