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Stock market today: Asian shares mostly lower after Wall Street retreat deepens

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Shares in Asia are mostly higher, shrugging off a sharp decline on Wall Street that took benchmarks back to where they were in June.

Australia’s S&P/ASX 200 slipped 0.3% to 7,019.70. In Seoul, the Kospi edged 0.1% higher, to 2,466.72.

September has brought a loss of 5.2% so far for the S&P 500, putting it on track to be the worst month of the year by far, as the realization sets in thatfor longer than hoped for. That understanding has sent yields in the bond market to their highest levels in more than a decade, undercutting prices for stocks and other investments.

A separate report said sales of new homes across the country slowed by more last month than economists expected, while a third report suggested manufacturing in Maryland, the Virginias and the Carolinas may be steadying itself following a more than yearlong slump.

 

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