Asian shares mixed ahead of US inflation, Lunar New Year

A man uses a smartphone in front of an electronic stock indicator of a securities firm in Tokyo, Wednesday, Feb. 14, 2018. Asian shares were mixed Wednesday amid a wait-and-see mood ahead of Lunar New Year holidays as well as the release of U.S. inflation indicators later in the day. (AP Photo/Shizuo Kambayashi)
A woman walks past an electronic stock indicator of a securities firm in Tokyo, Wednesday, Feb. 14, 2018. Asian shares were mixed Wednesday amid a wait-and-see mood ahead of Lunar New Year holidays as well as the release of U.S. inflation indicators later in the day. (AP Photo/Shizuo Kambayashi)
A man looks at an electronic stock indicator of a securities firm in Tokyo, Wednesday, Feb. 14, 2018. Asian shares were mixed Wednesday amid a wait-and-see mood ahead of Lunar New Year holidays as well as the release of U.S. inflation indicators later in the day. (AP Photo/Shizuo Kambayashi)

TOKYO — Asian shares were mixed Wednesday with investors adopting a wait-and-see stance ahead of Lunar New Year holidays and the release of U.S. inflation data.

KEEPING SCORE: Japan's benchmark Nikkei 225 slipped 0.6 percent to 21,109.29, while Australia's S&P/ASX 200 lost 0.3 percent to 5,841.00. South Korea's Kospi was up 0.8 percent at 2,413.11. Hong Kong's Hang Seng rose 0.7 percent to 30,052.59, but the Shanghai Composite index lost 0.3 percent to 3,174.94. Markets in Southeast Asia were mixed.

U.S. INFLATION: Market players are awaiting the U.S. Labor Department's monthly report on consumer prices, due later in the day. The report takes on added importance since recent swings in financial markets were touched off by worries that inflation might rise too quickly, prompting the Federal Reserve to accelerate monetary tightening.

THE QUOTE: "It certainly feels like the proverbial calm before the storm and rightly so as there are plenty of reasons to be cautious, but whether it warrants the present sense of foreboding in the markets or not, equity investors seem undeterred by the possibility of higher yields," Stephen Innes of OANDA said in a commentary.

JAPAN GDP: Japan's economy grew at a slower than expected 0.5 percent annual pace in the October-December quarter, the eighth straight quarter of expansion. Growth for the entire calendar year was 1.6 percent, up from 0.9 percent in 2016. The preliminary data released Wednesday buttressed economists' expectations that growth will slow in the coming year.

WALL STREET: The Standard & Poor's 500 index rose 0.3 percent to 2,662.94. The Dow added 0.2 percent to 24,640.45. The Nasdaq composite gained 0.5 percent to 7,013.51 and the Russell 2000 index of smaller-company stocks finished up 0.3 percent at 1,494.95. Volatility has increased, with the Dow Jones industrial average twice falling 1,000 points in a day last week, sometimes gaining or losing hundreds of points in a few minutes.

ENERGY: Benchmark U.S. crude lost 3 cents to $59.16 a barrel in electronic trading on the New York Mercantile Exchange. It fell 10 cents to $59.19 a barrel in New York Tuesday. Brent crude, used to price international oils, added 11 cents to $62.83 a barrel in London.

CURRENCIES: The dollar fell to 107.08 yen from 107.55 yen. The euro climbed to $1.2382 from $1.2351.

____

AP Markets Writer Marley Jay contributed to this report. He can be reached at http://twitter.com/MarleyJayAP

His work can be found at https://apnews.com/search/marley%20jayt

Follow Yuri Kageyama on Twitter at https://twitter.com/yurikageyama

Her work can be found at https://www.apnews.com/search/yuri%20kageyama

Must Read

'American Crime Story' writers focusing on...

Aug 10, 2016

An executive producer behind 'American Crime Story,' the anthology series for FX, says they're...

House Speaker Paul Ryan wins GOP nomination to...

Aug 10, 2016

House Speaker Paul Ryan has defeated a longshot Republican primary challenger who had been praised...

If Trump can't get along with GOP, how will he...

Aug 9, 2016

Beyond the political fallout from Donald Trump's rocky relationship with party elders lies a...

Florida officials go into damage-control mode...

Aug 6, 2016

Worried about Florida's all-important tourism industry, state officials are going into...

UN bungles response to Africa's yellow fever...

Aug 5, 2016

An AP investigation finds that 1 million doses of yellow fever vaccines vanished in Angola as the...

People also read these

A look at China's foreign policy challenges

Aug 10, 2016

China's simmering feud with South Korea over deployment of an American missile defense system is...

Turkish, Russian officials to discuss solution...

Aug 10, 2016

Turkey's foreign minister says Turkish foreign ministry, military and intelligence officials will...

RNC hires strategists to help woo...

Aug 9, 2016

The Republican National Committee has hired three new strategists to help increase its outreach to...

Rare 4th-century mosaic of chariot race found in...

Aug 10, 2016

A Cypriot archaeologist says a mosaic floor dating to the 4th century has been uncovered depicting...

Pokemon players not welcome at Cambodia's...

Aug 10, 2016

The game "Pokemon Go" is causing distress in Cambodia, where some smartphone-wielding players have...

About Us

The Daily Feeder, keep your life updated with the world’s most important political, business, and cultural news 24/7 like no any other news network can.

Contact us: sales@dailyfeeder.com

Subscribe Now!