Global Stocks: U.S. stock indices little changed

U.S. stock indices traded mixed and closed not far from open levels as investors continued to overcome Monday selloff shock.

The Dow Jones Industrial Average added 9.72 points, or less than 0.1%, to 17,158.66. The S&P 500 climbed 4.04 points, or 0.2%, to 2,016.70. The Nasdaq Composite declined 11.66 points, or 0.2%, to 4,891.43.

Business activity rose in New York in December despite expectations of a moderate worsening. The corresponding index from the Institute for Supply Management rose to 62.0 points in December from 60.7 in the previous month. Economists had expected the index to decline to 60.0. Despite a slight decline the index remained above the 50 points threshold suggesting expansion.

This morning in Asia Hong Kong Hang Seng fell 0.64%, or 135.35, to 21,053.37. China Shanghai Composite Index gained 1.39%, or 45.63, to 3,333.34. The Nikkei fell 1.04%, or 191.98, to 18,182.02.

Asian stock indices traded mixed. Japanese stocks climbed at the beginning of the session taking a lead from Wall Street, but declined later amid a stronger yen, which is unfavorable for exporters. The yen rose against the U.S. dollar to the highest level since October 15 as risk sentiment declined after Chinese authorities set the exchange rate of the yuan lower.