HONG KONG — Asian stocks were mostly higher on Wednesday after a rally on Wall Street that took the Nasdaq composite index to a record high.at the wholesale level in the United States, before many price changes are passed along to consumers, with the producer price index reading for April reaching 0.5%, higher than forecast.
In China, the Shanghai Composite index slipped 0.5% to 3,129.81 after the central bank kept a key lending rate unchanged Wednesday, signaling Beijing’s focus on maintaining monetary stability.Markets in South Korea and Hong Kong were closed for a holiday. Bond yields edged lower. The yield on the 10-year Treasury slipped to 4.43% Wednesday from 4.49% late Monday.
In other trading, benchmark U.S. crude added 55 cents to $78.57 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, rose 51 cents to $82.89 a barrel.
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