Asian Shares Fall as Alphabet Miss Wipes $400 Billion Off Value
Updated
Updated · Reuters · Oct 29
Asian Shares Fall as Alphabet Miss Wipes $400 Billion Off Value
3 articles · Updated · Reuters · Oct 29
Summary
$400 billion in erased market value from Alphabet’s 10% after-hours slide pulled Nasdaq futures down 1% and knocked Asian equities off earlier gains.
MSCI’s Asia-Pacific ex-Japan index fell 0.7%, South Korea’s KOSPI dropped 2.6% and Japan’s Nikkei trimmed gains to 0.3% as investors weighed uneven AI-linked earnings.
Samsung reported record third-quarter operating profit up nearly ninefold on AI-chip demand, yet its shares fell more than 4%; SK Hynix rose 1.3% after an 11% jump the previous day.
Amazon and Intel results later Thursday now loom larger, while investors also await U.S. core PCE data after the Fed held rates steady but saw two dissenters favor a hike.
Markets still price an 80% chance of a December Fed increase, even as Treasury yields steadied and the ECB was expected to leave rates unchanged later Thursday.