Asian markets track Wall St gains

Hong Kong: Asian markets were mixed in cautious trading on Wednesday, with most of the regions’ benchmarks climbing after US stocks hit new record highs. US futures rose while oil prices slipped. Tokyo’s Nikkei 225 fell 0.6 per cent to 38,719.35 after Japan reported that its trade deficit rose last month as rising costs for imports outpaced an 8 per cent rise in exports from the year before. The data were weaker than analysts had forecast.

Hong Kong’s Hang Seng index gained 0.4 per cent to 19,288.93, led by EV makers including Xpeng, whose shares jumped 13.5 per cent on Wednesday on better-than-expected earnings in the first quarter. The Shanghai Composite index logged slimmer gains, rising less than 0.1 per cent to 3,158.64. In South Korea, the Kospi edged 0.1 per cent higher to 2,726.35. Australia’s S&P/ASX 200 was up less than 0.1 per cent to 7,855.00. Taiwan’s Taiex gained 1.2 per cent.