Market Overview - Asian shares are mostly lower as the recent rebound driven by technology shares loses momentum [1] - U.S. futures showed little change and oil prices declined [2] Technology Sector - Criticism has arisen regarding the high valuations of tech shares, drawing parallels to the 2000 dot-com bubble [2][5] - Nvidia significantly contributed to market gains, rising 5.8% after a previous drop [5] Currency Movements - The U.S. dollar increased to 154.15 against the Japanese yen, influenced by expectations of delayed debt trimming and increased spending in Japan [3] - The euro slightly rose to $1.1563 [3] Regional Market Performance - The Nikkei 225 index in Tokyo fell by 0.5% to 50,675.92 [2] - Hong Kong's Hang Seng index decreased by 0.2% to 26,595.97, while the Shanghai Composite index dropped 0.4% to 4,002.06 [3] - South Korea's Kospi index initially rose over 1% but closed up 0.4% at 4,087.56 [4] - Australia's S&P/ASX 200 fell by 0.2% to 8,818.80 [4] U.S. Market Performance - The S&P 500 increased by 1.5% to 6,832.43, and the Dow Jones Industrial Average rose by 0.8% to 47,368.63 [4] - The Nasdaq composite rallied by 2.3% to 23,527.17 [5] Company Earnings - Approximately 80% of S&P 500 companies that reported results exceeded analysts' profit expectations [8] - Companies are under pressure to deliver strong profits to justify their stock price increases since April [9] Specific Company Updates - Berkshire Hathaway's shares slipped 0.4% as CEO Warren Buffett indicated that many companies may outperform due to Berkshire's size [7] - Tyson Foods' shares rose by 2.3% after reporting stronger-than-expected profits for the latest quarter [7]
Asian shares mostly lower despite Wall St rally, potential end to the US shutdown