Asian shares wobble as Alphabet selloff weighs on U.S. futures
publishers 33articles 64first reported 18 Oct, 22:15 UTCdeveloping since 19 Oct · 14 editions
Asian shares traded unevenly Thursday as contrasting technology earnings pushed Wall Street futures lower. Alphabet shares fell 10% in after-hours trading, erasing nearly $400 billion in market value, as investors focused on the company’s heavy spending. Nasdaq futures dropped about 1%. Microsoft shares, meanwhile, gained 3% after the company reported stronger-than-expected cash flow.
MSCI’s index of Asia-Pacific shares outside Japan fell 0.7%. China’s blue-chip index declined about 0.9%, while Hong Kong’s Hang Seng edged higher. Japan’s Nikkei posted a modest gain.
In South Korea, Samsung Electronics reported that third-quarter operating profit rose nearly ninefold to a record, driven by demand for artificial-intelligence chips. Its shares nevertheless fell more than 4%, weighing on the KOSPI after the index’s sharp rise a day earlier. SK Hynix shares remained higher following strong earnings.
The Federal Reserve held interest rates steady, as expected, although two policymakers voted for an increase. Chair Kevin Warsh expressed greater confidence about the inflation outlook, prompting a Treasury rally. Investors were awaiting September personal consumption expenditures data, the Fed’s preferred inflation gauge; forecasts called for a 0.3% monthly increase in the core measure.
Oil prices also declined amid hopes that mediation efforts could ease tensions in the Middle East.
HOW THIS STORY WAS MADE
Written from 8 articles, 5 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 258 h after the record first saw the story; the editor kept it as written.
- Publishers
- 33
- Source articles
- 64
- Given to the writer
- 8, 5 with the article's own text
- Independent newsrooms
- 8
- This version written
- 258 h after the record first saw the story
- Second model (editor)
- kept as written
- Publication gate
- passed
- Human review
- none
WHAT THE EDITOR DID
The second model checked the writer's draft against the same sources and published it as written.
Written by a language model from the sources above, then checked by a second model that may only cut, attribute or correct. How it works →