Stock market today: Asian shares decline after a mixed post-holiday session on Wall Street

TOKYO — Asian shares were mostly lower Wednesday after a mixed session on Wall Street following a three-day holiday weekend.The International Monetary Fund raised its forecast for China’s economic outlook, saying it expects the No. 2 economy to grow at a 5% annual pace this year.

The Dow Jones Industrial Average fell 0.6% to 38,852.86. The Nasdaq composite rode the strength of tech stocks to gain 0.6%, to 17,019.88 and added to itsfrom last week, which calmed some of the worries that Wall Street’s frenzy around artificial-intelligence technology has inflated expectations and prices beyond reasonable levels.. The deal is valued at $4.4 billion and includes up to $2 billion in assumed debt. Shares of T-Mobile US added 0.8%.

This week has several reports that could sway the Fed’s thinking, beyond Tuesday's on confidence among consumers. In currency trading, the U.S. dollar fell to 157.04 Japanese yen from 157.12 yen. The euro cost $1.0851, down from $1.0857. Canada's Finance Minister Chrystia Freeland said on Tuesday that the federal budget presented to the Parliament last month had created conditions for interest rates to come down. The government has "been very mindful of acting in such a way that would create conditions that support the decline in inflation, or creating conditions that would make it possible for the bank to bring interest rates down," she told reporters at a conference in Ottawa.

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