Asian share prices mostly lower as Wall Street rally fades

Men walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Wednesday, Jan. 10, 2018. Share prices were mostly lower in Asia on Wednesday despite Wall Street’s extended winning streak. Chinese shares were buoyed by surging oil prices. (AP Photo/Eugene Hoshiko)
A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Wednesday, Jan. 10, 2018. Share prices were mostly lower in Asia on Wednesday despite Wall Street’s extended winning streak. Chinese shares were buoyed by surging oil prices. (AP Photo/Eugene Hoshiko)
A man walks past an electronic stock board showing Japan's Nikkei 225 index and other country's index at a securities firm in Tokyo Wednesday, Jan. 10, 2018. Share prices were mostly lower in Asia on Wednesday despite Wall Street’s extended winning streak. Chinese shares were buoyed by surging oil prices. (AP Photo/Eugene Hoshiko)

TOKYO — Share prices were mostly lower in Asia on Wednesday despite Wall Street's extended winning streak. Chinese shares were buoyed by surging oil prices.

KEEPING SCORE: Japan's Nikkei 225 index lost 0.1 percent to 23,816.31 and the Kospi in South Korea lost 0.3 percent to 2,502.72. Australia's S&P ASX 200 slipped 0.5 percent to 6,104.80. But the Hang Seng index in Hong Kong jumped 0.7 percent to 31,230.37 and the Shanghai Composite index added 0.4 percent to 3,425.84. Shares fell in Taiwan and were mixed in Southeast Asia.

WALL STREET: Stocks pushed further into record territory Tuesday, with health care stocks and banks leading the gains. The S&P 500 rose 0.1 percent to 2,751.29 to equal its longest winning streak leading off a year since 2010. The Dow Jones industrial average rose 0.4 percent to 25,385.80 and the Nasdaq composite gained 0.1 percent to 7,163.58. The Russell 2000 index of small-cap stocks slipped 0.1 percent to 1,560.10.

OIL RALLY: Gains in oil prices helped lift energy sector heavyweights in Hong Kong. China Petroleum & Chemical Corp. gained 2.8 percent while PetroChina added 1.9 percent and China Shenhua climbed 2.1 percent.

ANALYST VIEWPOINT: "The slew of positive factors creates a breeding ground for optimism as we find the U.S. market sustaining on the climb. The Dow Jones, S&P 500 and NASDAQ indices brought us fresh highs once again on Tuesday, though the carry through to Asian markets may be limited by caution ahead," Jingyi Pan of IG said in a commentary.

CURRENCIES: The dollar fell to 112.29 Japanese yen from 112.65 yen late Tuesday. The euro rose to $1.1942 from $1.1938, and the British pound dipped to $1.3534 from $1.3540.

ENERGY: Benchmark U.S. crude oil rose 50 cents to $63.46 per barrel in electronic trading on the New York Mercantile Exchange. It jumped $1.23 to settle at $62.96 per barrel on Tuesday. Brent crude, the international standard, added 37 cents to $69.19 per barrel. It rose $1.04 to settle at $68.82 per barrel in London.

Must Read

China promises cooperation on steel at global summit

Sep 5, 2016

China promises cooperation on steel at global summit amid pressure for trade curbs

May says Britain still inspires confidence post-Brexit

Sep 5, 2016

After meeting with other world leaders during the G-20 summit, British Prime Minister Theresa May...

China, Russia launch South China Sea naval war games

Sep 12, 2016

China's military says the Chinese and Russian navies are launching eight days of war games in the...

Winds may finally clear 'scary' pollution from China's skies

Dec 21, 2016

The dense smog that has smothered much of China for five days may soon clear, giving relief to...

Global markets mixed after Wall Street loss

Dec 23, 2016

Asian markets are mostly lower while Europe has gained in early trading ahead of the Christmas...

More News From aseancoverage.com

Bumpy beginning for Obama in China, starting on the tarmac

Sep 4, 2016

If President Barack Obama was hoping for a graceful start to his final trip to Asia as commander in...

Air China removes mag with offensive article about London

Sep 8, 2016

Air China says it has removed copies of its inflight magazine containing an article criticized as...

Asian stocks rise after Wall Street gains

Dec 21, 2016

Asian stocks are higher after U.S. stocks rose to record levels despite attacks in Germany and...

Winds may finally clear 'scary' pollution from China's skies

Dec 21, 2016

The dense smog that has smothered much of China for five days may soon clear, giving relief to...

China's 1st aircraft carrier heads for Western Pacific

Dec 25, 2016

China's Defense Ministry says the country's first aircraft carrier has set off for the Western...