Investing.com - Global share markets displayed a mixed performance on Wednesday, following an uneven session on Wall Street where the S&P 500 achieved a new record close.
By 11:30 am AEDT (12:30 am GMT), the S&P/ASX 200 remained flat, while South Korea's KOSPI 200 and Japan's Nikkei 225 dropped by 1.1% and 0.6% respectively.
Among U.S. indices, the Dow Jones Industrial Average fell by 96 points to 37,905, whereas the S&P 500 and the NASDAQ Composite saw gains of 0.3% and 0.4%, reaching 4,864 and 15,425 respectively.
Reactions to earnings were varied, with Procter & Gamble Company (NYSE:PG) and Verizon Communications Inc (NYSE:VZ) seeing gains of 4.1% and 6.7%, while General Electric Company (NYSE:GE), Johnson & Johnson (NYSE:JNJ), and D.R. Horton Inc (BVMF:D1HI34) experienced losses. Large tech firms advanced, contributing to the Nasdaq's rise.
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In commodity markets, Brent crude oil declined by 0.4% to US$79.72 per barrel, while gold increased by 0.3% to US$2,028.45.
In the bond markets, Australian 2-Year and 10-Year government bond yields were down at 3.88% and 4.19% respectively. U.S. Treasury notes exhibited mixed results, with the 2-Year yield falling to 4.38% and the 10-Year yield rising to 4.14%.
In Asia, Chinese shares rose following a Bloomberg report suggesting a potential $278 billion market rescue package, leading to increased investor sentiment. However, analysts remain cautious regarding the effectiveness and authenticity of such stimulus measures. Energy and auto stocks saw the most significant gains.
Hong Kong shares also saw a rebound, driven by a rally in tech and property stocks. Hopes for Chinese stimulus, coupled with Premier Li's call for proactive measures, further fueled the rally.
Japanese shares, on the other hand, ended lower due to financial stocks' performance after the Bank of Japan decided to maintain its extraordinary easing program.
Indian shares reversed early gains to close lower, with the benchmark Sensex falling 1.5% due to losses in financial and tech stocks.
In Europe, stocks dropped after a mixed trading session in Asia. The Stoxx Europe 600, CAC 40, FTSE 100, and DAX all experienced slight losses. London's blue-chip index ended the session nearly flat as investors recalibrated expectations around the Bank of England's next move following last week's UK CPI figure.