LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Business News » World News

Asian shares pull back after US techs knocked off highs

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
Updated: Fri, Jul 28, 2017
06:24 am
Reuters

Asian stock markets sagged on Friday after U.S. tech shares retreated from recent rallies, though optimism on U.S. corporate earnings and the global economy underpinned overall sentiment.

MSCI`s broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> fell 0.4 percent in early trade, with Samsung Electric , Asia`s largest company by market capitalisation, dropping 2.0 percent.

Japan`s Nikkei <.n225> shed 0.3 percent.

On Wall Street, the Dow industrials set a record closing high, helped by a 7.7 percent jump in Verizon , following the top U.S. wireless carrier`s quarterly earnings.

But investors were spooked by a sudden drop in technology and transportation shares. The S&P 500 technology sector <.splrct> fell 2.0 percent at one point before ending the day down 0.8 percent.

The slide came even as Facebook shares gained 2.9 percent on the social media company`s results, though Amazon.com shares fell 3.2 percent after the bell following the e-commerce company`s results.

Yet investors` sentiment remained solid on the back of upbeat corporate earning results and a bright global economic outlook.

"Given the Dow is hitting a record high, it`s hard to think market sentiment has suddenly changed," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management.

The S&P 500 index <.spx> is on track to post back-to-back, double-digit quarterly earnings growth for the first time in almost six years.

U.S. durable goods orders, published on Thursday, surged 6.5 percent last month, the biggest gain in three years

The bullish report came on the eve of the government`s advance second-quarter gross domestic product estimate on Friday.

Economists expect the data to show growth picking up to 2.6 percent from 1.4 percent in January-March.

A series of Japanese economic data released on Friday came in stronger than expected, with household spending rising more than expected and the jobless rate falling unexpectedly.

MSCI ACWI <.miwd00000pus>, a gauge of the world`s 47 stock markets in dollar terms, hit record highs, having gained 2.8 percent so far this month,

If the gains are sustained by month-end it would mark the biggest monthly jump in a year and the ninth consecutive month of increases - the longest such spell since 2003-04.

In the currency market, the dollar regained some footing after slumping to a 13-month low against a basket of major currencies the previous day following the Federal Reserve`s policy statement.

The euro consolidated at $1.1684, after hitting a 2 1/2-year high of $1.1777 on Thursday.

The dollar steadied around 111.21 yen , a tad above Monday`s low of 110.625, its lowest in more than five weeks.

Oil prices held near eight-week high hit on Thursday, supported after key OPEC members pledged to reduce exports and the U.S. government reported a sharp decline in crude inventories.

Brent crude futures fetched $51.51 per barrel, after having climbed to $51.64 on Thursday.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Google Play Store removes 453 digital personal loan apps in India since Dec 28 in crackdown against unfair online lending | #OperationHaftaVasooli

Samsung Galaxy 21, Galaxy S21+ and Galaxy S21 Ultra launched | Check Price, Camera, Specifications, Pre-booking and Cashback offers

PUBG Mobile India launch date: Rumours rage with this announcement; will the Battle Royale Game make comeback? Check latest report

Mid-cap Stock Picks With Anil Singhvi: Buy IRCTC, Trident and Speciality Restaurants shares for good returns

HDFC Securities highlights that 14563-14256 is the resistance/support for the Nifty in the near term

Budget Stock Picks With Anil Singhvi: This insurance company is market expert Sudip Bandyopadhyay’s top pick

Exclusive: Tread with caution in 2021, expert Mehraboon Irani tells investors; reveals his favourate stocks, budget expectations to Anil Singhvi

HDFC Securities highlights that 14563 and 14256 is the resistance / support for the Nifty in the near term

Budget 2021 Expectations: This budget should focus on boosting manufacturing and creating jobs, says Deepak Jasani

Ind vs Aus 4th Test: Centurion Labuschagne disappointed at not getting "big score"

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved