Asian stocks mixed after Wall St falls, China retail slows
Asian stocks are higher after Wall Street gave back some of last week’s huge gains, the American and Chinese presidents met and China’s consumer spending shrank in a sign its economy is weakening
By JOE McDONALD
Published - Nov 15, 2022, 01:46 AM ET
Last Updated - Jun 23, 2023, 02:46 PM EDT
BEIJING (AP) — Asian stocks gained Tuesday after Wall Street gave back some of last week's huge gains, the American and Chinese presidents met and China's consumer spending shrank in a sign its economy is weakening.
Shanghai, Tokyo and Hong Kong, which are the bulk of the region's market capitalization, advanced. South Korea and Sydney declined. Oil prices retreated.
Wall Street's benchmark S&P 500 lost 0.9% on Monday, giving back part of last week's 5.9% surge after lower U.S. inflation encouraged hopes the Federal Reserve might ease off planned rate hikes to rein in surging prices.
