Asian markets mixed after record US highs

HONG KONG: Asian shares were mixed Wednesday after another record-breaking close on Wall Street, though most financial markets in the region were closed for the Christmas holiday.

Tokyo climbed 0.40 percent, Shanghai slid 0.17 percent while Taipei rose 0.24 percent.

Financial markets in Hong Kong, the Philippines, Malaysia, Indonesia, Singapore, Australia, New Zealand, South Korea and India were closed for a public holiday.

US stocks closed at a new all time high Tuesday before the Christmas break, following solid reports on durable goods and new home sales.

The Dow Jones Industrial Average and the S&P 500 both hit their highest ever levels on Tuesday, rising 0.39 percent to 16,357.55 and 0.29 percent to 1,833.32 respectively.

The tech-rich Nasdaq Composite Index tacked on 0.16 percent to 4,155.41.The November report on US durable goods orders showed an increase of 3.5 percent, more than expected.

The number of new home sales in the US in November, though slightly down from the October level, also bested expectations.

A strong dollar, ongoing monetary easing by the Federal Reserve, the recovering US economy, and low interest rates were expected to offer support to Japanese equities, Hideyuki Ishiguro, assistant manager of investment strategy at Okasan Securities, told Dow Jones Newswires.

The dollar fetched 104.35 yen on Wednesday compared with 104.27 yen in New York Tuesday afternoon.

The euro bought $1.3663 and 142.57 yen against $1.3681 and 142.65 yen.

China shares were down slightly in morning trade, led by drug makers on worries over the safety of a hepatitis B vaccine, dealers said.

Authorities are investigating after a hepatitis B vaccine produced by a domestic drug maker was linked to the deaths of at least seven infants, state media have reported.

On oil markets New York´s main contract, West Texas Intermediate for February delivery, was up 29 cents from morning trade Tuesday at $98.95. (AFP)