Stock market today: Global shares trade mixed despite Wall Street's record rally

FILE - A person looks at an electronic stock board showing Japan's stock prices at a securities firm Friday, March 1, 2024, in Tokyo. Asian shares mostly rose Wednesday, March 13, encouraged by a record rally on Wall Street that was led by technology companies. – Global shares were mixed in muted trading Wednesday as optimism set off by a record rally on Wall Street gradually ran out of momentum.

Australia's S&P/ASX 200 rose 0.2% to 7,729.40 and South Korea's Kospi gained 0.4% to 2,693.57. But Japan’s benchmark Nikkei 225 lost its morning gains to finish at 38,695.97, slipping 0.3%.0.4% to 3,043.83. In currency trading, the U.S. dollar rose slightly to 147.78 Japanese yen from 147.63 yen. The euro cost $1.0933, inching up from $1.0930.

“Economic data has further validated the BoJ’s stance, with markets witnessing higher-than-expected Japan's wage growth for January, while Japan’s economy managed to skirt a technical recession in its updated fourth quarter gross domestic product,” said Yeap Jun Rong, market analyst at IG.were close to expectations, and traders held on to hopes that the longer-term trend downward means the Federal Reserve will begin rate cuts in June.

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Stock market today: Asian shares mostly rise after Wall Street's record rallyAsian shares are mostly rising, encouraged by a record rally on Wall Street. Benchmarks gained Wednesday in Sydney, Seoul and Hong Kong. Tokyo's Nikkei 225 lost morning gains to slip in afternoon trading. Also on investors' minds is the Japanese yen's rise against the U.S.
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