Asia: Tech firms big losers as most markets sink

[HONG KONG] Technology firms took a hit in Asia on Tuesday as two of the biggest names in the sector posted disappointing earnings, helping to drag most markets in the region into negative territory.

There were losses across asset classes, with energy firms hit by ongoing weakness in oil prices, which are well down from the six-month highs touched last week.But the tech sector was among the worst hit after Google parent Alphabet reported a 29-per cent drop in quarterly earnings on slower-than-expected revenue growth. The reading sent its shares plunging more than seven per cent in New York after-hours trade.

However, Shanghai rose 0.3 per cent after three days of heavy losses, while Wellington and Manila also gained slightly.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong, Shanghai stocks end sharply lower[HONG KONG] Hong Kong shares ended sharply lower Thursday, tracking a sell-off on Wall Street and across most of Asia, while Shanghai plunged more than two per cent on concerns China will ease up on its recent monetary easing measures. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Asia: Markets fluctuate as dealers brush off Wall Street record[HONG KONG] Asian markets fluctuated on Wednesday following a record-breaking close on Wall Street that was fuelled by strong earnings from US big-hitters. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »