Stock market today: Asian shares are mostly higher after Wall Street hits more records [Video]

TOKYO – Shares were mostly higher in Asia on Thursday after Wall Street’s record-breaking rally powered on.

Shares fell in Chinese markets but rose in the rest of the region. U.S. futures were nearly unchanged and oil prices fell.

On Wednesday, U.S. stocks kept rising in a holiday-shortened session after weak reports on the economy kept the door open for possible cuts to interest rates.

U.S. markets will be closed Thursday for the Independence Day holiday.

Investors worldwide are keen to see the Federal Reserve cut rates that it has been keeping at two-decade highs to slow growth and tame inflation.

In Tokyo, the Nikkei 225 gained 0.6% to 40,815.95, with buying of automakers’ shares and other export oriented stocks kept the benchmark near 35-year highs.

Toyota Motor Corp. was up 1.3% and computer testing equipment maker Advantest Corp. gained 2.4%.

Hong Kong’s Hang Seng recovered from early losses, edging up 0.1% to …