Stock market today: Asian stocks climb after Wall Street's post-election boom slows

FILE - A person looks at an electronic stock board showing Japan’s Nikkei index at a securities firm Wednesday, Nov. 13, 2024, in Tokyo. FILE - Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Nov. 12, 2024. FILE - A person looks at an electronic stock board showing Japan’s Nikkei index at a securities firm Wednesday, Nov. 13, 2024, in Tokyo.

The Hang Seng in Hong Kong added 0.3% to 19,486.97 and the Shanghai Composite index dropped 0.4% to 3,367.94 after a report from the National Bureau of Statistics on Friday showed the nation’s retail sales rose 4.8% year-on-year in October, beating forecasts. But industrial output slowed from the previous month and improvements in the property industry were marginal.Wall Street drifts near record highs after an in-line inflation reportset on Monday. The Dow Jones Industrial Average dropped 0.

Smaller stocks also fell harder than the rest of the market, and the Russell 2000 index of small stocks lost 1.4%. It’s a turnaround from the election’s immediate aftermath, when the thought was that an “America First” president would benefit domestically focused companies more than big multinationals that could be hurt by tariffs and trade wars.and comments from Federal Reserve Chair Jerome Powell.

The two-year Treasury yield, which closely tracks expectations for Fed action, rose to 4.35% from 4.28% late Wednesday.

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