Shares were mostly lower Wednesday in Asia after Wall Street benchmarks retreated following the S&P 500’s rise to its highest level since the spring of last year.
U.S. futures were little changed and oil prices rose.
Tokyo’s Nikkei 225 edged 0.1% higher to 33,427.14, while the Hang Seng in Hong Kong sank 1.5% to 19,607.08. The Shanghai Composite index gave up 0.5% to 3,240.36 and the Kospi in Seoul slipped 0.4% to 2,594.19.
In Australia, the S&P/ASX 200 shed 0.2% to 7,345.30.
This week has few potentially market-moving events.
Federal Reserve Chair Jerome Powell will testify before Congress on Wednesday and Thursday. Last week, the Fed held its benchmark lending rate steady, the first time in more than a year that it didn’t announce an increase. But it also warned it could raise rates twice more this year.
The Bank of England will meet on interest-rate policy Thursday. Central banks around the world are heading in diverging directions as they battle inflation amid worries about a pressured global economy.
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