Elaine Kurtenbach, The Associated Press
Published Monday, April 15, 2019 11:13PM EDT
TOKYO — Shares were mixed Tuesday in Asia in mostly narrow trading in the absence of any major market-driving news.
The Nikkei 225 index added 0.2% to 22,208.70. China’s Shanghai Composite index lost 0.6% to 3,158.76 and the Hang Seng index in Hong Kong lost 0.3% to 29,736.05. South Korea’s Kospi gave up 0.2% to 2,237.79 and the S&P 500 gained 0.3% to 6,272.00.
Upbeat talk from the White House on trade negotiations with the China failed to lift Chinese shares. Meanwhile, China’s central bank, The People’s Bank of China, said it was adjusting its monetary policy to co-ordinate with government spending.
“Market moves have become more muted ahead of the Easter holidays, while liquidity is also expected to be poorer,” Mizuho Bank said in a commentary. “PBOC stated that some positive changes are seen in structural adjustments of the economy in the first quarter, but uncertainties remain,” it said.
On Wall Street, the S&P 500 index edged lower, weighed down by bank shares after Goldman Sachs said it’s off to a “muted start to the year,” even though its earnings for the first quarter still beat analysts’ expectations. Citigroup also slipped following its earnings report, as banks lead off a quarterly reporting season that analysts expect to be the weakest in nearly three years.
The S&P 500 lost 0.1% to 2,905.58. The Dow Jones Industrial Average fell 0.1% to 26,384.77 and the Nasdaq composite lost 0.1% to 7,976.01. The Russell 2000 index of small-cap stocks dropped 0.4%, to 1,579.17.
The S&P 500 remains within 0.9% of its record following a torrid start to the year, after the Federal Reserve said it may not raise interest rates at all in 2019.
Optimism has also grown that the U.S. and