Asian stock markets mixed

The Asian markets are mixed ahead of the upcoming quarterly figures of the major US technology companies. In Japan, the leading Nikkei index rose despite political uncertainty following the ruling party's loss of majority, while the Chinese stock exchanges came under pressure. The Shanghai stock exchange lost 0.6% to 3300.52 points. The index of the most important companies in Shanghai and Shenzhen fell by 0.6% to 3940.23 points. In Tokyo, the Nikkei index, which comprises 225 stocks, rose by 0.7% to 38,872.30 points, while the broader Topix was up 0.9% at 2681.40 points. Positive company figures and price gains on Wall Street supported sentiment. "Share prices have already fallen far enough that there should now be a revaluation," said Kenji Abe from investment bank Daiwa Securities. Technology stocks such as the investor specializing in artificial intelligence $9434 (-0,04 %) SoftBank, which specializes in artificial intelligence, rose by 2.2%, the chip tester manufacturer $6857 (-2,53 %) Advantest by 1.5%.

Attention is now turning to the upcoming quarterly figures of major technology groups such as $GOOGL (-1,64 %)
$GOOG (-1,59 %) Alphabet, $META (-0,22 %) Meta and $MSFT (+0,63 %) Microsoft. "The results of the Magnificent Seven will set the tone this week," said one trader. Alphabet, the parent company of Google, will open the round of tech giants on Tuesday, followed by Facebook parent Meta Platforms and Microsoft on Wednesday and $AAPL (+1,48 %) Apple and $AMZN (-1,08 %) Amazon on Thursday.

• FuW, 29.10.2024