![Asia stocks mixed as profit-taking, tech woes offset catch-up play](https://www.portugalcolonial.pt/media/shared/articles/66/ca/cb/Asia-stocks-mixed-as-profit-taking--363446.jpg)
-
Child abuse scandals hang over pope's East Timor visit
-
Biden team, end in sight, keeps hope on Gaza truce despite setbacks
-
Sabalenka dedicates US Open to family 'who never gave up' on dream
-
Venezuela takes diplomatic jab at Brazil in spat over election
-
Multiple people shot along highway in US state of Kentucky
-
In Papua New Guinea, Pope holds mass 'at the edge of the world'
-
Hewett stays positive for wheelchair tennis despite agonising defeat
-
Three things on US Open champion Aryna Sabalenka
-
Sabalenka downs Pegula to win US Open thriller
-
USA slump to first home defeat against Canada in 67 years
-
Argentina hand Australia record 67-27 loss in Rugby Championship
-
England impress on Carsley bow, Germany, Dutch hit five
-
AFP photographer wins top prize for Gaza coverage
-
No Love for Packers for three weeks after ligament sprain: reports
-
Pedro Almodovar: chronicler of modern Spain crowned in Venice
-
Trump sounds dark tone at rally, Harris 'ready' for debate
-
Wirtz and Musiala dazzle to kick-start new Germany era
-
Chinese teenager takes 7th gold of Paris Paralympics
-
England interim boss Carsley 'respects' divided opinions over anthem
-
Neuville moves to the front in the Acropolis Rally
-
Garfield, Pugh charm Toronto in new romance 'We Live in Time'
-
21 boys confirmed dead in Kenya school inferno
-
Over 100,000 protest in France against new prime minister
-
Golden 30 minutes takes China to swimming Paralympics swimming domination
-
Green leads Australia to T20 series sweep of Scotland
-
Nigeria, Cameroon win afer chaotic AFCON build-ups
-
Nicole Kidman: A-lister, cinematic chameleon, wins in Venice
-
'I had to prove myself', says Kolisi after win against All Blacks
-
Almodovar wins top prize at Venice film festival
-
Grealish savours England redemption after 'worst summer'
-
Carsley makes flying start as England interim boss in win over Ireland
-
Springboks close on Rugby Championship with storming win over All Blacks
-
Sri Lanka's De Silva and Kamindu Mendis defy England in third Test
-
Farrell's Racing lose on opening day of Top 14
-
Dunbar takes second Vuelta stage as Roglic closes in on victory
-
Fritz eyes US Open glory to end 21 years of American hurt
-
Thousands protest in France against new prime minister
-
Trump to hold rally in swing state, Harris preps for debate
-
Stone at the double as Sri Lanka collapse against England in third Test
-
French tennis player takes legal action over online abuse
-
Italy backs Kyiv's 'legitimate defence' as Zelensky presses allies
-
The Body Shop rescued from administration after deal
-
Smoke and screams: The horror of Kenya's school dorm inferno
-
MotoGP leader Martin roars to victory in San Marino sprint
-
Ireland and UK to 'reset' relations as Starmer begins Dublin visit
-
Ma Lin turns brutal encounter with bear into glorious Paralympic career
-
Flintoff appointed England Lions head coach
-
Sri Lanka hit back as Pope falls during England collapse in second Test
-
Kyiv hits Russian ammo depot as Moscow advances in east
-
Italy PM states 'determined' support as Zelensky presses allies
![Asia stocks mixed as profit-taking, tech woes offset catch-up play](https://www.portugalcolonial.pt/media/shared/articles/66/ca/cb/Asia-stocks-mixed-as-profit-taking--363446.jpg)
Asia stocks mixed as profit-taking, tech woes offset catch-up play
Asian markets were mixed Thursday, with a split between those suffering from profit-taking following a recent rally and those that were playing catch-up after a midweek break across much of the region.
Wall Street provided another healthy lead after rising for a fourth day -- helping pare January's steep losses -- but the positivity was dealt a blow after the close as Facebook parent Meta's sobering earnings fuelled fresh worries about the tech sector.
The gloomy mix of a sharper-than-expected drop in profit, a decrease in users and threats to its ad business followed disappointing results from streaming titan Netflix, indicating the pandemic-era sugar rush enjoyed from people being holed up at home has come to an end.
The weak readings provided a reality check that while the world economy is on the mend and many firms such as Apple are enjoying healthy earnings -- despite higher inflation and looming interest rate hikes -- the coming year is unlikely to be straightforward.
In early Asian trade, Tokyo, Sydney, Wellington, Manila and Jakarta all fell, having enjoyed a very strong week so far. However, Singapore and Seoul were both up around two percent on their first day back after the Lunar New Year break.
Hong Kong, Shanghai and Taipei were still closed. US futures turned sharply lower with Meta plunging about 20 percent in after-hours trade.
Meanwhile, traders are also still obsessing over the Federal Reserve's timetable for hiking interest rates, with speculation rife over how much it will raise them in March and how many more times this year.
Several officials have come out in recent days to soothe concerns about a hard and fast approach, though January inflation data released next week will be closely watched for an idea about the central bank's plans.
Private jobs data Wednesday did little to provide any clarity, with more than 300,000 jobs lost in the sector -- against an expected rise of 180,000 -- but officials put that down to the impact of Omicron, which saw millions of people infected during the time of the survey.
Still, National Australia Bank's Rodrigo Catril said a big miss in Friday's closely watched official figures could affect the Fed's planning.
"Overall, there is a general sense that this is a temporary setback which arguably could extend into February, making interpretation of the state of the US labour market a difficult task over the near term," he said in a note.
"Forecasts for Friday's payrolls are now all over the place with many calling for a negative print in January.
"Depending on the magnitude of the disruption, this can potentially become a solid excuse for the Fed to wait on the sidelines after a first rate hike in March," he added.
"A theme to watch, but for now this is yet another reason to push back on the notion of more than four rate hikes this year."
Before the upcoming jobs reading, focus is on Thursday's meetings of the European Central Bank and Bank of England. While the latter is tipped to unveil another rate hike to help curtail surging prices, the ECB is tipped to remain unmoved.
However, while officials in Frankfurt continue to insist the upward price pressures are temporary, they will be coming under pressure to act after data Wednesday showed inflation at a record high.
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: DOWN 1.1 percent at 27,227.94 (break)
Hong Kong - Hang Seng Index: Closed for a holiday
Shanghai - Composite: Closed for a holiday
Euro/dollar: DOWN at $1.1299 from $1.1304 late Wednesday
Pound/dollar: DOWN at $1.3560 from $1.3573
Euro/pound: UP at 83.33 pence from 83.28 pence
Dollar/yen: UP at 114.44 yen from 114.42 yen
West Texas Intermediate: DOWN 0.7 percent at $87.67 per barrel
Brent North Sea crude: DOWN 0.5 percent at $89.05 per barrel
New York - Dow: UP 0.6 percent at 35,629.33 (close)
London - FTSE 100: UP 0.6 percent at 7,583.00 (close)
E.Paulino--PC