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HONG KONG—Asian markets were mixed in quiet trade on Wednesday following another record close on Wall Street, while the dollar edged up slightly against the yen after suffering a sell-off in New York.
Investors seemed little moved in early exchanges by news that two US B-52 bombers flew over a disputed area of the East China Sea without telling Beijing, in a challenge China’s bid to create an expanded air defence identification zone.
Tokyo slipped 0.10 percent and Sydney eased 0.23 percent, while Hong Kong was flat, Shanghai was 0.19 percent higher and Seoul shed 0.23 percent.
With the Thanksgiving holiday in the United States closing markets on Thursday and half of Friday, analysts said dealers on Wall Street are beginning to wind down, which is having a knock-on effect globally.
However, on Tuesday the tech-rich Nasdaq jumped 0.58 percent to 4,017.75, the first time it has ended above 4,000 since the 2000 dot com bust. The Dow added 0.26 points to end at another record high, while the S&P 500, which last week broke 1,800 for the first time, edged up 0.01 percent.
The gains came despite data from the Conference Board showing US consumer confidence fell in November to its lowest level since April, suggesting the deal in Washington to avert a debt default last month did not reassure people.
BK Asset Management currency analyst Kathy Lien said the data will be noted at the Federal Reserve, which is yet to announce when it will start winding down its stimulus program.
“Even if there are more jobs, consumers need to be confident to spend,” she told Dow Jones Newswires, adding that “retailers are worried that this holiday shopping season could be the weakest since 2009″, during the global financial crisis.
She said that if they are right the Fed would not be able to begin its “taper” this year, putting downward pressure on the dollar.
The greenback sank in New York after the release of the confidence figures, ending Tuesday at 101.31 yen, compared with 101.51 yen earlier in the day in Asia.
However, on Wednesday it edged back up to 101.40 yen in early trade. The euro fetched $1.3557 and 137.50 yen against $1.3569 and 137.46 yen.
On oil markets, Brent stabilised after briefly tumbling more than two percent on Monday in response to Iran’s nuclear deal, which had fuelled fears of a crude supply glut. In early exchanges the contract for January was up one cent at $110.89.
New York’s main contract, West Texas Intermediate for January eased 20 cents to $93.48.
Gold fetched $1,243.90 per ounce at 0210 GMT compared with $1,250.87 on Tuesday.
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