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MTECHTIPS:-Asian shares edge lower, eye on corporate results
Asian shares edged lower on Friday as investors kept a wary eye on corporate earnings results under way.The MSCI index of Asia-Pacific shares outside Japan was down 0.2 percent. Australian shares held steady, drawing support from a rise in iron ore prices to a 3-month high.South Korean shares opened down 0.4 percent. Before trading began, Samsung Electronics, the world's largest electronics company and accounting for about 15 percent of Korea's benchmark KOSPI index, reported record quarterly profit of $7.4 billion on Friday.Samsung's results came just hours after Apple Inc, the most valuable public company in the United States, which posted quarterly earnings that fell short of expectations.In a sign how worries over a possible sharp tightening in the U.S. federal budget are already weighing on the economy, data showed on Thursday U.S. business investment may be stalling in September. But another report suggested a slowly healing labour market as the number of Americans filing for initial jobless claims fell last week.
Asian shares edged lower on Friday as investors kept a wary eye on corporate earnings results under way.The MSCI index of Asia-Pacific shares outside Japan was down 0.2 percent. Australian shares held steady, drawing support from a rise in iron ore prices to a 3-month high.South Korean shares opened down 0.4 percent. Before trading began, Samsung Electronics, the world's largest electronics company and accounting for about 15 percent of Korea's benchmark KOSPI index, reported record quarterly profit of $7.4 billion on Friday.Samsung's results came just hours after Apple Inc, the most valuable public company in the United States, which posted quarterly earnings that fell short of expectations.In a sign how worries over a possible sharp tightening in the U.S. federal budget are already weighing on the economy, data showed on Thursday U.S. business investment may be stalling in September. But another report suggested a slowly healing labour market as the number of Americans filing for initial jobless claims fell last week.
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