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Shares remained mostly higher on Wednesday Asia Japan’s benchmark Nikkei 225 index rose more than 2% to another record.
US futures were mixed and oil prices were little changed.
us President donald trump Visiting Asia and has encouraging comments on relations with major economies Japan And China has helped fuel rallies while US stocks hit record highs.
In Tokyo, the Nikkei 225 was up 2.4% at 51,410.40.
After a charm offensive in Japan that culminated in $490 billion in investment commitments, President Donald Trump met with the leader of South Korea on Wednesday, though a trade deal with that country appeared more elusive.
Still, South Korea’s Kospi rose 1.2% to 4,058.37.
The Shanghai Composite Index was up 0.5% at 4,006.21. It is trading near its highest level in a decade ahead of Trump’s expected meeting with the Chinese leader Xi Jinping On the sidelines of a regional summit in South Korea.
Trump and Xi are locked in an escalating trade war, with Washington imposing higher tariffs and tightening technology controls and China retaliating by curbing rare earth shipments, one of the key sources of leverage.
Experts say the fact that a meeting has been planned shows there is room for some progress in reducing tensions.
Australia’s S&P/ASX 200 fell 1% to 8,926.20 after the release of better-than-expected inflation data, with an annual rate of 3.2%, dashing hopes of an interest rate cut soon.
Taiwan’s Taiex rose 1.2% and India’s Sensex rose 0.3%.
The US stock market reached a record high on Tuesday.
The S&P 500 rose 0.2% to 6,890.89. The Dow Jones Industrial Average rose 0.3% to 47,706.37 and the Nasdaq Composite climbed 0.8% to 23,827.49. All three indices reached all-time highs for the third consecutive day.
Wall Street is waiting for some events that could shake things up. On Wednesday, the Federal Reserve will announce its latest move on interest rates, while some of the stock market’s most influential companies will report how much profit they made over the summer.
Investors expect the Fed to announce a rate cut in view of the slowdown in the job market. It would be the second time this year he has lowered the federal funds rate in hopes of helping the job market.
United Parcel Service rose 8% on Tuesday after delivering stronger profit and revenue than analysts expected in the latest quarter.
paypal It climbed 3.9% after it said it made more profit than analysts expected during the summer. It also said it planned to pay dividends to its shareholders every three months, while announcing a deal where internet users would be able to pay for purchases through OpenAI’s ChatGPT.
Skyworks Solutions climbed 5.8% after saying it would merge with Qorvo in a cash-and-stock deal, where Skyworks shareholders would own about 63% of the combined company, valued at $22 billion. Quervo stock rose about 5.7%.
Microsoft was one of the strongest forces lifting the market after gaining 2%. This brought the company’s total value on Wall Street to more than $4 trillion.
Among Wall Street’s losers was Royal Caribbean, which dropped 8.5% despite reporting a stronger profit than analysts expected. Its revenue in the latest quarter fell short of expectations.
Homebuilder DR Horton fell 3.2% after reporting weaker-than-expected summer profits.
Meanwhile, Amazon rose 1% after saying it would cut about 14,000 corporate jobs, or about 4% of its corporate workforce, as it increases spending on artificial intelligence while cutting costs elsewhere.
In other deals early Wednesday, U.S. benchmark crude oil rose 2 cents to $60.17 a barrel. Brent crude, the international standard, also rose 2 cents to $63.85 a barrel.
The US dollar rose to 152.36 JPY from 152.11 yen. The euro fell to $1.1631 from $1.1651.
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AP Business writers Stan Choe and Matt Ott contributed.