Stock market today: Asian shares are mixed after Wall Street retreats from all-time highs
BANGKOK (AP) — Asian shares were mixed on Wednesday after Wall Street slipped a bit further from its record highs.
Oil prices fell while U.S. futures edged higher.
Chinese shares slipped even as China's central bank governor told a high-level business conference in Beijing that the ailing property industry was showing signs of recovery and that the impact from defaults of dozens of developers was limited.
Hong Kong's Hang Seng index lost 1.4% to 16,392.84 and the Shanghai Composite index was down 1.3% at 2,993.14.
Tokyo's Nikkei 225 gained 0.9% to 40,762.73 and the S&P/ASX 200 added 0.5% to 7,819.60.
In Bangkok, the SET rose 0.3%. India's Sensex was up 0.8% and the Taiex in Taiwan closed 0.4% higher.
“Traders are keenly awaiting further guidance from Federal Reserve officials and key economic indicators from China, along with ongoing discussions around fiscal policies,” Anderson Alves of ActivTrades said in a commentary.
On Tuesday, the S&P 500 fell 0.3% to 5,203.58, for its third straight modest drop since setting an all-time high.
The Dow Jones Industrial Average dipped 0.1% to 39,282.33, and the Nasdaq composite fell 0.4% to 16,315.70.
Stock indexes were modestly higher for much of the day thanks to several Big Tech stocks. Tesla rose 2.9%, and Alphabet ticked up by 0.4%. But a late-day slide by Nvidia ended up helping to pull the market lower. It fell 2.5%.
Krispy Kreme soared 39.4%, after it announced a deal where McDonald’s restaurants will sell its doughnuts across the country. Another food company, McCormick, climbed 10.5% after reporting stronger profit for the latest quarter than analysts expected. The seller of spices, hot sauces and seasonings also said its sales are likely to be at the higher end of its projections.
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