TOKYO (AP) 鈥� Asian shares were mixed on Tuesday following a rally on Wall Street that was helped by easing oil prices.
Regional investors were still weighing the impact from last week’s , analysts said.
Japan’s benchmark Nikkei 225 slipped 0.3% to 63,585.58, as the U.S. dollar inched up to 157.51 Japanese yen from 157.18 yen. The euro cost $1.1511, little changed from $1.1514. The dollar was trading at 160-yen levels before regulators stepped in to boost the yen’s value after it fell to nearly 40-year lows.
Some analysts said the effectiveness of such an intervention remains uncertain as it doesn’t address the fundamental economic reasons behind the currency fluctuations, including inflation, and the relative strengths of the economies.
鈥淎 U.S.-backed operation carries far more signaling weight than Tokyo acting alone, and the pledge of further action will give speculators pause. But any U.S. contribution will probably be constrained by size,鈥� a report by BMI, a unit of Fitch Solutions, said.
Matthew Ryan, head of market strategy at global financial services firm Ebury, noted the latest effort could have some impact because it appears to signal a real change in monetary policy rather than just a one-time defensive move.
鈥淭his is an historic and meaningful development for the yen, which materially improves confidence in our mildly bullish call for the currency,鈥� he said.
South Korea’s Kospi sank 1.3% to 6,174.72. Australia’s S&P/ASX 200 added 1.2% to 9,129.00. Hong Kong’s Hang Seng fell 0.5% to 25,881.99, while the Shanghai Composite gained 0.2% to 3,802.61.
Markets remain unsettled by swings for stocks of companies that make computer chips. They鈥檝e been for weeks on worries about whether their surging revenues because of the boom are sustainable.
On Wall Street, share prices rallied Monday after easing helped calm worries over . The S&P 500 jumped 1.5% and is just 0.1% below set earlier this summer.
The Dow Jones Industrial Average, which measures a narrower slice of the U.S. stock market, climbed 693 points or 1.3% to an all-time high, while the Nasdaq composite leaped 2.1%.
In energy trading in Asia early Tuesday, benchmark U.S. crude gained 84 cents to $81.18 a barrel. Brent crude, the international standard, jumped $1.15 to $84.92 a barrel.
A day earlier, oil prices dropped more than 5% after U.S. President said over the weekend that he had new strikes against Iran at the urging of allies in the region.
Brent鈥檚 price careened between $72 and $102 last month as worries rose and fell over the war in Iran and when oil tankers would be allowed to freely exit the Persian Gulf again to deliver crude to customers worldwide.
The yield on the 10-year Treasury sank to 4.68% from 4.75% late Friday. It remains well above its 3.97% level from before the war with Iran.
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AP Business Writer Stan Choe contributed to this report.
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