Asian markets mixed after US earnings

<p>Shares of Apple fell 4.2 per cent. </p>

Asian stock markets were mixed today (July 23rd) after a weak session on Wall Street, despite investors welcoming the news that Greece's parliament approved a new set of reforms demanded by creditors.

US stocks slipped overnight on weak earnings from IT and telecommunication firms. Shares of Apple fell 4.2 per cent after the tech giant posted lower-than-expected results. In addition, Microsoft posted its biggest quarterly loss, with shares tumbling 3.7 per cent. 

Meanwhile, Greece's parliament approved new creditor-demanded reforms to the judiciary and banking systems in a bid to receive a third bailout worth around €85 billion (£60 billion).

Investors also welcomed a smaller-than-expected interest rates cut from New Zealand central bank.

Japan's benchmark Nikkei 225 gained 0.4 per cent to 20,675.04 and Hong Kong's Hang Seng was up 0.7 per cent to 25,469.62. The Shanghai Composite index gained one per cent to 4,066.55. Australia's S&P/ASX 200 edged down 0.2 per cent to 5,601.80 and South Korea's Kospi lost 0.2 per cent to 2,061.34.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.