Asian Stocks in Tight Range After Big Tech Results: Markets Wrap

-- Most Asian stocks traded in narrow ranges following losses on Wall Street after an unimpressive start to the earnings reports from the “Magnificent Seven” megacap technology companies.Equity benchmarks in Japan edged lower while those in China opened with small gains. US shares dropped Tuesday as traders assessed earnings after the closing bell from corporate America’s largest businesses including Tesla Inc. and Alphabet Inc.

Upbeat earnings on Wall Street would be a much-needed driver for equities after a bumper first half of the year. The market is facing pressure heading into a seasonally weak period, with volatility likely to be heightened by the US presidential election. In addition to the woes for Big Tech, United Parcel Service Inc. suffered its worst plunge ever on a profit miss.

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