Asian shares mixed after Wall St edges back
Most Asian markets were down except for Nikkei 225, Shanghai Composite and Sensex, which made gains. All of the major US markets were trading in negative territory
Bangkok: Asian shares were mixed on Tuesday after US stocks edged back from their record heights. US futures edged lower while oil prices advanced. Traders are growing cautious after the New Year’s rally that has swept much of the world’s markets. “All in all, investors are taking a well-deserved breather to start the week,” Stephen Innes of SPI Asset Management said in a commentary.
“This subdued tone suggests a moderation in investor sentiment following the recent tech-driven buying spree.” Tokyo’s Nikkei 225, which has twice breached records in recent days, was flat at 39,239.52 in quiet trading.
That was after the government reported that consumer prices rose 2.2 per cent in January from the year before, less than the 2.6 per cent rate in December, but above forecasts. Higher inflation supports expectations that the Bank of Japan may soon make a shift in its longstanding ultra-lax monetary policy, which is underpinned by a minus 0.1 per cent benchmark interest rate.
