Asian equities step back from 2007 maximum
On Wednesday, Asian stocks stepped back from testing their 2007 record maximum because traders booked profits in high-tech equities, while crude hit three-year maximums because of output cuts and a sag in inventories.
MSCI's index of Asia-Pacific equities dived 0.3% after six straight days of revenues until Tuesday, which had taken it within a step from the record peak hit in November 2007.
As for information technology shares, they led the dip with a 1.1% dive because Samsung Electronics extended its losses. As a matter of fact, the tech company's revenue guidance disappointed traders and raised worries that the memory chip boom might be coming to its end.
Japan's Nikkei descended 0.2%, diving from 26-year peaks reached yesterday.
Revenues for S&P 500 companies are believed to soar 11.8% in the fourth quarter versus an 8% jump in 2017, according to Thomson Reuters I/B/E/S.
The common currency descended to $1.1945 versus $1.2028 at the end of the previous week.
The US-China trade war escalates
More tariffs were introduced
Stocks of technological companies fell, pay attention to earnings
Yesterday, the US Justice Department announced a broad antitrust review ...
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