Asian shares were mixed on Wednesday as Wall Street slipped further from its record highs. Oil prices fell while U.S. futures edged higher, adding to the uncertainty in the markets.
Chinese shares slipped despite China’s central bank governor’s positive remarks about the ailing property industry showing signs of recovery. Hong Kong’s Hang Seng index lost 0.8% while the Shanghai Composite index was down 0.5%.
On the other hand, Tokyo’s Nikkei 225 gained 1.1% and the S&P/ASX 200 added 0.2%. In Bangkok, the SET was little changed, while India’s Sensex and Taiwan’s Taiex both advanced 0.3%.
Traders are eagerly awaiting further guidance from Federal Reserve officials and key economic indicators from China. The stock market in the U.S. faced criticism for being too expensive, with concerns about inflation and the need for strong profit growth.
Despite the challenges, the S&P 500 has already risen 9% this year and is on track for its fifth straight winning month. The Federal Reserve is expected to start lowering interest rates this year to control inflation.
In other news, U.S. benchmark crude oil shed 62 cents to $81.00 per barrel, and the U.S. dollar rose to 151.73 Japanese yen. The euro slipped to $1.0826.
Overall, the global markets are facing uncertainty and volatility, with traders closely monitoring developments in the U.S. and China to make informed investment decisions.
