Asian stocks mixed on Wednesday

Asian stocks closed with mixed results on Wednesday as investors grappled with conflicting signals from US policymakers and economic data regarding the Federal Reserve’s interest rate plans, Reuters reported.

Meanwhile, the dollar strengthened despite lower US Treasury yields.

Mixed equities:

• MSCI’s broadest index of Asia-Pacific shares outside Japan (excluding Japan) dipped 0.19 per cent, weighed down by declines in mainland China.
• Hong Kong’s Hang Seng rose 0.52 per cent.
• Japan’s Nikkei fell one per cent as traders took profits after Tuesday’s gains and chip stocks came under pressure.
• US stock futures were flat.
• The US dollar index rose, adding to Tuesday’s advance.
• The yen slipped slightly even after Japan’s finance minister expressed concern about its weakness.

Oil prices extended Tuesday’s losses on expectations of rising US crude inventories and hopes for a Middle East ceasefire.

Brent crude futures fell 0.38 per cent, while US West Texas Intermediate crude futures declined 0.36 per cent.

Meanwhile, gold prices mentioned a slight decrease by 0.16 per cent to about $2,310 per ounce.