Asian stocks are mixed following a quiet day on Wall Street

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A currency trader works near a screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won, center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Oct. 23, 2024. Chinese markets rose for a second day after the central bank cut its one-year and five-year Loan Prime Rates on Monday. Hong Kong’s Hang Seng added 1.7% to 20,841.73, and the Shanghai Composite gained 0.8% to 3,311.87.

Elsewhere, Australia’s S&P/ASX 200 was almost unchanged at 8,207.20. South Korea’s Kospi was 1.3% higher at 2,594.23.On Tuesday, the S&P 500 edged down less than 0.1% to 5,851.20. The Dow Jones Industrial Average slipped less than 0.1% to 42,924.89. The Nasdaq composite rose 0.2% to 18,573.13. But it also is forcing traders on Wall Street to ratchet back expectations for how much the Federal Reserve will. The central bank has made the drastic shift to lowering interest rates in hopes of keeping the economy strong, but a more resilient-than-expected economy wouldn’t need as much help.

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