Asian Shares Are Mostly Higher in Cautious Trading as Wall Street Settles

TOKYO (AP) — Asian shares mostly gained in cautious trading Wednesday after most U.S. stocks rose, settling back to where they were before last week’s swoon over the future of artificial intelligence.

U.S. futures edged higher while oil prices declined. Japan’s benchmark Nikkei 225 added 0.4% to finish at 51,063.31.

Elsewhere in Asia, Hong Kong’s Hang Seng rose 0.8% to 26,913.90, while the Shanghai Composite edged up less than 0.1% to 4,006.17.

Australia’s S&P/ASX 200 shed 0.2% to 8,799.50. South Korea’s Kospi added 1.1% to 4,151.36.

On Tuesday, the S&P 500 added 0.2% to 6,846.61. It’s been bouncing around lately, coming off Monday’s vigorous rebound following its first losing week in four.

Helping to lead the market was Paramount Skydance, whose shares jumped 9.8% even though the entertainment giant reported revenue and profit for the latest quarter that fell short of Wall Street’s expectations. It was the company’s first earnings report since Skydance closed its acquisition of Paramount in early August.

Close behind was FedEx, which climbed 5.4% after it increased its forecast for profit in the current quarter. Instead of expecting growth from just the summer, the delivery company now also expects profit to rise in this year’s holiday-shopping season from last year’s.

In the U.S. bond market, trading was closed for the Veterans Day holiday.

In energy trading, benchmark U.S. crude declined 21 cents to $60.83 a barrel. Brent crude, the international standard, lost 21 cents to $64.95 a barrel.

In currency trading, the U.S. dollar edged up to 154.67 Japanese yen from 154.04 yen. The euro cost $1.1583, down from $1.1587.

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