Asian shares are mostly trading higher after U.S. stocks hit another record. The indexes in Shanghai, Tokyo and Seoul inched higher Thursday, while Hong Kong was lower.

U.S. stocks ticked higher on Wednesday to hit another all-time high. The S&P 500 rose 0.5% and set a record for the third time in four days.

U.S. stocks are drifting as Wall Street's rally slows ahead of a key economic report on Thursday. The S&P 500 rose 0.2% Wednesday, while the Dow was roughly flat, and