(May 27): Asian stocks were mixed on Wednesday as investors weigh hopes for economic recovery against deepening US-China strains.
Futures on the S&P 500 fluctuated after the index closed at an 11-week high. Jamie Dimon, head of America’s biggest bank, counted himself among the optimists Tuesday, saying there could be a “fairly rapid recovery.” Data showed U.S. new-home sales unexpectedly rose in April. Treasuries and the dollar held the bulk of Tuesday’s losses. Stocks were up in Tokyo and Seoul, and flat in Shanghai and Sydney.