Stock market today (May 14, 2024): Asian shares mixed in muted trading after Wall Street barely budges

TOKYO — Asian shares were mixed in muted trading Tuesday after U.S. stock indexes were little changed ahead of the release of inflation data.Australia’s S&P/ASX 200 slipped 0.2% to 7,731.40. South Korea’s Kospi was little changed, inching up less than 0.1% to 2,726.76. Hong Kong’s Hang Seng was up less than 0.1% at 19,115.78, while the Shanghai Composite lost nearly 0.3% to 3,139.89.

“Despite their different focuses, both indices offer insights into how inflation is shaping society,” said Santos. Biopharmaceutical company Incyte jumped 8.6% after saying it would buy back up to $2 billion of its stock. It’s the latest big company to say it’s returning cash to shareholders through such purchases, which boost the amount of earnings that each remaining share is entitled to. its main interest rate later this year. A key test for those hopes will arrive Wednesday, when the U.S. government offers the latest monthly update on inflation that households are feeling across the country.

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