Asian Shares Decline After Nasdaq Sets Record High

Asian shares mostly fell Tuesday, even as most US stock indices finished higher, especially technology issues like Nvidia, Yuri Kageyama and Stan Chore reported for the Associated Press (AP).

In Asia, investors are focused on signs about the health of the Chinese economy.

Japan’s benchmark Nikkei 225 rose 0.2% in early trading to 39,141.08. Australia’s S&P/ASX 200 lost 0.2% to 7,851.90.

South Korea’s Kospi fell 0.4% to 2,732.26. Hong Kong’s Hang Seng dove 2.1% to 19,233.09, while the Shanghai Composite shed 0.4% to 3,159.90. In Asia, investors are focused on signs about the health of the Chinese economy.

S&P Global Market Intelligence raised this year’s growth forecast to 4.8% from 4.7% in April but stressed it was not overly optimistic.

Monday on Wall Street, the S&P 500 rose 0.1% to 5,308.13 and pulled within 0.02 of its record set last week. The Nasdaq composite gained 0.7% to 16,794.87 to set its own all-time high.

The Dow Jones Industrial Average slipped 0.5% to 39,806.77 in its first trading after closing above the 40,000 level for the first time on Friday.

“The overall outlook of a tepid economic recovery remains unchanged, with the expansion supported by enhanced policy stimulus, strengthening external demand and gradually improving private-sector confidence,” it said in a report.