Key facts
- Asian stocks struggled for gains on Thursday.
- MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%.
- US stock futures were down 0.4%.
- SpaceX posted its first profit as a public company.
- Meta reported third-quarter revenue that beat expectations.
- Brent crude rose 1.1% to $110.03 a barrel.
Asian stocks struggled in early trade on Thursday, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.2% and on track for a fourth straight week of decline. Japan's Nikkei and Korean shares also traded lower. US stock futures were down 0.4%. Optimism from better-than-expected earnings from tech giants like Meta and Super Micro, and SpaceX posting its first profit, provided some support. However, Meta's plan to issue non-voting stock drew scrutiny over AI spending. Lingering concerns over AI, geopolitical tensions in the Gulf, upcoming US mid-term elections, and a Federal Reserve decision weighed on investor sentiment. Brent crude rose 1.1% to $110.03 a barrel, near a five-month high, amid US orders for diplomats to leave Saudi Arabia due to Houthi strikes. The dollar index dipped, while the yen was flat after the Deputy Bank of Japan Governor signalled readiness to raise rates. Bitcoin and Ether were also lower.