Asian shares traded mixed on Wednesday, with strong buying in technology stocks supporting some benchmarks, while oil prices surged more than 1% after US President Donald Trump ordered a blockade of all “sanctioned oil tankers” entering and leaving Venezuela.Trump’s move followed last week’s seizure of an oil tanker off Venezuela’s coast by US forces, an unusual step that came amid a buildup of military presence in the region as Washington ramps up pressure on President Nicolas Maduro’s government. US stock futures edged lower in early trade.In Japan, the Nikkei 225 slipped 0.3% to 49,237.58 as investors awaited a Bank of Japan decision on a potential interest rate hike later this week. Government data showed machinery orders from 280 manufacturers fell 6.8% in October from the previous month, pointing to continued weakness in factory activity.Chinese markets posted modest gains. Hong Kong’s Hang Seng rose 0.2% to 25,291.44, while the Shanghai Composite added nearly 0.2% to 3,831.43.South Korea’s Kospi climbed 0.7% to 4,028.93, led by a 2.8% gain in chipmaker SK Hynix and a 3.6% jump in Samsung Electronics. Australia’s S&P/ASX 200 slipped 0.2% to 8,581.00.Overnight on Wall Street, US stocks ended mixed as fresh economic data failed to provide clarity on the future path of interest rates. The S&P 500 fell 0.2% to 6,800.26, the Dow Jones Industrial Average dropped 0.6% to 48,114.26, while the Nasdaq Composite edged up 0.2% to 23,111.46.Traders continue to bet that the Federal Reserve may cut interest rates in 2026, with inflation data due on Thursday expected to show price pressures remain elevated. A report released on Tuesday showed business selling prices rose at one of the fastest rates since mid-2022, while overall business activity slowed to its weakest pace since June.Oil prices rebounded sharply after recent declines. Early Wednesday, US benchmark crude rose 73 cents to $56.00 per barrel, while Brent crude gained 71 cents to $59.63 per barrel. US dollar strengthened to 155.12 Japanese yen from 154.73, while the euro eased to $1.1732 from $1.1748.
