Asia-Pacific shares ended mixed Wednesday, after a midsession rally for most indexes when President Donald Trump struck a mostly conciliatory tone in his first State of the Union address.
The index in Australia XJO, +0.25% was up 0.2% and in Hong Kong HSI, +0.86% gained 0.9%, though in South Korea SEU, -0.05% slipped nearly 0.1%, after the trio posted their biggest declines in several months on Tuesday.
“It is not a market-upsetting speech; rather a motherhood and apple pie in the great American tradition,” said Rob Carnell, head of research for Asia-Pacific at Dutch bank ING.
Chinese equities fell early amid the expiration of futures contracts Wednesday and a decline to eight-month lows for a key manufacturing reading for January.
And oil futures CLH8, -0.73% extended this week’s pullback, falling nearly 1% further in Asia following a U.S. industry group saying domestic crude supplies rose nearly double the amount expected to be shown in Wednesday’s government release.
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