- Asian markets were divided in cautious trading on Thursday, as US stock futures fell following dismal earnings reports from businesses such as Netflix and Tesla. The offshore yuan strengthened. Hong Kong stocks gained, but Japan and South Korea sank. Australian stocks rose.
- Investors will be looking for earnings from Taiwan Semiconductor Manufacturing on Thursday to get a better sense of the semiconductor industry's demand. In month, sales at the world's largest provider of made-to-order chips decreased for the third month in a row.
- Nevertheless, S&P 500 and Nasdaq 100 futures crept higher in Asia after Netflix slumped 8.26% in postmarket trade after revenues missed projections and its Q3 guidance fell short. Tesla plummeted 4.19% after profit dipped in Q2, indicating that the electric vehicle maker's margins are being stretched. The S&P 500 climbed for the third day in a row, but the tech-heavy Nasdaq 100 finished modestly lower.
- China will stay in the spotlight as investors continue to anticipate Beijing to deliver additional stimulus to stimulate the economy. On Thursday, the country kept its loan prime rates steady, but the central bank fixed its daily yuan fixing with the greatest bias since November. The offshore yuan gained up to 0.7% against the dollar.
