Stock market today: Asian shares are mixed as China stocks get bump from new property measures

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Asian shares are mixed after Chinese stocks reversed earlier losses following the announcement of fresh measures to revive the ailing property market. U.S. futures fell and oil prices edged higher.

A person looks at an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Friday, May 17, 2024, in Tokyo. Passersby look at an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Friday, May 17, 2024, in Tokyo. FILE - An entrance to the New York Stock Exchange is shown on May 8, 2024, in New York.

On Thursday, the Dow slipped 0.1% to 39,869.38 after topping 40,000. The S&P 500 index, which is much more widely followed on Wall Street, dipped 0.2% to 5,297.10, and the Nasdaq composite fell 0.3% to 16,698.32. All three indexes had rallied on Wednesday to all-time highs.Homebuilders also helped drag the market lower following a weaker-than-expected report on the housing industry.

Source: News Formal (newsformal.com)

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