Stock market today: Asian shares are mostly lower after Wall St holds firm
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Asian stocks were mostly lower on Thursday after U.S. stock indexes finished mixed a day after strong reports on the economy stirred up worries that inflation and interest rates may remain higher than expected. U.S. futures and oil prices declined. U.S. markets will be closed Thursday to observe a National Day of Mourning for former President Jimmy Carter.
Shares fell in Tokyo after Japan reported strong wage growth for November, data that might help persuade its central bank to raise interest rates. The Nikkei 225 index dropped 1.4% to 39,417.04, while the dollar slipped against the Japanese yen. A dollar bought 157.78 yen, down from 158.36 late Wednesday.
Chinese shares were mixed. Hong Kong's Hang Seng index edged 0.1% higher, to 19,296.89, while the Shanghai Composite index lost 0.3% to 3,220.72. In Australia, the S&P/ASX 200 gave up 0.4% to 8,312.20. South Korea's Kospi edged less than 0.1% higher, to 2,521.67 despite strong gains for technology companies and automakers.
Taiwan's Taiex sank 1% and the Sensex in India was down 0.3%. In Bangkok, the SET slipped 1.3%. On Wednesday, Wall Street was steady a day after strong reports on the economy stirred up worries that inflation and interest rates may remain higher than expected.
The S&P 500 rose 0.2% to 5,918.25 to recover a bit of its 1.1% slump from the day before. The Dow Jones Industrial Average added 0.3% to 42,635.20, and the Nasdaq composite edged 0.1% lower to 19,478.88. The Russell 2000 index of smaller stocks fell 0.5%.
Edison International tumbled 10.2% as massive wildfires burned in the Los Angeles area. The company’s Southern California Edison utility said Wednesday it shut off power to nearly 120,000 customers in six counties over safety concerns due to high winds and the risk of wildfires.
