Shares were mostly lower in Asia on Wednesday, weighed down by concerns over disrupted supply chains and shipping, despite the Dow Jones Industrial Average's first close above 36,000 points.
Benchmarks fell in most major markets apart from Sydney and Taipei. Tokyo's markets were closed for a holiday.
"Markets are largely in wait-and-see mode ahead of the U.S. Fed meeting. The question is not so much one of tapering, which at this point seems a foregone conclusion, but more about the timing of future rate hikes," Mizuho Bank said in a commentary. In remarks carried by the official Xinhua News Agency, Li said the government needs to provide more support for smaller companies, reduce taxes and fees, "do a good job in ensuring the supply and price stability of electricity and coal and take strong measures to support manufacturing."
That includes New Zealand, where the unemployment rate has fallen to 3.4%, its lowest level in 14 years, despite a lockdown in the largest city of Auckland, Statistics New Zealand reported Wednesday. The country's share benchmark was barely changed. Investors have been mining corporate earnings for clues as to how companies are faring as the economy moves past the pandemic.
Later Wednesday, investors will get another update on services, which make up a big part of the economy, when the Institute for Supply Management releases its service sector index for October.
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