Asian markets were mixed in early trading Wednesday, surrendering early gains, after the S&P 500 and Nasdaq closed at all-time highs.
Japan’s Nikkei NIK, -0.02% was about flat after initially rising about 0.4%. Hong Kong’s Hang Seng Index HSI, -0.68% and the Shanghai Composite SHCOMP, -0.81% also gave up initial gains and were last in the red. South Korea’s Kospi SEU, -1.01% was down about 1%, while benchmark indexes in Taiwan Y9999, +0.02% and Singapore STI, +0.12% were up slightly. Australia’s S&P/ASX 200 XJO, +0.95% was up almost 1%, touching a nearly 10-year high in intraday trading.
Among individual stocks, Rakuten 4755, +2.05% and Fast Retailing 9983, +1.52% gained in Tokyo trading, while Nissan 7201, -2.93% retreated. In Hong Kong, real estate companies such as China Resources Land 1109, +1.64% and Country Garden 2007, +0.00% rose, while oil producer CNOOC 0883, -1.60% and telecom China Mobile 0941, -1.19% declined. Samsung 005930, -1.99% fell in South Korea. National Australia Bank NAB, +1.22% and Westpac Banking WBC, +1.44% advanced in Australia.
On Wall Street on Tuesday, The S&P 500 SPX, +0.88% and Nasdaq COMP, +1.32% closed at record highs Tuesday as investors cheered the latest batch of solid corporate earnings. The Dow Jones Industrial Average DJIA, +0.55% closed less than 1% from a record high.
Oil prices closed Tuesday at their highest level since October, but West Texas Intermediate crude for June delivery CLM9, -0.57% and June Brent crude LCOM9, -0.55% , the global benchmark slipped in Wednesday futures trading.
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