BANGKOK – Asian stock markets were mostly lower Wednesday amid renewed fears of Chinese lending curbs and jitters about U.S. corporate earnings that have provided mixed signals about the strength of economic recovery.

China’s Shanghai benchmark tumbled nearly 3 percent after investors interpreted a speech Tuesday night by Premier Wen Jiabao as a sign the flow of easy credit will be further stanched.

The remarks were similar to previous government comments on credit after China earlier this month made a tentative move to slow its lavish bank lending. But they unsettled investors who were already on edge because lackluster earnings from U.S. companies have suggested economic recovery in the world’s largest economy is slow and uneven at best.

Asia’s losses came despite Wall Street’s gains on Tuesday, where the Dow Jones industrial average rose 1.1 percent to a 15-month high. Oil slipped below $79 a barrel and the dollar was stronger against the yen and the euro.

In Tokyo, the Nikkei 225 stock average surrendered early gains to fall 27.38 points, or 0.3 percent, at 10,737.52. Japan Airlines slumped 60 percent to 2 yen after filing for one of the country’s largest bankruptcies on Tuesday. JAL shares will be removed from the stock exchange on Feb. 20.

The Shanghai index slid 2.8 percent to 3,156.16 which also knocked Hong Kong stocks lower. The Hang Seng fell 283.75, or 1.3 percent, to 21,394.23.

Elsewhere, Singapore’s market was off 0.5 percent, Taiwan retreated 0.3 percent and Thailand’s stock measure lost 1.2 percent. South Korea’s Kospi bucked the trend, advancing 0.2 percent to 1,714.38 and India’s Sensex was up 0.1 percent at 17,516.84.

In the U.S. on Tuesday, the Dow rose 115.78, or 1.1 percent, to 10,725.43. The broader Standard & Poor’s 500 index rose 14.20, or 1.3 percent, to 1,150.23. The technology-heavy Nasdaq composite index rose 32.41, or 1.4 percent, to 2,320.40.

Stocks been climbing for 10 months on hopes that an easing recession would boost corporate profits. But lingering problems like high unemployment and a weak housing market in the U.S. have raised questions about whether the rally has been overdone.

Earnings reports — which can provide a guide to real demand in the economy — are due this week from Bank of America Corp., eBay Inc., General Electric Co., Goldman Sachs Group Inc., Google Inc., Morgan Stanley and Wells Fargo & Co.

Results already released from corporate bellwethers have been a mixed bag.

Oil prices fell in Asia amid expectations of a dismal U.S. crude inventory report.

Benchmark crude for February delivery fell 68 cents to $78.64 in electronic trading on the New York Mercantile Exchange. The contract rose $1.02 to settle at $79.02 on Tuesday.

In currencies, the dollar rose to 91.17 yen from 91.11 yen. The euro fell to $1.4195 from $1.4291.