Asian Shares Mixed as Alphabet Earnings Disappoint; Fed Holds Rates Steady

Asian shares and U.S. futures traded mixed Thursday, pressured by technology stocks after Alphabet Inc. reported lower-than-expected quarterly revenue, sending its shares down about 10% in after-hours trading. The Federal Reserve held rates steady at the close of its policy meeting Wednesday, with two officials favoring a hike. Analysts said a December rate increase is likely as inflation remains elevated. Markets are also awaiting the European Central Bank's meeting later Thursday and the Bank of Japan's policy decision Friday. In Asian trading, South Korea's Kospi fell 2.2% to 5,880.25, led by Samsung Electronics' 5.4% drop despite strong quarterly results, as its shareholder return policy disappointed investors. Japan's Nikkei 225 edged up 0.2% to 64,073.17, while Taiwan's Taiex declined 1.9%. Hong Kong's Hang Seng rose less than 0.1%, and the Shanghai Composite shed 0.9%. Brent crude fell 1.2% to $110.32 per barrel, and benchmark U.S. crude dropped 1.3% to $101.46.