Asian Shares Mostly Higher After Wall Street Sets More Records

Asian markets were mixed in cautious trading on Wednesday, with most of the region’s benchmarks climbing after US stocks hit new record highs.

Hong Kong’s Hang Seng index gained 0.4% to 19,288.93, led by EV makers including Xpeng, whose shares jumped 13.5% Wednesday on better-than-expected earnings in the first quarter. I Photo: XPENG Facebook

US futures rose while oil prices slipped, Zimo Zhong and Stan Choe reported for the Associated Press (AP).

Tokyo’s Nikkei 225 fell 0.6% to 38,719.35 after Japan reported that its trade deficit rose last month. The data were weaker than analysts had forecast.

Hong Kong’s Hang Seng index gained 0.4% to 19,288.93, led by EV makers including Xpeng, whose shares jumped 13.5% Wednesday on better-than-expected earnings in the first quarter.

The Shanghai Composite index logged slimmer gains, rising less than 0.1% to 3,158.64. In South Korea, the Kospi edged 0.1% higher to 2,726.35. Australia’s S&P/ASX 200 was up less than 0.1% to 7,855.00.

Taiwan’s Taiex gained 1.2% as shares in market heavyweight Taiwan Semiconductor Manufacturing Corp. (TSMC) jumped 2.1%.

On Tuesday, the S&P 500 rose 0.3% to 5,321.41 and surpassed its record set last week. The Nasdaq composite gained 0.2% to 16,832.62, a day after setting its latest all-time high.

The Dow Jones Industrial Average climbed 0.2% to 39,872.99 and is sitting just below its high set last week.