Asian markets were mixed in early trading Wednesday, surrendering early gains, after the S&P 500 and Nasdaq closed at all-time highs.

Japan’s Nikkei

NIK, -0.41%

  was about flat after initially rising about 0.4%. Hong Kong’s Hang Seng Index

HSI, -0.85%

  and the Shanghai Composite

SHCOMP, -0.92%

  also gave up initial gains and were last in the red. South Korea’s Kospi

SEU, -1.33%

  was down about 1%, while benchmark indexes in Taiwan

Y9999, -0.09%

  and Singapore

STI, +0.21%

  were up slightly. Australia’s S&P/ASX 200

XJO, +0.88%

  was up almost 1%, touching a nearly 10-year high in intraday trading.

Among individual stocks, Rakuten

4755, +2.39%

  and Fast Retailing

9983, +1.44%

  gained in Tokyo trading, while Nissan

7201, -3.43%

  retreated. In Hong Kong, real estate companies such as China Resources Land

1109, +1.04%

  and Country Garden

2007, +0.32%

  rose, while oil producer CNOOC

0883, -2.01%

  and telecom China Mobile

0941, -1.19%

  declined. Samsung

005930, -2.21%

  fell in South Korea. National Australia Bank

NAB, +1.22%

  and Westpac Banking

WBC, +1.36%

  advanced in Australia.

On Wall Street on Tuesday, The S&P 500

SPX, +0.88%

  and Nasdaq

COMP, +1.32%

  closed at record highs Tuesday as investors cheered the latest batch of solid corporate earnings. The Dow Jones Industrial Average

DJIA, +0.55%

  closed less than 1% from a record high.

Oil prices closed Tuesday at their highest level since October, but West Texas Intermediate crude for June delivery

CLM9, -0.57%

  and June Brent crude

LCOM9, -0.52%

 , the global benchmark slipped in Wednesday futures trading.

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