Stock market today: Asian shares trade mixed after Wall Street recovers

Asian shares are trading mixed after Wall Street recovered some losses from the day before. Japan's benchmark Nikkei momentarily reached a new record high in early trading but later slipped to finish lower Thursday. Shares rose in Sydney and Seoul but declined in Hong Kong and Shanghai. The S&P 500 rose 0.5% Wednesday. The Dow added 0.2%, and the Nasdaq climbed 0.6%. Federal Reserve Chair Jerome Powell said again that cuts to interest rates may be coming later this year, but the Fed needs more data showing inflation is cooling before it will act. Oil prices fell slightly.