Asian shares pause after recent climb, focus on earnings
Published on Jul 8, 2014 12:28 PM
SYDNEY (Reuters) - Asian stocks were subdued on Tuesday as Wall Street turned cautious ahead of the corporate reporting season and earnings guidance from regional tech heavyweight Samsung came in well short of forecasts.
Investors could also be forgiven for feeling a touch of altitude sickness after many indexes recently hit all-time or multi-year peaks.
MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction lower in thin trade. It briefly struck a three-year high at 502.00 but shied away from tough resistance at the 2011 top of 512.12.
Samsung Electronics said its operating profit probably fell 24.5 per cent in April-June to 7.2 trillion won, under the 8.3 trillion mean estimate from 38 analysts polled by Thomson Reuters.
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