Asian shares were mixed Wednesday after Wall Street indexes finished little changed as investors awaited earnings results from major global companies.
Japan’s benchmark Nikkei 225 JP:NIK gained 0.4% in morning trading. Australia’s S&P/ASX 200 AU:XJO shed 0.1%, while South Korea’s Kospi KR:180721 jumped 1.3%. Stocks rose in Singapore SG:STI but fell in Indonesia ID:JAKIDX. Markets were closed in Hong Kong, Shanghai and Taiwan for Lunar New Year holidays.Japan’s benchmark Nikkei 225 NIK gained 0.4% in morning trading. Australia’s S&P/ASX 200 XJO shed 0.1%, while South Korea’s Kospi 180721 jumped 1.3%.
Stocks have been volatile as investors try to get a better sense of how inflation is affecting the economy, the potential for a recession and whether the Federal Reserve can ease up on its aggressive interest rate increases. “Where the market and the Fed are having a fairly violent disagreement right now is how long are they going to leave rates at around 5%?” said Scott Ladner, chief investment officer at Horizon Investments.
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