GLOBAL MARKETS-Asian shares pull back after US techs knocked off highs


* Ex-Japan Asia down 0.4 pct, Nikkei falls 0.3 pct
    * U.S. tech shares slide, Amazon earnings disappoint
    * Upbeat earnings, solid macro outlook underpin stocks

    By Hideyuki SanoTOKYO, July 28 (Reuters) - Asian stock markets sagged on
Friday after U.S. tech shares retreated from recent rallies,
though optimism on U.S. corporate earnings and the global
economy underpinned overall sentiment.
    MSCI's broadest index of Asia-Pacific shares outside Japan
<.MIAPJ0000PUS> fell 0.4 percent in early trade, with Samsung
Electric <005930.KS>, Asia's largest company by market
capitalisation, dropping 2.0 percent.
    Japan's Nikkei <.N225> shed 0.3 percent.
   On Wall Street, the Dow industrials set a record closing
high, helped by a 7.7 percent jump in Verizon <VZ.N>, following
the top U.S. wireless carrier's quarterly earnings.
    But investors were spooked by a sudden drop in technology
and transportation shares. The S&P 500 technology sector
<.SPLRCT> fell 2.0 percent at one point before ending the day
down 0.8 percent.
    The slide came even as Facebook <FB.O> shares gained 2.9
percent on the social media company's results, though
<AMZN.O> shares fell 3.2 percent after the bell following the
e-commerce company's results.
    Yet investors' sentiment remained solid on the back of
upbeat corporate earning results and a bright global economic
    "Given the Dow is hitting a record high, it's hard to think
market sentiment has suddenly changed," said Masahiro Ichikawa,
senior strategist at Sumitomo Mitsui Asset Management.
    The S&P 500 index <.SPX> is on track to post back-to-back,
double-digit quarterly earnings growth for the first time in
almost six years. [nL1N1KH208]
    U.S. durable goods orders, published on Thursday, surged 6.5
percent last month, the biggest gain in three years <USDGN=ECI>
    The bullish report came on the eve of the government's
advance second-quarter gross domestic product estimate on
    Economists expect the data to show growth picking up to 2.6
percent from 1.4 percent in January-March.
    A series of Japanese economic data released on Friday came
in stronger than expected, with household spending rising more
than expected and the jobless rate falling unexpectedly.
    MSCI ACWI <.MIWD00000PUS>, a gauge of the world's 47 stock
markets in dollar terms, hit record highs, having gained 2.8
percent so far this month,
    If the gains are sustained by month-end it would mark the
biggest monthly jump in a year and the ninth consecutive month
of increases -  the longest such spell since 2003-04.
    In the currency market, the dollar regained some footing
after slumping to a 13-month low against a basket of major
currencies the previous day following the Federal Reserve's
policy statement.
    The euro <EUR=> consolidated at $1.1684, after hitting a 2
1/2-year high of $1.1777 on Thursday.
    The dollar steadied around 111.21 yen <JPY=>, a tad above
Monday's low of 110.625, its lowest in more than five weeks.
    Oil prices held near eight-week high hit on Thursday,
supported after key OPEC members pledged to reduce exports and
the U.S. government reported a sharp decline in crude
    Brent crude futures <LCOc1> fetched $51.51 per barrel, after
having climbed to $51.64 on Thursday.

MSCI, Nikkei datastream chart
 (Editing by Shri Navaratnam)
 ((; +81 3 6441 1827; Reuters

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