Reuters
WSJ-DANIEL INMAN Reported that: Asian markets fell Wednesday on concerns over Europe’s debt crisis and as disappointing Apple AAPL +1.71% earnings in the U.S. pushed down technology manufacturers in Asia.
Sentiment was damaged by news of uninspiring corporate earnings in the U.S. overnight. At the forefront was Apple, which delivered disappointing numbers after the session in New York finished.
Below-expectation earnings from one of the world’s most famous consumer-electronics companies had knock-on effects on electronics companies in Asia, which was felt hardest in technology-heavy markets such as South Korea and Japan.
The Nikkei ended the day 1.4% down at 8365.90, putting the market back into negative territory for the year, as Japan was hindered by a stronger currency and a broad selloff in technology companies following the Apple results. The Japanese benchmark sank to a seven-week low, with bellwether electronics companies Sony SNE +4.24% andPanasonic 6752.TO +5.66% slumping 5.2% and 5.5% respectively.
