Asian Shares Down On Lackluster Trading

Asian shares mostly fell in muted trading Tuesday, Jan. 31, 2023, as investors awaited decisions on interest rates and earnings reports worldwide.

Photo Insert: Binance chief Changpeng "CZ" Zhao's selfie during a visit to The Philippine Stock Exchange

Traders were awaiting the US Federal Reserve’s decision on interest rates on Wednesday. They are also watching for indicators on the Chinese economy, Yuri Kageyama reported for the Associated Press (AP).

Japan’s benchmark Nikkei 225 inched down 0.1% to 27,391.88. Australia’s S&P/ASX 200 edged up nearly 0.1% to 7,487.10. South Korea’s Kospi declined 0.4% to 2,440.25. Hong Kong’s Hang Seng lost 0.3% to 22,011.37, while the Shanghai Composite shed 0.2% to 3,262.62.

Shares fell Monday on Wall Street. The S&P 500 dropped 1.3% to 4,017.77, giving back some of the gains that had carried it last week to its highest level since early December.

The Dow Jones Industrial Average fell 0.8% to 33,717.09, while the Nasdaq composite sank 2% to 1,393.81.

In energy trading, benchmark US crude dropped 30 cents to $77.60 a barrel in electronic trading on the New York Mercantile Exchange. It gave up $1.78 on Monday to $77.90 per barrel. Brent crude, the international standard, shed 25 cents to $84.25 a barrel.

In currency trading, the U.S. dollar inched down to 130.25 Japanese yen from 130.43 yen. The euro cost $1.0846 from $1.0852, Stan Choe also reported for AP.

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