Asian Shares Slip On Lack Of Economic Data
Benzinga | Sep 24, 2013 10:32AM ET
Asian markets slipped on Tuesday after a lack of economic data shifted investors’ focus back to monetary policy.
New York Fed President William Dudley commented that the Fed’s taper timeline was still in place, however he claimed that the bank would like to see further improvement in the country’s labor market before moving forward with the taper. Uncertainty about the bank’s timeline caused Wall Street to stumble and contributed to softening Asian shares.
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In other news around the markets:
- Despite harsh criticism about pricing, Apple sold nine million phones last weekend at the debut of the iPhone 5S and 5C. The sales were well above analyst predictions and the company announced that its quarterly sales and profit margin would likely exceed projections. The sales helped Apple shares jump five percent to $23.23.
- The Chinese government is planning to allow access to websites like Facebook (KMX ) is expected to report EPS of $0.56 on revenue of $3.12 billion, compared to last year’s EPS of $0.48 on revenue of $2.76 billion.
Tuesday’s economic calendar will include US consumer confidence, Canadian retail sales, British mortgage approvals, Italian trade balance and the German business climate index.
by Laura Brodbeck
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