BEIJING – Asian stock markets rose Wednesday after Wall Street broke a six-day winning streak.
Shanghai, Tokyo, Hong Kong and Seoul all advanced.
Wall Street's benchmark S&P 500 index ended down 0.1% as investors watched Washington, where President Joe Biden’s Democrats planned to move ahead without Republican help on a stimulus plan.
“Investors naturally thought it worth reducing some equity market risk after the recent volatility,” said Stephen Innes of Axi in a report. But “everything should eventually come up roses” due to optimism about stimulus, U.S. central bank support and the rollout of coronavirus vaccines.
The Shanghai Composite Index rose 0.7% to 3,629.54 while the Nikkei 225 in Tokyo advanced just under 0.1% to 29,531.48. The Hang Seng in Hong Kong added 1.6% to 29,958.51.
The Kospi in Seoul gained 0.2% to 3,091.02 and Sydney's S&P-ASX 200 was 0.6% higher at 6,860.50.
New Zealand and Singapore retreated while Bangkok and Jakarta rose.
On Wall Street, the S&P 500 index slipped to 3,911.23. The Dow Jones Industrial Average dropped less than 0.1%, to 31,375.83. The Nasdaq rose 0.1% to 14,007.70.