Asia Markets: Asian markets mostly lower, failing to take cues from Wall Street’s record day

Asian markets were mostly lower on Wednesday, even after the S&P 500 and Nasdaq closed at all-time highs.

Japan’s Nikkei NIK, -0.27%  slipped 0.4|%. Hong Kong’s Hang Seng Index HSI, -0.53%   and the Shanghai Composite SHCOMP, +0.09%   also gave up initial gains, dropping 0.6% and 0.2%. South Korea’s Kospi SEU, -0.88%  fell 1%, while benchmark indexes in Taiwan Y9999, +0.02%   and Singapore STI, +0.00%   flat to lower. Bucking the weaker trend, Australia’s S&P/ASX 200 XJO, +0.99%   closed up almost 1%, touching a nearly 10-year high in intraday trading.

Among individual stocks, Rakuten 4755, +2.98%   and Fast Retailing 9983, +1.71%   gained in Tokyo trading, while Nissan 7201, -4.00%   retreated. In Hong Kong, real estate companies such as China Resources Land 1109, +2.38%   and Country Garden 2007, +0.32%   rose, while oil producer CNOOC 0883, -1.60%   and telecom China Mobile 0941, -1.06%   declined. Samsung 005930, -1.00%   fell in South Korea. National Australia Bank NAB, +1.18%   and Westpac Banking WBC, +1.55%   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, -0.38%  , the global benchmark slipped in Wednesday futures trading.

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