Asian markets were mostly lower on Wednesday, even after the S&P 500 and Nasdaq closed at all-time highs.
Japan’s Nikkei NIK, -0.37% slipped 0.4|%. Hong Kong’s Hang Seng Index HSI, -0.38% and the Shanghai Composite SHCOMP, +0.12% also gave up initial gains, dropping 0.6% and 0.2%. South Korea’s Kospi SEU, -1.10% fell 1%, while benchmark indexes in Taiwan Y9999, +0.02% and Singapore STI, +0.17% flat to lower. Bucking the weaker trend, Australia’s S&P/ASX 200 XJO, +0.91% closed up almost 1%, touching a nearly 10-year high in intraday trading.
Among individual stocks, Rakuten 4755, +3.07% and Fast Retailing 9983, +1.48% gained in Tokyo trading, while Nissan 7201, -3.70% retreated. In Hong Kong, real estate companies such as China Resources Land 1109, +2.98% and Country Garden 2007, +1.27% rose, while oil producer CNOOC 0883, -1.60% and telecom China Mobile 0941, -1.13% declined. Samsung 005930, -1.88% fell in South Korea. National Australia Bank NAB, +1.14% and Westpac Banking WBC, +1.40% 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, -0.41% and June Brent crude LCOM9, -0.38% , the global benchmark slipped in Wednesday futures trading.
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