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Asian shares mixed after Wall Street pulls near its all-time high

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....sian shares mixed after Wall Street pulls near its all-time high<BR>PTI News<BR>Dated:- 4-12-2025<BR>PTI<BR>Manila, Dec 4 (AP) Asian shares were mixed on Thursday after US stocks rose to near their records. US futures were little changed and oil prices advanced. Japan's Nikkei 225 index climbed 1.7% to 50,705.76 on expectations that the US Federal Reserve will cut its main interest rate next w....

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....eek, even while traders speculate over whether the Bank of Japan will raise interest rates this month. Technology and telecoms giant SoftBank Group Corp's shares jumped 8.8%. The government's 10-year bond yield also rose above 1.9%, it's highest since 2007. Hong Kong's Hang Seng index reversed early trading losses, adding 0.2% to 25,816.50, led by gains for tech and consumer stocks. The Shan....

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....ghai Composite index edged less than 0.1% higher, to 3,879.52. South Korea's Kospi index fell 0.7% to 4,008.22, with weakness in tech and automotive stocks weighing on the benchmark. Australia's S&P/ASX 200 index recovered from a slump earlier in the day, adding less than 0.1% to 8,603.20. Taiwan's Taiex index fell nearly 0.3%. On Wednesday, US stocks rose to near their record levels as mi....

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....xed data on the economy kept alive hopes for a cut to interest rates. The S&P 500 gained 0.3% to 6,849.72 and pulled within 0.6% of its all-time high set in late October. The Dow Jones Industrial Average climbed 0.9% to 47,882.90, and the Nasdaq composite added 0.2% to 23,454.09. The biggest jump in the S&P 500 came from Microchip Technology, which leaped 12.2% after saying it expects sales an....

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....d profit for the final months of the year to come in at the high end of the forecasted ranges it earlier gave. CEO Steve Sanghi said business is doing better than expected, and it's reducing inventory levels. Marvell Technology was another winner, gaining 7.9% after the supplier of semiconductor products delivered a stronger profit for the latest quarter than analysts expected. Stocks broadl....

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....y got a lift from easing Treasury yields in the bond market. Yields fell after a report suggested US employers outside of the government may have cut more jobs in November than they added. While the surprisingly weak report from ADP may be discouraging for people looking for jobs, it also bolstered expectations that the Federal Reserve will cut its main interest rate next week. If the Fed does, ....

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....that would be the third cut of the year in hopes of helping the slowing job market. Investors love lower interest rates because they boost prices for investments and can charge up the economy. A separate report Wednesday on activity for the US services sector was more encouraging. It said growth was stronger last month than expected for businesses in the retail, finance, insurance and other in....

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....dustries. The report from the Institute for Supply Management's survey also said that prices were increasing at their slowest rate since April. That's important because the main argument against cutting interest rates is that it could worsen inflation. The yield on the 10-year Treasury fell to 4.06% from 4.09% late Tuesday. Lower interest rates can boost prices for all kinds of investments, ....

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....and bitcoin climbed above $93,000 following its scary downward run in recent weeks. It briefly plunged below $81,000 last month. In other dealings early Thursday, US benchmark crude oil added 27 cents to $59.22 per barrel. Brent crude, the international standard, gained 22 cents to $62.89 per barrel. The US dollar rose to 155.35 Japanese yen from 155.25 yen. The euro slid to $1.1659 from $1.16....

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....72. (AP) SCY SCY<BR> News - Press release - PIB....