Asian Stocks Fall From 2-Week High as U.S. Earnings Disappoint
ByAsian stocks fell, with the regional benchmark index retreating from a two-week high, as technology-related shares declined after companies including Apple Inc. and Microsoft Corp. reported disappointing results.
The MSCI Asia Pacific Index fell 0.5 percent to 144.56 as of 9:08 a.m. in Tokyo. U.S. equity-index futures slipped as Apple tumbled more than 6 percent in extended U.S. trading after missing analysts’ estimates for revenue and iPhone shipments. Microsoft fell 4 percent on its record net loss.
“Markets are going to get more volatile,”said Nader Naeimi, head of dynamic asset allocation at AMP Capital Investors Ltd. in Sydney. “The earnings season in the U.S. is going to be quite weak. Investors are expecting too much from Apple, and that’s already reflected in the share price. How much more improvement can Apple deliver unless they introduce a radically different product from what competitors like Samsung are offering?”…
Asian Stocks Fall From 2-Week High as U.S. Earnings Disappoint
