Asian shares ease; Microsoft’s rally boosts tech
Asian share markets recorded a weak performance on Wednesday. Investors’ subdued sentiment could be attributed to the Federal Reserve’s plans regarding its monetary policy. Meanwhile, futures for U.S. tech shares advanced on Microsoft’s hefty gains.
MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 0.2% gain, with investors withdrawing from resource shares on stretched valuations. Japan’s benchmark index Nikkei, on the other hand, traded 0.3% higher.
Microsoft’s upbeat session greatly supported the technology sector, with futures for Nasdaq advancing 0.5%. Shares of the software company jumped 3.7% as its Azure cloud computing services expanded 50%. The increase made other U.S. tech giants enthusiastic, with Apple and Facebook set to announce their quarterly results within the day.