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Asia Markets: Asian markets give up early gains following Wall Street records

Asian markets were mixed in early trading Wednesday, surrendering early gains, after the S&P 500 and Nasdaq closed at all-time highs. Read More...

Asian markets were mixed in early trading Wednesday, surrendering early gains, after the S&P 500 and Nasdaq closed at all-time highs.

Japan’s Nikkei NIK, -0.58%   was about flat after initially rising about 0.4%. Hong Kong’s Hang Seng Index HSI, -0.85%   and the Shanghai Composite SHCOMP, -0.92%   also gave up initial gains and were last in the red. South Korea’s Kospi SEU, -1.28%   was down about 1%, while benchmark indexes in Taiwan Y9999, -0.09%   and Singapore STI, +0.21%   were up slightly. Australia’s S&P/ASX 200 XJO, +0.90%   was up almost 1%, touching a nearly 10-year high in intraday trading.

Among individual stocks, Rakuten 4755, +2.47%   and Fast Retailing 9983, +1.15%   gained in Tokyo trading, while Nissan 7201, -3.28%   retreated. In Hong Kong, real estate companies such as China Resources Land 1109, +1.04%   and Country Garden 2007, +0.32%   rose, while oil producer CNOOC 0883, -2.01%   and telecom China Mobile 0941, -1.19%   declined. Samsung 005930, -2.21%   fell in South Korea. National Australia Bank NAB, +1.08%   and Westpac Banking WBC, +1.36%   advanced in Australia.

On Wall Street on Tuesday, The S&P 500 SPX, +0.88%   and Nasdaq COMP, +1.32%   closed at record highs Tuesday as investors cheered the latest batch of solid corporate earnings. The Dow Jones Industrial Average DJIA, +0.55%   closed less than 1% from a record high.

Oil prices closed Tuesday at their highest level since October, but West Texas Intermediate crude for June delivery CLM9, -0.54%   and June Brent crude LCOM9, -0.51%  , the global benchmark slipped in Wednesday futures trading.

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