Stock market today: Asian shares mixed after calm day on Wall St

TOKYO -- Asian shares were mixed connected Wednesday aft U.S. stocks held comparatively dependable connected Wall Street.

U.S. futures and lipid prices slipped, portion the yen weakened further against the U.S. dollar.

Tokyo's Nikkei 225 mislaid 1.6% to 38,202.37.

Nintendo Co.’s stock terms sank 5.4% aft the company’s forecasts disappointed investors and it announced that quality of a successor merchandise to its fashionable Switch instrumentality volition beryllium made by March 2025.

Sony Corp. shed 5% amid speculation implicit a imaginable buyout of Paramount Global by Sony Pictures and the backstage equity steadfast Apollo Global Management.

Market players are watching to spot however authorities respond to the yen's persisting weakness against the U.S. dollar.

The dollar roseate to 155.20 Japanese yen from 154.50 yen. Japanese officials person expressed interest aft the yen's worth slipped to 160.25 per dollar successful caller days, prompting the Ministry of Finance to intervene.

“Exchange-rate moves could person a large interaction connected the system and prices, truthful there’s a accidental we whitethorn request to respond with monetary policy,” Kazuo Ueda, politician of the Bank of Japan, told lawmakers connected Wednesday.

A anemic yen helps the profits of Japanese companies that gain overmuch of their gross overseas, but fluctuations successful rates tin upend readying and the yen's weakness has severely eroded the purchasing powerfulness of some households and businesses, pushing up costs of imports of food and energy, among different things.

Elsewhere successful Asia, Hong Kong's Hang Seng scale shed 0.7% to 18,354.11 and the Shanghai Composite scale gave up 0.6%, falling to 3,129.65.

Australia's S&P/ASX 200 edged 0.1% higher to 7,804.50, portion the Kospi successful South Korea roseate 0.4% to 2,745.05.

Taiwan's Taiex was up 0.2%.

On Tuesday, the S&P 500 edged 0.1% higher, to 5,187.70. It was a quiescent time pursuing 3 consecutive leaps for the scale of astatine slightest 0.9%.

The Dow Jones Industrial Average added 0.1%, to 38,884.26, and the Nasdaq composite slipped 0.1%, to 16,332.56.

Kenvue, the institution whose brands see Band-Aids and Tylenol, roseate 6.4% aft topping analysts’ forecasts for some nett and gross successful the latest quarter.

The Walt Disney Co. sank 9.5% contempt reporting stronger results for its latest 4th than analysts expected. Its gross fell a spot shy of forecasts, and it expects its amusement streaming concern to soften successful the existent quarter.

They’re among the process extremity of companies reporting their results for the archetypal 3 months of the year. Most companies person bushed their forecasts for earnings, but they’re not getting arsenic large a boost to their banal prices afterward arsenic they usually do, according to FactSet. Not lone that, companies that autumn abbreviated of nett expectations person seen their banal prices descend by much the pursuing time than they person historically.

That could suggest investors are listening to critics who person been calling the U.S. stock market broadly excessively costly pursuing its tally to records this year. For banal prices to ascent further, either profits volition request to turn much oregon involvement rates volition request to fall.

Wall Street inactive considers the second a anticipation this twelvemonth pursuing immoderate events past week that traders recovered encouraging.

Federal Reserve Chair Jerome Powell said the cardinal slope remains person to cutting its main involvement complaint than hiking it, contempt a drawstring of stubbornly precocious readings connected ostentation this year. A cooler-than-expected jobs study connected Friday, meanwhile, suggested the U.S. system could propulsion disconnected the balancing enactment of staying coagulated capable to debar a atrocious recession without being truthful beardown that it keeps ostentation excessively high.

In different trading, U.S. benchmark crude lipid fell 48 cents to $77.90 per tube successful physics trading connected the New York Mercantile Exchange. It mislaid 10 cents connected Tuesday to $78.38 per barrel.

Brent crude oil, the planetary standard, declined 52 cents to $82.64 per barrel.

The euro dropped to $1.0747 from $1.0755.