Asian Shares Decline Following Mixed Wall Street Finish

Weakening Yen and Speculation of Federal Reserve Rate Cuts Influence Market Movements

Asian shares mostly declined after a mixed finish on Wall Street, with benchmarks rising in Tokyo but falling in Sydney, Seoul, Hong Kong, and Shanghai.
The yen has weakened amid speculation that the Bank of Japan might go slowly on changing its lax policy stance as it assesses the impact of Monday’s major earthquake in central Japan.
Wall Street stocks finished mixed, carrying the weak start for 2024 into a third day. The S&P 500 slipped 0.3% and is on track for its first losing week in the last 10.
Traders are betting the Federal Reserve will cut interest rates by twice as much this year as the central bank has indicated, with the first cut possibly coming as soon as March.
A report from the U.S. government showed fewer U.S. workers filed for unemployment benefits last week than expected, and another from ADP Research Institute said private employers accelerated their hiring last month by more than economists expected.