TOKYO (AP) — Asian shares were mixed Wednesday in listless trading after the fall on Wall Street that reversed the recent gains over the Republican-backed U.S. tax bill.
KEEPING SCORE: Japan’s benchmark Nikkei 225 rose 0.1 percent to finish at 22,891.72. Australia’s S&P/ASX 200 gained nearly 0.1 percent to 6,075.60. South Korea’s Kospi lost 0.3 percent to 2,472.37. Hong Kong’s Hang Seng slipped 0.1 percent 29,222.90, while the Shanghai Composite fell 0.3 percent to 3,287.61.
US TAXES: The recent upbeat sentiments over the U.S. tax bill appeared to be waning. Investors like the proposed tax cut because it would boost corporate profits and likely raise stock prices along with it. The bill, set for a final vote in the House later in the day, would initially cut taxes for most Americans, but by 2027 would increase tax bills for most.
WALL STREET: The Standard & Poor’s 500 index lost 8.69 points, or 0.3 percent, to 2,681.47. The Dow Jones industrial average shed 37.45 points, or 0.2 percent, to 24,754.75. The Nasdaq composite gave up 30.91 points, or 0.4 percent, to 6,963.85. The Russell 2000 index of smaller-company stocks fell 12.17 points, or 0.8 percent, to 1,536.75. It climbed almost 3 percent over the previous two days.
THE QUOTE: “In the run up to the year-end, equity markets can be seen cruising broadly in a cautious manner, where the confirmation of the U.S. tax bill passage is still needed for prices to further its run,” says Jingyi Pan, market strategist at IG in Singapore.
ENERGY: Benchmark U.S. crude rose 15 cents to $57.71 a barrel in New York. Brent crude, used to price international oils, added 11 cents to $63.91 a barrel in London.
CURRENCIES: The dollar rose to 113.03 yen from 112.58 yen late Tuesday in Asia. The euro rose slightly to $1.1837 from $1.1811.
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