Asian stocks edge up after positive earnings from American tech titans

Asian stocks edge up after positive earnings from American tech titans

On Friday, Asian equities rallied because technology stocks were driven by positive earnings from American hi-tech giants. Meanwhile, the common currency stuck to three-month minimum versus the evergreen buck the ECB dared to extend its stimulus.

Japan's Nikkei N225 soared 0.6%, South Korea's Kospi KS11 inched up 0.2%, while Australian equities tacked on 0.2%. As for MSCI's index of Asia-Pacific stocks, it didn’t change in dollar terms.

Revenues of Microsoft, Alphabet and Amazon were all positive. It underpinned their equities in after-hour trade.

Before this, the US benchmark S&P 500 Index soared 0.1% approaching the record maximum hit the previous week, due to the strengthening global economy as well as firm corporate earnings.

As third-quarter earnings season is getting closer to the half-way mark, up to 74% of American companies have topped hopes, exceeding the 72% beat rate for the last four quarters.


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