BEIJING (AP) — Asian stock markets were mixed Wednesday after Wall Street rebounded, shrugging off uncertainty about a possible new attempt to impeach President Donald Trump over last week’s attack on the U.S. Capitol.

Tokyo, Australia and South Korea advanced, while Shanghai was off by 0.1%. Hong Kong swung between gains and losses.

‘Hopes are pinned on the incoming Biden administration, leveraging [a Democratic] Senate majority, to emphatically tackle COVID.’

— Mizuho Bank

On Wall Street, the benchmark S&P 500 index
gained less than 0.1%, recovering from the previous day’s decline.

Analysts suggested investors focus on President-elect Joe Biden’s economic stimulus plans after he takes office next week. Democrats in Congress are discussing possibly impeaching Trump for encouraging supporters who attacked the Capitol, but the president has taken few official actions since then.

“Hopes are pinned on the incoming Biden administration, leveraging [a Democratic] Senate majority, to emphatically tackle COVID,” said Mizuho Bank in a report.

The Shanghai Composite Index
declined to 3,604.92 while the Nikkei 225
in Tokyo advanced 0.6% to 28,325.95. The Hang Seng
in Hong Kong was down less than 0.1% at 28,267.11.

The Kospi
in Seoul added 0.8% to 3,152.03 and the S&P-ASX 200
in Sydney was up less than 0.1% at 6,681.60.

New Zealand declined, while Southeast Asian markets advanced.

Investor hopes have been boosted by the rollout of coronavirus vaccines.

Markets have risen despite a spike in case numbers in the United States and some other countries.

In the United States, those hopes have been encouraged by the shift in control of the Senate from Republicans to Biden’s Democratic Party. That might reduce the likelihood of political opposition if Biden introduces a more ambitious stimulus plan. He has said he will release details Thursday.

On Wall Street, the S&P 500 rose to 3,801.19. The Dow Jones Industrial Average
gained 0.2% to 31,068.69. The Nasdaq Composite
added 0.3% to 13,072.43.

In energy markets, benchmark U.S. crude

rose 61 cents to $53.82 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 96 cents on Tuesday to $53.21. Brent crude
used to price international oils, gained 72 cents to $57.30 per barrel in London. It gained 92 cents the previous session to $56.58.

The dollar
declined to 103.59 yen from Tuesday’s 103.83. The euro
rose to $1.2215 from $1.2201.

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