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Markets were subdued ahead of second quarter earnings from Alphabet <GOOGL.O> and Tesla <TSLA.O> released after the close of regular trade on Tuesday. The first of the market-leading mega caps to report left a mixed picture for after-hours trade with scope to spill across time zones on Wednesday.
Shares of both companies fell despite reporting higher-than-expected revenue.
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Meanwhile, Japan’s Nikkei .225 is just off five straight down days in part due to the weak yen. The currency rose to 155.615 per dollar <JPY=EBS> by late U.S. trade after a senior ruling party official called for the BOJ to normalize monetary policy and keep interest rates steady.
Taiwan’s stock market shrugged off those losses and is Asia’s best performer this year, thanks in large part to TSMC <2330.TW>, Asia’s most valuable listed company, which rose more than 4% Tuesday. But concerns remain over Washington’s likely curbs on semiconductor sales to China.
Four of the five remaining Magnificent 7 mega caps – Meta <META.O>, Microsoft <MSFT.O>, Amazon <AMZN.O> and Apple <AAPL.O> – report next week. Investors must wait until later in August for AI super-mega Nvidia’s <NVDA.O> numbers.
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For more news, visit Reuters.com
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