Asian stocks were mostly down on Wednesday after major indices ended mixed on Wall Street.
Benchmarks fell in Tokyo, Shanghai and Taiwan, but rose in Sydney. The markets in South Korea and Hong Kong were closed for holidays.
The Bank of Japan kept its ultra-support monetary policy unchanged, as expected.
Investors are waiting to see the Federal Reserve’s latest assessment of the economy and are keeping an eye on struggling Chinese developer Evergrande, which is struggling to repay debt.
A late-afternoon buying explosion on Wall Street faded into the closing minutes of trading on Tuesday, leaving major stock indexes mixed. The S&P 500 ended down just under 0.1% and the Dow Jones Industrial Average was down 0.1%.
The Tokyo Nikkei 225 Index lost 0.6% to 29,665.42, while the Shanghai Composite Index fell 0.8% to 3,585.24. The Australian S & P / ASX 200 gained 0.5% to 7,310.10. Shares fell 2.4% in Taiwan and also fell in Singapore. But benchmarks have increased in Indonesia and Malaysia.
The 10-year Treasury yield edged up to 1.33% from 1.32% on Tuesday night.
The Federal Reserve is expected to send out its clearest signal yet this week that it will begin to curb its ultra-low interest rate policies later this year, the first step towards unwinding the extraordinary support it has provided. to the economy since the pandemic hit 18 months ago.
Wednesday’s Fed policy meeting could lay the groundwork for a November pullback announcement.
Global investors are also anxiously watching Evergrande, one of China’s largest real estate developers, facing a possible default of tens of billions of dollars in debt, fueling fears of possible wider shockwaves to the financial system. .
Chinese regulators have yet to say what they might do with the Evergrande group. Economists expect them to step in if Evergrande and lenders fail to agree on how to handle its debts. But any formal resolution is expected to result in losses for banks and bondholders.
On Tuesday, nerves appeared to stabilize after a massive sell-off on Monday.
The S&P 500 lost 3.54 points to 4,354.19, while the Dow Jones Industrial Average lost 50.63 points to 33,919.84. The Nasdaq composite rose 0.2% to 14,746.49.
Small business stocks also managed gains. The Russell 2000 Index rose 0.2% to 2,186.18.
Healthcare stocks led the winners on Tuesday. Johnson & Johnson rose 0.4% after reporting that a booster of its unique coronavirus vaccine provides a stronger immune response months after people received a first dose.
Several companies made solid gains after giving investors encouraging financial updates. Rideshare company Uber jumped 11.5% after telling investors it could post adjusted earnings this quarter. Equipment rental provider Herc Holdings rose 6.7% after a strong long-term growth forecast.
Supply chain issues, which have plagued a wide range of industries, have weighed on several companies. Homebuilder Lennar fell 0.5% after third-quarter home deliveries fell below analysts’ expectations due to supply chain issues.
Universal Music jumped 35.7% when it debuted on the Amsterdam Stock Exchange.
In other exchanges, benchmark US crude oil gained 54 cents to $ 71.03 per barrel in electronic trading on the New York Mercantile Exchange. He won 35 cents to $ 70.49 on Tuesday.
Brent crude oil, the standard for international prices, added 42 cents to $ 74.78 a barrel.
The US dollar climbed to 109.42 Japanese yen from 109.23 yen on Tuesday night. The euro was unchanged at $ 1.1726.
AP Business Writers Damian J. Troise and Alex Veiga contributed.