Asian stocks mixed after Wall Street hits new high

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian stock markets are mixed after Wall Street hit a new high as investors looked ahead to a Federal Reserve gathering for an update on U.S. stimulus. Shanghai and Sydney advanced while Hong Kong and South Korea declined. Tokyo was unchanged. Wall Street’s benchmark S&P 500 index rose 0.2% to a new high on a quiet day that also saw the Nasdaq composite set a record. Investors are looking to Friday’s annual Jackson Hole gathering for signs of when the U.S. central bank might reduce bond purchases and withdraw other economic stimulus.