Stock market today: Asian shares mostly decline, shrugging off Wall Street's overnight rally

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Asian shares are trading mostly lower, despite a rally on Wall Street in stocks seen as benefiting the most from Donald Trump’s reelection as president.

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Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Nov. 12, 2024. Chinese tech stocks have been declining lately, while investors also have their eyes on upcoming earnings reports out of China. Stocks of companies more focused on the U.S. economy were also rising more than the rest of the market, including a 1.5% rally for the smaller stocks in the Russell 2000 index, because they’re seen as benefiting more from Trump’s America First policies than big multinational companies.Such Big Tech stocks have rocketed higher on excitement about artificial-intelligence technology, and they had been gaining almost regardless of what the economy was doing.

 

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Stock market today: Asian shares fall after Wall Street pulls back from its recordsAsian shares outside of China are lower in cautious trading ahead of earnings reports both in the region and overseas, after Wall Street's long, record-breaking rally ran out of steam. Benchmarks fell in Tokyo, Seoul and Sydney, while rising slightly in Hong Kong and Shanghai. The yen weakened against the U.S. dollar and oil prices edged lower.
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