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Asian stocks fall as Micron sparks tech losses, China data weighs

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Asian stocks fall as Micron sparks tech losses, China data weighs

Investing.com-- Most Asian stocks fell on Thursday as technology shares tracked weakness in their U.S. peers following underwhelming guidance from chipmaking major Micron.

Regional markets took middling cues from Wall Street, which ended a smidge higher in choppy trade. But U.S. stock index futures sank on Thursday as middling revenue guidance from the Micron Technology Inc (NASDAQ:While Micron’s quarterly earnings beat expectations, its revenue guidance for the current quarter disappointed investors hoping for more, especially given that the stock was sitting on an over 100% valuation spike since last year. Micron sank nearly 8% in after-hours trade.

The Chinese Communist Party is set to hold its Third Plenum- a key meeting of high-level officials- in July, where it is likely to unveil more economic support.

 

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