AFP, Hong Kong :
Asia markets tumbled Friday to end two days of gains as traders digested a host of disappointing corporate results and a fall in US technology stocks dented optimism.
Despite yet another Dow Jones record Thursday, Tokyo, Hong Kong and Shanghai were all down Friday, with sharp falls recorded in Seoul and Sydney.
The tech-heavy Nasdaq’s streak of all-time high closes ended Thursday with Apple, Google-parent Alphabet and Netflix shares all slumping at least 1.5 percent.
Investors were also spooked after internet colossus Amazon reported its profit shrank despite surging sales as it poured money into growth, with its shares slipping three percent.
The dollar, which had fallen sharply on Wednesday after a Federal Reserve policy statement highlighted a tepid inflation outlook, again drifted lower after staging a modest recovery on data showing US durable goods orders climbed more than expected.
Thursday figures also showed the US goods trade deficit fell, fuelling hopes of solid US growth data later in the day.
“Durable goods and trade data boosted the prospects for a solid GDP print for the second quarter in the United States,” said Greg McKenna, chief market strategist at CFD and FX Provider, AxiTrader.
“That we may have seen a near term pessimistic crescendo yesterday for the dollar is a real chance if the next week sees a run of better data in the States.”
The Dow closed at its second straight record following strong earnings from Verizon and Procter & Gamble and another gain by Boeing, which also surged Wednesday following strong results. But high-profile earnings disappointments pressured bourses in Europe with Deutsche Bank, Germany’s biggest lender, slumping 6.5 percent after reporting that operating profit more than doubled, while posting a 10 percent decline in revenue.
