Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

Asia-Pacific markets rise; investors to watch tech stocks as Alibaba earnings miss expectations

by
November 19, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Germany’s much-vaunted trade surplus disappears as import prices surge

Yum Brands says it is close to selling its Russian KFC business

SINGAPORE — Asia-Pacific markets rose in early trade on Friday, as Wall Street mostly lifted overnight supported by strong earnings. Alibaba, however, disappointed investors as it missed earnings expectations.

Japan’s Nikkei 225 rose 0.38%, while the Topix was up 0.25%. Investors are on the lookout for an expected announcement of a record $488 billion stimulus package in Japan later on Friday, with Reuters citing media reports.

South Korea’s Kospi was up 0.70%. Tech stocks jumped, with LG Electronics soaring over 10%. SK Hynix rose around 1%.

Australia’s ASX 200 was also in positive territory, edging up 0.30%.

Investors will be watching Chinese markets on Friday after a broad sell-off in tech stocks the day before. The Nasdaq-style technology board, Hang Seng tech index, sold off nearly 3%. Major tech names declined sharply, with Alibaba dropping over 5%, and JD and Baidu also falling.

On Thursday, Alibaba missed revenue and earnings expectations for the September quarter, as slowing economic growth in China weighed on results. It reported revenue of 200.69 billion yuan ($31.4 billion), less than the 204.93 billion yuan estimated but still a 29% year-on-year rise. The company reported earnings per share of 11.20 yuan, less than an estimate of 12.36 yuan and a 38% year-on-year decline.

Alibaba’s U.S.-listed shares fell 11.1% on Thursday.

U.S. markets were mixed overnight, although strong earnings lifted some indices. The S&P 500 was 0.3% higher to 4,704.54 and the Nasdaq Composite rose 0.5% to 15,993.71. The Dow fell 60 points, or 0.1%, dragged lower by big losses in Cisco shares.

The S&P 500 fell as much as 0.3% at one point before recovering, after strong earnings from Nvidia, the world’s largest chipmaker by market value, and various retailers. Other chipmakers also rose as Nvidia’s strong results lifted optimism for the sector.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.544 — falling sharply from levels above 95.8 earlier.

The Japanese yen weakened slightly, trading at 114.31 per dollar. The Australian dollar was at $0.7277, down marginally from levels around $0.728 earlier.

In the oil market, U.S crude declined again after rising in the previous session following a drop to six-week lows. It was down 0.32% around $78.76 per barrel in the morning during Asia hours.

— CNBC’s Arjun Kharpal contributed to this report.

ShareTweetPin

Related Posts

Germany’s much-vaunted trade surplus disappears as import prices surge

by
July 5, 2022
0

Germany trade entered negative territory in May, raising questions about the stability of its economy in the wake of Russia's...

Yum Brands says it is close to selling its Russian KFC business

by
July 5, 2022
0

In this article YUM A woman walks near closed KFC and McDonald's restaurants that suspended their business in Russia due...

Dow falls 700 points as Wall Street grapples with recession concerns

by
July 5, 2022
0

Traders on the floor of the NYSE, July 1, 2022. Source: NYSE Stock futures were lower early on Tuesday morning...

Seeking at Least 11% Dividend Yield? Analysts Suggest 2 Dividend Stocks to Buy

by
July 5, 2022
0

Insider Monkey 10 Best Bargain Stocks To Buy Right Now In this article, we discuss 10 best bargain stocks to...

Borrowers are on edge—will Biden cancel student debt or not? Here’s what’s going on.

by
July 5, 2022
0

This article is reprinted by permission from NerdWallet.  The “will he, won’t he” summer of student debt cancellation is upon us. The...

Next Post

Hong Kong's Hang Seng slips as Alibaba shares drop 9% after disappointing earnings

The crypto investors who raised $47 million to buy a copy of the Constitution lost their bid

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Allbirds stock has plunged 50% in two months, now one top analyst says buy it

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com