Asian shares look for rebound following tech earnings

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Asian markets looked to continue an upward swing on Friday, after a rebound in U.S. equities and strong corporate earnings set the stage.

all beat analyst estimates for quarterly revenue, with Amazon reporting a second straight quarter of record profits.

U.S. stocks enjoyed a rebound Thursday after a significant selloff the day prior. They were boosted by a stronger-than-expected report on U.S. economic growth in the third-quarter, which found record expansion but lingering scars from the pandemic. “Even with the rebound, US output remains 3.5% below its pre-COVID levels. The path towards recovery is much less clear from here, especially as the number of virus cases grows and there are near-term impediments to a fiscal deal,” wrote ANZ analysts in a note.

 

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