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Asian stocks opened mixed Wednesday after U.S. equities treaded water near a record ahead of key inflation data.
Shares slipped in Japan and South Korea and edged higher in Australia. U.S. equity contracts were steady after the S&P 500 ended little changed just shy of its May 7 record close.
The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, was little changed at 15,763 as of 7:15 a.m.
Traders will be alert for any repercussions after passage of a bill to invest almost $250 billion in bolstering U.S. manufacturing and technology to meet the challenge from China.
Oil resumed its rally to top $70 a barrel in New York as investors grow more confident that the recovery from the pandemic will help demand. Bitcoin remains under pressure, trading below $33,500 after a retreat this week.
