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.
Providing critical information for the U.S. trading day. Subscribe to MarketWatch’s free Need to Know newsletter. Sign up here.