Asian stocks mixed after lacklustre day on Wall Street

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Asian shares were mixed Wednesday after Wall Street took a breather, with major indexes edging lower.

Japan's benchmark Nikkei 225 edged up 0.1% to finish at 29,730.79 and the Shanghai Composite index sank 0.2% to 3,475.96. Australia's S&P/ASX 200 gained 0.6% to 6,928.00. South Korea's Kospi added 0.4% to 3,139.55. Hong Kong's Hang Seng slipped 0.8% to 28,702.49.

The International Monetary Fund said it expects global economic growth to accelerate this year as vaccine distribution ramps up and the world rebounds. The 190-country lending agency said it expects the world economy to expand 6% in 2021, up from the 5.5% it had forecast in January. That would be the fastest expansion in IMF records dating back to 1980.

CVC is an international private equity and credit company that has committed nearly $162 billion in funds, managing more than 300 investors. It declined to comment. The S&P 500 snapped a three-day winning streak, slipping 0.1% to 4,073.94, after wavering between small gains and losses. The Dow Jones Industrial Average fell 0.3% to 33,430.24. Both indexes set all-time highs Monday. The tech-heavy Nasdaq composite slipped 0.1% to 13,698.38.

Recent market gyrations mostly reflect varying assessments of the health and speed of the recovery from the pandemic.

 

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