Stock market today: Asian stocks trade mixed after Wall Street logs modest gains

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Asian shares are mixed as investors weighed data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street. Shares slipped Wednesday in Tokyo, Hong Kong and Shanghai, but rose in Sydney and Seoul. On Tuesday, the S&P 500 rose 0.2%, though most stocks within the index fell. The Dow Jones Industrial Average rose 0.

FILE - A person stands in front of an electronic stock board showing Japan’s Nikkei index at a securities firm in Tokyo, on May 28, 2024. Asian shares traded mixed Wednesday, June 5, 2024, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street. FILE - A security guard stands guard at the entrance of Tokyo Stock Exchange building in Tokyo, on May 28, 2024.

On Tuesday, the S&P 500 ticked up by 0.2% to 5,291.34, though more stocks within the index fell than rose. The Dow Jones Industrial Average rose 0.4% to 38,711.29, and the Nasdaq composite added 0.2% to 16,857.05. But it also followed a report on Monday that showed U.S. manufacturing contracted in May for the 18th time in 19 months. Worries about a slowing economy have hit the price of crude oil in particular this week, raising the possibility of less growth in demand for fuel.

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