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Asian markets mixed as strong US tech earnings offset poor data

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Markets were mixed on Friday after forecast-topping earnings from Microsoft and Alphabet helped soothe worries that a tech-fuelled rally may have been overdone, while the yen hit a fresh 34-year low after the Bank of Japan stood pat on interest rates.

Google-parent Alphabet soared with Microsoft in after-hours trade following forecast-beating earnings. Photo: Drew Angerer / GETTY IMAGES NORTH AMERICA/Getty Images via AFP

Investors were awaiting the release later in the day of the Federal Reserve's preferred gauge of inflation, personal consumption expenditures index, hoping for an idea about its plans for interest rates ahead of next week's policy meeting. Wall Street's three main indexes had earlier ended deep in the red -- though off initial lows -- following news that the USAt the same time, an index of core prices came in much hotter than forecast -- sparking fears the United States could be heading for a period of stagnant growth and spiking inflation.

"The Fed wants to see inflation start coming down in a persistent manner, but the market wants to see economic growth and corporate profits increasing."

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Asian markets mixed as traders assess latest rally, eye data and earningsMarkets were mixed in Asia on Wednesday following a negative day on Wall Street as observers warn the latest equities rally may have run out of steam, with investors looking for fresh catalysts to kickstart buying. All three main indexes on Wall Street ended in the red, having spent most of the day on the positive side of the line.
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Most Asian markets rise with earnings, US data in viewAsian markets mostly rose Tuesday, with hopes for earnings this week from tech titans helping to offset worries about the Federal Reserve's interest rate plans ahead of the release of key US growth and inflation data.
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