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DailyBubble News

Stock market today: Asian shares mixed after Wall Street’s lull stretches to a 2nd day

Asian shares were mixed on Thursday as Wall Street remained quiet for a second day. Chinese benchmarks rose after China reported better-than-expected trade figures for April. U.S. futures were slightly lower and oil prices rose.

In Tokyo, the Nikkei 225 index was down 0.3%. Automaker Mitsubishi Motors Corp. saw a 4.9% drop in shares after forecasting a 7% lower net profit for the fiscal year ending in March 2025. Toyota Motor slipped 0.4% despite doubling its net profit in the previous fiscal year.

The Hang Seng in Hong Kong increased by 1.1% and the Shanghai Composite index gained 0.6%. China reported a 1.5% rise in exports and an 8.4% jump in imports for April, indicating a stronger recovery in demand.

The S&P 500 finished virtually unchanged on Wednesday, while the Dow Jones Industrial Average rose and the Nasdaq composite slipped. Uber Technologies and Shopify saw declines in their stock prices, while Match Group and Lyft exceeded profit expectations.

Intel fell 2.2% after the U.S. Commerce Department revoked licenses for exports to a Chinese customer. Arista Networks climbed 6.5% after topping profit and revenue expectations.

Most companies have reported stronger profits for the beginning of the year than analysts expected. Treasury yields have been easing since Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts.

In other trading, U.S. benchmark crude oil rose to $79.38 per barrel, and the euro dropped to $1.0741.

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