Stock Market Today: Asian Shares Trading Mixed After Wall Street’s Momentum Cools
Stock market today: Asian shares trade mixed after Wall Street calms down, with a variety of trading activities observed.
In subdued trading on Tuesday, Asian shares exhibited mixed performance as initial buying in certain markets was offset by profit-taking activities. Japan's Nikkei 225, initially buoyed by investor interest in computer chip-related issues, ended nearly unchanged, edging down marginally to close at 40,398.03. Australia's S&P/ASX 200 declined by 0.4% to 7,780.20, while South Korea's Kospi saw a modest gain of 0.7% to reach 2,756.52. Hong Kong's Hang Seng surged by 1.4% to 16,703.76, and the Shanghai Composite added 0.2% to 3,031.90.
Market analysts monitored various global uncertainties, including geopolitical tensions in the Middle East and Russia, impacting energy prices and investor sentiment.
In energy markets, benchmark U.S. crude dipped slightly to $81.91 a barrel, while Brent crude, the international standard, also experienced a marginal decline to $86.69 a barrel.
Recent events, such as an attack at a concert hall in Moscow claimed by the Islamic State group and the UN Security Council's call for a Gaza cease-fire, influenced market sentiment. Wall Street retreated from recent record highs, with the S&P 500, Dow Jones Industrial Average, and Nasdaq composite all registering declines amidst quiet trading. Last week's rally, driven by the Federal Reserve's dovish stance on interest rates, propelled all three indexes to new records.
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