Stock market today: Asian markets are mixed, Shanghai falls as Fitch lowers China's rating outlook

BANGKOK — Shares were mixed Wednesday in Asia after U.S. stock indexes held at a near standstill ahead of some potentially market-moving reports.

Later Wednesday the U.S. will release its highly anticipated update on inflation at the consumer level. This week will also bring other reports on inflation, and big U.S. companies will begin reporting how much profit they made during the first three months of the year.

Brent crude, the international standard, was up 22 cents to $89.64 per barrel, after falling 96 cents on Wednesday to $89.42 per barrel. Some of Wall Street's largest losses came from the same stocks that have been the biggest winners in the market's frenzy around artificial-intelligence technology., it was the single heaviest force weighing on the S&P 500. Super Micro Computer fell 2.6%, though its stock has still more than tripled so far this year.

Fitch Ratings revised China’s outlook to negative from stable, saying the government is likely to pile on debt as it seeks to pull the economy out of a real estate-driven slowdown.BEIJING -China's auto factories had a capacity utilisation rate of more 70% in 2023 and idled capacity is being closed, a senior official of the China Association of Automobile Manufacturers said on Wednesday.

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