Asian shares mixed as boost from US stimulus package fades

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People walk by an electronic stock board of a securities firm in Tokyo, Wednesday, Dec. 30, 2020. Asian shares were mixed Wednesday after a lackluster day on Wall Street, as the boost from President Donald Trumps signing of the coronavirus relief package faded.(AP Photo/Koji Sasahara)

Asian shares were mixed Wednesday after a lackluster day on Wall Street, as the boost from President Donald Trump’s signing of the coronavirus relief package faded.

Benchmarks fell in Tokyo and Sydney but rose in Hong Kong, Seoul and Shanghai.

The S&P 500 lost 0.2% on Tuesday, a day after major indexes notched their latest all-time highs after President Donald Trump signed the $900 billion economic relief package.

An effort by Trump to get bigger, $2,000 COVID-19 relief checks for individuals has stalled in the Republican-led Senate. For now, $600 checks are set to be delivered, along with other aid, in one of the largest rescue packages of its kind.

Investors have been waiting months for such help, which economists say is needed to tide the economy over as coronavirus caseloads surge, leading governments to reimpose restrictions to stem the pandemic.

Hong Kong led gains in Asia on Wednesday, climbing 1.2% to 26,895.07, while the Shanghai Composite index advanced 0.7% to 3,401.57. South Korea's Kospi added 0.6% to 2,837.08.

Japan's Nikkei 225 fell 0.6% to 27,407.41, a day after it surged more than 2% to its highest level in more than 30 years. Japanese markets will be closed Thursday through the end of the week, reopening Jan. 4.

In Australia, the S&P/ASX 200 declined 0.8% to 6,643.00.