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Asian shares mixed after U.S. stocks retreat from record high

Asian shares mixed after U.S. stocks retreat from record high
Business
TOKYO -- Asian shares were mixed Thursday after U.S. stocks closed lower, giving back some of its gains a day after the S&P 500 and Nasdaq hit record highs.

Japan s benchmark Nikkei 225 edged up 0.2% in early trading to 22,247.14. South Korea s Kospi fell nearly 0.3% to 2,195.56. Hong Kong s Hang Seng slipped 0.5% to 29,805.83, while the Shanghai Composite inched up nearly 0.1% to 3,201.61. Australia s trading was closed for Anzac Day, a national holiday.

On Wall Street, energy stocks led the modest slide as crude oil prices fell after a three-day rally. Communications companies also helped pull the market lower, offsetting gains in real estate and other sectors. Bond prices rose as traders took a more defensive approach.

Stocks wavered between small gains and losses through much of the day as investors continued to wade through a steady flow of corporate earnings.

The S&P 500 index fell 6.43 points, or 0.2%, to 2,927.25. The benchmark index closed at a record high on Tuesday. The Dow Jones Industrial Average dropped 59.34 points, or 0.2%, to 26,597.05. The Nasdaq composite lost 18.81 points, or 0.2%, to 8,102.01. The index was also coming off a record high close.

ENERGY: Benchmark U.S. crude lost 30 cents to $65.59 a barrel. It fell 0.6% to settle at $65.89 per barrel. Oil had been climbing recently since dropping below $43 in late December. Brent crude fell 26 cents to $74.31 per barrel.
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