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Stock market today: Asian shares trade mixed after Big Tech rally on Wall Street

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TOKYO (AP) — Asian shares were trading mixed Tuesday following a Big Tech rally on Wall Street, as investors awaited an update on U.S. consumer prices set for later in the week. Japan's benchmark Nikkei 225 surged 1.0% to 32,776.37. Australia's S&P/ASX 200 added 0.2% to 7,206.90. South Korea's Kospi shed 0.8% to 2,536.80. Hong Kong's Hang Seng dropped 0.2% to 18,056.17, while the Shanghai Composite fell nearly 0.2% to 3,137.73. The Federal Reserve is weighing whether to keep raising interest rat

TOKYO — Asian shares were trading mixed Tuesday following a Big Tech rally on Wall Street, as investors awaited an update on U.S. consumer prices set for later in the week.

“Upcoming U.S. data will be crucial leading up to the Federal Reserve’s decision next week,” Anderson Alves of ActivTrades said in a commentary. Most traders expect the Federal Reserve to leave rates where they are at its meeting next week, according to data from CME Group. But many are bracing for another possible hike by the end of this year, while paring expectations for cuts to rates next year.

Qualcomm rose 3.9% after it announced a deal to supply 5G equipment for Apple in its phone launches in 2024 through 2026.

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