TOKYO (AP) — Asian shares were mostly higher on Wednesday after Tesla shares zoomed up more than 10%, helping to drive U.S. benchmarks to new records.
Japan's benchmark Nikkei 225 rose 1.3% to finish at 40,580.76. Australia's S&P/ASX 200 gained nearly 0.3% to 7,739.90. South Korea's Kospi edged up 0.5% to 2,794.71. Hong Kong's Hang Seng added 1.1% to 17,956.55, while the Shanghai Composite index lost 0.4% to 2,982.38.
Asian investors were cheered by hopes for an interest rate cut in the U.S. But some traders were keeping to the sidelines ahead of Thursday’s Independence Day holiday in the U.S.
“On the radar is the Japan’s Nikkei, which may extend its run above the 40,000 level, with overnight strength in tech while the Japanese yen continues to trade at a 38-year low,” said Yeap Jun Rong, market analyst at IG.