Asian shares mixed after Wall Street ticks up

Tokyo, Nov. 8 (BNA): Asian shares were mixed in muted trading Wednesday as attention focused on next week’s meetings on the sidelines of a Pacific Rim summit.

 

Japan’s benchmark Nikkei 225 dropped 0.7% to 32,058.44. South Korea’s Kospi lost 0.4% to 2,433.37, the Associated Press (AP) reported.

 

Australia’s S&P/ASX 200 gained 0.1% to 6,982.90.

 

On Wall Street, the S&P 500 rose 0.3% to 4,378.38, as gains for some Big Tech stocks helped offset losses for most stocks in the index.

 

The Dow Jones Industrial Average rose 0.2% to 34,152.60, and the Nasdaq composite gained 0.9% to 13,639.86.

 

TripAdvisor jumped 11% after reporting better results for the summer than analysts expected, while Emerson Electric sank 7.4% after falling short of expectations.

 

The 10-year Treasury yield was at 4.59% early Wednesday, after falling to 4.56% Tuesday from 4.66% late Monday.

 

Shares of WeWork were not trading after the office-sharing company filed for Chapter 11 bankruptcy protection. After earlier being valued at $47 billion, its stock has plunged 98.5% this year.

 

In energy trading, crude prices recouped some of their recent tumble. A barrel of benchmark U.S. crude gave up 13 cents to $77.24 a barrel. It dropped $3.45 to settle at $77.37 on Tuesday, and was back to where it was in July.

 

Brent crude, the international standard, gained 6 cents to $81.67 a barrel.

 

In currency trading, the U.S. dollar edged up to 150.50 Japanese yen from 150.37 yen. The euro cost $1.0691, down from $1.0702.

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