Stock market today: Asian shares mixed in choppy trading after US inflation report

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Asian shares were mixed in choppy trading Thursday after a report showed evidence that inflation in the United States was cooling, even if it remains too high.

Japan's benchmark Nikkei 225 dipped nearly 0.1% in afternoon trading to 29,102.25. Australia's S&P/ASX 200 slipped 0.1% to 7,249.00. South Korea's Kospi added 0.1% to 2,499.99. Hong Kong's Hang Seng lost 0.4% to 19,693.89, while the Shanghai Composite was little changed, inching up less than 0.1% to 3,319.53.

On Wall Street, the S&P 500 rose 0.2% to 4,129.20 after swinging between gains and losses through the day. The Dow Jones Industrial Average slipped 0.2% to 33,487.87, while the Nasdaq composite rallied 1% to 12,306.44. "The concern coming in was that it would be hotter than feared," said Ross Mayfield, investment strategy analyst at Baird. "While not exactly an exciting report, I think there was enough good news baked in that it shouldn't impact the Fed or the economic trajectory all that much."

Stocks that benefit the most from an easing of interest rates led the way on Wall Street, including Big Tech and other high-growth stocks. Amazon's 3.3% rise and Microsoft's 1.7% climb were the two biggest forces pushing the S&P 500 higher.

 

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