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Stock market today: Asian markets are mostly lower as oil prices push higher

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Shares were mostly lower in Asia on Wednesday after a decline on Wall Street as traders returned from a long holiday weekend. Japan’s Nikkei 225 index advanced but most other regional markets fell. Crude oil prices pushed higher, adding to inflationary pressures at a time when investors are hoping to see central banks back away from interest rate hikes. “While oil bulls are dancing in the street, the notable price uptick could prove challenging for central banks and financial markets, which were

Shares were mostly lower in Asia on Wednesday after a decline on Wall Street as traders returned from a long holiday weekend.Crude oil prices pushed higher, adding to inflationary pressures at a time when investors are hoping to see central banks back away from interest rate hikes.

Hong Kong's Hang Seng index sank 0.8% to 18,306.24, extending losses as the market eases back from gains fueled by recent stimulus measures for the ailing Chinese property market.On Tuesday, the S&P 500 fell 0.4%, to 4,496.83, while the Dow Jones Industrial Average declined 0.6% to 34,641.97. The Nasdaq slipped 0.1% to 14,020.95, while the Russell 2000 slid 2.1% to 1,880.45.

Early Wednesday, U.S. benchmark crude oil was up 1 cent at $86.70 a barrel in electronic trading on the New York Mercantile Exchange. It gained $1.44 on Tuesday. Wall Street will also get updates on aspects of the manufacturing sector and consumer credit. DocuSign, GameStop, Dave & Buster’s and Kroger are set to report their most recent quarterly financial results this week.

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