Asian shares and U.S. futures are mixed after Google parent Alphabet’s earnings disappoint
Asian shares and U.S. futures experienced a mixed reaction on Thursday, as some major technology stocks underperformed following disappointing earnings from Google parent Alphabet Inc. The Federal Reserve maintained interest rates during their policy meeting, with analysts predicting a rate hike in December due to persistently high inflation.
The European Central Bank held a meeting on Thursday, while the Bank of Japan decided to keep rates unchanged. Oil prices dropped more than 1%, amid warnings of potential renewed military action against Iran post-November midterm elections. Japan's Nikkei 225 rose slightly, while South Korea's Kospi index declined. Samsung Electronics, a significant player in the Korean market, saw its shares plummet 5.4% despite strong quarterly results, as disappointing shareholder return policy arrangements frustrated investors.
SK Hynix, a memory chipmaker, experienced a 10.9% increase in shares following better-than-expected quarterly results. Taiwan's Taiex declined 1.9%, and Hong Kong's Hang Seng index edged higher. The Shanghai Composite index declined 0.9%. The U.S. dollar weakened against the Japanese yen and euro.
Written by urgent.news from Winnipeg Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
