MSCI's broadest index of Asia-Pacific shares outside Japan declined 0.23 per cent. Australian stocks rose 0.55 per cent, but shares in China slipped 0.44 per cent. — Reuters picTOKYO, April 28 ― Asian shares were mixed today as already high valuations discouraged investors from buying equities ahead of a closely-watched US Federal Reserve meeting.
These developments would normally be a positive for stocks, but analysts say so much economic optimism is already priced into the equity market that it is difficult to buy stocks further from current levels. The Dow Jones Industrial Average rose 0.01 per cent, but the S&P 500 lost 0.02 per cent, and the Nasdaq Composite dropped 0.34 per cent as investors digested a mixed bag of earnings from Tesla Inc, 3M Co, Microsoft Corp, and Google-parent Alphabet overnight.
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