Asian shares mixed after earnings reports

Shares in Japan, Hong Kong, and South Korea retreated, while those in China and Australia were little changed.

Apr 18, 2019 03:04 IST India Infoline News Service

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Equity benchmark indices in Asian markets were trading on a mixed note on Thursday after the latest batch of corporate earnings boost their US counterpart slightly.

Shares in Japan, Hong Kong, and South Korea retreated, while those in China and Australia were little changed. Earlier, the S&P 500 Index closed lower, led by a drop in health-care providers on concern about policy changes. Earnings from financials and transportation bellwethers painted a mixed picture on the state of the economy.

Investors have been growing more optimistic the anticipated drop in first quarter earnings won’t spoil the year as results continue to pour in. Chinese data Wednesday showed a stabilization in the world’s second-largest economy and helped to ease fears about the slowdown in global growth. Still, volumes are low and will likely remain so ahead of the upcoming Easter holidays in many countries.

On the currency front, the dollar edged higher and the yuan weakened. The Aussie fluctuated after a better-than-expected jobs report.

Source: Bloomberg

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