Asia markets stage slight recovery

Hong Kong

Most Asian markets rose Thursday after the previous day’s sharp losses but technology firms fell after Apple slashed its revenue forecasts blaming slowing China sales. The yen pared early sharp gains from a flash crash, which saw the dollar briefly plunge to its lowest level since March after the Apple announcement, while the Australian dollar hit a 10-year low against the greenback.
Investors trod cautiously as bargain-buyers capitalised on Wednesday’s hammering across Asia, while sentiment remains weak owing to uncertainty over a number of issues including China-US trade, China’s economic woes, the US government shutdown and Brexit.
Wall Street and European markets mostly recovered from early losses to end slightly higher but Apple’s announcement that it expected to earn less than expected in the key December quarter send shudders through markets.
The firm, which was already under pressure over signs that sales of its new iPhone were coming up short, blamed sluggish demand in China for the cut and citing the US trade war as a factor.—APP

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