Asian bourses fall as Amazon and Alphabet spark US earnings fear
MSCI’s index is off 3% this week, as concern about global trade and growth deepens
Shanghai — Asian shares slipped again on Friday morning, deepening this week’s markets rout, after disappointing results from Alphabet and Amazon.com heightened concern about the outlook for US corporate earnings, global trade and economic growth. The wobbly start for regional bourses came despite a bounce on Wall Street overnight, which was helped by bargain-hunting and positive earnings from Microsoft. Those gains were put into perspective, however, as shares of both Amazon.com and Alphabet fell sharply after the closing bell on disappointing earnings. Predictably, the Nasdaq futures turned down 1% and S&P E-mini futures fell 0.8%, underscoring broad worries about US corporate earnings, and the outlook for the economy, which triggered a plunge on Wall Street on Wednesday and sent global markets into a tailspin. In Asia on Friday, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.69%, erasing tiny gains made in the opening hour. The index has been bruised by a h...
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