Shanghai and Hong Kong retreated while Tokyo and Seoul advanced.
The Associated Press (AP) reported that oil prices fell.
Wall Street closed lower on Wednesday after the US government reported that inflation remains above the Fed’s target, and notes from the central bank’s latest meeting said economists expect lower lending to lead to a “moderate recession.”
Traders have already seen an increased possibility of at least a short recession in the US this year after interest rates were raised to quell inflation.
IG’s Yeap Jun Rong said in a report, it seems that recession fears brewing have shaken risk sentiment.
The Shanghai Composite lost 0.1% to 3324.30 while Tokyo’s Nikkei 225 rose 0.1% to 28108.67.
Hong Kong’s Hang Seng fell 0.9%, to 20,125.48.
The Kospi Index in Seoul rose 0.1% to 2554.19 while the S&P ASX in Sydney fell 0.2% to 7325.70.
New Zealand and Southeast Asian markets fell.
Wednesday’s update showed US consumer prices rose 5% in March from a year earlier, down from last June’s peak but still well above the Fed’s 2% target.
On Wall Street, the Standard & Poor’s 500 Index fell 16.99, or 0.4%, to 4,091.95. About 65% of stocks within the index fell.
The Dow Jones Industrial Average fell 38.29, or 0.1%, to 33,646.50.
The Nasdaq Composite lost 102.54, or 0.9%, to 11,929.34.
The bond market is nervous about a possible recession.
The 10-year Treasury yield fell to 3.41% from 3.43% late Tuesday.
The two-year Treasury yield, which moves further based on the Fed’s expectations, fell to 3.96% from 4.03%.
Investors are looking forward to the latest quarterly earnings reports that US companies are due to start issuing this week.
In energy markets, US benchmark crude lost 15 cents to $83.11 a barrel in electronic trading on the New York Mercantile Exchange.
The contract rose $1.73 on Wednesday to $83.26.
Brent crude, the price basis for international oil trade, fell 21 cents to $87.12 a barrel in London.
It advanced $1.72 in the previous session to $87.33.
The dollar rose to 133.27 yen from 133.19 yen on Wednesday.
The dollar fell to $1.0989 from $1.0995.
NAA