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- Global Stocks: Asian indices rose despite declines in U.S. stocks
Global Stocks: Asian indices rose despite declines in U.S. stocks
U.S. stock indices declined after earnings reports from various companies, including such tech giants as Apple and Microsoft, missed forecasts.
Microsoft shares lost 3.7% (the company reported a $3.2 billion quarterly loss in its fiscal fourth quarter on Tuesday afternoon). Apple shares fell 4.2% Wednesday as iPhone sales missed some overly optimistic estimates.
The Dow Jones industrial average declined 68.25 points, or 0.4%, to 17851.04. The S&P 500 fell 5.06 points, or 0.2%, 2114.15. The Nasdaq Composite lost 36.35 points, or 0.7%, to 5171.77.
In Asia this morning Hong Kong Hang Seng added 0.64%, or 161.70 points, to 25,444.32. China Shanghai Composite Index rose 1.72%, or 69.39 points, to 4,095.44. The Nikkei rose 0.42%, or 85.56 points, to 20,679.23.
Asian stocks gained amid capital flows from Beijing. Large shareholders, who were blocked by regulators from selling stocks for six months, bought more shares instead of simply holding on to what they already had.
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