Asian shares are mixed after Wall St sets a record, and the US dollar's value slides further

Asian shares were mixed on Wednesday after the S&P 500 ticked to a record, as the U.S.dollar’s value slid further.

Later Wednesday, the Federal Reserve will announce its next move on interest rates.The expectation is that it will hold its main interest rate steady for now.

South Korea’s benchmark hit a record, lifted by gains for technology shares like computer chip maker SK Hynix, which climbed 3%.The Kospi was up 1.3% at 5,152.14.Tokyo's Nikkei 225 index lost 0.5% to 53,055.58.

The dollar rebounded slightly against the Japanese yen but has still weakened sharply since last week, putting pressure on shares of major exporters.Toyota Motor Corp.

lost 3% and other major manufacturers also extended losses.The dollar was trading at 152.75 yen, up from 152.19 yen.

But it's nearly 4% lower than its level last week, when it surged to near 160 yen, prompting both Japanese and U.S.officials to warn they will intervene to stanch the yen's decline.

The euro slipped to $1.1995 from $1.2041 late Monday.It also has surged against the dollar.

An index measuring the U.S.dollar’s strength against several of its competitors has dropped to its lowest point since 2022.

The price of gold jumped nearly 3% to surpass $5,200, and silver’s price jumped 9%.Prices of precious metals have been soaring as investors have sold dollars to park their money in assets considered to be relatively safe in times of turmoil.

Elsewhere in Asia, Hong Kong's Hang Seng index rose 2.4% to 27,782.59, while the Shanghai Composite index added 0.5% to 4,160.01.Taiwan's Taiex advanced 1.1%, while the Sensex in India gained 0.5%.

On Tuesday, U.S.stocks zigzagged following mixed profit reports from UnitedHealth, General Motors and other big companies.Popular ReadsMinneapolis live updates: Stephen Miller says CBP may not have followed protocolJan 28, 2:19 AMMinneapolis ICE shooting updates: Over 3,000 arrested in Minnesota, DHS saysJan 18, 2:39 PMWinter storm updates: Dozens dead across US in ...