Asian shares mixed as US rally meets oil inflation fears

Business Jul 22, 2026

Asian shares traded mixed on Wednesday.

Wall Street had a rally Tuesday, with big gains from AI stars like NVIDIA and Micron boosting the S&P 500, the Dow, and the Nasdaq.

But a spike in oil prices brought back worries about stubborn inflation and higher interest rates sticking around.

Nikkei slips 0.2% as yen weakens

Japan's Nikkei slipped 0.2% as a weak yen made rising energy costs hurt even more.

South Korea's Kospi climbed 0.7%, and Australia's market edged up too, but Hong Kong's Hang Seng dropped over 1%. Shanghai stayed mostly flat.

The US dollar also dipped slightly against the yen, adding to Japan's economic headaches.