Stock market today: Asian shares trading mixed after Wall Street rally led by Microsoft gains

YURI KAGEYAMA

TOKYO (AP) — Asian shares traded mixed Tuesday after a rally on Wall Street that was led by gains in Microsoft following its announcement that it was hiring Sam Altman, former CEO of OpenAI, the ChatGPT maker.

U.S. futures were higher while oil prices fell.

Chinese markets were initially lifted by a report in the financial magazine Caixin that regulators had drafted a list of property developers that will be able to tap low-cost financing. The moves to facilitate more lending come as the real estate industry remains mired in a crisis brought on by a crackdown on excessive borrowing and worsened by a broad economic slowdown.

Hong Kong’s Hang Seng was little changed, erasing earlier gains, and was up less than 0.1% at 17,783.77, while the Shanghai Composite inched down less than 0.1% to 3,067.93.

“Hopes continue to build that China’s unabating and deepening property slump …