Asian markets mixed as Wall Street retreats from record highs


Asian shares were mixed Thursday after U.S. stocks closed lower, giving back some of its gains a day after the S&P 500 and Nasdaq hit record highs.

Japan’s benchmark Nikkei 225

NIK, +0.36%

  edged up 0.3% in early trading. South Korea’s Kospi

SEU, -0.12%

  fell about 0.2%. Hong Kong’s Hang Seng

HSI, +0.00%

  inched up 0.1%, while the Shanghai Composite

SHCOMP, -0.39%

  fell 0.3%. Indexes in Taiwan

Y9999, -0.01%

 , Singapore

STI, -0.19%

  and Indonesia

JAKIDX, -0.23%

  were a mixed bag. Australia’s trading was closed for Anzac Day, a national holiday.

Among individual stocks, Nintendo

7974, +1.95%

  rose in Tokyo trading, as did Sony

6758, +1.47%

 . Meanwhile, food manufacturer Kikkoman

2801, -2.72%

  fell, along with Nomura Holdings

8604, -1.22%

 . In Hong Kong, real-estate companies continued to rise, with Sun Hung Kai Properties

0016, +2.63%

  and Country Garden

2007, +1.43%

  advancing, while Geely Automobile

0175, -2.01%

  and oil producer CNOOC

0883, -0.95%

  fell. Chip maker SK Hynix

000660, +3.31%

  gained in South Korea as it posted a 69% drop in first-quarter profit, but forecast chip demand to improve later this year.

Investors are also watching for the U.S. economic growth data being released later in the week.

On Wall Street, energy stocks led the modest slide as crude oil prices fell after a three-day rally. Communications companies also helped pull the market lower, offsetting gains in real estate and other sectors. Bond prices rose as traders took a more defensive approach.

Stocks wavered between small gains and losses through much of the day as investors continued to wade through a steady flow of corporate earnings.

The S&P 500 index

SPX, -0.22%

  fell 6.43 points, or 0.2%, to 2,927.25. The benchmark index closed at a record high on Tuesday. The Dow Jones Industrial Average

DJIA, -0.22%

  dropped 59.34 points, or 0.2%, to 26,597.05. The Nasdaq composite

COMP, -0.23%

  lost 18.81 points, or 0.2%, to 8,102.01. The index was also coming off a record high close.

Benchmark U.S. crude

CLM9, -0.12%

  lost 30 cents to $65.59 a barrel. It fell 0.6% to settle at $65.89 per barrel. Oil had been climbing recently since dropping below $43 in late December. Brent crude

LCOM9, +0.07%

  fell 26 cents to $74.31 per barrel.

The dollar

USDJPY, -0.17%

  rose to 112.14 Japanese yen from 111.85 yen.

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Source : MTV