Asian stocks fell after an unexpected drop in U.S. home sales signaled a housing recovery in the world’s largest economy is running out of steam, while investors weighed better-than-estimated earnings from Apple Inc. and Facebook Inc.
U.S. index futures climbed while a gauge of Asian shares slid as investors assessed the outlook for corporate earnings after profit at Apple Inc. and Facebook Inc. beat estimates. New Zealand’s dollar gained after the central bank raised interest rates and nickel advanced.
The world’s three largest platinum producers are meeting with union officials to try to end South Africa’s longest mining strike after talks yesterday following an increased pay offer failed to break the three-month deadlock.
Singapore’s office rents are set to rise as much as 15 percent this year on increased demand and a dearth of new developments, said Lynette Leong, chief executive officer of CapitaCommercial Trust Management Ltd.
Bank of America Corp.’s Lisa Carnoy, one of Wall Street’s highest-ranking women, is moving from head of the global capital-markets division to an executive role in the U.S. Trust wealth-management unit.
Morgan Stanley reported profit that beat analysts’ estimates as a surprise jump in fixed-income results helped the firm post the only increase in trading revenue among the six biggest U.S. banks this year. The stock rose 3 percent in early New York trading.
Emerging-market stocks rebounded from a one-month low after data showing a slowdown in Chinese growth bolstered bets on more economic stimulus. Brazil’s Ibovespa led gains among major equity gauges in the Americas.