Asian shares fall as Alphabet earnings miss drags Wall St futures lower
Asian stock markets declined as investors reacted to mixed earnings reports from major tech companies like Alphabet and Microsoft. Concerns over AI-related cash burn and interest rate outlooks continue to drive market volatility.
Why it matters
Global market performance is heavily influenced by the earnings of major tech firms and central bank policy, impacting investor sentiment worldwide.
FILE PHOTO: A trader works, as a screen broadcasts a press conference by US Federal Reserve Chair Kevin Warsh following the Fed rate announcement, on the floor of the New York Stock Exchange (NYSE) in New York City, US, July 29, 2026. REUTERS/Brendan McDermid/File Photo
SYDNEY: Asian shares gave up earlier gains on Thursday (Oct 29) as AI-related earnings announcements prompted wildly mixed responses, raising the stakes for Amazon and Intel results due later in the day.
Hefty cash burn from Alphabet sent its shares 10 per cent lower in after-hours trading, wiping nearly US$400 billion off its market value. That drove Nasdaq futures 1 per cent lower. Microsoft, by contrast, beat forecasts with better-than-expected cash flows that lifted its shares by 3 per cent.
Headlinne story · 4 newsrooms
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