Asian shares mixed ahead of inflation, earnings reports
Asian shares are mixed following another volatile day on Wall Street, as traders brace for updates on inflation and corporate earnings
TOKYO (AP) — Asian shares were mixed Wednesday following another volatile day on Wall Street, as traders braced for updates on inflation and corporate earnings.
Benchmarks fell in Tokyo, Hong Kong and Taiwan but rose in Shanghai and Sydney. In currency trading, the Japanese yen declined to a 24-year low against the U.S. dollar at 146 yen-levels, raising expectations of another intervention by Tokyo to prop up the yen.
South Korea's Kospi added 0.5% to 2,203.47 after the Bank of Korea raised its key rate by 0.5 percentage points, amid the backdrop of the U.S. Fed rate hikes and growing inflation risks from the weak won and rebounding global oil prices.
In currency trading the Japanese yen declined to a 24-year low against the U.S. dollar at 146 yen-levels, raising expectations of another Japanese intervention to prop up the yen. The dollar was trading at 146.26 Japanese yen, up from 145.80 yen. The euro cost 97.13 cents, inching up from 97.07 yen.
