Asian Shares Wobble as Alphabet’s 10% Drop Knocks Nasdaq Futures 0.9% Lower
Updated
Updated · Reuters · Oct 29
Asian Shares Wobble as Alphabet’s 10% Drop Knocks Nasdaq Futures 0.9% Lower
3 articles · Updated · Reuters · Oct 29
Summary
MSCI’s Asia-Pacific index outside Japan fell 0.7% as trading turned erratic, with Nasdaq futures down 0.9% after Alphabet’s earnings miss hit sentiment across regional markets.
Alphabet sank 10% in after-hours trade, erasing nearly $400 billion in market value, after hefty cash burn and AI pressure on its core advertising business overshadowed still-solid AI and cloud revenue.
South Korea’s KOSPI dropped 1.2% as Samsung slid 4% despite record earnings, with investors disappointed by no new shareholder-return plans; SK Hynix still rose 4.6% after its $75 billion payout plan.
Japan’s Nikkei swung between gains and losses before rising 1%, while China’s CSI300 fell 0.8% and Hong Kong’s Hang Seng added 0.5% ahead of Amazon and Intel results later Thursday.
The earnings-driven volatility came after the Fed held rates steady but saw two dissenters favor a hike, while oil fell 1.2% to $113.91 on revived hopes for Middle East peace talks.